Thu.Jul 07, 2022

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How to develop important key performance indicators to grow your business

Wellers Accounting

Ercan Demiralay FCCA explains the importance of key performance indicators to help you grow your business.

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Legal Protections for Franchise Dealers Against Direct Manufacturer Sales

RogerRossmeisl

As posted to CBT News on 6/14/22 (Click Image to View Clip – Run Time: 18 min, 46 sec) Automakers have been making some unprecedented moves with regards to electric vehicles. so much so that many franchise dealers are becoming concerned about the future of their businesses. In this clip, automotive attorney Len Bellavia sits down virtually with Jim Fitzpatrick on CBT News’ “Inside Automotive” to discuss recent factory announcements as well well as his perspective on the f

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Blog: Sales tax post-Wayfair: Costly for remote sellers, a cash cow for states

TaxConnex

If it feels to you like the whole economic nexus and sales tax landscape is one-sided, the U.S. Government Accountability Office and many small businesses seem to agree. A GAO report states that all states with a statewide sales tax and D.C. adopted remote sales tax laws covering online sellers in the wake of 2018’s Supreme Court Wayfair decision – and due to those adoptions, 33 states reported $23 billion in remote sales tax revenue in 2021.

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Tesla Model Y 4680 Structural Battery Pack Analysis

RogerRossmeisl

As posted to the Munro Live YouTube Channel on 7/5/2022 (Run Time 17 min, 23 sec) The team at Munro & Associates just dropped the structural battery pack (with 4680 cells) out of their brand new Texas-made Tesla Model Y. What they found is some that they’ve never seen. ever. The seats, console, carpet, etc. are mounted to the structural battery pack which can be removed in one assembly from the bottom of the car.

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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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EY Continues Streak As Big 4’s Busiest Audit Firm

Going Concern

EY has had a few firsts in recent years: first Big 4 firm with unlimited PTO , first audit firm to get a $100 million fine from the SEC , first Big 4 firm to compare men and women with waffles and pancakes , and first place among the Big 4 in public company audit clients for the past seven years. Make that eight straight years now. Audit Analytics recently released its annual market share analysis of auditor engagements at public companies , and the top 10 firms by registrant counts in 2022 are

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3 Withum Partners Named to NJBIZ 2022 Accounting Power 50 for Second Consecutive Year

Withum

Withum is proud to announce that three Partners, including Managing Partner and CEO Bill Hagaman , were named to the 2022 Edition of NJBIZ ’s Accounting Power 50 List. In the Number 6 spot , Bill Hagaman was praised for his longtime leadership at the Firm and his success in its growth. Additionally, the profile expands on Bill’s efforts in fostering an inclusive workplace for Withum teammates, including the Firm’s placement on lists like the Human Rights Campaign’s Corporate Equality Index and D

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Bill Bradshaw Named to ROI-NJ’s List of Most Influential DEI Leaders in 2022

Withum

Bill Bradshaw , Director of Inclusion and Diversity at Withum, was named in the New Jersey publication ROI-NJ as a top DEI leader in the state. Since joining the Withum team as the first Director of Inclusion and Diversity, Bill spearheaded initiatives that further established Withum’s commitment to fostering authenticity, transparency and engagement to uphold three pillars of inclusion and diversity; workforce, workplace, marketplace.

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Elements Effective Accounting Workflow Management Systems | Canopy

Canopy Accounting

Is your accounting firm intentional about process and workflow? If the answer is no, it’s only a matter of time until processes start breaking down. Without a well-defined workflow management system and the appropriate processes in place, it doesn’t take much for things to fall apart—it could be a seasoned employee leaving and taking legacy knowledge with them, or restructuring your file organization system.

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What should you cover in a mid-year review?

Basis 365

Now that we are halfway through 2022, it is time to assess your business. Business owners can use mid-year reviews to evaluate their business and adjust to reach their goals. A reality check can be a great way to improve the performance of your business over the second half. It takes time and dedication to conduct a valuable assessment. Make sure you have time to prepare for your evaluation.

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The Talent Crunch is So Bad Firms You’ve Never Heard of Are Offering $7000 Referral Bonuses

Going Concern

LaPorte who? Well now you’ve heard of them. From New Orleans City Business : “Just like every other company and industry, we have felt the effects of the ‘Great Resignation,’” said Patty Paz, chief operating officer at LaPorte CPAs & Business Advisors. “We have worked hard over the last two years to put in place several initiatives to even out our losses and gains.”.

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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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“Would You Like to Round up for Charity?” 6 Facts to Know About Checkout Donations 

Patriot Software

You’re at the checkout counter, wallet in hand, preparing to pay for your purchase. But before you can, the cashier asks if you’d like to round up or make a donation for charity. Sound familiar? If so, you’re part of the millions of consumers hit with a request for checkout donations. And if your business […] READ MORE.

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Clockwork – A July 2022 Analytics/Reporting App

Intuitive Accountant

Along with reporting apps, we're looking at apps that perform financial metrics and business analytical forecasting. See why Clockwork is an easy to use app to predict, manage and plan your business finances.

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NetSuite Automation Could Be What You Need To Grow

AccountingDepartment

Implementing a strong ERP system like that of NetSuite lays the groundwork for companies to further their automation capabilities, efficiencies, and more.

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Record Keeping in the New Landscape

Intuitive Accountant

While the pandemic's worst days may appear to be over, we still live in a different world. DOCUDavit Solution's Sid Soil examines how everything continues to change for legal record keeping.

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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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Congrats to Xero’s 2022 NABA Scholarship recipient

Xero

At Xero, we’re passionate about mentoring and encouraging the next generation of accounting, small business, and finance leaders. One of many industry associations we are proud to support is the National Association of Black Accountants (NABA). We were honored to be on the ground at NABA’s Annual Convention last month as a sponsor of their 2022 scholarship program, which has provided over $375,000 in scholarships to their students. .

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3 Withum Team Members Named to NJBIZ 2022 Accounting Power 50 for Second Consecutive Year

Withum

Withum is proud to announce that three Partners, including Managing Partner and CEO Bill Hagaman , were named to the 2022 Edition of NJBIZ ’s Accounting Power 50 List. In the Number 6 spot , Bill Hagaman was praised for his longtime leadership at the Firm and his success in its growth. Additionally, the profile expands on Bill’s efforts in fostering an inclusive workplace for Withum teammates, including the Firm’s placement on lists like the Human Rights Campaign’s Corporate Equality Index and D

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eCommerce: Lowering traditional barriers and inspiring entrepreneurialism

Xero

eCommerce is lowering traditional barriers to entry for small businesses, says a new Xero study, which is creating a new generation of profitable niche operations. We surveyed 171 accountants and bookkeepers – with a collective clientele of about 6,000 small businesses – to learn how ecommerce was changing business ownership. To participate in the study, advisors had to have clients who were online-only and clients who were in traditional brick-and-mortar businesses.

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Important Changes for Chicago Businesses, Effective July 1, 2022

Nancy McClelland, LLC

Chicago’s Minimum Wage Increase, Fair Workweek Changes, and Sexual Harassment Laws Enhancements — and a Chicago Sick Pay Reminder. The City of Chicago’s fiscal year runs from July 1-June 30, so most changes tend to take effect at the beginning of the “new year” This year is no exception — and there’s a lot that has changed.

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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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How Much Should You Increase Your Prices This Year?

Ryan Lazanis

With inflation hitting records in many parts of the world, how should you approach price increase this year? In this podcast episode, I’ll be taking a closer look at improving your pricing strategy without alienating existing clients. Listen below. 0:54 – It is a cop-out to increase prices based on rising living costs without also increasing the value that is provided. 1:20 – You are short-changing yourself if you utilize a price increase approach based on inflation. 1:36 ̵

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How Synder helps busy bookkeepers get back valuable hours and ensure accurate books for their clients

Snyder

Bookkeepers only have so many hours in each day, so how can they make the most of their time and get more clients, while ensuring accuracy for each client they work with? . While some bookkeepers have become concerned that tech is out to replace them, industry professionals like Marissa Stillwell of Bookkeeper360 know that using the right tech tools to their advantage is the key to future proofing their business.

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What Is Surprise Balance Billing, and What Does Our Health Plan Have to Disclose About It?

ThomsonReuters

QUESTION: What is surprise balance billing, and what must our group health plan disclose about it? ANSWER: Balance billing occurs when a provider bills a covered individual for charges disallowed by the plan because the charges exceed the plan’s allowed amount. It occurs only with out-of-network providers since in-network providers have agreed to accept a negotiated rate as payment in full for their services, and there is no outstanding balance after the plan and participant have each paid thei

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The Impact of Turnover and Inflation on Business Owners

GrowthForceBlog

7 min read. It's no secret that right now is a difficult time to be in business.

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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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IRS Updates Determination Letter Application Forms to Reflect Electronic Filing

ThomsonReuters

Form 5300, Application for Determination for Employee Benefit Plan; Instructions for Form 5300 (Rev. June 2022); Form 8717, User Fee for Employee Plan Determination Letter Request (Rev. June 2022). Form 5300. Instructions. Form 8717. In connection with the move to all-electronic filing of Form 5300 as of July 1, 2022 (see our Checkpoint article ), the IRS has updated related forms and instructions.

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OSCPA gives $54K in scholarships to Oklahoma accounting students

Accounting Today

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Agencies Warn of Enforcement Actions Targeting Compliance With Contraceptive Coverage Mandate

ThomsonReuters

Letter from Secretaries Becerra, Yellen, and Walsh on the ACA Contraceptive Coverage Requirement (June 27, 2022). Available at [link]. Noting “troubling and persistent reports of noncompliance,” the Secretaries of DOL, HHS, and Treasury have jointly issued a letter warning health plan sponsors and insurers to make sure their plans comply with the Affordable Care Act (ACA) contraceptive coverage mandate to avoid future enforcement actions.

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IRS audited former FBI directors Comey and McCabe

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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OCR Issues Post-Dobbs Guidance on HIPAA Privacy and Security Issues Relating to Reproductive Health Care

ThomsonReuters

News Release: HHS Issues Guidance to Protect Patient Privacy in Wake of Supreme Court Decision on Roe (June 29, 2022); HIPAA Privacy Rule and Disclosures of Information Relating to Reproductive Health Care (June 29, 2022); Protecting the Privacy and Security of Your Health Information When Using Your Personal Cell Phone or Tablet (June 29, 2022). Release.

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Winning the war for talent

Accounting Today

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Are You There?

RitaKeller

“Few things are harder to put up with than the annoyance of a good example.” – Mark Twain. You are expecting your people to begin coming back to the office. You are okay with the fact that they want flexibility and prefer a hybrid type of arrangement. Many firms have designated two days in the office and three days at home. Of course, there are other variations on this type of arrangement.

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Tax Fraud Blotter: Garbage in…

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.