CPA Practice

NOVEMBER 14, 2023

13-15, more than 2,500 accountants learned about many new product and feature innovations that will help them serve their clients through the QuickBooks Online ecosystem. Our 2023 event doubled down on how AI-driven innovations can help accountants and the small businesses they serve gain insights to make more informed business decisions.

quickbooks 119

quickbooks E-commerce Approval Workflows Account 119

Xero

JANUARY 30, 2024

Australia’s current property market presents both challenges and opportunities, with changing tenancy rules and rental controls, and the impact of interest rates and cost of living pressures. Property investment accounting, or landlord accounting, manages your property portfolio assisting with tax compliance and return on investment.

Account 93

Account accountant accounted accounting and finance 93

Basis 365

JULY 25, 2023

Effective financial management is crucial for the success of any business, including marketing companies. So, let's explore the top accounting KPIs vital for a marketing company's financial management. Client Acquisition Cost (CAC) : CAC measures the cost of acquiring new clients for the marketing company.

Account 97

Account accountant accounted accounting system 97

ThomsonReuters

AUGUST 25, 2023

Managing corporate tax depreciation Each tax season, business clients turn to their accountant for assistance in navigating corporation tax depreciation and leveraging every tax deduction they can take to minimize their tax liability. It is the recovery of an asset cost over a number years or, in other words, the asset’s useful life.

corporation tax 98

corporation tax Tax income tax financial statements 98

TaxConnex

NOVEMBER 22, 2022

In our blog last week, we looked at how sales and use tax advisory services might be a good new field for CPAs and accounting firms. Another cost-effective approach to adding sales and use tax advisory services: partnering with sales and use tax experts. Review the sales tax payable account.

accounting firms 130

accounting firms Sales Tax tax return 130

Reckon

AUGUST 2, 2023

Guest post blog by Catherine Schwartz Today, having more than one income stream is completely feasible. Millennials and Gen Z are the most financially savvy for their age range among all generations, partially attributable to technology that helps them manage their money better,” argues Catherine. Doing so truly is a must.

accounting and finance 98

accounting and finance Non-Profits Start-ups Finance 98

CPA Practice

JANUARY 20, 2023

Being an accountant means that work often comes in ebbs and flows. From the Thomson Reuters blog. The fight against burnout starts with managing stress. The fight against burnout starts with managing stress. It’s a significant issue for tax professionals and accountants. Being an accountant is different.

Tax 122

Tax Start-ups accounting software accounting meaning 122

Airbase

DECEMBER 5, 2023

This blog explores the critical importance of these reports, delving into how they contribute to financial transparency, regulatory compliance, and the overall efficiency of business operations. 5) Use a spreadsheet or an expense management solution to create the report. Steps to create effective business expense reports.

Approval Workflows 130

Approval Workflows Expense Management Entertainment Technology 130

Basis 365

APRIL 3, 2023

In this blog post, we'll discuss how to break out Shopify fees for accurate financials and the benefits of outsourced e-commerce accounting. You may think of sales channel costs as costs of goods sold (COGS) but they are actually operating expenses. We recommend grouping them in a section called “Selling Costs”.

E-commerce 102

E-commerce financial statements Sales Account 102

CPA Practice

MARCH 21, 2024

Over the course of the past year the company has expanded to support Etsy, Poshmark, Mercari and Amazon sellers in addition to eBay with its automated bookkeeping and accounting solution. It connects to banks and credit cards to import data on inventory costs and other business expenses.

bookkeeping 52

bookkeeping Account accountant accounted 52

DuctTapeMarketing

JULY 14, 2018

Cloud-based accounting software can provide a whole suite of tools to help business owners get ahead. It’s simply essential – and results in reduced costs for your business. Not tracking daily transactions will cost you time and money down the road. Handle payments and manage accounts payable. Social Media.

bookkeeping 238

bookkeeping accounting and finance accounting software bookkeeping services 238

Basis 365

JUNE 29, 2023

When managing your company's finances, several roles come into play. In this blog, we'll explore the differences between a bookkeeper and a controller and help you determine which role(s) you need for your business. They record transactions, reconcile accounts, and generate financial statements. What is a Bookkeeper?

bookkeeping 90

bookkeeping accounts payable basic accounting accounting and finance 90

ThomsonReuters

FEBRUARY 28, 2024

Alicia Shaul ’s path to accounting was less than traditional. A culture of happiness and growth In the six years after she became a CPA, Shaul worked at several accounting firms and experienced some less-than-ideal managers. As an undergrad, she majored in political science and pre-law.

cpa firm 98

cpa firm CPA Non-Profits financial statements 98

ThomsonReuters

AUGUST 25, 2023

Internal use vs. external use software Solutions for managing software depreciation for taxes In today’s tech-driven environment, companies need software to efficiently run their business, whether it is software they purchase from an outside source or develop internally. Jump to: What is software depreciation? Can software be amortized?

Tax 97

Tax Technology Manufacturing payroll 97

CPA Practice

MAY 12, 2023

It may sound like a simple task, but to do it justice, you must take the past into account and identify future goals for a period of time, such as the one, three, and even five years. Calculate it by tracking campaign lead source, campaign cost, lead and customer tracking, customer lifetime value, sales cycle length, and customer journey.

Sales 98

Sales Account accountant accounted 98

ThomsonReuters

JANUARY 31, 2024

These inefficiencies put a strain on your existing staff, cost your practice money, and may put you at a competitive disadvantage in attracting and retaining top talent. The post Top 10 tips to streamline your 1040 tax workflow appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Tax 52

Tax Technology Account accountant 52

ThomsonReuters

OCTOBER 31, 2023

How to calculate depletion expense Depletion vs. depreciation Managing depletion expenses Clients in the mining, timber, and oil and gas industries must invest a lot of time, money, and resources to extract natural resources from the earth and transform them into useful products for consumers. Let’s take a closer look.

Tax 59

Tax tax preparation Legal Account 59

Xero

NOVEMBER 27, 2023

Getting bills into Xero, processing the payment and reconciling each transaction can take time away from important tasks, like growing revenue and managing costs. We’re the first major small business cloud accounting software in the UK to offer on-platform bill payments using open banking.

Technology 95

Technology accounts payable accounting software Start-ups 95

ThomsonReuters

DECEMBER 1, 2023

As explained by the IRS , this limit is reduced by the amount by which the cost of section 179 property placed in service during the tax year exceeds $2,890,000. The section 179 cost elected for automobiles and other listed property. Section 179 is an immediate expense deduction that allows taxpayers to deduct a set dollar amount.

tax return 97

tax return Tax Transportation Non-Profits 97

ThomsonReuters

MARCH 2, 2023

Most plans must continue to cover vaccines furnished by in-network providers without cost sharing but may require individuals receiving vaccines from out-of-network providers to share part of the cost. Plans may choose to cover these tests but may require cost sharing, prior authorization, or other forms of medical management.

Tax 97

Tax Account accountant accounted 97

ThomsonReuters

MAY 11, 2023

QUESTION: Throughout the pandemic, our company’s group health plan has covered COVID-19 testing and vaccines at no cost to plan participants. In addition, non-grandfathered health plans were required to provide coverage for COVID-19 vaccines, also at no cost and without medical management restrictions.

Tax 98

Tax Account accountant accounted 98

Xero

APRIL 17, 2024

Understanding the environmental impact of your business is critical in today’s business environment — and carbon accounting is a fundamental step in this process. With carbon accounting increasingly becoming another compliance measure mandated by regulators, businesses of all types and sizes need to get their emissions numbers in order.

Account 91

Account accountant accounted accounting apps 91

CPA Practice

MARCH 8, 2023

Anyone who deals with property tax knows firsthand how complex it can be to manage, especially given how tax laws differ not only between states but even among local jurisdictions within the same state. Ask three organizations how they manage their property taxes, and you’ll get three different answers.

Tax 105

Tax Technology accounting and finance tax return 105

ThomsonReuters

JUNE 16, 2023

Many of today’s accounting professionals have a new perspective on when and how they want to work. The onset of the COVID-19 pandemic forced countless businesses, including accounting firms, to go remote essentially overnight due to mandated shutdowns and stay-at-home orders. Are there still remote accounting jobs?

accounting firms 111

accounting firms Account accountant accounted 111

ThomsonReuters

MARCH 8, 2024

As busy accountants, it’s easy to get stuck in survival mode. How can you build your service offerings to better serve your clients and grow your CPA firm through accountability? ” Firms that are growing have to continue to add staff, which adds costs to maintain a bigger firm. Take accounts receivable for example.

cpa firm 96

cpa firm CPA Technology Tax 96

Xero

MARCH 13, 2024

Save time on sending invoices and reminders in the new year by using an accounting software that does it for you. There are digital tools available that automate your expense management so that it’s less of a headache by the end of the year. You may want to consult an accountant or bookkeeper for this step.

tax return 83

tax return bookkeeping accounting software payroll 83

Going Concern

MAY 30, 2023

FT dropped this over the weekend : Candidate numbers for US accountancy exams drop to lowest in 17 years New figures from the American Institute of Certified Public Accountants showed the shortage of CPA candidates that has plagued the profession in recent years worsened in 2022, dashing hopes for a quick rebound from the pandemic.

CPA 77

CPA institute of chartered accountants Government chartered accountant 77

Xero

JUNE 8, 2023

Like many entrepreneurs looking to save money, you may think you can’t afford an accountant or bookkeeper. But if you get an advisor to take care of time-consuming tasks, like tax, it’ll likely cost less per hour than what you would pay yourself. The deduction is only allowed for the business portion of use.

Retail 91

Retail Tax bookkeeping payroll 91

ThomsonReuters

APRIL 26, 2022

Tax and accounting firms of all sizes need dependable systems and procedures to deliver the best value to their clients. Finding the right accounting software for your firm will keep business records organized, improve operational efficiency, identify areas for improvement, and help you manage growth over time.

accounting software 98

accounting software Technology Account accountant 98

ThomsonReuters

FEBRUARY 16, 2024

This makes data management matter more than ever. 2. Aiding in heightened risk management Many global companies are ill-equipped to meet these new demands. Tax managers may spend valuable time dealing with messy data that arrives in a variety of formats and is stored in standalone spreadsheets.

corporation tax 96

corporation tax Technology Tax accounting and finance 96

Xero

FEBRUARY 6, 2023

Because, more than ever, accountants and bookkeepers are embracing change – and it’s propelling the industry forward. Although the peak of COVID-19 may have passed, rising inflation and cost of living pressures – amidst ongoing local and global disruption – are presenting a whole new set of obstacles. So what led us here?

bookkeeping 98

bookkeeping Education Account accountant 98

Xero

JANUARY 14, 2024

In 2024 and beyond, four ‘C’ dynamics will underpin the development and impact of this technology: cost, consolidation, control and creation. Trend #1: The cost of AI will need to be managed The next big thing for AI will be cost — or rather, how to contain the runcost of AI.

Technology 84

Technology Manufacturing Start-ups Account 84

Xero

MAY 1, 2023

Managing people is one of the biggest challenges faced by small businesses. This is part of our suite of employee management tools available in Australia, helping employers and employees connect in real time. Here are four ways it can help make employee management easier. appeared first on Xero Blog.

payroll 91

payroll Hospitality Healthcare Start-ups 91

ThomsonReuters

JANUARY 14, 2022

Being an accountant means that work often comes in ebbs and flows. The fight against burnout starts with managing stress. It’s a significant issue for tax professionals and accountants. If someone in marketing has a typo, it may be embarrassing, but it rarely costs the company more than some pride. What is burnout?

Tax 98

Tax Technology Start-ups accounting software 98

MineralTree

OCTOBER 26, 2023

Automation is reshaping the way companies manage their financial operations, especially in accounts payable (AP). In this blog post, we’ll dive into the transformative world of AP technology to explore its role in modern financial operations and how it can help businesses save time and money.

AP Automation 76

AP Automation Technology AP Processes accounts payable 76

ThomsonReuters

JULY 25, 2023

And even if the project gets approved, cross-departmental discussions and support – from accounts payable, procurement, finance, IT, etc. – Thomson Reuters: If a business is doing tax determination and rate management manually, is it feasible that the tax team can keep up?

Technology 93

Technology Tax audit Sales 93

MineralTree

FEBRUARY 15, 2024

Is your accounts payable (AP) check run holding your business back? The AP check run remains a pain point for many finance departments who rely on manual processes and outdated solutions to manage AP — in turn, causing check run delays and hiccups. What is a check run in accounts payable? Did you know?

AP Automation 78

AP Automation accounts payable Technology accounting and finance 78