Fri.Oct 28, 2022

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Best Practices for Accounts Receivable (AR) Collection

Withum

Implementing a clear and concise Accounts Receivable invoicing and collection process will allow your business to get paid faster and provide a more healthy and predictable cash flow projection ability for the coming year and/or years. Accounts Receivable Best Practices. Below are some steps you can take for a better approach to AR collection: Create an accounts receivable payment follow-up policy and assess collections regularly. .

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FTB Audit Representation by California State Taxing Authority

MyIRSRelief

In case you were not aware of what the FTB is, it is the California board that is responsible for collecting all of the personal income tax and business franchise taxes that are assessed every year for people and companies in California. Formed in 1950, the board replaced the original Franchise Tax Commissioner that was created by the original California Constitution.

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Some High Level Folks Have Abruptly Left BDO and No One Seems to Know Why

Going Concern

People who know know there’s something happening at BDO USA. We are working on getting to the bottom of a few things that we can’t quite share with you until we have more information but in the meantime, we need to talk about how leadership is apparently getting axed — or leaving? — and no one knows why. Well, someone knows why.

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Canopy Wins G2’s Fall Implementation Award | Canopy

Canopy Accounting

Get your drum rolls out and start drumming: Canopy’s Practice Management software for accounting firms just won a G2 Fall 2022 badge for Most Implementable! If you’re wondering what this means or whether or not it’s a big deal, think of it this way: For human beings, it’s the Nobel Peace Prize. For dogs, it’s the Westminster Legend Trophy. For accounting practice management software, it’s undoubtedly a badge from G2 for Most Implementable.

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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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Fire Prevention Awareness With Jon Kessler

Withum

Explore Other Episodes. #CivicWarriors #WithumImpact. The post Fire Prevention Awareness With Jon Kessler appeared first on Withum.

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What Is Inventory?

Patriot Software

Unless you own a service-based business, you likely have inventory. Knowing how much inventory you have is crucial for managing accurate small business accounting books, ordering new stock, and making pricing decisions. So, what is inventory? Inventory meaning Inventory represents the goods your small business has for sale or in storage. Your small business’s inventory […] READ MORE.

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Book Value vs. Market Value

Patriot Software

As a business owner, you have many types of assets. Knowing how much your assets are worth is necessary for properly creating financial statements, obtaining outside financing, and selling your property. But, assets don’t retain the same value throughout their life cycle. You need to know the difference between book value vs. market value to […] READ MORE.

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How document packs helps this UK advisor stay ahead of the curve

Xero

In our One Step research , we found that small business owners who adopt new technologies enjoy on average 106% higher productivity than those who fall behind the tech adoption curve. It’s something that Andy Housley of Square 1 Accounting in the UK can personally attest to. . Here, Andy shares why he’s passionate about staying up to date with the latest tools and gadgets, and how he makes the most of document packs in his practice — a secure solution within Xero HQ that helps you easily collate

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What Small Business Owners Need to Know About Use Tax

Patriot Software

You might be familiar with the process of collecting sales tax from consumers. But, how much do you know about use tax? Understand the difference between sales tax and use tax, as well as your use tax responsibilities. What is use tax? Use tax is a sales tax imposed on consumers who do not pay […] READ MORE.

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How Much You Need to Retire

Withum

Many people think in terms of how much they need to retire. I suggest that the amount you have is not as important as the cash flow you will have in retirement. I’ve said it a million times. You do not spend assets; you spend cash flow. Actually, you can also spend assets, but if you spend too many, you won’t have them anymore, leading to a reduced cash flow.

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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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Accounting Terms You Should Know

Patriot Software

As a small business owner, the idea of learning accounting lingo can be intimidating. You may not know many terms used in accounting. To better understand your business’s finances, you may want to review a few basic accounting terms. To help you get started, below are explanations of common accounting terms. Common accounting terms Review […] READ MORE.

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Caterpillar's 15-year tax saga ends with $740M IRS settlement

Accounting Today

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Business Owner Responsibilities You Can Manage: Financial Tasks

Patriot Software

Managing accounting is just one of your business owner responsibilities. But for many, it can be overwhelming and nerve-racking. Your first instinct might be to outsource all your accounting tasks to an accountant. However, there are many financial tasks you can, and should, manage on your own. Financial business owner responsibilities you can manage When […] READ MORE.

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Estimates of the tax gap keep growing

Accounting Today

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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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Navigate Through Book Value Calculations to Evaluate Your Business’s Worth

Patriot Software

To run your business, you likely rely on assets such as equipment, your building, a company car, inventory, and cash. And if you want to maintain your books, create financial statements, and determine the theoretical value of your property, you need to calculate book value. What is book value? What is book value? Book value, […] READ MORE.

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Tax cuts for the rich? In this economy? GOP playbook faces doubts

Accounting Today

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What Are Articles of Organization?

Patriot Software

When structuring your business, you must follow each entity’s formation requirements, such as registering with your state, obtaining licenses and permits, and filing paperwork. If you decide to structure your business as a limited liability company (LLC), you must file articles of organization. What are articles of organization? What are articles of organization?

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Douglas O'Donnell named acting IRS commissioner

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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Business Refinance Loans for Small Companies

Patriot Software

If you’re like many small business owners, you’ve taken on some form of debt to help your company grow. Small business loans can be very beneficial, but repayments can also become a burden. If you’re struggling to repay business debt, consider reorganizing with business refinance loans. What is refinancing a loan? To refinance debt, you […] READ MORE.

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Ad-supported video streaming could have broad tax implications

Accounting Today

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Debt Financing vs. Equity Financing

Patriot Software

As a small business owner, you know that it’s hard to gain business capital. But, you need money to grow your business. Whether you are looking for startup or expansion funds, you usually have two options: debt financing vs. equity financing. Know the difference between equity and debt financing to choose the right one for […] READ MORE.

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Foundations set up by the rich are increasingly using charity loophole

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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Fair Market Value for Small Businesses

Patriot Software

Do you have business assets? If you’re running a small business, you likely have many tangible and intangible assets. And when you sell those assets or buy new ones, you should know their fair market value. You must know the fair market value of your assets to maintain accurate small business accounting books, obtain outside […] READ MORE.

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20 Days to a Better Firm: Throw money at them

Accounting Today

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Should You Grow Your Business?

Patriot Software

If you are a small business owner, you may be asking yourself, Is it time to grow my business? Before you race off to grow your business, you need to make sure that your company is ready for expansion. Continue reading to see if it is time for your small business to grow. And, check out […] READ MORE.

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SEC cracks down on excessive executive pay

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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What Are Adjusting Entries?

Patriot Software

Having accurate accounting books is essential for making financial decisions, securing financing, and drafting financial statements. But sometimes, you find gaps in your records, either from making mistakes or carrying out transactions from one accounting period to another. To combat discrepancies and get your records in order, you need to create adjusting entries.

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Boomer's Blueprint: Firm technology in 2025

Accounting Today

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What Is Adjusted Gross Income?

Patriot Software

As a small business owner, you have likely heard of the terms gross or net income. But, are you familiar with adjusted gross income? Learn what is adjusted gross income, how to calculate it, and uses for adjusted gross income below. What does adjusted gross income mean? Adjusted gross income, or AGI, is a person’s […] READ MORE.

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How good they think their tools are can impact auditor judgment

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.