Going Concern

APRIL 24, 2025

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs.

Real Estate

Accounting Today

JULY 3, 2025

Further, developers previously needed to manually create document templates and write scripts to populate them from databases or user inputs, often resulting in inconsistent formatting and limited scalability, but with new API access they can generate formatted contracts, letters and more directly from JSON or form data using predefined templates.

Technology

TaxConnex

JULY 18, 2024

Proper documentation allows auditors to interpret and verify your financial transactions accurately. This can lead to auditors assuming transactions are taxable, or making historical projections or arbitrary assessments of taxable sales. This separation helps in clearly identifying and tracking sales tax amounts.

audit

TaxConnex

APRIL 28, 2022

In years past, auditors could show up at your door asking to look at your records. Many audits are conducted remotely, and an auditor never visits your office. Auditors can tap different data sources to select audits more accurately based on the level of risk, and to use new tools to automate the repetitive tasks of an audit.

audit

TaxConnex

NOVEMBER 29, 2022

Unfortunately, there’s no playbook for determining the company profile that will attract a state’s auditors, but there are measures you can take to assess your exposure: Understand physical and economic nexus. ?Physical Also be careful who the auditor has access to and what areas of your business they have access to. First moves.

audit

SMBAccountant

OCTOBER 21, 2020

These costs must be recorded in separate general ledger accounts to be easily identified and excluded from any billing. DCAA provides an excellent online reference tool, the Selected Area of Cost Guidebook, for contractors and auditors alike to review costs for allowability.

Government

TaxConnex

JULY 9, 2024

General ledger management Your GL is a key reconciliation point to make sure you’re capturing all sales tax that you’re remitting and that you get the credits and adjustments you have coming, such as vendors’ discounts. Auditors will ask for data and any replated invoices. Double-check the presentation of your invoices.

Sales

TaxConnex

APRIL 4, 2023

One of your customers undergoing their own sales tax audit might unearth one of your invoices, resulting in the auditor possibly contacting you for a certificate of exemption or other documents. An audit of one of your suppliers could turn up one of your exemption certificates for something the auditor may think is taxable.

audit

CPA Practice

MARCH 4, 2024

Auditors, like so many others today, are seizing the opportunity to transform how they work by adopting artificial intelligence. These findings make it critical for those of us in the audit profession to help the next generation understand the vision and opportunities that await those who choose this career path as auditors embrace AI.

auditor

CPA Practice

SEPTEMBER 26, 2024

Thomson Reuters recently launched Thomson Reuters Audit Intelligence, a suite of artificial intelligence-powered, data-driven audit solutions designed to transform audit practices by reducing errors and enhancing confidence while enabling auditors to realize efficiency gains. this fall, followed by the United Kingdom in 2025.

auditor

Withum

APRIL 27, 2022

Many nonprofit organizations have limited resources and often the finance team also supports the general operations. The accounting system is the basis for reports that must be provided to grant agencies, prospective donors, lenders, its independent auditors, tax preparers, the Board of directors and management. .

general ledger

SMBAccountant

OCTOBER 21, 2020

These costs must be recorded in separate general ledger accounts to be easily identified and excluded from any billing. DCAA provides an excellent online reference tool, the Selected Area of Cost Guidebook, for contractors and auditors alike to review costs for allowability.

Government

ThomsonReuters

MAY 12, 2022

Auditors examine financial documents and compare total sales revenue with sales that resulted in the collection of sales tax. This survival guide offers strategies and tips from former auditors on how indirect tax teams can avoid audits and minimize their effects. Treat the auditor with respect. What is a sales tax audit?

audit

PYMNTS

AUGUST 12, 2020

Palette allows these firms to ingest invoice information from suppliers in an expedient fashion, handle invoices with an automated process for approvals, and provides a trail that auditors can examine. Administrators can also provide some access to the search system to auditors.

AP Automation

Withum

JANUARY 24, 2023

Establish Expectations and an Open Line of Communication With Your Auditor Communication can make or break an audit. Make it a priority to answer all emails and phone calls from your auditor in a timely manner. Auditors can only work as quickly as the requested information is provided.

audit

CPA Practice

SEPTEMBER 12, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss Audit Sight , a technology platform that eliminates manual work for auditors, diligence and private equity providers by automating financial transaction verification. Use the podcast player below to listen. But you know, where we’re gonna be in the audit territory today?

Technology

Airbase

NOVEMBER 15, 2023

ERP/General ledger vs transaction solutions. ERP/General ledger vs transaction solutions. Auditors and reviewers can swiftly verify the accuracy and compliance of financial records, reducing the time and effort to manually gather and reconcile this data. Table of Contents FirstHeading What is AP automation?

AP Automation

Going Concern

SEPTEMBER 25, 2023

In that capacity, Urban was responsible for maintaining the company’s general ledger, preparing financial statements, and reconciling the company’s accounts payable and receivable and bank statements.

tax preparation

Withum

FEBRUARY 6, 2023

The taxing authority auditor’s request to pull invoices substantially decreased. Achieve automation through workflow, dashboard alerts, and saved searches , especially with processing vendor invoices and exposing the capability to view the invoice online and drill back to the General Ledger details.

tax preparation

Withum

AUGUST 11, 2022

In addition to the routine payroll audit program, there are three general categories of audits that should be selected for testing: For-Cause Audits: From time to time, the trustees may be alerted to potential reporting issues from the plan administrator, plan collections counsel, members, or other employers.

payroll

Withum

OCTOBER 23, 2023

The end result of the inventory count process is to confirm the inventory on hand and reconcile the inventory sub-ledger to the inventory accounts on the general ledger for your audit.

NetSuite

ThomsonReuters

JANUARY 12, 2023

Today’s auditors face a challenging tax environment. From data collection to ever-evolving standards, more and more auditors are turning to technology to automate their audit workflow. . An end-to-end online audit solution with seamless data flow across tools helps auditors get more work done in less time. .

Technology

ThomsonReuters

APRIL 6, 2023

It includes all of the bills a company owes to vendors and suppliers for goods and services provided to the business before they are paid. Because accounts payable entries are not immediately paid, they are listed as a current liability on a business’ general ledger and balance sheet.

accounts payable

Ryan Lazanis

NOVEMBER 9, 2022

If you’re looking to automate accounting processes in 2023, here are some steps you can take: 1) General Ledger Accounting Software. accounting automation software) for your general ledger is far superior to desktop accounting software when it comes to automation. How to Automate Your Accounting in 15 Key Areas.

Technology

PYMNTS

AUGUST 5, 2016

The CEO explained that, traditionally, accountants would print out reconciliations and store them in binders; auditors would then take a sample of those reconciliation documents and match those against the general ledger. “That is an unbelievably antiquated way of testing anything,” Tucker stated.

Technology

Cherry Bekaert

APRIL 4, 2023

Take the time to reconcile your quarterly 941s back to the general ledger in advance, or take the opportunity to delegate to a junior staff for training opportunities. Preparation of this can alleviate issues down the line with the DCAA or other auditors. Auditors are quick to deem an ICS inadequate for a variety of reasons.

general ledger

Withum

DECEMBER 7, 2023

The company stakeholders in investigation engagements can include company management, a board of directors, an independent auditor, regulator or counsel.

forensic accounting

Ryan Lazanis

MAY 24, 2023

Take all of your accounting functions into the cloud, not just your general ledger. What AI has brought to the field is a way to use technology to run through as large of a data set as you want, in great detail, to point out risks that you might not have previously seen through the samples an auditor had selected.

Technology

Cherry Bekaert

JUNE 27, 2024

Although a criterion may not be applicable for the contract type contemplated, DCAA generally will evaluate and report on that criterion anyway. Make sure the accounting, billing, payroll processing, and management individuals are available and ready to meet with the DCAA auditor. They are “yes,” “no” and “na” (not applicable).

accounting system

Going Concern

MARCH 17, 2023

creating general ledgers, organizing financial statements, and handling pricing and invoicing. Debunking common myths about auditors, auditing [ The Journal Record ] The people of Oklahoma get a lesson on what audit is.

Government

CPA Practice

JUNE 29, 2023

Now, Brian claims that he is a recovering auditor, I don’t think you ever get audit blood out of yourself at least listening to him, that’s for sure. Podcast Transcript (Add apx 10 seconds to time stamps due to intro.) Randy Johnston 00:03 Well, good day. Welcome to Technology Lab. I’m Randy Johnston with my co host, Brian Tankersley.

Technology

Going Concern

OCTOBER 7, 2024

Highlights: Finance leaders believe technology can improve audit quality : Just over half of respondents anticipate technology will enhance audit quality (54%); however, finance leaders continue to place high importance on auditor industry knowledge and professional skepticism as contributors to a high-quality audit.

accounted

Xero

APRIL 1, 2025

Once thats done, Sumday can pull in your general ledger data for you, minimising the need for manual data entry. From there, you can calculate emissions data, generating estimates, and running reports. Carbon trial balance and carbon general ledger report: Easily access detailed reports that break down your total footprint.

general ledger