CPA Practice

JANUARY 20, 2023

Being an accountant means that work often comes in ebbs and flows. From the Thomson Reuters blog. It’s a significant issue for tax professionals and accountants. How does burnout affect tax professionals? People experiencing burnout may find it hard to get their days started and even harder to keep going.

Tax 122

Tax Start-ups accounting software accounting meaning 122

ThomsonReuters

MARCH 8, 2024

As busy accountants, it’s easy to get stuck in survival mode. How can you build your service offerings to better serve your clients and grow your CPA firm through accountability? How can you build your service offerings to better serve your clients and grow your CPA firm through accountability?

cpa firm 96

cpa firm CPA Technology Tax 96

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). Why is interim reporting important? Moreover, interim tax reporting enables businesses to proactively identify and address tax-related issues.

Tax 68

Tax income tax financial statements accounting standards 68

ThomsonReuters

JULY 6, 2023

However, corporate tax teams find it difficult to automate this process. What are APIs and how do they work? For example, if two programs want to exchange data, they must define how the data will be formatted and how it will be sent. How can tax provision APIs streamline calculations? APIs have rules.

Tax 92

Tax general ledger corporation tax audit 92

CPA Practice

MARCH 8, 2023

Anyone who deals with property tax knows firsthand how complex it can be to manage, especially given how tax laws differ not only between states but even among local jurisdictions within the same state. Ask three organizations how they manage their property taxes, and you’ll get three different answers.

Tax 105

Tax Technology accounting and finance tax return 105

Xero

FEBRUARY 26, 2024

It hides in emails, paperwork, envelopes, statements, a myriad of supplier systems, and multiple bank accounts. Finding and entering this data from multiple sources takes up valuable time, and can be prone to human error – it can soon become a task that you dread to complete. To bring it into Xero, you first need to capture it.

Start-ups 84

Start-ups bookkeeping Account accountant 84

Accounting Seed

FEBRUARY 3, 2023

Here’s how to take control What was once a gentle push and recommendation to take your accounting to the cloud has become a mandate. Many of the big-name accounting software providers such as QuickBooks are officially ending support for desktop solutions. Do you need multiple apps to make your accounting system work as desired?

accounting software 98

accounting software Account accountant accounted 98

Accounting Seed

MAY 22, 2023

If you’re considering Salesforce, you should look at our blog, Salesforce Accounting: 10 Things Admins Should Know , which provides valuable insights into how to leverage the power of accounting in Salesforce. Already know about this platform and want to find the right accounting solution for Salesforce ?

Account 97

Account accountant accounted accounting and finance 97

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. The challenge for CPA firms is to create an environment and a career path that talented young people find appealing.

Technology 52

Technology accounting degree tax preparation cpa firm 52

ThomsonReuters

APRIL 26, 2022

Tax and accounting firms of all sizes need dependable systems and procedures to deliver the best value to their clients. Finding the right accounting software for your firm will keep business records organized, improve operational efficiency, identify areas for improvement, and help you manage growth over time.

accounting software 98

accounting software Technology Account accountant 98

Xero

AUGUST 22, 2022

This has a range of benefits but is especially useful when multiple people (like a small business owner, accountant and bookkeeper) are all accessing and making changes within Xero Payroll. This first phase will include employee records, such as the details, employment, taxes, bank accounts, pay template and opening balances tabs.

payroll 113

payroll bookkeeping audit Legal 113

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. AI-powered software can handle large volumes of data with speed and accuracy, significantly reducing the risk of human error.

Tax 101

Tax Account accountant accounted 101

ThomsonReuters

FEBRUARY 23, 2024

How can my company prepare for a potential sales tax audit? How can tax technology help when defending an audit? When and how should tax systems be upgraded? Broadly speaking, proactively preparing for a sales tax audit means implementing a series of best-practices to reduce (if not eliminate) errors in the first place.

audit 52

audit Sales Tax auditor 52

ThomsonReuters

NOVEMBER 2, 2023

How can firms stay competitive, deliver quality services, and achieve work-life balance amid these pressures? By leveraging automation, firms can reduce manual tasks, errors, and costs, while increasing speed, accuracy, and insights. The answer lies in tax automation.

Technology 52

Technology Tax tax preparation tax return 52

Airbase

DECEMBER 5, 2023

This blog explores the critical importance of these reports, delving into how they contribute to financial transparency, regulatory compliance, and the overall efficiency of business operations. Let’s take a closer look at business expense reports and how your business can optimize the process. Misclassifying expenses.

Approval Workflows 130

Approval Workflows Expense Management Entertainment Technology 130

ThomsonReuters

JUNE 29, 2023

As most of us know, tax and accounting automation involves s treamlining and standardizing tax inputs and workflow processes using technology. How do APIs help with automation? In fact, 70% of businesses that added automation to their accounting processes reported a stronger ROI. If so, that’s great!

Technology 98

Technology accounting firms Tax Account 98

ThomsonReuters

JUNE 16, 2023

Given the findings, one can only expect the IRS will continue to ramp up its compliance efforts. For instance, who must file a tax return and when those returns are due, how to file an extension, what must be included on the tax return etc. According to new data released in October 2022 by the IRS, tax gap estimates are on the rise.

Tax 97

Tax tax return audit auditor 97

ThomsonReuters

NOVEMBER 8, 2022

From enabling online ordering to facilitating remote work to overcoming labor shortages, technology can streamline accounting processes , improve the customer experience, and help scale businesses—even amidst a challenging backdrop. What is accounting technology? . Accounting?technology?is?the technology?is?the

Technology 94

Technology Account accountant accounted 94

ThomsonReuters

MARCH 6, 2024

Finding ways for people to work smarter is a key goal of many organizations today. Why waste time doing and redoing relatively basic jobs like data entry, and even higher-level work like document review, tax calculations, and compliance checks, when tech tools can do it quicker, more comprehensively, and with less risk of human error?

Tax 88

Tax corporation tax Technology auditor 88

TaxConnex

APRIL 13, 2021

Doing some quick research on the internet, you can find information on sales tax nexus, voluntary disclosures, sales tax calculation tools and more. Doing some quick research on the internet, you can find information on sales tax nexus, voluntary disclosures, sales tax calculation tools and more.

Sales 222

Sales Tax E-commerce general ledger 222

ThomsonReuters

APRIL 18, 2023

Unfortunately, despite how carefully statements may be prepared, financial reporting errors can happen. When there are errors in financial reporting, U.S. accounting standards require prior statements to be corrected and the corrections to be disclosed. What are financial statement errors?

financial statements 52

financial statements accounting standards accounting and finance CPA 52

ThomsonReuters

JANUARY 14, 2022

Being an accountant means that work often comes in ebbs and flows. It’s a significant issue for tax professionals and accountants. How does burnout affect tax professionals? People experiencing burnout may find it hard to get their days started and even harder to keep going. Being an accountant is different.

Tax 98

Tax Technology Start-ups accounting software 98

ThomsonReuters

OCTOBER 24, 2023

Data consolidation challenges, complex calculations, and reporting requirements can turn the trek into a daunting ordeal fraught with time-consuming inefficiencies and greater risk of errors. based CFO Consultants, in a blog post. accounting software, payroll, etc.) Fortunately, tax departments are not powerless.

Technology 52

Technology Tax corporation tax accounting and finance 52

ThomsonReuters

JUNE 16, 2023

Many of today’s tax and accounting practices are struggling with strained firm capabilities. Based on the findings, the top challenge for accountants is recruitment/retention, at 36 percent. The accounting profession is no stranger to long work hours and hefty workloads, especially during busy tax season.

accounting firms 98

accounting firms Account accountant accounted 98

ThomsonReuters

JUNE 22, 2023

If there is one challenge that resonates amongst large tax and accounting firms, it’s data visibility. What are APIs and how do they work? From reducing human error to analyzing data, APIs are transforming industries by bringing together disparate systems and unleashing endless ways to increase efficiency.

Technology 98

Technology New Hampshire Massachusetts accounting firms 98

ThomsonReuters

APRIL 13, 2023

These two words can strike fear in the hearts of your tax and accounting clients: IRS audit. Understanding how to manage client expectations and concerns and how to get through the process is an essential skill in the tax and accounting professions. Find out how and when they wish to communicate about the process.

audit 52

audit accounting firms Tax Account 52

ThomsonReuters

NOVEMBER 23, 2023

“As global supply chains become increasingly more complex, companies must find ways to optimize costs while still maintaining efficiency,” said Liz Connell, Senior Director of Product Management, at ONESOURCE Global Trade. . Knowing how to identify opportunities for savings is also very important.

Tax 105

Tax Government audit Retail 105

ThomsonReuters

JUNE 16, 2023

Over the years, AI in accounting has increasingly gained traction and, going forward, it will continue to transform the tax and accounting profession. Like many industries, the accounting profession is exploring how AI can improve efficiencies and help strained firms better serve clients. Is your firm ready?

Account 110

Account accountant accounted Technology 110

Xero

JANUARY 31, 2023

It’s time to switch to new reports If you haven’t made the switch to new reports, we urge you to start moving your work across now , so you have plenty of time to get used to them before the older versions are retired.

payroll 91

payroll income tax Tax tax return 91

ThomsonReuters

JUNE 28, 2022

how adding such a solution will improve departmental operations, particularly in tax and IT. how adding such a solution will improve departmental operations, particularly in tax and IT. Forrester then aggregated the results into a “composite organization” to illustrate its findings. How are savings and benefits quantified?

Tax 90

Tax Technology corporation tax auditor 90

ThomsonReuters

NOVEMBER 10, 2022

In any large company, the idea of achieving greater “efficiency” is really an ongoing effort to increase profitability by finding ways to modify various systems, processes, and workflows in order to save time and money. Are you spending too much time fixing errors? Reducing error rates on invoices. The perfect tax tool.

Tax 59

Tax Technology corporation tax Account 59

ThomsonReuters

JANUARY 18, 2024

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? Accountant responsibilities extend far beyond number crunching.

Account 59

Account accountant accounted tax preparation 59

MineralTree

OCTOBER 26, 2023

Automation is reshaping the way companies manage their financial operations, especially in accounts payable (AP). Understanding how AP automation works and how it streamlines AP processes is vital to keeping your company ahead of the curve in a rapidly evolving business finance landscape.

AP Automation 76

AP Automation Technology AP Processes accounts payable 76

ThomsonReuters

FEBRUARY 14, 2022

Every tax and accounting firm is unique, so there’s really no one-size-fits-all approach to hiring. Understanding your company culture is a useful step in finding a new accountant who is the right fit for your firm. Over the years, the role of tax and accounting firm employees has become increasingly digital-focused.

Account 92

Account accountant accounted accounting firms 92

ThomsonReuters

MAY 9, 2022

Technology has helped tax and accounting firms to streamline their processes and automate countless time-consuming manual tasks. Many accounting firms are creating connections between new solutions and legacy systems with APIs. In many cases, APIs are used to connect new software to an accounting firm’s existing tech stack.

Technology 105

Technology accounting firms Account accountant 105

DuctTapeMarketing

JULY 24, 2018

Find A Consultant. The employee handling payroll must stay up-to-date on the ever-changing tax codes, and any errors in remittance of tax payments can result in costly fines and fees. Here are some questions to consider that can help guide your discussion with a payroll company: Question: How many clients do you have?

payroll 142

payroll accounting and finance Start-ups Tax 142

ThomsonReuters

FEBRUARY 13, 2024

Regardless of how your firm bills (e.g., Embracing these solutions can reduce errors, result in quicker payments, and further streamline your invoicing process. To ensure clarity of communication, make sure your invoice includes the following: Itemized list of services provided. 1040 preparation, financial advisement, bookkeeping).

tax preparation 52

tax preparation Tax tax return cpa firm 52