Wed.Aug 14, 2024

article thumbnail

How Streamlining Tech Can Supercharge Success

Insightful Accountant

Irana Wasti of BILL discusses how the economic volatilities of the past few years have been challenging for finance teams, with inflation and uncertainty driving efficiency pressures and creating cash flow concerns for some businesses.

Finance 52
article thumbnail

How to Simplify HR Processes When Compliance Feels Impossible 

Patriot Software

HR compliance can be a nightmare for overwhelmed small business owners. You need buttoned-up HR processes to avoid compliance-related penalties and lawsuits. This takes time—a commodity most business owners don’t have. Is it possible to streamline your HR processes to stay compliant with federal, state, and local regulations? Yes.

payroll 97
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

City and local sales taxes spike

Accounting Today

A new study reveals increases in both local and new tax rates across the country, highlighting an urgent need for revenue at the municipal level.

Sales 132
article thumbnail

IRS Extends Tax Deadlines for Hurricane Debby Victims in the Southeast

Withum

On August 9, 2024, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in all of South Carolina, most of Florida and North Carolina, and part of Georgia that were affected by Hurricane Debby. The relief provided in IR-2024-205 postpones various tax filing and payment deadlines that occurred beginning on August 1, 2024, in Florida, August 4, 2024, in Georgia and South Carolina, and August 5, 2024, in North Carolina – the postponement period.

article thumbnail

Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

article thumbnail

MBA edges out CPA for CFO candidates

Accounting Today

The CPA certification is the third-most valued credential for CFO roles, according to a report by the Pennsylvania Institute of CPAs.

CPA 130
article thumbnail

Xero Showcases New Tech and Integrations at Xerocon 2024 Conference in Nashville

CPA Practice

Small business accounting technology maker Xero opened its annual Xerocon event in Nashville, Tennessee, on Wednesday, hosting more than 1,000 accounting professionals, financial advisors, and business consultants. Worldwide, the Xero platform has more than 4.2 million subscribers. During the morning’s keynote session, Xero CEO Sukhinder Singh Cassidy welcomed the attendees and then discussed the accomplishments the company has made in the last year with “resetting foundations, shaping aspiratio

More Trending

article thumbnail

Hackers Tried to Help This Firm Get Through Their Tax Return Backlog, Fraudulently

Going Concern

*this headline is obviously a joke. We have no way of knowing if Heier Weisbrot & Bernstein, LLC has a tax return backlog. Yet another accounting firm has reported a data breach, this time Heier Weisbrot & Bernstein of Gibbsboro, New Jersey and the details are a bit scarier than just bad actors caught digging around in the firm’s files.

article thumbnail

IRS Updates WISP Guide for Tax Pros

CPA Practice

A newly updated Written Information Security Plan (WISP) is now available from the IRS, designed to help protect tax professionals against continuing threats from identity thieves and data breaches. The updated 28-page template , “Publication 5708, Creating a Written Information Security Plan for Your Tax & Accounting Practice,” was announced by the agency and its Security Summit partners—representatives of state revenue departments and the tax industry—on Aug. 13 as part of their “Protect Y

Tax 111
article thumbnail

Boosting Your Bottom Line with Financial Forecasting

AccountingDepartment

In today's competitive landscape, small and medium-sized businesses (SMBs) need every advantage they can get to thrive and grow. One powerful tool that can significantly impact a company's bottom line is forecasting.

article thumbnail

7 Best Billing Software for Accountants

Ace Cloud Hosting

Billing software has become a necessity and around 58% of accountants use accounting software to meet their client’s needs. The accounting profession is rapidly evolving, and staying in a competitive.

accounted 105
article thumbnail

The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

article thumbnail

How to Issue a Corrected 1099 (MISC and NEC)

Patriot Software

Do you file Forms 1099-MISC or 1099-NEC? If so, you might mix up the forms, enter incorrect information, or use a form from the wrong tax year. If you make a mistake on either form, you may need to issue a corrected 1099. “Mistake” is the last word you want to hear in business.

Tax 98
article thumbnail

New features announced at Xerocon Nashville

Xero

Running a small business in the US or Canada comes with its fair share of unique challenges. That’s why Xero has been doubling down on building out our product capabilities for the unique needs of this region. Today, on stage at Xerocon Nashville, I was very excited to unveil the huge number of improvements Xero has made to make things easier for small businesses and their advisors.

article thumbnail

Xero announces new features on bank recs, compliance, payments

Accounting Today

Diya Jolly, Xero's chief product and technology officer, announced several new products and enhancements for bank reconciliations, payments, compliance and more.

Tax 80
article thumbnail

Business Valuation: The Impact of Real Estate Ownership and Rent Adjustments

Withum

Typically, when performing a business valuation for SBA 7(a) purposes, the prospective buyer is seeking to purchase both the business and its underlying real estate from the seller. In these instances, it is important to ensure the relationship between the company and the real estate is addressed correctly. Otherwise, the business valuation may provide an unreliable conclusion.

article thumbnail

Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

article thumbnail

Change management: 5 pitfalls that prevent change and how to overcome them

Accounting Today

First understand how things get done at your firm. Who needs to give a green light for an initiative to move ahead?

80
article thumbnail

AccountsIQ and IRIS Software Group announce strategic partnership

Accounting Insight

AccountsIQ , a leading provider of fully cloud-based accounting software, and IRIS Software Group (IRIS) , a global leader in accounting, edtech, and human capital management solutions, today announced a partnership to provide an integrated suite of cloud-based payroll, HR and finance solutions that empower businesses to streamline operations, facilitate cross-departmental collaboration, and help make data-driven decisions with powerful business intelligence insights.

payroll 64
article thumbnail

IPSASB clarifies requirements for first-time adoption of accrual basis IPSAS

Accounting Today

The International Public Sector Accounting Standards Board has proposed an update to its rules for first-time adoption of accrual basis International Public Sector Accounting Standards.

article thumbnail

Chaser introduces an advanced Revenue forecasting tool to improve financial planning

Accounting Insight

New feature uses machine learning to enhance revenue predictions and improve decision-making for businesses Chaser, the leading global accounts receivable SaaS provider, has launched the Revenue forecast. This new tool enables businesses to automatically predict future revenue, improving their financial planning and decision-making. Accurate revenue forecasting is essential for effective financial planning and business growth.

article thumbnail

8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

article thumbnail

Xero to focus on accounting, payroll, payments in US, UK and Australia

Accounting Today

Sukhinder Singh Cassidy, CEO of Xero, outlined her "Win On Purpose" strategy, which involves a focus on accounting, payments and payroll in the US, UK and Australian markets.

payroll 75
article thumbnail

AICPA Says Supreme Court Decisions to Have Major Tax Impacts

Insightful Accountant

Recent Supreme Court decisions have sent shockwaves through the accounting profession, particularly in the realm of tax law. These changes introduce a level of uncertainty that may make many tax professionals uncomfortable.

Tax 59
article thumbnail

Quality advisory doubles the acquisition probability for startups

Accounting Today

Accountants play a crucial role in guiding our clients through some of their most stressful moments — the challenges of growth and the complexities of the acquisition process.

Account 75
article thumbnail

The Funding Games: 4 Considerations for Financing in Real Estate To Obtain Capital

Cherry Bekaert

While it may be an Olympic year, sponsors and developers are not ones to play games when searching for funding for their real estate deals. Rising inflation and interest rates coupled with legislative changes have created shifts and challenging hurdles in the real estate industry. Sources of traditional capital are under pressure due to economic uncertainty, and the industry is being forced to explore other funding avenues.

article thumbnail

Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

article thumbnail

The finance function of the future: as simple as ABC

Accounting Insight

What does the finance function of the future look like? While some might envision futuristic CFO holograms or robots handling invoices, industry insiders know it’s much more complex than that. Emerging tools such as AI and machine learning are revolutionising how finance teams operate. Here’s how these technologies are streamlining the accounting world of the future to be as simple as ABC.

Finance 59
article thumbnail

Advent acquires majority stake in Syspro

Accounting Today

Advent International, a global private equity investment firm, has acquired a majority stake in Syspro, a provider of ERP systems that employs 400 people globally.

58
article thumbnail

Penfold reaches £500m assets under administration, doubling in 12 months

Accounting Insight

Penfold (getpenfold.com), the innovative digital pensions provider, is excited to announce it reached £500m AuA, doubling assets from £250m in the last 12 months and achieving growth of 260% from £139m at the start of 2023. This robust growth trajectory has been driven by the rapid expansion of its workplace pension offering, enabled by a proprietary technology platform that helps accountancy firms and payroll bureaus streamline their clients’ auto enrolment obligations.

payroll 59
article thumbnail

Xero Inventory Plus - an Introduction

Insightful Accountant

As part of our continuing coverage of various General Ledgers that might substitute for QuickBooks Pro-plus and Premier-plus Desktop, we are exploring a new functionality being offered by Xero, their 'Inventory Plus' option.

article thumbnail

How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.

article thumbnail

The 5 Biggest Factors Impacting Your Firm’s Valuation (In Order)

Ryan Lazanis

Do you know what actually impacts your firm’s value? Discover the 5 key factors buyers consider when determining your firm's worth. The post The 5 Biggest Factors Impacting Your Firm’s Valuation (In Order) appeared first on Future Firm.

Account 52
article thumbnail

Nearly half of Canadian Small Businesses face challenges steming from lack of financial literacy

Insightful Accountant

Xero study reveals 44% of owners figure out financial matters on their own, with nearly the same proportion facing fiscal challenges.

52
article thumbnail

Mental health: The best resources for small businesses in Australia

Reckon

Running a small business can be so incredibly rewarding. You’re completely in charge of making your dreams come true while not having to answer to a boss and doing something you love day in and day out. But running the show also comes with its own set of challenges and stresses, especially during busy periods of the year like tax time. Because managing financial pressures, giving your customers what they want and carving out some form of work-life balance can be overwhelming, having access to me

Tax 52
article thumbnail

Transforming Client Relationships with Tech-first Accounting

Canopy Accounting

Modern clients demand personalized service, real-time access to information, and proactive advice. Meeting these expectations is crucial for differentiating your firm in a competitive market.

article thumbnail

Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.