ThomsonReuters

JUNE 16, 2023

Is your firm running its gears on outdated accounting technology? In fact, a recent survey by Accounting Today found that half of the firms surveyed said they plan to boost their spending on technology in 2023. How do you know when your accounting technology is outdated? Change is not easy. Let’s take a closer look.

Technology 98

Technology Account accountant accounted 98

ThomsonReuters

DECEMBER 8, 2023

As technology has evolved, so too has the accounting profession. From paper-based processes to cloud-based software, accountants are no strangers to change. No previous advancement, however, has had the potential to alter accounting (and many other industries) quite like generative artificial intelligence.

Account 108

Account accountant accounted Technology 108

Acterys

JULY 10, 2023

Its success has kickstarted an AI race that has compelled almost every company to embed artificial intelligence and machine learning algorithms into their software architecture to mirror the same level of agility and productivity. The launch of ChatGPT has taken the world by storm. However, does FP&A also play a significant role in this?

Gaming 130

Gaming accounting and finance accounting software Technology 130

Xero

MARCH 13, 2024

If you’re using Xero, you can find more helpful information in our handy guide for getting ready for financial year end. Save time on sending invoices and reminders in the new year by using an accounting software that does it for you. If you’re using Xero, there’s apps in the Xero App Store that can help with this too.

tax return 83

tax return bookkeeping accounting software payroll 83

Ronika Khanna CPA,CA

MARCH 5, 2024

This means that you can no longer use the paper form. There are essentially two ways to file your GST/HST online: CRA My Business Account Online Business Banking In this post, I will be reviewing how to do it via CRA My Business Account. Step 1 : First, make sure you have signed up for CRA My Business Account.

business accounting 59

business accounting Account accountant accounted 59

Xero

APRIL 17, 2024

Understanding the environmental impact of your business is critical in today’s business environment — and carbon accounting is a fundamental step in this process. With carbon accounting increasingly becoming another compliance measure mandated by regulators, businesses of all types and sizes need to get their emissions numbers in order.

Account 91

Account accountant accounted accounting apps 91

CPA Practice

MARCH 21, 2024

Over the course of the past year the company has expanded to support Etsy, Poshmark, Mercari and Amazon sellers in addition to eBay with its automated bookkeeping and accounting solution. Seller Ledger’s software connects directly with sales channels like eBay and Amazon to import sales information and transaction fees by the platform.

bookkeeping 52

bookkeeping Account accountant accounted 52

Xero

DECEMBER 10, 2023

In today’s accounting and bookkeeping practices, you can find yourself juggling client communications, compliance and acting increasingly in advisory roles – all while still managing your ever-growing daily management tasks. So how can you streamline time spent on admin, workflows and processes?

bookkeeping 87

bookkeeping Start-ups Account accountant 87

ThomsonReuters

FEBRUARY 6, 2024

Jump to: When to consider an automated tax software solution Benefits of sales tax automation software What if you don’t have a complex business model? The results are tested, expected, and applied consistently and accurately – reducing the time spent managing sales and use tax, reducing audit risk, and increasing data accuracy.

Sales 98

Sales Tax audit Account 98

ThomsonReuters

APRIL 30, 2024

In the world of accounting audits, accuracy and completeness are paramount. Let’s take a closer look at the importance of accuracy and completeness in audit data review and how leveraging technology can enhance audit quality , efficiency, and effectiveness. Data visualization can also be used to tell stories and engage audiences.

auditor 52

auditor audit Technology financial statements 52

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. How are you preparing and reviewing the tax return? How are you collecting e-file signatures?

Technology 112

Technology Account accountant accounted 112

Xero

JANUARY 30, 2024

Property investment accounting, or landlord accounting, manages your property portfolio assisting with tax compliance and return on investment. Here’s some tips, tricks, and insights to help you understand what’s involved, and how Xero can help you manage all your property finances in one place , giving you the freedom to free swim!

Account 93

Account accountant accounted accounting and finance 93

ThomsonReuters

OCTOBER 4, 2023

Jump to: How many accounting firms use AI? How do the Big 4 use artificial intelligence? How do smaller accounting firms use AI? How does AI impact workflow? How many accounting firms use AI? How do the Big 4 use artificial intelligence?

accounting firms 111

accounting firms Account accountant accounted 111

ThomsonReuters

FEBRUARY 22, 2024

It is inevitable that in the next few years, it will impact – and even transform – how corporate tax professionals go about their work. Generative AI Generative AI can undertake creative processes based on specific prompts it is given by people using it. Blog Find out how corporate tax departments can implement AI.

corporation tax 93

corporation tax Tax Technology audit 93

ThomsonReuters

APRIL 25, 2024

When it comes to navigating the tax landscape of 401(k) contributions and withdrawals, it’s important for accountants to stay informed and help clients make tax-efficient decisions during their retirement years. How is a 401(k) taxed? How to engage with clients on 401(k) tax considerations What are the taxes on 401(k) withdrawals?

Tax 52

Tax income tax tax preparation Account 52

ThomsonReuters

AUGUST 10, 2023

Here, we will talk through some best practices when implementing new audit software solutions as well as some common pitfalls that can arise throughout the process. have a “digital transformation strategy” already in place, notes Boston University’s (BU) The Blog Chain.

audit 97

audit Technology Tax Account 97

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

CPA Practice

APRIL 3, 2024

Accounting software company Botkeeper has released its Botkeeper Infinite solution, which helps to streamline automated bookkeeping and back-office accounting for firms of all sizes without the need for outsourcing. If you’re wondering how all of this is a departure from the Botkeeper of old, we understand.

Technology 64

Technology general ledger bookkeeping accounting software 64

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? Being an accountant is different. Set boundaries There is no shortage of guidance on how to avoid burnout.

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 do firms think ahead to provide better services for their clients? This is how we do things. It’s been successful for us.”

cpa firm 96

cpa firm CPA Technology Tax 96

ThomsonReuters

NOVEMBER 15, 2023

For accountants, navigating the complexities of Form 8283 and the tax implications of non-cash charitable contributions is essential in providing solid financial guidance to clients and optimizing their tax benefits. Form 8283 is used to ensure U.S. How do I get a boat donation tax deduction? What is Form 8283?

tax return 98

tax return Tax tax planning Real Estate 98

Xero

OCTOBER 1, 2023

And how do they get it? This could be anything from the personal information of staff and customers, to confidential business information like sales and inventory records, credit cards and banking information, or account credentials used to access company systems. How do cyber criminals access your accounts?

Start-ups 111

Start-ups Account accountant accounted 111

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

Ryan Lazanis

APRIL 18, 2023

Artificial intelligence in accounting is currently transforming the industry. Table of Contents What is AI in Accounting? Can AI Replace Accountants? Benefits of Artificial Intelligence How is AI Used in Accounting? In fact, ChatGPT wrote the above description: Can AI Replace Accountants?

Account 96

Account accountant accounted Technology 96

Xero

MARCH 19, 2024

Pay runs in particular need to be easy and efficient for you, as well as your accountant and bookkeeper. You can now switch to Xero Payroll in a few easy steps Our new payroll switching wizard is designed for small businesses and advisors that love Xero and want to start using Xero Payroll.

payroll 83

payroll bookkeeping Start-ups Government 83

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. Using excel to run your monthly financial reports?

accounting software 98

accounting software Account accountant accounted 98

ThomsonReuters

OCTOBER 12, 2023

For accountants, providing comprehensive and personalized tax advice to U.S. citizens living abroad typically use Form 1040 , the same form used by taxpayers in the United States. File using Form 1040. If you are eligible, you can use various provisions to reduce or eliminate U.S. Report foreign financial accounts.

Tax 75

Tax tax return income tax tax preparation 75

ThomsonReuters

NOVEMBER 9, 2023

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. Think about your firm’s daily workflow. Address the talent shortage.

tax planning 105

tax planning accounting firms Tax Account 105

Xero

MARCH 18, 2024

In Xero we’ve improved how you adjust your financial year-end settings. We explore how to prepare for Basis Period Reform and how Xero can support you. As outlined above, Basis Period Reform is a change to the reporting period used for Income Tax purposes. The start date for Basis Period Reform is fast approaching.

income tax 69

income tax tax return Non-Profits bookkeeping 69

Xero

APRIL 2, 2024

The data capture software makes it easy to keep track of bills and receipts and automates the process of entering them in Xero. You just need to tell Hubdoc how you want to publish the information in Xero to easily match it in your bank feed. Useful, right? Here’s where the Xero Analytics short-term cash flow tool can help.

Account 86

Account accountant accounted Tax 86

ThomsonReuters

JANUARY 31, 2024

Use this checklist to get started on the path to a seamless 1040 tax workflow and the opportunities that come with it. By using data analytics, client portals, and scalable tax software, you can provide more value to your clients, streamline your workflows , and stand out from the competition.

Tax 52

Tax Technology Account accountant 52

ThomsonReuters

AUGUST 25, 2023

Jump to: How does depreciation affect corporation taxes? Accelerated depreciation for corporations How does depreciation work in an S corporation? Having a clear understanding of corporation tax depreciation can help accounting professionals better serve their clients.

corporation tax 98

corporation tax Tax income tax financial statements 98

ThomsonReuters

NOVEMBER 8, 2022

Most accountants know that choosing the right accounting technology can boost the ability to serve clients, satisfy staff, and build deeper client relationships.?But But how do you take full advantage of technology to streamline accounting processes? . Here’s how to start: Document your processes.

Technology 105

Technology Account accountant accounted 105

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

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

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. AI, including generative models, can be used to identify patterns and anomalies in financial data that may indicate fraudulent activities.

Tax 52

Tax tax preparation tax planning auditor 52

ThomsonReuters

JULY 6, 2023

What are APIs and how do they work? They are sets of programming instructions that let two software programs communicate. APIs can build things like simple interface functions into complex data-driven applications and let developers easily integrate two software programs. What are the benefits of tax provision software?

Tax 92

Tax general ledger corporation tax audit 92