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Is it time to upgrade? Tips for changing accounting systems in 2025

Accounting Seed

Changing accounting systems can feel intimidating. Even if the legacy accounting system you currently use doesnt have the features, speed, or power you need, at least its familiar. Sometimes though, the benefits of switching to new software begins to outweigh the cost of learning a new system.

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Understanding Cash vs. Accrual Accounting

Withum

Ultimately, the modified cash basis offers a flexible accounting solution, allowing businesses to maintain more straightforward reporting while achieving a more accurate financial picture than cash-based accounting alone. Let’s Chat The post Understanding Cash vs. Accrual Accounting appeared first on Withum.

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Demand for Automation in Sales Tax Compliance is Rising, Avalara Says

CPA Practice

Disparate ways of identifying tax changes: Getting and staying informed is crucial for independent retailers to meet tax obligations. Eighty-eight percent of respondents stated it’s “very important” for compliance automation software to connect with platforms they already use, such as ecommerce, payroll, and accounting systems.

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Financial Forecasting: How 3-Way Forecasts Help Predict Future Business Performance

Withum

Without the input of economic future predictions, you operate the business with uncertainty for the future, and your financial decisions could be ill-informed. The most accurate forecasts are built using several components, including internal and external factors and qualitative and quantitative information.

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Case Study: Enhancing Financial Processes for Growth and Audit Readiness

Withum

Streamlined accounting processes, resulting in more efficient and effective financial operations. A visible and tight close schedule that ensures monthly numbers, including consolidation, are finalized by the 15th of each month, enabling the client to make informed business decisions ahead of their recurring board meetings.

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An Expert’s Guide to the Year-End Close Process

Withum

Looking Ahead Closing the books and records for the year is focused on looking back at the year and making sure the accounting reports provide an accurate picture from a financial perspective. The financial information, however, is not limited to use in historical reporting.

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Sage Intacct Implementation Case Study for IAFC

Cherry Bekaert

The not-for-profit membership association partnered with Cherry Bekaert for a comprehensive diagnostic assessment of its people and technology, which led to outsourced accounting services and the implementation of Sage Intacct accounting system, along with bill pay, expense reporting and budget systems.