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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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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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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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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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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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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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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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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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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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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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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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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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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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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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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

Accounting Today

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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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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Dixon Advisory fined $7.2M for inappropriate investment advice

Accounting Today

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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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Salesforce launches marketplace for carbon emission offsets

Accounting Today

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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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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Fiona victims in Puerto Rico qualify for tax relief

Accounting Today

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Build the Firms of Your Dreams With Practice Management | Canopy

Canopy Accounting

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Ready to retire? Consider a partner buy-in

Accounting Today

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Caption This: One of These People is Not Like the Others

Going Concern

Because of the three people pictured in this row on an airplane, only one of them is the current Treasury secretary of the United States. And it looks like Janet Yellen is doing a little light reading on this flight: Surely you guys can come up with a better photo caption than James did on LinkedIn, and you all can definitely come up with something WAY more creative than we could.

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Citrin Cooperman acquires Murray Devine

Accounting Today

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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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Gender influences performance evaluations and career advancement

Accounting Today

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.