ThomsonReuters

JANUARY 8, 2024

Traditionally, tax professionals spend a considerable amount of time on repetitive and time-consuming activities such as data entry, invoice processing, and reconciliations. 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

Airbase

OCTOBER 23, 2023

In this blog, we’ll delve into the intricacies of three-way matching, exploring what it entails and, most importantly, why it holds such a pivotal role in modern accounting and procurement practices. The downsides of manual invoice matching. The AP team can execute the payment with reduced risk of overpayment or unauthorized spend.

accounts payable 130

accounts payable AP Automation Technology accounting and finance 130

ThomsonReuters

MAY 16, 2024

When it comes to the tax and accounting profession, GenAI is ushering in a new era of increased productivity, efficiency, and data-driven insight. For accounting firms, GenAI offers the ability to streamline processes, boost efficiency, and derive meaningful insight from client data. Consider these benefits: Data entry automation.

Tax 52

Tax Account accountant accounted 52

Xero

OCTOBER 24, 2023

This guest blog was written by the team at ecommerce accounting integration, Amaka. In fact, we’ve seen Amaka’s accounting integrations saving businesses around 12 hours of manual work monthly. If you’ve connected your ecommerce platform to Xero through Amaka, you’re able to have access to up to 12 months of historical sales data.

E-commerce 105

E-commerce Technology accounting and finance bookkeeping 105

Lockstep

NOVEMBER 16, 2022

In this blog post, we will discuss seven ways that you can use automated communications to improve your AR process. . Leverage data analytics to improve collections. Data analytics can help you to identify trends and areas for improvement in your accounts receivable process. Use automated payments to reduce manual processes.

Technology 88

Technology Account accountant accounted 88

Ryan Lazanis

APRIL 18, 2023

This includes tasks such as financial reporting, audit and compliance, fraud detection, and data analysis. AI in accounting can help improve accuracy and efficiency, reduce costs, and provide valuable insights and predictions for decision-making. In fact, ChatGPT wrote the above description: Can AI Replace Accountants?

Account 96

Account accountant accounted Technology 96

Xero

JULY 5, 2022

At Xero, we’re always developing new solutions that automate data entry to make life easier for our customers. Many of our customers enjoy bank feeds, which automatically imports data into Xero so you can complete your bank reconciliation. Simply follow these four steps to get your transaction data into Xero.

quickbooks 104

quickbooks 104

ThomsonReuters

JULY 13, 2023

Boost tax workflow efficiency through automation Tax compliance processes are uniquely positioned to benefit from AI as they are made up of a network of patterns like standardized forms and prior-year data. Technology reduces review time for managers and partners by facilitating detailed work paper preparation at the staff level.

Tax 97

Tax Technology accounting firms income tax 97

ThomsonReuters

FEBRUARY 16, 2024

They’re also increasingly sharing companies’ financial data among themselves and want more direct visibility into firms’ business activities by accessing their financial data and reporting processes. This makes data management matter more than ever.

corporation tax 96

corporation tax Technology Tax accounting and finance 96

ThomsonReuters

OCTOBER 6, 2023

They want to do a better job at using technology to streamline data collection, automate data entry, enhance the review process, and improve service delivery. Modernizing document collection Requesting and gathering the necessary client documents and data is the first phase of the tax prep process and often the most challenging.

tax preparation 64

tax preparation Tax tax return Technology 64

Xero

SEPTEMBER 28, 2022

Construction companies need better solutions that talk to each other in order to streamline communication, ensure data accuracy, and eliminate double entry. The Xero and Procore integration endeavours to create a seamless connection between the office and the field via the cloud, to provide accurate data in real-time.

Construction 95

Construction accounting and finance bookkeeping Finance 95

ThomsonReuters

NOVEMBER 9, 2023

With the rise of tax technology, candidates or recent college grads with skills or majors related to analyzing data can be a great fit. Tax software powered by AI can automate manual activities, save time, and improve accuracy. The data you hold is your firm’s largest asset. Utilize short-term solutions.

tax planning 105

tax planning accounting firms Tax Account 105

ThomsonReuters

JUNE 16, 2023

Ask yourself the following: Is staff spending too much time on time-consuming tasks like repetitive, manual data entry or data clean up? Wasting time on repetitive, time-consuming tasks like manually entering data impairs the firm’s ability to work smarter and faster and places a greater strain on staff.

Technology 98

Technology Account accountant accounted 98

Accounting Seed

FEBRUARY 3, 2023

Here are a few questions to get you started: Are you entering and maintaining data in multiple systems? Are you finding it difficult to connect your financial, sales and operational data? No more excel, connectors, mismatched data or operational silos. Using excel to run your monthly financial reports?

accounting software 98

accounting software Account accountant accounted 98

ThomsonReuters

APRIL 21, 2022

The benefits of digital transformation don’t end at the firm’s front door though – cloud-enabled software reduces the amount of paper being used, stored, and managed by your firm, which is great news for the planet. . Add additional revenue streams: by automating manual data entry, firms have time to explore advisory opportunities .

Technology 59

Technology audit auditor Tax 59

Xero

NOVEMBER 13, 2023

However, the customer still needs to open the invoice when it’s received and either scan or manually enter the data into their accounting system. eInvoicing helps reduce errors and delays, by sending an invoice directly from the business’ accounting system into the accounting system of their customer.

small business accounting software 52

small business accounting software accounting software accounting system bookkeeping 52

ThomsonReuters

SEPTEMBER 19, 2023

Tax preparation software has shifted the work of today’s tax and accounting professionals—from mundane data entry to more meaningful and strategic work. AI can significantly reduce the risk of human error by performing calculations and cross-referencing data with precision, leading to more accurate tax returns.

Technology 52

Technology Tax tax preparation tax return 52

ThomsonReuters

OCTOBER 4, 2023

This shift is driven by the realization that AI can automate mundane tasks, reduce errors, and free up accountants to focus on higher-value advisory roles. However, for most accounting firms, using AI is: Too new Not secure enough Offers incomplete, misleading, or wrong answers Data security and privacy are the two primary risk concerns.

accounting firms 111

accounting firms Account accountant accounted 111

ThomsonReuters

DECEMBER 5, 2022

By removing manual, time-consuming compliance tasks from workloads, tax and accounting professionals can reclaim those hours and use them for greater value activities such as advisory services. . It uses technology to streamline processes , reduce or eliminate manual tasks, and reduce labor costs. .

Technology 59

Technology Tax financial statements cpa firm 59

ThomsonReuters

JUNE 16, 2023

This includes having familiarity with the following: Big data analysis and advanced modeling techniques Business intelligence software Enterprise resource planning (ERP) systems A 2023 AICPA poll found that data analytics topped the list with essentially all accounting firms (99 percent) citing data analysis, tools and techniques (e.g.,

Account 98

Account accountant accounted Technology 98

ThomsonReuters

NOVEMBER 2, 2023

By leveraging automation, firms can reduce manual tasks, errors, and costs, while increasing speed, accuracy, and insights. Firms need to find ways to streamline their workflows, reduce errors, and increase productivity while maintaining quality and compliance.

Technology 52

Technology Tax tax preparation tax return 52

Accounting Seed

MAY 22, 2023

If you’re new to the Salesforce world, the first thing to know is that it’s a Customer Relationship Management (CRM) system built on an open platform so other applications can easily work together to house, manage, and collaborate with different departments using the same data. That’s the power of accounting in Salesforce.

Account 97

Account accountant accounted accounting and finance 97

ThomsonReuters

JUNE 14, 2021

Unlike W-2 forms and other IRS-mandated documentation, however, K-1s needn’t be produced in a standard format, so they come in a variety of formats and may include unstructured data, free-form text, footnotes, statements, and disclosures. Justin Bass, Chief Data Science Officer at Crowe. Watch the entire episode. A Complex Undertaking.

Technology 98

Technology corporation tax Tax Real Estate 98

MineralTree

APRIL 4, 2024

From manually inputting invoice data to chasing down approvers for signatures, a traditional paper-based approval process contains many time-consuming, manual steps that slow down payments and sap resources. Reliance on manual data entry can lead to inefficiencies, increased error rates, and prolonged invoice processing times.

Approval Workflows 52

Approval Workflows NetSuite AP Automation Technology 52

ThomsonReuters

JUNE 16, 2023

It is characterized by three dimensions:   Feelings of energy depletion or exhaustion;  Increased mental distance from one’s job, or feelings of negativism or cynicism related to one’s job; and  Reduced professional efficacy.  Staff strain can also erode morale across the firm and lead to higher rates of employee turnover.

accounting firms 98

accounting firms Account accountant accounted 98

Withum

APRIL 19, 2022

this blog is for you. For full details on Power Platform licensing, read our recent blog post “A Comprehensive Guide to Power Platform Licensing.” At a high level, though, the Power Platform can allow any organization to: Automate repetitive manual processes using Power Automate and Power Automate Desktop.

Technology 105

Technology Expense Reimbursements Start-ups accounting and finance 105

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. 6) Include relevant details in each expense entry for clarity and approval process. Steps to create effective business expense reports.

Approval Workflows 130

Approval Workflows Expense Management Entertainment Technology 130

Xero

NOVEMBER 29, 2022

We’re excited to announce November’s app partner of the month is Datamolino – an automated data-capture and invoice coding solution that saves small and medium-sized businesses time by reducing manual data entry. Datamolino automates data capture and processing for bills, receipts and invoices.

Accounts Payable Automation 78

Accounts Payable Automation accounts payable bookkeeping Start-ups 78

MineralTree

FEBRUARY 23, 2023

In this blog post, we will discuss the importance of cash flow forecasting and how businesses can better manage their cash flow through AP analytics and better data management. Organizations use this data to anticipate short-term and long-term business needs and make informed financial decisions. What is Cash Flow Forecasting?

AP Automation 88

AP Automation accounting and finance AP Processes Finance 88

Xero

OCTOBER 16, 2022

Last year, we reached a significant milestone in our data journey when we built machine learning algorithms that worked to accurately predict your transactions’ contact and account codes. Our ongoing commitment to reducing toil. We’re passionate about ethical, data-driven AI.

Technology 71

Technology Gaming Account accountant 71

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. AVOIDING DATA ENTRY ERRORS. Entering payments.

Accounts Payable Automation 52

Accounts Payable Automation accounts payable Technology accounting firms 52

ThomsonReuters

MARCH 19, 2024

To mitigate these concerns, forward-looking accountants are relying on AI-powered tax research solutions that are grounded in data from trusted experts and reliable sources, as opposed to public options that pull information from across the internet. Clearly, this is an unacceptable risk for tax and accounting professionals.

Tax 52

Tax Technology Education auditor 52

ThomsonReuters

SEPTEMBER 7, 2023

Break down the eligibility criteria and emphasize the impact it can have on reducing tax liability or even resulting in a refund. Software SurePrep 1040SCAN Eliminate data entry with our industry-leading scan-and-populate solution. Blog Learn more about the child and dependent care tax credit with our guide.

Tax 52

Tax tax preparation income tax tax return 52

Xero

JULY 18, 2022

It means automating time-consuming accounting and finance tasks, reducing paper handling and manual data entry. It basically means, the grunt work is taken care of (while also reducing the risk of human error). . More authentic interaction with clients. What do we mean by digitalisation?

bookkeeping 85

bookkeeping accounting and finance Expense Management payroll 85

Accounting Seed

FEBRUARY 7, 2023

Here are a few questions to get you started: Are you entering and maintaining data in multiple systems? Are you finding it difficult to connect your financial, sales and operational data? No more excel, connectors, mismatched data or operational silos. Using excel to run your monthly financial reports?

accounting software 52

accounting software Account accountant accounted 52

Xero

SEPTEMBER 5, 2022

Getting the full picture from your data. Data and analytics continues to reshape small businesses of all kinds. Figured was built to work with Xero from the beginning, so users can count on the accuracy of the financial data flowing through from Xero. Syft Analytics. Improving cash flow in times of inflation. ApprovalMax.

Technology 73

Technology bookkeeping payroll general ledger 73

ThomsonReuters

OCTOBER 12, 2023

If you are eligible, you can use various provisions to reduce or eliminate U.S. These treaties often contain provisions for reducing or eliminating taxes on specific types of income. This feature helps accountants ensure that clients maximize their available tax credits, reducing the risk of double taxation. taxation.

Tax 75

Tax tax return income tax tax preparation 75