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

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Xero

MAY 24, 2023

It’s often said that (almost) no one goes into business to do their own accounting. For those on the Xero platform, collaborating with your accountant or bookkeeper is simple via the cloud. To make things simpler, we’ve added automatic refresh to bank rec just in time for EOFY. What Xero tip would you add to this list?

bookkeeping 89

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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. This not only enhances the efficiency of tax and accounting processes but also improves the overall quality of financial reporting.

Tax 101

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Basis 365

NOVEMBER 30, 2023

One critical aspect is the management of accounts payable (AP). Effective accounts payable strategies not only streamline the payment process but also contribute significantly to better cash flow management. Make sure your accounting team is implementing as many of these as possible.

accounts payable 102

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FraudFiles

MAY 2, 2022

Miles Mason, a Memphis divorce attorney, has a great article on his blog called Grab the Documents: What Spouses Need to Copy for Divorce Lawyers. If you have access to any bank, credit card, or investment accounts online, it’s advisable to go into the accounts and download all available statements and supporting documentation.

Real Estate 52

Real Estate income tax tax return financial statements 52

xendoo

MARCH 17, 2022

In this blog post, we will discuss how online bookkeeping works and how it is crucial to business growth! Historically, small business owners would partner with a local accounting firm, hire an in-house bookkeeper, or do the bookkeeping themselves with a calculator, pencil, and paper. . Going Digital. 24/7 Financial Visibility.

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PYMNTS

NOVEMBER 25, 2020

Plus, Zact introduces its expense management solution, Monit adds new small business Banking-as-a-Service features and Plaid teams up with Jack Henry. 24) blog post , improving on last year's version that only worked with brands. The features will be available next year, according to the blog post. 24) announcement.

B2B 91

B2B Finance accounting and finance Expense Management 91

ThomsonReuters

NOVEMBER 15, 2023

For accountants, understanding the ins and outs of tax deductions for charitable contributions , including how to properly report monetary donations using Schedule A, is an essential part of tax planning for clients. Collect all relevant receipts, statements, and documentation for the various deductions you plan to itemize.

Tax 94

Tax tax return tax planning income tax 94

xendoo

DECEMBER 6, 2021

In this blog post, we will help you strategically chart your path for success, so you can be ready for a new year of growth! Analyze your business’s performance from the previous year by reviewing your key financial statements. Click here for more details on the financial statements. . Xendoo can give you your time back.

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ThomsonReuters

JULY 6, 2023

If you are an accounting professional who has been contemplating a change in career path, you’re not alone. Accountants have the knowledge and experience necessary to work as trusted advisors to the public or within a company, so your certification qualifies you for a variety of career paths. Why are so many accountants quitting?

Account 98

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PYMNTS

JULY 27, 2020

Hackers boasting that they have “cracked” some of the hashed passwords stolen from digital banking aggregator Dave may be one of the most disturbing elements to emerge from the cyberheist that exposed the private information of millions of users, a top expert notes.

Account 98

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Shay CPA

FEBRUARY 28, 2024

Plus, getting things in order before you go to your accountant can streamline the process, helping you avoid extra expenses like troubleshooting services from your bookkeeper or rush-order billable hours with your CPA. That can give you and your accountant a good foundation to build on for this year. Amazon, Staples) Payroll (e.g.,

Tax 52

Tax CPA bookkeeping tax preparation 52

ThomsonReuters

JUNE 16, 2023

When one thinks of accounting fraud, it is likely that these are some of the cases that come to mind. However, most cases of accounting fraud will not make news headlines and can happen in companies of all sizes and industries. When someone is found guilty of committing accounting fraud, they are subject to criminal prosecution.

Account 93

Account accountant accounted financial statements 93

Xero

AUGUST 24, 2022

It was the perfect location to reconnect with our valued accounting and bookkeeping partners, and share some exciting plans for new tools and features designed to make inventory management, bank reconciliation and tax management simpler and more seamless. Syncing BMO transactions to your Xero account.

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Lockstep

JUNE 1, 2022

As the Federal Reserve tightens interest rates at the highest level in over 20 years, it’s a good time to review your manual accounts receivable (AR) processes to seek out your unresolved cash traps. Even with rates on the rise, bank lending is accelerating faster than in recent years. Guest Blog by Ryan Waldo, Lockstep.

Account 75

Account accountant accounted Technology 75

xendoo

DECEMBER 15, 2021

In this blog post, we are exploring the top 5 benefits of catch up bookkeeping ! . The Opening Balance is the amount of money in your bank account at the beginning of a new financial period, such as the start of the month. Financial Accuracy Through Bank Account Reconciliation . It is a vicious cycle.

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Xero

AUGUST 25, 2022

This is great news because as Chris said during our conversation, “what gets measured, gets managed” and it’s our hope that the insights this program provides will help shape policy, and assist academics, accountants, bookkeepers, and small businesses themselves to understand and improve this sector. Building a community-powered platform.

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Shay CPA

MARCH 16, 2023

Akshay Shrimanker, our Founder and CEO, recently joined Blake Oliver, David Leary, and a panel of other accounting experts (Mike Moiśe CPA, Matthew May CPA, and Reynaldo Arellano CPA) on a special episode of the Cloud Accounting Podcast. The immediate impact After $42 billion was pulled from SVB accounts, the writing was on the wall.

Technology 52

Technology CPA accounting and finance accounts payable 52

Xero

NOVEMBER 15, 2022

GoCardless – Automatically debit your customer’s bank account when your Xero invoices are due with this bank-to-bank payment method. Dext Prepare – Collect and extract data from paperwork like receipts, invoices or bank statements with 99% accuracy, then automatically process it to Xero.

E-commerce 88

E-commerce Approval Workflows payroll Sales 88

ThomsonReuters

JUNE 22, 2022

Most business owners have a traditional understanding of what an accountant does. Prepare financial statements. She hired an accountant and eventually went back to work full-time and had two more kids. As a working mom of four with a successful business, she was initially content with the traditional accountant relationship.

bookkeeping 98

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PYMNTS

SEPTEMBER 16, 2020

PSD2 and open banking regulations were forged to accelerate competition in the financial services arena, and this week, a look at the latest initiatives reveals the opportunity for new market entrants to rival incumbents in the small business banking arena. Payoneer Debuts Program For Banks. Banking and accounting for U.K.

Technology 56

Technology payroll tax payroll Tax 56

Xero

JULY 31, 2022

Other improvements include separate bank account prefix and bank account number fields (Australia, UK and US), and better error messaging. View your Xero balance in the Xero Accounting app — Global. A newly released feature in the Xero Accounting app allows you to see your overall cash balance on the home screen.

payroll 84

payroll accounting apps income tax quickbooks 84

Ronika Khanna CPA,CA

NOVEMBER 17, 2023

Upwork or Fiverr Short term accommodations e.g. Airbnb Task based platforms e.g. taskrabbit or pet sitting services E-commere selling e.g. ebay, Amazon and affiliate programs Writing/Blogging which generates revenue either by selling articles to publications or via ads on their website Virtual assistants, online surveys, tutoring etc.

Tax 52

Tax E-commerce audit income tax 52

Withum

AUGUST 23, 2022

Taxpayers who may have stretched the bounds of proper compliance, or where an error has been identified, should consider filing an amended return before they are contacted by the IRS, though care should be taken because an amended return is an additional statement by the taxpayer that can be used against him in future proceedings.

Account 59

Account accountant accounted tax return 59

PYMNTS

MAY 22, 2019

A new service launched Wednesday (May 22) called Plaid Direct enables “two-way connectivity across the financial ecosystem and makes it easier for consumers to move money between their accounts — whether it’s in a neobank, FinTech, or big box bank account,” according to a statement from Plaid.

Account 76

Account accountant accounted Technology 76

xendoo

APRIL 13, 2023

At Xendoo, we know you didn’t start a business to do the accounting and taxes; but we did. In this blog post, we’ll explore the necessity of catching up on your bookkeeping and how it will benefit your company. To start, let’s look at why keeping your books up to date year-round will help your business.

bookkeeping 52

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xendoo

APRIL 13, 2023

At Xendoo, we know you didn’t start a business to do the accounting and taxes; but we did. In this blog post, we’ll explore the necessity of catching up on your bookkeeping and how it will benefit your company. To start, let’s look at why keeping your books up to date year-round will help your business.

bookkeeping 52

bookkeeping accounts payable bookkeeping services Start-ups 52

ThomsonReuters

OCTOBER 12, 2023

For accountants, understanding how to navigate foreign asset reporting is essential, as the IRS requires taxpayers to report certain foreign assets to ensure compliance and combat tax evasion. You may be obligated to do so if you meet certain criteria, such as having foreign financial accounts exceeding certain thresholds.

Real Estate 40

Real Estate tax return Tax tax preparation 40

PYMNTS

DECEMBER 16, 2018

According to a report in Bloomberg , when Robinhood announced the products last week , it compared them to traditional bank accounts, boasting a 3 percent interest rate on both checking and savings. I disagree with the statement that these funds are protected by SIPC,” Harbeck told Bloomberg late last week.

Account 76

Account accountant accounted 76

PYMNTS

JANUARY 30, 2020

Banks and FinTechs continue to discover new opportunities in unlocking corporate clients’ financial data, with banks embracing data integration for their own product development initiatives, and FinTechs finding new ways to collaborate with each other. AccountantsWorld Unlocks Payroll Data for FinTechs.

payroll 64

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Xero

MARCH 26, 2023

Even as you’re busy reconciling your bank statements, AI is right there suggesting the best matches from your contacts and accounts. The good news is that there is a really simple way to avoid these negative consequences, and this is to keep accurate, up-to-date and consistently categorised accounts.

Technology 109

Technology Account accountant accounted 109

Ronika Khanna CPA,CA

FEBRUARY 10, 2023

The revenues and expenses are reported on a business declaration form , which forms part of the regular personal tax return or T1 (TP1 in Quebec) and is referred to as the T2125 - Statement of Business and Professional Activities. What type of accounting system should you use? What type of businesses are required to prepare a T2125?

tax return 52

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PYMNTS

MAY 29, 2020

Starling , a United Kingdom-based digital bank, has raised $49 million in a funding round led by its investors Merian Chrysalis Investment Co. The latest infusion comes just months after the digital bank raised $74 million from investors. million accounts, including 155,000 business accounts, and holds a 2.6

accounting and finance 52

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LyfeAccounting

JANUARY 6, 2021

A positive cash flow means that your company is adding more cash to your account than it’s losing. A negative cash flow means that your company is burning more cash from your account than it’s adding. Before I go into the cash flow statement, you need to understand how cash flow is calculated.

CPA 52

CPA accounting and finance financial statements Finance 52

Accounting Insight

NOVEMBER 29, 2022

Accounts payable automation, also known as AP automation or invoicing automation, is the process of automating accounts payable processes and activities while collecting the critical data required to make smart decisions, improve efficiency, and grow your business. Reconciling bank statements. Entering payments.

Accounts Payable Automation 52

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Shay CPA

FEBRUARY 15, 2023

Plus, getting things in order before you go to your accountant can streamline the process, helping you avoid extra expenses like troubleshooting services from your bookkeeper or rush-order billable hours with your CPA. That can give you and your accountant a good foundation to build on for this year. Amazon, Staples) Payroll (e.g.,

Tax 52

Tax CPA bookkeeping tax preparation 52

ThomsonReuters

OCTOBER 19, 2023

In this case, the bond holder essentially assumes the same role as a bank lending a 30-year mortgage to a home buyer. Much like the bank receiving regular payments over the life of the mortgage loan, the bond holder receives regular payments of both principal and interest until the bond reaches maturity.

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