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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. By Roman H. Kepczyk, CPA.CITP, CGMA. But first, let’s define “amazing” from a historical context.
We’re excited to share some new apps in the Xero App Store : Caseware and Wagepoint. These apps bring key capabilities into the Xero platform, to simplify your year-end workflows, payroll and compliance. It’s all part of our work to make life better for people in small business and their advisors across Canada.
Tired of everyone telling you that you need to modernize your accounting operations, but not telling you how to actually do it? This session will empower you to: Understand how to select your accountingapps and develop your innovation strategy.
The requirements for small businesses and their accountants are due to be phased in over 2026 and 2027. What this means for accountantsAccountants can play a crucial role in supporting businesses as they comply with the new climate reporting requirements. You can find carbon footprinting apps in the Xero App Store.
The alarm bells in accounting have been ringing for years: fewer people want to join – or stay – in the profession. The American Institute of Certified Public Accountants (AICPA) said in its “2023 Trends” report that the percentage of accounting graduates fell 7.8% Accounting roles must evolve to allow for this shift.
I love attending accounting conferences. This comes as a surprise to no one who knows me (or even knows of me) Ive been featured in countless promo reels, given interviews on the topic, written tips & tricks articles, and talked up the amazing Accounting Cornerstone Foundation (more on them later) endlessly. Whats the point?
” Streamlined Workflow Automation : Built-in workflow tools simplify approval processes and improve accountability, making it easier to manage complex business operations. Audit trails that help determine who changed what and when.
This webinar will be held on Thursday, December 5, 2024 at 1:00pm ET Sponsor: Canopy Software Duration: 1 Hour Register Now Join us for an insightful webinar designed to help accounting firms transform their workflows by first identifying and understanding their core and additional services.
From 2017 to 2022, Navy Federal charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases, even when their accounts showed sufficient funds at the time of the transactions. The Consumer Financial Protection Bureau (CFPB) has taken action against Navy Federal Credit Union for charging illegal overdraft fees.
” This stark observation from Haley Reyners, founder of My Two Cents Accounting Services , highlights a common challenge facing small businesses. Check out Paidnice in the Xero App Store. “When my debtor workflow is turned off, people stop paying me almost immediately.”
As you embark on your career journey into the world of accounting, you’ll find that your first years can be full of twists and turns. And technology can make the budgeting process easier for young adults – with plenty of apps available to help get started and track progress. By Mark Thomas.
Prioritize learning, not just doing : Set aside time each week to learn something new—whether it’s related to accounting or not. Leverage technology mindfully : Use apps and tools to streamline your workflow, but be intentional about it. The future of accounting isn’t about who can crunch numbers the fastest.
A recent survey has found that while small businesses still primarily use accounting software to record and manage transactions, usage dropped from 85% to 68% from April 2023 to July 2024.
States’ sales taxes account for almost 30% of state tax revenue, but most sales taxes are imposed on narrow and still-narrowing bases, according to a new report from the Tax Foundation. accountable for not collecting an appropriate amount of sales tax on the promotional gift cards given with certain purchases. Time for a renovation?
Conference activities centered around small business practices, advisory services, professional tax services, and accounting firm management will be held from October 28-30. Under his leadership, Intuit has transformed from a tax and accounting platform to the global financial technology platform.
When you scan QR codes with a smartphone, you can access prices, instructions, product information and even payment apps. Such schemes enable fraudsters to access victims’ account. But as with most technologies, fraud perpetrators have found ways to exploit QR codes — and steal from consumers and businesses.
You can now electronically submit amended accounts, we’ve added additional notes on FRS 105 and 1021a allowing you to explain any changes and a handy file button to complete the submission. For US accountants, a key compliance update has been implemented to the Schedule C report.
Prioritize learning, not just doing : Set aside time each week to learn something new—whether it’s related to accounting or not. Leverage technology mindfully : Use apps and tools to streamline your workflow, but be intentional about it. The future of accounting isn’t about who can crunch numbers the fastest.
The ambiguity could lead to double taxation, with multiple entities paying taxes on gross receipts from the same ad being served to a viewer , and “ lawmakers have failed to take the complexity of digital advertising into account in structuring the proposed tax ,” the Foundation added.
For years, accounting has been weighed down by manual data entry, siloed departments, and hours of tedious reconciliation. Accounting automation software flips that script, offering smarter, faster, and more reliable financial processes. But make no mistake accounting automation software doesnt replace accountants.
Were proud to offer: A powerful accounting platform: Our platform is easy to use and packed with features designed to simplify complex tasks and give you a clear view of your finances. What does it mean for accountants and bookkeepers? What does Your business supercharged mean for you?
Even though the marketplace is collecting and remitting the tax on their platform, these sales need to be accounted for to determine whether you’ve reached economic nexus thresholds. Check out our app! Managing the process Calculating sales tax. Choosing the right shopping cart/platform can get you started here. Using Shopify?
HR Dive discusses the recent CPE situation at EY : A recent scandal involving online training at Ernst & Young has pulled back the curtain on the time and ethical pressures accountants and finance teams are under to balance the demands of client work with ongoing professional training requirements.
In today's digital age, the convenience of instant money transfers has become a staple in our daily lives, thanks to platforms like Venmo, Cash App, and Zelle. While these apps excel in peer-to-peer transactions, they may fall short when it comes to meeting the needs of small businesses seeking reliable payment solutions.
Your accounting team plays a key role in streamlining invoicing and collections processes, while your operations team can help ensure that projects are completed and billed on time. Having your accounting team interact with your primary point of contact is not a good idea. It needs to be directed from the top across departments.
Chaser , the leading accounts receivable platform, is proud to mark its 10-year anniversary. By implementing AI and automation into these aspects of accounts receivable management, Chaser helps businesses save time, improve cash flow, and reduce reliance on manual processes.
Exhibitors will be showcasing the best new products, tech, software, services and solutions in the world of accounting. It lets accountants and clients submit quarterly updates from spreadsheets without full software migration. Wolters Kluwer has also Launched CCH iFirm Personal Tax and CCH iFirm Accounts Production for U.K.
To accelerate our mission to provide powerful insights, we are thrilled to share that Xero is acquiring Syft, a leading global cloud-based reporting, insights and analytics platform for small businesses, accountants and bookkeepers. Today, Syft is available through the Xero App Store as an app partner.
Xerocon is fast approaching: the best forum to hear about the latest innovations within Xero, get inspired and connect with other accountants and bookkeepers. There could be an app that beautifully solves their problems that you can get familiar with and endorse, allowing you to level up your advisory offering. Explore the options.
This initiative celebrates Xero’s valued accountants, bookkeepers, and app partners by putting them in the spotlight and recognizing their commitment to excellence and ongoing support of the small business sector. Back in July, we announced the launch of the first-ever Xero Awards in Canada.
Well be diving into everything from team building to using AI effectively in your business, and, of course, we’ll be showcasing the latest innovations from Xero and our third-party app partners. Wed love to know what you want to hear about, and who you want to hear from.
Xerocon Sydney is just weeks away on 23 and 24 August, and the ICC exhibitor floor will be full to the brim with some of the best and most loved apps, tools and services for accountants, bookkeepers and small businesses. FYI FYI is the go-to practice software for accountants who prioritise efficiency and productivity.
KPMG Digital Gateway adds gen AI capacities; Chime now offers in-app tax filing; Financial Cents new ReCats tackles uncategorized client transactions; and other accounting tech news
With our suite of mobile apps, you have real-time information about your business or practice at your fingertips, and can tick off those smaller tasks on the go. We’ve recently dialled up enhancements to our mobile apps, making it easier than ever to work from anywhere.
Modulr , the embedded payments platform, today announces its acquisition of Nook , an innovative disruptor in accounts payable (AP) automation. These are significant concerns, as highlighted by Modulr’s survey of 250 accounting practices which revealed that nearly half (45%) of respondents spend over three hours per week on manual data entry.
It helps businesses build automated processes to manage inventory and orders, provides modules for accurate accounting and reporting, and ensures greater productivity and smarter decisions through near real-time data for sales, inventory, and finance. Sign up and start a free Acterys trial with an expert at your side here: Acterys App Trial.
It’s a chance for us to show our appreciation and admiration to the many incredible accounting, bookkeeping, and app partners in our community. This year’s awards evening, which took place at Ministry Venues, Elephant & Castle, showcased the achievements of the “rockstars” of the accounting world. The post Oh what a night!
Delivering powerful, integrated tools for our accounting and bookkeeping partners to help their small business clients is a key focus for us at Xero. This means less tedious work leading to faster review and finalisation of client accounts, tax returns, and financial statements.
In today’s rapidly evolving accounting landscape, embracing cloud technology is no longer optional – it’s essential. The cloud adoption challenge Adam (Xero): Brian, what’s the biggest hurdle you see accountants facing when it comes to cloud adoption? Xero alone integrates with over 1,100 connected apps.
It’s the perfect time to not only meet some of the apps being exhibited at this year’s Xerocon, but hear real-life stories on how connecting apps with Xero can streamline your work and expand your possibilities. So, how can you prepare ahead of time to meet the app exhibitors, ask the right questions and come away empowered?
A year ago, we shared our vision to reimagine accounting using AI and mobile , recognizing the transformative potential for small businesses and the industry. JAX meets you where you are, integrating with your favorite apps on the go Business owners are busy running their day-to-day operations.
App and Software Developers should know that Insightful Accountant offers 'FREE' feature content, including App Aware and First Look features covering their app or software and Advisor Alliance articles covering their partner programs.
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