Mon.May 12, 2025

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The Ultimate Guide to Document Management for Accountants

Canopy Accounting

Collecting hundredsif not thousandsof client documents, saving them as recognizable names, and storing them in the right place is tedious and time consuming. After all, Every file needs to be in order, and all client information must be protected. However, protecting client information and documents (not by email, for example), sharing them with only the right staff members, and maintaining compliance is challenging to say the least.

Account 52
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Improper payment rate still too high at IRS

Accounting Today

The Internal Revenue Service has not yet satisfied the goal of the Payment Integrity Information Act to reduce improper payment rates to less than 10%.

Tax 116
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Trending Sources

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12 Most Common Financial Reporting Mistakes in Nonprofits

CPA Practice

Proper financial reporting is essential for not-for-profit organizations to maintain transparency, donor confidence, and regulatory compliance. But despite their best intentions, many NFPs consistently make critical errors in their financial statements.

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VDI for Accounting Firms: What to Know and Why It Matters

Ace Cloud Hosting

The accounting industry has long been known for its relentless work ethic. With the evolution of the global business landscape, companies now dont look at accountants as just number crunchers.

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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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43% of Americans Say Money is Negatively Affecting Their Mental Health, Survey Finds

CPA Practice

More than 2 in 5 (43%) U.S. adults say money negatively affects their mental health, at least occasionally, causing anxiety, stress, worrisome thoughts, loss of sleep, depression and other effects, according to Bankrate.

payroll 96
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How to Make a Journal Entry for Sales in Your Books

Patriot Software

Ten out of 10 businesses sell products or services. And when you make a sale, you need to record the transaction in your accounting books. How comfortable are you with making a journal entry for sales? How you record the transaction depends on whether your customer pays with cash or uses credit.

Sales 85

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New York Governor Signs 2025-2026 Budget That Includes Business Tax Hikes

Withum

On May 10, 2025, New York Governor Hochul signed the 2025-2026 budget bill into law. While there are no major tax changes in the budget bill, several items are worthy of note for taxpayers. Including a payroll tax hike and new rules related to partnership audits. Below is a summary of some of the more important tax changes. We will provide a more detailed analysis of these provisions in the coming days.

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Layoff Watch ’25: RSM US Is Making Cuts Again

Going Concern

We were first tipped to layoffs unfolding at RSM US on Friday but weren’t able to confirm until this morning when we received corroboration from another tipster. RSM is making cuts in tax, how many is unknown at this time. Tax leader Tony Urban informed his people today, more info is forthcoming as soon as we have it. We don’t know at this time if other service lines are affected.

Tax 75
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Financial advisors are divided over this RMD tax strategy

Accounting Today

A little-known feature of RMD tax withholdings could help minimize a client's effective tax burden. Not all financial advisors are on board with the strategy.

Tax 98
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Sage Partners with Amazon Web Services for AI Innovation in Accounting and Compliance

CPA Practice

This collaboration enables Sage to rapidly test, refine, and roll out AI models tailored to the complex demands of accounting and compliance.

Account 64
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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

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More companies get assurance on sustainability reporting

Accounting Today

Approximately three-quarters of large global companies are receiving assurance services on their sustainability reporting, according to a new report.

audit 66
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Study: 73% of Global Companies Sought Assurance on Sustainability Reporting

CPA Practice

A new report from the AICPA & CIMA and the International Federation of Accountants found that nearly three in four of the largest companies sought assurance on some aspect of their sustainability disclosures.

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The 2025 Tax Practitioner Hiring Crisis

Insightful Accountant

The tax profession faces unprecedented recruiting challenges in 2025. As specialized tax expertise becomes increasingly valuable amid evolving legislation, firms struggle with a diminishing pipeline of qualified candidates.

Tax 69
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Should You Take Out a Payroll Loan If You Can’t Make Payroll?

Patriot Software

There might come a time when you dont have enough money to pay your employees. Cash flow might be slow, or a three-paycheck month may surprise you. To help your business make ends meet, you might consider taking out a payroll loan. A payroll loan can be a lifeline.

payroll 65
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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Regulatory Compliance Pros View Technology Risks as Most Significant Force to Cause Compliance Issues in 2025  

CPA Practice

U.S. regulatory compliance professionals cited keeping abreast of regulatory changes (43%), assessing risk profiles across multiple asset classes (42%) and accurately identifying insider trading and market manipulation (40%) as their top three choices.

Account 59
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Which Financial Statement Is Prepared First?

Patriot Software

Your businesss financial statements give you a snapshot of the financial health of your company. Without them, you wouldnt be able to monitor your revenue, project your future finances, or keep your business on track for success. So which financial statement is prepared first? Which financial statement is prepared first?

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Using tax-aware long-short vehicles to track down alpha

Accounting Today

The investment strategy may generate much greater loss harvesting than direct indexing, but backers point out that they work much differently.

Tax 59
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Avalara to Kick Off CRUSH on Tour in June

CPA Practice

CRUSH on Toura new, free, one-day event series bringing Avalara's latest innovations directly to customerswill be held in Chicago and New York City next month, with additional cities to follow.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.

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Art of Accounting: Analysis of Top 100 Firms data

Accounting Today

Public accounting is a vibrant and strong profession and also a business, as shown in data from the latest rankings on firm revenues, partners and staff size.

Account 64
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Monday Morning Accounting News Brief: PwCers Will Fight You For Their AI; Federal Prison For Jilted Lover Who Swatted the IRS | 5.12.25

Going Concern

Here we are, back for another week. Yippee. Comments are off on the Monday news brief by default but you are welcome to hit us up via email or text if you have something to say. Now, here’s some stuff that’s going on. In Milwaukee, a Catholic charity is suing a former employee as well as Baker Tilly , the latter because they didn’t notice almost $2 was missing: Catholic Charities of the Archdiocese of Milwaukee is suing its former finance director, alleging she funneled hundred

Kansas 52
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FASB issues standard on acquirers in business combinations

Accounting Today

The Financial Accounting Standards Board released an update to improve the requirements for identifying the accounting acquirer in business combinations.

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The Ultimate Guide to Document Management for Accountants

Canopy Accounting

Collecting hundredsif not thousandsof client documents, saving them as recognizable names, and storing them in the right place is tedious and time consuming. After all, Every file needs to be in order, and all client information must be protected. However, protecting client information and documents (not by email, for example), sharing them with only the right staff members, and maintaining compliance is challenging to say the least.

Account 52
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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.

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The rise of conversational accounting with your dedicated accounting agent

Accounting Insight

Have you ever been in that situation when you just wanted to ask your accountant that quick question and get an instant answer? This is becoming a reality with the advancement of accounting technology and AI. Often I was waiting for that management report or responding to that one question from two months ago that I needed to find which report had the history.

Account 52
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Celebrate the Best in the Profession at the 2025 Top 100 ProAdvisor Reception

Insightful Accountant

Each year, Insightful Accountant honors the most dedicated, innovative, and impactful professionals in accounting through our Top 100 ProAdvisor Awards Program. And this year, were bringing that celebration to life in an unforgettable way.

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Report: AI in accounting in the UK

Accounting Insight

Artificial intelligence (AI) technology represents a turning point for many industries, including the accounting industry, as we see a shift in the way accountants are working as a result. In this report, we surveyed 100 accountants to discover how theyre using AI, what type of AI theyre using, their opinion on AI technology, their trust in it, and what they think the future will look like.

Account 52
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FASB Issues Standard Clarifying Accounting Acquirer in a Business Combination

CPA Practice

The Financial Accounting Standards Board published new ruleson May 12 that the board says improve the requirements for identifying the accounting acquirer inFASB ASC Topic 805, Business Combinations.

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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.

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Canopy Pricing: A Better Deal Than You Think (Especially When You Do the Math)

Canopy Accounting

When accountants look at practice management software, pricing is often one of the first questionsand one of the hardest to compare across platforms.

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PCAOB Gives Auditors More Video Resources on New Quality Control Standard

CPA Practice

The PCAOB has posted a brand-new set of staff presentation videos designed to help audit firms and auditors implement four areas of their quality control system under QC 1000,A Firms System of Quality Control.

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You're Hitting Revenue Goals, So Why Doesn’t It Feel Like Growth?

Basis 365

Youre hitting your revenue goals. Maybe even beating them. That should feel amazing, right? So why does it feel like you're barely keeping your head above water? You're not imagining it. As premiere providers of outsourced accounting services , we've seen this play out with business owners time and time again: Sales are strong, revenue is rising, but behind the scenes. its kind of a mess.

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IRS: No Change to Tax Interest Rates for Q3 of 2025

CPA Practice

For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily, the IRS said on May 12.

Tax 52
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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.