Sat.Apr 27, 2024 - Fri.May 03, 2024

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How AI is transforming accounting

Accounting Today

A recent survey from EY found that 90% of respondents already use at least some AI in their work, and other recent developments around the technology.

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New changes to Xero’s plans in Australia from July

Xero

We want to make sure the needs of small businesses and their advisors are met well into the future — and that means providing you with easier access to tools that help you run your business efficiently. That’s why we’re refreshing our subscription plans for small businesses and partners, which will be available from 1 July 2024. We’ve put a lot of consideration into creating streamlined plans with bundled tools and features, to help solve your most important accounting and people managemen

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professionals

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Growth by Design: The Evolution of Custom-Fit Implementations | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

We are thrilled to announce that Episode 18 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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What is VendorVault? Accounts Payable Tools

Fidesic blog

What is VendorVault? VendorVault by Fidesic is a secure vendor portal that makes it easier for your vendors to submit, manage and status check their own invoices.

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Live Demo: How to Achieve Reconciliation Zen

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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New CTA BOI FAQs clarify reporting requirements, database access

Accounting Today

The landscape of Corporate Transparency Act beneficial ownership information reporting continues to evolve, and accountants and others who advise their small business clients need to stay ahead of the curve.

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Why we’re calling 2024 ‘the year of the US bank feed’

Xero

Bank feeds are a great way to import transactions from your financial institution directly into Xero, so you can easily complete the reconciliation process. But the US is a pretty challenging market when it comes to providing high-quality bank feeds. There are more than 4,000 financial institutions, each with their own capabilities and nuances. To address this and help you get transactions into Xero more easily, we’ve been focused on improving the coverage and quality of our bank feeds.

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Insightful Accountant's Top 100 ProAdvisors for 2024

Insightful Accountant

Insightful Accountant proudly announces this year's Top 100 ProAdvisors along with our Emeritus ProAdvisors of the Year. Congratulations to all being recognized for this year's awards.

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SEC shuts down auditor BF Borgers with $14M in fines for fraud on 1,500+ filings

Accounting Today

The Securities and Exchange Commission charged the fast-rising auditing firm with deliberate, systemic failures to comply with PCAOB standards for audits and reviews.

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Celebrating industry legends at the UK Xero Awards 2024

Xero

We are thrilled to announce our UK Xero Award winners for 2024 , recognising the legends of the UK accounting, bookkeeping and app partner community. This year’s celebrations took place for the first time in Manchester at the iconic New Century Hall – a place built for legends. The venue has played host to music legends from Jimi Hendrix and Jerry Lee Lewis, to The Who and The Bee Gees.

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ADC Attends The 2024 CEO Coaching Make BIG Happen Summit

Accounting Department

Last week, AccountingDepartment.com Business Development Representative, Shawn Marcum hit the road and attended the CEO Coaching Make BIG Happen Summit in Miami, FL.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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Why training is key to the success of your AP Automation plan

Cevinio

Discover the essential role of a comprehensive training program in our latest blog, which highlights why it's the first critical step in any successful AP automation plan for automated invoice processing.

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IRS updates modernization plans

Accounting Today

The Internal Revenue Service released an update of its Strategic Operating Plan, with improvements planned in services and technology for both taxpayers and tax professionals.

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Xero to retire the Planday product in Australia; enters new Deputy Australia partnership

Xero

We know how important time, attendance and scheduling (TAS) needs are for any small business. And for Australian employers, we know it is even more important because Australia has some of the most complex payroll compliance requirements in the world. Following a careful review of our current TAS solution, we have made the difficult decision to retire our Planday product on 30 September 2024.

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May is Military Appreciation Month

Insightful Accountant

May is Military Appreciation month in the US and we at Insightful Accountant want to say "Thank You" to those who are serving or have served, and to their families for their service.

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The Definitive Guide to Spend Management

The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.

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Learning and growing in fintech

Plooto

What led you to join Plooto, and what has your journey been like since then? As someone who majored in Economics, I was always interested in working in fintech. When I was looking for startups to apply to, the name Plooto kept coming up. Plooto is well known in the Toronto startup space, and I thought the company would be a good fit.

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Oregon senator demands refunds for TurboTax customers

Accounting Today

Sen. Ron Wyden, in a letter, demanded that TurboTax refund customers who, due to a software glitch, were inappropriately encouraged to take non-optimal choices, resulting in higher taxes.

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Revolutionising Tax Workflow with AI: Highlights from Our “Let’s Talk Tax Technology” Webinar with SCTP

Counto

Revolutionising Tax Workflow with AI: Highlights from Our “Let’s Talk Tax Technology” Webinar with SCTP In the fast-evolving world of tax technology, staying ahead means embracing innovation. At Counto, we not only adopt advancements; we innovate, building our own AI-powered systems. Our recent collaboration with the Singapore Chartered Tax Professionals (SCTP) for the “Let’s Talk Tax Technology” webinar is a testament to our commitment to reducing compliance

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Measuring the Success of Your DE&I Strategy

Insightful Accountant

MassCPA's report highlights DE&I disparities in accounting. 80% of leaders are white, 60% male. Perception gap: 68% of leaders vs. 36% of employees feel empowered. 1 in 10 left due to lack of inclusion measures. Read more about it!

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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

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How to pay Contractors in QuickBooks online?

Nanonets

Businesses increasingly lean on outside contractor support for many operational functions as payroll costs balloon and global talent pools become increasingly accessible. For companies using QuickBooks, a range of self-service contractor payment options are available that, additionally, can be optimized using third-party integrations. We’ll take a quick look at paying contractors through QuickBooks, but, in reality, the process couldn’t be more straightforward for even the least te

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Generative AI expected to grow, not shrink, headcount

Accounting Today

A set of polls has found that leaders expect that generative AI will lead organizations to actually increase, not decrease, their headcount, at least in the short term.

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Self-liquidating loan definition

Accounting Tools

What is a Self-Liquidating Loan? A self-liquidating loan is a debt that is paid off from the cash flow generated by the assets originally acquired with the funds from the debt. The scheduled loan payments are typically structured to coincide with the cash flows generated by the underlying asset. These loans are structured to have a short duration, and are used to fund temporary increases in current assets.

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QuickBooks Recertification Training For May, 2024

Insightful Accountant

It's time to recertify for most QuickBooks Online ProAdvisors ('Core' or 'Advanced'). The recertification window opens May 1 with a June 30, 2024 deadline for exam completion.

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Putting the ‘Tech’ in Spend Management Techniques

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

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5 Things to Consider Before Buying QuickBooks

Ace Cloud Hosting

Thinking about getting QuickBooks to streamline your inventory and simplify accounting? Awesome! But hold on a sec… Before you proceed further, let’s make sure if it’s the right move for.

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Small business hiring slowed in April, but pay grew

Accounting Today

The pace of small business job growth slackened in April, but hourly earnings ticked up to 3.34% for the month, ending a nearly two-year slowdown, according to payroll processor Paychex.

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Separate entity definition

Accounting Tools

What is a Separate Entity? The separate entity concept states that we should always separately record the transactions of a business and its owners. The concept is most critical in regard to a sole proprietorship , since this is the situation in which the affairs of the owner and the business are most likely to be intermingled. Here are several examples of the rules to be followed when using a separate entity: An owner cannot remove funds from a business without recording it as either a loan , c

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QuickBooks Desktop and Outlook - 'Problems Again'

Insightful Accountant

Microsoft says that the solution to the problem of having been unable to send emails from QuickBooks after updating Outlook Desktop to Version 2402 has now been resolved.

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Book of Secrets for the Month-End Close

Developing a consistent month-end close doesn’t need to be a mystery. We’re sharing our top 10 secrets (plus one bonus!) for streamlining your close.

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7 Ways You Can Empower Women In Your Accounting Firm

Ace Cloud Hosting

As accounting businesses and firms prepare for the future, many of them are realizing that empowering women is of great importance for helping their firm forge the way of doing.

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Internal audit leaders hunt for student talent

Accounting Today

Internal audit hiring manager are looking for recent college grads who have learned about accounting and auditing, but also technology like data analytics.

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Short-term debt definition

Accounting Tools

What is Short-Term Debt? Short-term debt is the amount of a loan that is payable to the lender within one year. Other types of short-term debt include accounts payable, commercial paper , lines of credit , and lease obligations. The balance in the short-term debt account is a major consideration when evaluating the liquidity of a business. Evaluating Short-Term Debt To evaluate short-term debt, compare the current assets figure on the balance sheet to the current liabilities figure.

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Tax Technology Outlook for 2024

Insightful Accountant

In 2024, tax tech is evolving rapidly with AI, data analytics, and blockchain. Tax pros need to adapt to these innovations for effective use.

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Global Accounting Principles and Commission Capitalization

Speaker: Ryan Dillard, Chief of Staff Director at CBIZ ARC Consulting LLC; Kelly Hicks, Global Controller at Airbase

ASC 606 is the revenue recognition standard that sets global accounting principles for all private or public companies that enter sales agreements or contracts with customers. Along with ASC 606, ASC 340-40 was added to address accounting costs to obtain a contact and costs to fulfill a contract. Join us for this webinar when Airbase Controller Kelly Hicks and Ryan Dillard, a Director at CBIZ ARC Consulting explore how to approach capitalizing sales commissions under ASC 340-40.