Wed.Jul 20, 2022

article thumbnail

Different Payments Types Explained

Lockstep

With inflation discussions dominating the conversation today, it is more important than ever to decrease your days sales outstanding (DSO). This not only increases your cash flow but reduces the risk across your business. One way to help ensure more customers pay on time (or sooner) is to increase the payment methods available to your customers. And choosing the right payment service can be complicated, especially when the options come with so many different terms.

article thumbnail

The IRS Warns Taxpayers To Be Wary of the Dirty Dozen Tax Scams for 2022

Withum

As far as the IRS is concerned, not all tax scams should be treated equally. Last month the Service announced which scams made the list comprising the IRS’s “Dirty Dozen” for tax season 2022, meriting extra scrutiny. Included on the list is a wide range of tax evasion tactics. This article highlights four of them, namely syndicated conservation easements, micro-captives, return nonfiling, and secreting assets. .

Tax 125
Insiders

Sign Up for our Newsletter

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

article thumbnail

Cash flow crunch: Delving deeper into the cash flow challenges affecting small businesses

Xero

I’m so thrilled to be back at Xerocon London connecting with so many of our accounting and bookkeeping partners and app partner community. It’s been such a long time since we were all able to be together in person, and it’s great to be making real-life connections again. . As we all begin to navigate this post-pandemic business environment, it’s clear that many small businesses have faced huge challenges.

article thumbnail

What Automation Can Do For Your Accounting Firm | Canopy

Canopy Accounting

Across all industries, businesses will run into necessary yet time-consuming repetitive tasks. The same is true for those in the accounting industry. So, what can you do to ease the burden? Well, thankfully there is an answer—automation. Research shows that at about 60% of jobs, about 30% of the activities completed can be automated. Industry trends show that accountants are already adopting automation into their workflow.

article thumbnail

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.

article thumbnail

Announcing Xero Go: Our new app for UK-based sole traders

Xero

It was so exciting to be back on stage at Xerocon London this morning for the first time in nearly three years. I’ve really missed the opportunity to connect in person with our amazing accounting, bookkeeping and app partner communities — especially on such a large scale. I was also really excited about one of the reasons I was on stage — to unveil the early release of Xero Go , a new mobile app we’ve developed to help ease the burden of financial admin for sole traders in the UK.

article thumbnail

KPMG Poaches Someone From Grant Thornton and Issues a Press Release, Part IV

Going Concern

It ‘s been awhile since we paid attention to people leaving Grant Thornton for KPMG and vice versa, but this news that was made public yesterday is a biggie: well-known Grant Thornton Chief Economist Diane Swonk turned in her purple rose after more than four years with the firm and has joined the House of Klynveld in that same role. Here ’s the press release KPMG sent out yesterday : KPMG has named Diane Swonk – a prominent economist, recognized industry voice and sought-after business advisor –

More Trending

article thumbnail

Fraud: Is It Happening to You?

Withum

Occupational fraud is detrimental to an organization, impacting both internal operations and external reputation. With fraudulent schemes on the rise and constantly evolving, organizations should educate themselves on common occupational fraud schemes to determine whether they too, have been or could be a victim of fraud. In our previous article , we explored the Association of Certified Fraud Examiners (“ACFE”) 2022 Report to the Nations that was released earlier this year and discussed the eme

article thumbnail

Going Virtual (Today)

Intuitive Accountant

1st Step Accounting's Nayo Carter-Gray has all the information you need to thrive in today's digitally paced landscape. Sign up for her webinar, 'Taking Your Firm Virtual,' and see why it's time to embrace the cloud.

Account 83
article thumbnail

The Pros & Cons of Accrual Accounting

AccountingDepartment

Entrepreneurs usually don’t go into business to spend all their time doing accounting. So, if you’re like most business owners, you may not necessarily be familiar with the options in accounting methodologies. Accrual accounting is one of the two common methods used. The other is cash accounting. Here’s a look at the pros and cons of the accrual accounting method, to help you understand the advantages it offers over the cash accounting method for many companies.

article thumbnail

The PA Employer’s No-fuss Guide to Payroll Tax in Pennsylvania 

Patriot Software

Payroll tax in Pennsylvania is notoriously difficult, confusing, and overwhelming for new and veteran employers alike. And when it comes to payroll, you probably don’t want to waste time making preventable payroll mistakes. To help simplify PA employment tax, we’ve put together the following article to review your employer responsibilities. And, we’ve provided plenty of […] READ MORE.

article thumbnail

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.

article thumbnail

Dryrun – A July 2022 Analytics/Reporting App Synopsis

Intuitive Accountant

Your projections won't come up dry if you rely on Dryrun for your financial modeling and cash management advisory services. Murph on how it provides practice focused financial monitoring, modeling and management.

73
article thumbnail

It’s big, it’s beautiful and it’s back – Xerocon London 2022

Xero

Today, we kicked off Xerocon London 2022 and it was clear from the excitement and buzz at the event that our accountants and bookkeepers, app partners and exhibitors were as happy as we were to come together again as a community. Thank you to the more than 2,000 delegates and app partners who joined us today. . I opened the event outlining our vision and the steps we are taking to become the most trusted and insightful small business platform.

article thumbnail

PwC Director Lets His Family Know He Probably Won’t See Much of Them on Their Family Beach Vacation

Going Concern

This is so sad. via r/accounting. This is almost as bad as the time Moss Adams boasted about how this one guy would be working on dual monitors at the pool all weekend because flexibility. The post PwC Director Lets His Family Know He Probably Won’t See Much of Them on Their Family Beach Vacation appeared first on Going Concern.

Account 72
article thumbnail

Clarification on furnishing Correct Information in GSTR 1 and GSTR 3B and Amendment in GSTR 3B

VJM Global

Return filing under Goods and Service Tax (“ GST ”) is a key element and it is necessary to furnish correct information in returns. Department has taken all possible steps to simplify the process of return filing by providing the feature of auto-population of data in GST returns. With effect from December 2020 , FORM GSTR-3B gets auto-generated on the portal.

article thumbnail

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

article thumbnail

A Labor Shortage in Singapore Is Forcing Big 4 Firms to Cough Up Higher Salaries

Going Concern

Picture it. Singapore. 2022. Bloomberg reports : The Big Four accounting firms are showering staff with pay increases in Singapore, where an acute labor shortage is driving a fierce contest for talent. PricewaterhouseCoopers LLP and Deloitte LLP lifted base salaries starting from July 1, according to internal documents from the two firms reviewed by Bloomberg News.

audit 57
article thumbnail

How To Create an Effective Data Dashboard That Tells a Story

Snyder

Data is everywhere. There’s more new information and data available today than ever before. As a result, businesses of all sizes are looking for ways to analyze their data and make informed decisions about how to move forward. It’s a powerful tool for helping you run your business more effectively and efficiently. However, many dashboards are nothing more than an incomprehensible mess of seemingly random numbers.

article thumbnail

Cybersecurity Best Practices for Local Governments and Municipalities

LSLCPAs

How much do your agency’s employees know about cybersecurity? Are they familiar with the concepts of ransomware or social engineering? We are constantly inundated with news of the latest data breach. As a result, we may think we’ve become fluent in the language of cybersecurity. Unfortunately, we have not, or our cybersecurity breach statistics would.

article thumbnail

Data Analysis in E-commerce

Snyder

With AI surging and governments around the world playing Whack-A-Mole with privacy legislation, data analysis is clearly the biggest game in town when it comes to anything in the online world. Many people think that money is what makes the world go around, and while that’s true in the real world, in the digital world, it’s data that is the primary commodity. .

article thumbnail

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.

article thumbnail

How Employee Experience and Customer Experience Connect

Summit CPA

Customer experience (also known as CX) is becoming increasingly important. Now more than ever, customers have a range of companies to compare, and they are often choosing the company that offers the best customer experience. Even if a service costs more, clients are willing to pay for more value and better experience. That’s why it is important for every business to pay attention to how CX could be improved even if your customer experience ratings are already high.

CPA 52
article thumbnail

Lifestyle Analysis in Divorce Cases

FraudFiles

One of the chief concerns in a divorce or child custody case is identifying the true income of one or both of the parties. It is not unusual for such a case to include allegations of hidden income or assets. It is common for a closely held business to suspiciously encounter declining sales and profits following the filing of a family law case. In each of these instances, properly determining the income of the party is critical to getting a fair and equitable settlement, maintenance award, or chi

article thumbnail

Freelancers and gig workers facing tax challenges

Accounting Today

Tax 106
article thumbnail

Publicize Your Benefits

RitaKeller

“Those who don’t believe in magic will never find it.” – Roald Dahl. I have a Google notification set to alert me about accounting firm news. I noticed that a firm in a large city earned several spotlights in the news, one from a local source, and it was picked up by Yahoo news. The news is (and it is old news to many of us) that the firm is closing its offices at noon on Friday for the remainder of the summer.

cpas 45
article thumbnail

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.

article thumbnail

ESG reporting requires the right people and processes

Accounting Today

article thumbnail

Going Concern Turns 13 Today, There Will Be Cake in the Break Room Later

Going Concern

It was summer 2009 when this website came to be and it was a glorious time. Obama had been inaugurated earlier that year, the financial crisis was still very much top of mind for everyone including us, and I’d carved out a tiny bit of internet fame for photoshopping dollar bills coming out of Federal Reserve Chairman Ben Bernanke’s naked ass.

article thumbnail

Big Four audit firms dangle higher pay to keep Singapore talent

Accounting Today

audit 98
article thumbnail

What is Lockstep® Inbox? – It Saves You One Day a Week

Lockstep

Lockstep® Inbox creates an shared inbox where accounting teams professionals can work better with customers and vendors – get start for free (add in link). Today, more than 90% of accounting professionals are using manual personal, email inboxes and spreadsheets to manage their “digital” accounting workflows. This 90% didn’t have any automation connected to their accounting inboxes through collaboration software, until now.

article thumbnail

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.

article thumbnail

Senators push for last-minute tax break in semiconductor bill

Accounting Today

Tax 98
article thumbnail

IIA sees demographics, priorities changing in internal audit

Accounting Today

audit 98
article thumbnail

U.K. audit watchdog slams ‘unacceptable’ quality of Mazars and BDO’s work

Accounting Today

audit 98
article thumbnail

Service, enforcement, diversity: The IRS has a plan for that

Accounting Today

Tax 98
article thumbnail

How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.