AccountingDepartment

MARCH 28, 2024

This is where client accounting services come into play. In this blog post, we will explore how client accounting services (CAS) streamline financial processes for businesses, highlighting the benefits of outsourcing accounting functions to improve efficiency and reduce administrative burdens.

Account 85

Account accountant accounted NetSuite 85

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

MarkFriedlich

MARCH 27, 2020

The post State Departments of Revenue Close Physical Locations, Encourage Online Services appeared first on Tax & Accounting Blog.

Tax 178

Tax Government Account accountant 178

ThomsonReuters

SEPTEMBER 25, 2023

According to the new report, “Future of Professionals”, 59% of tax and accounting professionals working at firms cited productivity as their top priority, and 55% selected internal efficiency as one of their top priorities. This can save time, reduce errors, and free up professionals to focus on more complex and creative work.

Tax 104

Tax Account accountant accounted 104

CPA Practice

JANUARY 20, 2023

Being an accountant means that work often comes in ebbs and flows. From the Thomson Reuters blog. A recent survey revealed that 82% of tax professionals identify as feeling burned out. It’s a significant issue for tax professionals and accountants. How does burnout affect tax professionals? What is burnout?

Tax 122

Tax Start-ups accounting software accounting meaning 122

CPA Practice

DECEMBER 19, 2023

Accounting and finance professionals are always on the lookout for tools that can help them become more efficient, productive and accurate in their work. Of course, to stay in demand, finance and accounting pros will need to ensure that they maintain relevant skills, especially when it comes to working with generative AI.

accounting and finance 121

accounting and finance Finance Account accountant 121

ThomsonReuters

JANUARY 8, 2024

Automation of routine tasks One of the most significant ways AI has revolutionized the tax and accounting profession is through the automation of routine tasks. Automation of routine tasks One of the most significant ways AI has revolutionized the tax and accounting profession is through the automation of routine tasks.

Tax 101

Tax Account accountant accounted 101

ThomsonReuters

FEBRUARY 8, 2024

Jump to: What are the main accounting assumptions? Going concern assumption: A closer look How do common accounting assumptions relate to GAAP? Accounting assumptions, along with accounting principles and concepts, provide professionals with the necessary framework for preparing financial statements.

Account 96

Account accountant accounted accounting principles 96

CPA Practice

MAY 18, 2023

From the Thomson Reuters Tax & Accounting Blog. Working in the tax and accounting industry can be a stressful job. That’s why it’s important for both tax and accounting professionals and their firms to take steps to protect their mental health. How can technology help accountants’ mental health?

Technology 98

Technology Account accountant accounted 98

ThomsonReuters

JANUARY 4, 2024

Take advantage of wellness benefits The numbers are in, and they reinforce the mental health challenges facing accountants. Nearly 9 in 10 accountants want a better work-life balance, while just over 70 percent would like more help from their organizations to manage mental health, according to ACCA’s Global Trends Survey 2023.

Tax 71

Tax Technology payroll tax accounting careers 71

ThomsonReuters

FEBRUARY 22, 2024

Developments in artificial intelligence (AI) are advancing rapidly all the time, and it’s set to play an increasingly important role in everyday life and the professional landscape. It is inevitable that in the next few years, it will impact – and even transform – how corporate tax professionals go about their work.

corporation tax 93

corporation tax Tax Technology audit 93

ThomsonReuters

JANUARY 31, 2024

But these inefficiencies are fixable thanks to advancements in technology that are making it easier than ever for tax professionals to access the tools to revamp their workflows and eliminate these frustrating inefficiencies. Tax season can be a stressful and hectic time for both tax professionals and their clients.

Tax 52

Tax Technology Account accountant 52

MarkFriedlich

APRIL 1, 2020

In Wolters Kluwer’s 2019 survey of tax and accounting professionals, we found that technology has helped firms the most within the areas of profitability and efficiency, but it is […]. The post 5 Metrics to Measure for Peak Performance appeared first on Tax & Accounting Blog.

Tax 150

Tax Technology Account accountant 150

ThomsonReuters

NOVEMBER 28, 2023

Jump to: Reflect on your current tax workflow Use automation to boost staff engagement and retention Unlock growth opportunities With staffing shortages of epic proportions, the accounting industry is facing a crossroads. But where do you begin? Let’s take a look. Reflect on your current tax workflow. Detect inaccuracies.

Technology 112

Technology Account accountant accounted 112

ThomsonReuters

AUGUST 2, 2023

It takes a combination of insight and determination to recruit the right talent for your accounting firm. Recently, respondents to the 2023 State of the Tax Professionals Report shared their top ten tips for a successful accounting firm recruitment strategy. Social media is a superb way to show your human side as well.

accounting firms 98

accounting firms Account accountant accounted 98

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

ThomsonReuters

JANUARY 29, 2024

Today’s accounting firm leaders are constantly grappling with two pivotal challenges: attracting top-tier talent and holding on to the people they have. Younger professionals who are digital natives have different career expectations. This generational shift is not just a numerical problem but also a transfer-of-knowledge issue.

Technology 52

Technology accounting degree tax preparation cpa firm 52

ThomsonReuters

NOVEMBER 9, 2023

There is no doubt that tax professionals are hard to find, let alone replace. In an era of staffing shortages and scarcity of technical tax professionals , accounting firms must increasingly look outside the box to fill gaps in talent. Many firms are shifting their hunt for talent beyond the traditional accounting background.

tax planning 105

tax planning accounting firms Tax Account 105

ThomsonReuters

JUNE 16, 2023

The accounting profession is in the midst of a transformation, and firms must ensure they are upskilling their accountants to remain competitive and keep pace. This article will explore how current technology can help accountants find the time they need to broaden their skillsets and further propel their career.

Account 98

Account accountant accounted Technology 98

ThomsonReuters

MARCH 6, 2024

AI in tax compliance is a top priority Artificial intelligence (AI) is a game changer for improving efficiency, cited as the top priority of tax and accounting professionals in our recent Future of Professionals report, with 75% of respondents in corporate tax teams rating it as a key concern.

Tax 88

Tax corporation tax Technology auditor 88

CPA Practice

JUNE 9, 2023

10 Top AI Application Uses Here are 10 AI uses for CMOs (Chief Marketing Officers) and CGOs (Chief Growth Officers) in the accounting industry. Content Creation: AI can generate content, such as product descriptions, blog posts, and social media updates, based on predefined templates and user data. Construction accounting can help!

Construction 98

Construction Account accountant accounted 98

ThomsonReuters

JULY 25, 2023

With these challenges come new opportunities for firms to streamline processes , reduce errors, and free up time for tax professionals to focus on higher-level tasks. “From a tax professional standpoint, we’re always trying to shoehorn that data into some system … there’s always an input that’s required in a certain format,” said Donohue.

tax preparation 98

tax preparation Technology Tax accounting firms 98

ThomsonReuters

FEBRUARY 8, 2024

Jump to: Unlocking the power of advisory tools Deliver advisory engagements with Checkpoint Edge Advisory Maps Grow your firm with Practice Forward Advisory tools have emerged as transformative forces in the tax and accounting profession, empowering firms of all sizes to deliver efficient and effective services to their clients.

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

APRIL 25, 2024

For accountants, you must also remind your clients that early distributions from qualified retirement plans or other tax-favored accounts may incur penalties and trigger the need to file Form 5329 – Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts. Other tax-favored accounts.

tax return 52

tax return income tax Tax Education 52

ThomsonReuters

JANUARY 16, 2024

Why is overall accountant wellness important? Making occupational wellness a priority Tax and accounting professionals are known for working hard, especially during tax season. Why is overall accountant wellness important? As an accountant, you face multiple pressures every day that can affect your health and happiness.

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

APRIL 25, 2024

As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.

South Dakota 52

South Dakota Rhode Island New Hampshire Wyoming 52

ThomsonReuters

AUGUST 1, 2023

Thomson Reuters set out to answer that question by surveying more than 100 CPAs who are currently employed as accountants. The results show that tax and accounting professionals know exactly what they want in an employer—and here’s how firms can heed the call. hours per week. hours per week, a reduction of about 12%.

Account 98

Account accountant accounted accounting firms 98

ThomsonReuters

FEBRUARY 5, 2024

The accounting profession is currently navigating through a transformative era. An aging workforce, a dwindling number of new college graduates entering the profession, and a lack of desire to pursue the partner path among existing employees make it challenging to attract new talent and retain experienced professionals.

Technology 40

Technology Tax cpa firm audit 40

CPA Practice

AUGUST 9, 2023

Year-end is right around the corner, which means quarterlies, tax preparation, and more for accounting firms. You can do this with your website search field or login to your site and search the blog content. I generated this list of 10 email subject lines for business owner tax deductions, which could also be used as blog titles too.

tax preparation 98

tax preparation Tax Entertainment bookkeeping 98

ThomsonReuters

JUNE 6, 2022

When you can flag changes in accounting, auditing, and tax that clients didn’t know about, and help them manage commercial impacts with innovative solutions, then you’re well on your way to gaining their trust. But how do you stay current on accounting and auditing standards when there are new developments happening all the time?

accounting standards 142

accounting standards Account accountant accounted 142

ThomsonReuters

APRIL 21, 2024

For corporate tax professionals, navigating the ever-evolving landscape of tax codes and regulations is often a daunting task. Tax and trade professionals could benefit from solutions that make it easier and faster to select the correct tax code in each case. The proposed H.R. How does AI help with product classification?

Tax 52

Tax corporation tax Technology tax planning 52

ThomsonReuters

APRIL 25, 2024

Keeping up with these changes while ensuring compliance can be a daunting task for accountants, leading to potential errors and inefficiencies in the preparation process. But there is a solution. By analyzing large datasets, AI systems can help auditors and accountants detect irregularities.

Tax 52

Tax tax preparation tax planning auditor 52

CPA Practice

MARCH 31, 2023

Technology continues to be a driver of growth for today’s successful accounting practices, and professionals know it, with a recent survey showing that 86% of respondents agree that technology will play a significant role in the growth and expansion of their practices in the next year. The survey was sponsored by Intuit Inc.,

Technology 128

Technology quickbooks Account accountant 128

ThomsonReuters

OCTOBER 4, 2023

Jump to: How many accounting firms use AI? How do smaller accounting firms use AI? In today’s fast-paced business world, ignoring technology is not an option, and the field of accounting is no exception. How many accounting firms use AI? How do smaller accounting firms use AI? For now, not many.

accounting firms 111

accounting firms Account accountant accounted 111

ThomsonReuters

APRIL 5, 2024

Lastly, interim tax reporting is crucial for complying with accounting standards and regulatory requirements such as FASB Accounting Standards Codification 740-270 Income Taxes (ASC 740). Stay informed and seek professional guidance: Keep abreast of the latest developments in tax regulations and accounting standards.

Tax 68

Tax income tax financial statements accounting standards 68

CPA Practice

JANUARY 23, 2024

Networking is essential for every accountant, and in the digital age, it’s easier than ever to make valuable connections in the field. While in-person events and meetings are still effective ways to network, many professionals are taking advantage of online networking opportunities. But you need to go beyond content as an accountant.

Account 72

Account accountant accounted B2C 72

ThomsonReuters

JANUARY 14, 2022

Being an accountant means that work often comes in ebbs and flows. A recent survey revealed that 82% of tax professionals identify as feeling burned out. It’s a significant issue for tax professionals and accountants. How does burnout affect tax professionals? Being an accountant is different.

Tax 98

Tax Technology Start-ups accounting software 98