Tue.Sep 20, 2022

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Three Biggest Mistakes Business Owners Make that Lower Company Value

Anders CPA

It’s not uncommon for business owners to have the majority of their net worth tied up in their ownership of a private company, which makes them highly dependent on the successful sale of the business to provide the cash they need for retirement. To maximize the potential price in a sale of the business, it’s important to avoid the following common mistakes that could cost you.

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How not to tank your sales tax audit (part 2)

TaxConnex

The sales tax audit can be one of the scariest – and costliest -- things an online business ever goes through. If you do get hit with an audit, it’s critical to handle the process correctly. Last time we looked at mistakes companies make leading up to an audit (Check out part 1 here). This blog will conclude our top 10 list with a look at 5 missteps to avoid when handling and resolving the audit.

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A $2 trillion fraud with employee retention credits puts financial advisors on edge

Accounting Today

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Sales Tax Accounting Basics [+ Journal Entry for Sales Tax Examples] 

Patriot Software

When you sell goods to customers, you likely collect and remit sales tax to the government. And when you purchase products, you typically pay sales tax. But, how do you record these tax collections and payments in your accounting books? Sales tax accounting. You should understand accounting for sales tax to maintain organized and accurate […] READ MORE.

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8 Ways to Torture Your CFO

The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.

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Dixon Advisory fined $7.2M for inappropriate investment advice

Accounting Today

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How to Handle Salary Reduction for Employees

Patriot Software

Reducing an employee’s salary is not an easy decision to make. Unfortunately, salary reduction might be necessary. If an employee is not succeeding in their position, it may be time for a pay cut. A salary reduction is much more than just changing your payroll. There are laws you need to follow when reducing an […] READ MORE.

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The countdown is on for Accountex Summit Manchester

Accounting Insight

In less than a month, Accountex Summit Manchester will be opening its doors at Manchester Central for the fourth year. The show on the 12 October is set to be the biggest yet, welcoming 1500+ attendees. . Alongside the packed seminar programme and diverse exhibitor list, Accountex Summit Manchester are excited to announce some new features to this year’s exhibition, including a photobooth and post-show drinks, which are a great opportunity to network and catch up with colleagues. .

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Fiona victims in Puerto Rico qualify for tax relief

Accounting Today

Tax
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Should You Use an Employee Time Clock?

Patriot Software

Managing employee hours worked comes with the territory of running payroll. Under the Fair Labor Standards Act, you must use a timekeeping method and retain records for your nonexempt employees. An employee time clock is one type of timekeeping system you can use. Read on to learn what employee time clocks are, common types of […] READ MORE.

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Ready to retire? Consider a partner buy-in

Accounting Today

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How to Streamline Payment Applications & Lien Waivers Through Innovative Construction Technology

Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant

Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.

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Reconciliation in Accounting: Difficulties in Reconciling the Accounts

Snyder

Financial statements provide a snapshot of a company’s financial health. They give a broad overview of a business and serve as an indication of its intercompany financial management, profitability, solvency, and liquidity. However, these indicators are only good when you reconcile the accounts properly. The account reconciliation process is an integral part of business, which helps to connect accounting with bank statements, records with cash, and protect the business from any discrepancies. .

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Connecting with our community at Rugby World Cup Sevens

Xero

For generations, sport has played a fundamental role in unifying nations and uplifting communities with its power to evoke a spirit of camaraderie and support. This is especially true in our country, particularly after the struggles of the last few years. I’m a firm believer in the value of sport as an equaliser and catalyst for positive change. Sport and its relationship with the community is so important –- from the players to the families and fans on the sideline, and in particular its impact

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What Is Piecework?

Patriot Software

There are various methods to compensate employees, including hourly, salary, and commission pay. But, are you familiar with piecework pay? Learn more about what is piecework, piecework laws to follow, and how to calculate piecework pay. What is a piecework? Piecework, or piece work pay, is paying an employee a fixed pay rate for each […] READ MORE.

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FY23 Xero Australia Awards: Congratulations to our finalists

Xero

If the last few years have proven anything, it’s that the tenacity and resilience of Australia’s business community is nothing short of awe-inspiring. This is why we’re honoured to once again recognise and celebrate the achievements of our small business community in the FY23 Xero Awards. Below, you’ll find this year’s finalists. . But first of all, a huge thank you to everyone who submitted their nominations.

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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

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The Role of a CFO in Mergers & Acquisitions

IgniteSpot

3 Things a CFO Does During the M&A Process. If you’re new to mergers and acquisitions, virtual CFO services can be helpful no matter how you collaborate with them. After all, it’s a whole new world (cue the Disney music).

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Citrin Cooperman acquires Murray Devine

Accounting Today

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Attracting, Recruiting, and Retaining High Performing Workers

GrowthForceBlog

10 min read. No matter the industry, business leaders in the U.S. know that attracting, hiring, and retaining employees in the current job market is more difficult than ever.

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Gender influences performance evaluations and career advancement

Accounting Today

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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The IRS Scheduled a Website Outage on September 15, Can’t Figure Out Why People Hate Them

Going Concern

The post The IRS Scheduled a Website Outage on September 15, Can’t Figure Out Why People Hate Them appeared first on Going Concern.

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In the blogs: Sense of discomfort

Accounting Today

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Future Forward 2022: Streamlined & Secure – Practical Security Lessons

Intuitive Accountant

Top 100 QuickBooks ProAdvisor Kellie Parks shows you everything you need to know to run a cloud-based business.

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No GST on ocean freight under Reverse Charge Mechanism on CIF Contract 

VJM Global

Held by the Hon’ble Supreme Court. In the matter of. Union of India & Anr. Versus M/s Mohit Minerals Pvt. Ltd. (Civil Appeal No. 1390 of 2022). M/s Mohit Minerals Private Limited (“The Respondent”) is importing goods on a CIF basis. The respondent is liable to pay customs duty on the import of goods. For the computation of custom duty, the value of taxable supply includes the value of ocean freights.

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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Build the Firms of Your Dreams With Practice Management | Canopy

Canopy Accounting

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CalCPA BUZZ: Last Chance for CalCPA Health Trust Nominations

CalCPA

CalCPA Council annually nominates candidates to serve as trustees of CalCPA Health (The Group Insurance Trust of the California Society of CPAs). Additionally, The post CalCPA BUZZ: Last Chance for CalCPA Health Trust Nominations appeared first on Hot Topics.

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New beginnings in uncertain times

Inform Accounting

The 70-year reign of Queen Elizabeth II was marked by her sense of duty and her determination to dedicate her life to her throne and to her people. For many of us, she became a constant in a rapidly changing world. King Charles lll paid tribute to the reign of the late Queen, “unequalled in its duration, its dedication and its devotion”, as he was formally declared the nation’s new Monarch.

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Accounting Insiders with Nana Guenther

Intuitive Accountant

In today's ever-changing landscape, you can never get enough new technology. Jump over to Insightful Accountant's YouTube channel and listen to why Dext's Nana Guenther says adoption is just the first step.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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How do you know what your clients really want from you?

Mark Lee

It’s all to easy to assume that all clients want the same things. But unless you ask, you won’t know for sure. It’s probably true that most clients want you to help them pay less tax and to keep them straight with the authorities. Probably true. For most. But these may not be the key priorities that explain why all of your clients have you as their accountant.

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6 Ways to Provide Exceptional Client Experiences

Intuitive Accountant

FFP Wealth Management's John Graziano examines some simple and effective ways to provide your clients with an extraordinary experience.

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7 cost benefits of cloud accounting software

Accounting Insight

Is your accounting software having a laugh at your expense? Prudence is more than a mantra. It’s the deep devotion that underpins the entire finance function. And yet thousands of organisations are using accounting software that undermines this fundamental credo. No-one is implying that finance departments are being profligate. Far from it. Nor is one suggesting that the software at the very heart of their work is betraying them (though some of the more idiosyncratic systems may sometimes feel l

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Intercompany Transactions – A QuickBooks Desktop 2023 Feature

Intuitive Accountant

Now, Enterprise Platinum, Diamond and Accountant subscribers in the US can create relationships between multiple company files, post intercompany transactions and track those transactions with a central dashboard.

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i