Wed.Sep 27, 2023

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Outsourced Bookkeeping for CPAs: 8 Options Compared

Ryan Lazanis

If you’re a CPA firm looking to outsource your bookkeeping, you’ll want to check out this post on the 7 different options for outsourced bookkeeping for CPAs. In this article, I’ll run through some of the more modern options that might make the most sense for your firm at the moment. Check it out: Outsourced Bookkeeping for CPAs Terminology Before continuing, there are 3 terms that I want to briefly define which will have an impact on the option you select.

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No procurement team? No problem. Procurement checklists to get more spend under management.

Airbase

Procurement plays a pivotal role in cost management, risk mitigation, and financial performance. But until recently, many organizations struggled to define their processes and find the right tools to manage procurement. Let’s take a look at the basic elements of procurement, and how different organizations and systems approach this vital function. What is procurement?

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How Accounting Firms Are Winning the Automation Game

CPA Practice

For accounting firms, automation gathers scattered information and turns it into valuable insights. It increases productivity and empowers firms to better advise their clients by putting the right data into the right hands at the right time. So, it should come as no surprise that firms using technology and software to streamline certain practices and processes are reaping the growth and financial benefits of automation.

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AICPA backs STEM accounting bill in Congress

Accounting Today

The American Institute of CPAs expressed strong support for bipartisan legislation that would establish the accounting profession as a STEM career pathway.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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CPA Exam Candidates: You Better Hurry Up and Apply For BEC Before It’s Gone Forever

Going Concern

Once again @profjackc has tweeted a very important reminder for current CPA exam candidates and once again we’re here signal boosting said reminder because it’s important information. If you are a first time BEC section exam candidate most states will stop processing your NTS after next Monday, Oct. 1. Do not delay! Get in your BEC NTS ASAP.

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Small Business Owners’ Confidence in the Economy Nears Pre-Pandemic Highs

CPA Practice

By Alyssa Khan, Inc. (TNS) Small business owners are more optimistic than they have been since early 2020, according to the Q3 Small Business Index. The latest survey of small businesses from MetLife and the U.S. Chamber of Commerce, the Q3 index shows that overall confidence in the economy is up (33% of those surveyed said the economy is in good health, compared to 24% in the Q2 survey ).

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Hundreds of Illinois CPAs Participate in Annual Day of Service

CPA Practice

Hundreds of certified public accountants across Illinois participated in the Illinois CPA Society’s 14th annual CPA Day of Service on Sept. 23, 2023, with others still planning activities later this fall. Goodwill and good times were plentiful as nearly 900 CPAs in their matching CPA Day of Service T-shirts took part in a wide variety of individual and group charitable and community service activities in support of the communities and causes they care for.

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SEC appoints George Botic to succeed Duane DesParte at PCAOB

Accounting Today

The Securities and Exchange Commission appointed a CPA who has served as director of the Public Company Accounting Oversight Board's Division of Registration and Inspections.

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Five Amazing Accounting Apps and Features

CPA Practice

By Roman H. Kepczyk, CPA.CITP, CGMA. The CPA Firm Management Association (CPAFMA.org) recently hosted an open chat forum where member firms discussed “amazing” accounting applications that had significantly improved firm productivity. While some of the most highly touted were relatively new, others built on features to existing applications, with many attendees not aware that these capabilities had been added, extending the functionality of their existing applications.

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Accelerating Your Business Growth Through Continuous Improvement: Part 1

Cherry Bekaert

Continuous improvement can be defined as organizational efforts to enhance systems, processes, products or services. It involves identifying inefficiencies, assessing existing methods and transforming business strategies to achieve better outcomes. In this episode of Cherry Bekaert’s Digital Journeys podcast series, Jim Holman , Director and Strategy & Operations Leader, and Steve Holliday , Director of Digital Advisory, discuss the importance of implementing a practice of continuous impro

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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AICPA Supports Legislation that Recognizes Accounting as a STEM Career Pathway

CPA Practice

The American Institute of CPAs (AICPA) is supporting new bipartisan, bicameral legislation establishing the accounting profession as a STEM career pathway and supporting long-standing efforts to diversify the future accounting workforce. In the House of Representatives, H.R. 3541, the Accounting STEM Pursuit Act of 2023 was introduced by Representatives Haley Stevens (D-MI) and Young Kim (R-CA); in the Senate, Senators Susan Collins (R-ME) and Jacky Rosen (D-NV) introduced S. 1705, the STEM Educ

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Changes in Tax Law: The End of the Road for Conservation Easements

CTP

Navigating the Tax Code can be like trying to follow a map where the lines are constantly shifting. Every month, it seems like new guidance is released, new legislation is passed, or new cases are tried by tax courts, and suddenly, applying tax law has become a completely different game. Taxpayers are understandably confused, and if you work with clients who do a heavy amount of investing, they may come to you concerned that their tax strategy is being compromised by what they read in the latest

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Consumer Confidence Falls to a Four-Month Low in September

CPA Practice

By Reade Pickert, Bloomberg News (TNS) U.S. consumer confidence slumped to a four-month low in September, dampened by a deteriorating outlook for the economy and labor market. The Conference Board’s index declined to 103 this month from an upwardly revised 108.7 in August, data out Tuesday showed. The figure fell short of the median estimate of 105.5 in a Bloomberg survey of economists.

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Changes in Tax Law: Exchanging Your Conservation Easement Strategy for a Fee Simple

CTP

For the investment-focused landowner, conservation easements have served as a means to a substantial tax break. A conservation easement is when a landowner agrees to permanently limit their use of the land or ability to make changes to the buildings on it. This conservation may have environmental goals, such as improving water quality or forest growth, or historical purposes, such as maintaining a building’s façade.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Andersen rolls out global valuation practice

Accounting Today

The international network founded by a group of former partners from Arthur Andersen has unveiled a global valuation practice.

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Employee management tools to help your cash flow

Xero

With economic conditions putting pressure on Australian small businesses, owners are looking at different ways to maintain a healthy cash flow. Our ‘Money matters’ report showed that 61% of Australian small business owners increased their prices in the last 12 months to stay ahead of rising costs and make a profit. 27% also had to dip into their personal savings to manage their cash flow.

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The top cities to be an accountant

Accounting Today

Forbes Advisor has ranked the 99 best places for an accounting career.

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Xero Beautiful Business Fund: Apply now to upskill your team for the future

Xero

Running a small business often means you and/or your team need to wear a few different hats to get things done. You might be an expert plumber or talented hairdresser, but that doesn’t mean you have all the skills you need to run a small business. Filling that skills gap by investing in training is a great step that small businesses can take to set themselves up for success by building and retaining a great team.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Alternative Approaches To Paid Time Off Policy for Skagit County Businesses

SkagitCountyTaxServices

October is right around the corner. So is the October 15th extension deadline. And so is the fourth quarter for your Skagit County business. As we approach Q4, be mindful of the usual year-end accounting needs and reporting requirements that will be popping up. We’ll keep you informed of changes coming, but please do reach out proactively to begin preparing if you haven’t already: app.acuityscheduling.com/schedule.php?

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PwC Australia says lack of board oversight enabled tax scandal

Accounting Today

The firm said its risk controls were inadequate and its board didn't challenge leadership enough, following a months-long independent inquiry into malpractice.

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AICPA Unveils Its Most Desperate Pipeline Initiative Yet

Going Concern

Surely this will get the kids interested in accounting! She’s riding a skateboard because you can’t afford a car on a public accounting starting salary. From AICPA & CIMA’s Career Launchpad on This Way to CPA Why’s there a bearded hipster hanging out creepily in the back? Some appropriate Twitter reactions: Vibes: pic.twitter.com/p9pqErdnyG — Matthew J.

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Financial restatements surge among SPAC startups

Accounting Today

The number of companies that have restated their financial results or disclosed accounting problems has increased significantly in recent years.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Alabama Sales Tax Reform for Small Businesses

Dent Moses

Beginning October 1st, businesses with an average monthly sales tax liability of less than $20,000 will no longer be required to pay estimated sales tax to the state. The Alabama Department of Revenue will send a letter to those impacted. Click here to see the Alabama Department of Revenue Notice: ADOR sales tax change 10.01.23 Click here for a complete copy of the bill: Alabama Bill HB77 – sales tax The post Alabama Sales Tax Reform for Small Businesses appeared first on Dent Moses, LLP.

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What CPAs can learn from Smucker's

Accounting Today

How do you get as much benefit as possible from in-office collaboration while giving as much flexibility to work remotely?

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What is Neuralink technology?

Reckon

Neuralink is a startling, sci-fi-esque technology company backed by Elon Musk and a team of bright sparks. Founded in 2016, the company is driven to create brain implants to treat a range of neurological disorders along with an interface between the user’s brain and digital devices. The company states its mission clearly, “Create a generalised brain interface to restore autonomy to those with unmet medical needs today and unlock human potential tomorrow.

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Everything You Do in Your Firm is Sales

Ryan Lazanis

Beyond client acquisition, I discovered that sales permeates all aspects of effective business management. In this episode, I shared the importance of sales and how to incorporate it into your firm’s processes. Listen Below. 1:05 – At the outset of establishing my accounting firm, I dreaded sales calls, grappling with low self-assurance and a challenging learning curve as an introvert. 1:33 – Emphasizing a sales-oriented approach to recruitment is key to attracting the right ca

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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Gen Z Employees Aren’t Checked Out at Work, They’re Hungry for Mentorship

CPA Practice

By Shalene Gupta, Fast Company (TNS) The future lies with the next generation, and to understand this, pundits are peering into their crystal balls, trying to figure out what Gen Z wants from work. Adobe surveyed over 1,000 Gen Z employees with up to three years of work experience. Here are the highlights: They’re on board the generative AI train: 50% say they use it in their work but only 35% say their employer has implemented guidelines on using generative AI, and 59% say they are not worrie

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Getting Started With Sage Intacct Dashboards for Financial Reporting

Withum

In today’s evolving market, transparency is pivotal. Sage Intacct ’s dashboards are screen accessible through a desktop or mobile device. It displays numerous elements, including performance cards, lists, graphs, charts, and reports. Dashboards may be set up as public (available to anyone at the company with a Sage Intacct login) or private (available only to the individual user).

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Tax Strategies for Landowners: What’s the Deal with Conservation Easements? 

CTP

The world of tax law has a reputation for being complicated. This is certainly true, not only because the Tax Code can be difficult to interpret and confidently apply to real-life situations, but also because the rules are constantly changing. As legislators pass new measures and the IRS advocates for new regulations, taxpayers and tax professionals alike find themselves in constantly shifting waters.

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Vendor Spotlight: Laurel

Accounting Today

In this week's Vendor Spotlight, we catch up with Laurel, the AI-powered time tracking software solution.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.