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

Airbase

OCTOBER 23, 2023

In the world of finance and procurement, accuracy and accountability are paramount. Every organization strives to maintain a meticulous record of its financial transactions while safeguarding itself against errors and fraud. Table of contents What is 3-way matching? What is 3-way matching? How 3-way matching works.

accounts payable 130

accounts payable AP Automation Technology accounting and finance 130

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

Going Concern

APRIL 4, 2024

The story I’m about to share with you is not directly related to the accounting profession however it’s just as relevant in this sector as any because of the principle at work: ‘AI’ isn’t always AI. But creating that magic—determining who took what—is harder than you think.” Their secret weapon?

Technology 93

Technology E-commerce Account accountant 93

ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. That’s why many accountants are embracing the profitable shift to tax advisory services. That’s why many accountants are embracing the profitable shift to tax advisory services.

Tax 98

Tax tax return income tax audit 98

DuctTapeMarketing

JULY 14, 2018

Cloud-based accounting software can provide a whole suite of tools to help business owners get ahead. Cloud-based accounting software can provide a whole suite of tools to help business owners get ahead. Record transactions. Not tracking daily transactions will cost you time and money down the road. Delegate what you can.

bookkeeping 238

bookkeeping accounting and finance accounting software bookkeeping services 238

ThomsonReuters

NOVEMBER 2, 2023

Jump to: What does SAS 145 address? 9 steps to apply SAS 145 Managing SAS 145 compliance What does SAS 145 address? 9 steps to apply SAS 145 So now that SAS 145 is here, what steps should auditors take? At a high level, SAS 145 addresses a company’s system of internal control and information technology.

auditor 105

auditor audit Government Account 105

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

Basis 365

APRIL 3, 2023

In this blog post, we'll discuss how to break out Shopify fees for accurate financials and the benefits of outsourced e-commerce accounting. In this blog post, we'll discuss how to break out Shopify fees for accurate financials and the benefits of outsourced e-commerce accounting. to 2% per transaction.

E-commerce 102

E-commerce financial statements Sales Account 102

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?

Technology 98

Technology Account accountant accounted 98

CPA Practice

JANUARY 9, 2024

What will 2024 bring when it comes to managing tax and reporting processes? Its expert staff represent a variety of industries and backgrounds, including limited to accounting, engineering, government, manufacturing, retail, tax, and technology. In 2024, AI’s impact on the accounting industry will be profound.

Technology 81

Technology Tax E-commerce audit 81

ThomsonReuters

JULY 25, 2023

For today’s accounting firms, advanced technology is no longer an option but a necessity. The most successful accounting firms are making the investment today to optimize growth tomorrow. Let’s take a look at how AI is transforming the way accountants work and why it will help shape the future of the profession.

Technology 98

Technology Tax audit accounting firms 98

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. Do you know how to spot it? How widespread is corporate fraud?

Account 93

Account accountant accounted financial statements 93

ThomsonReuters

MAY 10, 2023

The first blog in this series focused on the new guidance around risk assessment under SAS 145 , and the second on improved documentation and skeptical analysis. In this third blog, we’ll examine balancing the scope of an audit with the complexity of an entity’s activities.

audit 52

audit auditor Account accountant 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

NOVEMBER 26, 2023

Here’s what we’re doing to make it easy for you to manage this change in Xero. This includes your contacts, your inventory items, and for accounts in your chart of accounts. Any transactions using those contacts, inventory items or accounts will continue to default to 8% unless you update them.

accounting and finance 77

accounting and finance Tax Start-ups Account 77

ThomsonReuters

FEBRUARY 1, 2024

Jump to: What are the GAAP accounting rules? What are the main principles of the GAAP framework? What are the key differences between GAAP and IFRS? What are the GAAP rules for capitalization of costs? What are the main consolidation models under GAAP? So, what are the GAAP accounting rules?

Non-Profits 52

Non-Profits accounting standards Maine accounting and finance 52

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? Recording expenses and preparing financial reports.

Account 59

Account accountant accounted tax preparation 59

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. What are the challenges?

Account 110

Account accountant accounted Technology 110

Basis 365

JUNE 29, 2023

In this blog, we'll explore the differences between a bookkeeper and a controller and help you determine which role(s) you need for your business. What is a Bookkeeper? They record transactions, reconcile accounts, and generate financial statements. What is a Controller?

bookkeeping 90

bookkeeping accounts payable basic accounting accounting and finance 90

Xero

OCTOBER 1, 2023

What are they looking for? They don’t care what they damage they do, or who they hurt along the way. Personal information can be used to commit identity fraud like scam campaigns, or payment fraud like transactions on stolen credit cards. Cyber criminals steal this data by gaining control of the accounts that access it.

Start-ups 111

Start-ups Account accountant accounted 111

Xero

OCTOBER 3, 2023

How to recognise new contact predictions in Xero You’re probably already familiar with our existing bank reconciliation predictions, where we display existing contact and account codes in italics. This new feature is another step on this journey, and we can’t wait to hear what you think.

Transportation 107

Transportation Account accountant accounted 107

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. What Xero tip would you add to this list? Let us know in the comments section. EOFY 2023).

bookkeeping 89

bookkeeping Tax payroll Account 89

Xero

MARCH 18, 2024

What is Basis Period Reform and who’s affected? What is Basis Period Reform and who’s affected? The measure impacts sole trader and partnership clients who use their own accounting year for Income Tax reporting. Some of your clients might decide to change their accounting date, in order to simplify Income Tax reporting.

income tax 69

income tax tax return Non-Profits bookkeeping 69

Xero

NOVEMBER 27, 2023

Getting bills into Xero, processing the payment and reconciling each transaction can take time away from important tasks, like growing revenue and managing costs. We’re the first major small business cloud accounting software in the UK to offer on-platform bill payments using open banking.

Technology 95

Technology accounts payable accounting software Start-ups 95

ThomsonReuters

MAY 17, 2023

As we complete our examination of the impacts of SAS 145 for tax and accounting professionals, we’ll build on our previous posts on risk assessment , documentation and analysis , and balancing scope and complexity in auditing. In this last post, we’ll look at risks that can arise from the use of IT in accounting and auditing.

auditor 52

auditor audit Technology Tax 52

Snyder

OCTOBER 27, 2022

This blog will teach you how to receive payments on Etsy , both including and apart from PayPal. This blog is a part of a series dedicated to the most popular e-commerce marketplaces’ payment solutions. What is Integrated PayPal? What is Standalone PayPal? What are Etsy Payments and how do they work? Listing fees.

E-commerce 98

E-commerce accounting and finance Tax Sales 98

Inform Accounting

AUGUST 10, 2023

From small businesses with big ambitions to freelancers figuring out tax returns, Starling’s award-winning business bank account is designed to make entrepreneurial life a little easier. Apple for a Starling Bank account today! Read more of Inform's tax blogs : Struggling to pay tax – What should you do?

tax return 52

tax return Account accountant accounted 52

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? What if you don’t have a complex business model? Automation guarantees the correct indirect tax calculated in every jurisdiction where you do business.

Sales 98

Sales Tax audit Account 98

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. Table of Contents FirstHeading What is expense reporting? Schedule a demo What is expense reporting? Types of expense reports.

Approval Workflows 130

Approval Workflows Expense Management Entertainment Technology 130

Xero

AUGUST 7, 2023

Xerocon Sydney is just weeks away on 23 and 24 August, and the ICC exhibitor floor will be full to the brim with some of the best and most loved apps, tools and services for accountants, bookkeepers and small businesses. This year, you can expect to see 80+ exhibitors at the event, including more than 70 leading Xero App Store app partners.

bookkeeping 91

bookkeeping E-commerce Tax Account 91

Withum

FEBRUARY 1, 2024

Last year is a closed book for most transactions that will be reported on your 2023 tax return. Further, if PTP shares are owned in a retirement account, including an IRA, Roth IRA, or 401k, some of the income could become taxable in those tax-sheltered accounts. Here are some actions to consider.

tax return 59

tax return Tax Gambling tax preparation 59

ThomsonReuters

JULY 6, 2023

Are you an accountant looking to break into the exciting world of mergers and acquisitions (M&A) advisory services? It is important for M&A advisors to understand the client’s goals for the transaction and how the company will benefit from it.

Legal 52

Legal Tax Start-ups Construction 52

ThomsonReuters

JULY 25, 2023

Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be. And even if the project gets approved, cross-departmental discussions and support – from accounts payable, procurement, finance, IT, etc. –

Technology 93

Technology Tax audit Sales 93

Shay CPA

FEBRUARY 14, 2024

Or you might be feeling stressed because you don’t know what to expect. As of the publication of this blog post changes to the rules of Section 174 are being considered in Congress with initial legislation passing in the House of Representatives. Dial in Your Accounting System You don’t need to sink a ton of hours into your accounting.

Technology 52

Technology Tax CPA accounting principles 52

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

Xero

DECEMBER 17, 2023

Then log into your bank account and confirm the connection. Don’t forget, you can also get banking data into Xero by uploading bank transactions manually , or using our bank statement extraction tool in Hubdoc. We can’t wait to hear what you think about our new bank feeds in Xero.

accounting and finance 81

accounting and finance Finance Account accountant 81