Wed.Nov 30, 2022

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How to Use Self Service for a Seamless Accounting Experience

Lockstep

Accompls. Accounts receivable (AR) teams, today, are bombarded with emails all day, every day. On average, AR inboxes receive over 100 emails each day. And a good number of these are requests from customers to resend invoices or other key accounting documents. These requests are often “lower priority” than other emails, often falling to the end of the day, week, or longer before a response is sent.

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Pay Transparency: Define Your Compensation Philosophy

BurklandAssociates

There is both a legal and cultural shift to ensure inclusive and equitable pay. New pay transparency laws are an example of 2023 initiatives that will directly impact a company’s Read More. The post Pay Transparency: Define Your Compensation Philosophy appeared first on Burkland.

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Ignition Council Set Transform Professional Services Interactions

Intuitive Accountant

The 16-member council of accounting industry leaders will inform Ignition’s strategic product direction, and accelerate technology adoption and upskilling programs.

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Pay Transparency: A Plan & Rollout Strategy Blueprint

BurklandAssociates

A step-by-step guide to help your startup build bands, audit, and roll out your scalable pay transparency program. The post Pay Transparency: A Plan & Rollout Strategy Blueprint appeared first on Burkland.

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Planning Your Restaurants 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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EY Reports a Rise in Naughty Behavior Now That People Have Returned to the Office

Going Concern

EY Oceania has released its second Value Realised Scorecard — a wide-ranging report on how the firm is doing — and Daily Mail Australia immediately latched on to page 33: Workplace Incidents: DM’s salacious headline “ EY rocked by soaring number of sexual misconduct and bullying complaints as big four accounting firm workers return to the office after Covid and the tragic death of a female staffer who plunged from 10th floor balcony ” slightly exaggerates the situat

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Accountant Networking: The Best Places + 9 Tips

Ryan Lazanis

Accountant networking is a tried, tested, and true method to build connections, grow your business, and advance your career. In this article, you’ll find out why accountant networking is so important, where you can network plus 9 of the best tips to succeed. Let’s go! Table of Contents. What is Networking in Accounting? Why is Networking Important for Accountants?

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Helping UK small businesses to reach net-zero with Ecologi

Xero

We’re excited to welcome Bristol-based climate tech start-up, Ecologi , to the Xero App Store to support service-based small businesses in the UK to track and reduce their impact on the environment. . It’s more important than ever for the business community to play its part in protecting our planet. During the recently concluded COP27, there was an increased call during the summit for stronger action on net-zero.

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How Do Big 4 Consulting Internships Stack Up Against MBB?

Going Concern

McKinsey, Bain, and Boston Consulting Group —the Nos. 2, 1, and 3 best consulting firms to work for, respectively, in 2022, according to Vault and Firsthand—either have really crappy internship programs or didn ’t want to participate in Firsthand’s internship survey because MBB is not among the top 15 consulting firms that provide the best experiences for their young’uns.

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Xero Updates North America: Fall/Winter 2022

Intuitive Accountant

Xero has made several notable updates to its product recently for the US and Canadian markets. Murph has summarized them for you.

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Latest product news — December 2022

Xero

Get ready to switch to new reports. If you haven’t made the switch to new reports, we urge you to start moving your work across now , so you have plenty of time to get used to them before the older versions are retired. Here are the latest features we’ve introduced to new reports: We’re introducing a current financial year by month report as well as a Bank Reconciliation report pack.

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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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Form W-9 vs. W-4: What Are the Right Forms for Employees and Contractors?

Patriot Software

You must withhold the right amount of taxes on employee wages when paying employees. But what if you need to pay an independent contractor? To keep tax information straight between independent contractors and employees, you need to know the difference between Form W-9 vs. W-4. Read on for the scoop. What is the difference between […] READ MORE.

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How Nonprofits Can Keep Raising Money in a Recession

GrowthForceBlog

6 min read. No one expected to navigate delicate fundraising efforts and be forced to shut down the majority of their fundraising events through a pandemic, but it happened. And- many nonprofits emerged stronger than ever before. Key Takeaways. What Is a Recession and What One Could Mean for Your Nonprofit: Despite the reluctance of state officials to officially declare that the United States is in a recession, according to the definition, we most certainly are…. 7 Tips to Continue Successfully

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Accrued Expenses: Explained

AccountingDepartment

Accrued expenses, also known as accrued liabilities, refer to expenses that are recognized on the books before they have been paid. The expense is recorded during the period in which it is incurred, rather than when it is paid.

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How to manage the Singapore GST rate change in Xero

Xero

In the 2022 budget announcement, Singapore’s Minister for Finance announced the GST rate will increase from 7% to 8% on 1 January 2023, and from 8% to 9% on 1 January 2024. This change will impact all Singapore businesses that file GST. Here’s what we’re doing to make it easy for you to manage this change in Xero. Update your default rate. We’ll make the new 8% rate available in Xero by 9 December 2022.

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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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Technology Modernization and Your Accounting System

Withum

You probably see the term “technology modernization” everywhere. It too often causes confusion or anxiety. Does “technology modernization” apply to me? How do I know? What do I do about it? Let’s focus on what technology modernization means for your organization specifically in relation to your accounting system. Also referred to as your enterprise resource planning (ERP) program , this includes: QuickBooks , Microsoft Dynamics Great Plains (GP) , Microsoft Dynamics NAV/Business Central , NetSui

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Best Startup-Friendly Banks

Shay CPA

The partnerships your startup makes early on can make or break you. That includes financial partners beyond investors. When you choose a bank, you lock yourself into a specific set of options: the specific services and products that each bank provides. . Yes, you can always switch banks down the road if the need arises. But most companies find that changing financial institutions is more work than it’s worth — and that means sticking with a banking partner even when they’re not ticking all of th

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Bookkeeping for Remodeling Business: 5 Strategies to Consider

Steve Feinberg

Construction and remodeling businesses don’t operate the same way as, say, the corner grocery store. As opposed to selling goods with relatively stable and predictable pricing, remodeling businesses provide a service with varying prices, wages that differ from job to job, and materials that can fluctuate dramatically in price. All of these and more can make accurate, effective bookkeeping for remodeling businesses difficult, which can lead to costly mistakes.

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Accelerating the Adoption of ePayments with Managed Services

Intuitive Accountant

MineralTree's Elizabeth Kowal explains why finance leaders realize the importance of AP, as well as the obstacles it faces, in a year marked by volatile supply chains and staffing issues.

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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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The Ultimate Year-End Checklist for Closing Your Books

Basis 365

It's the most wonderful time of the year until you realize that you still have year-end accounting tasks to complete. For new business owners, closing the books can be a daunting task. We've made the process easy by breaking it down into 17 steps. Although it may seem overwhelming, these steps will allow you to take control of your finances and be ready for the new year.

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Financial Tools for Distributed Companies

Summit CPA

The Virtual CPA Success Show: Episode 68. In this episode, Jamie Nau, our host and Summit CPA's Director of Accounting, sits down with Adam Hale, Partner at Anders CPAs + Advisors, and Jake Grimm, Summit CPA's Director of Technology, to discuss financial tools for distributed companies. If you are a business owner of a fully distributed company, this episode is for you!

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The juggling act of a company director

Menzies

Menzies LLP - A leading chartered accountancy firm. Around 1,000 people are disqualified from acting as a director of a company in the UK every year for reasons such as unfairly failing to deal with company taxes and, more recently, abuse of Covid-19 support schemes. Whilst there will always be some people setting out to defraud the system, in many cases directors don’t have the intention of acting in a way that causes them to be considered unfit to be a director.

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Updated Contribution Limits for 401(k) Plans for 2023

Anders CPA

Each fall, the Internal Revenue Service (IRS) reviews the contribution limitations for benefit plan contributions and other supporting factors based on inflationary increases and other factors. Several limits have been updated for 2023: For individual 401(k) participants, the maximum amount that can be contributed (pre-tax or after-tax Roth) to 401(k) plans has been increased to $22,500.

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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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Navigating the Cost of living crisis

Menzies

Menzies LLP - A leading chartered accountancy firm. Businesses are facing a really uncertain time with a combination of high interest rates, inflation, the energy crisis, Brexit, currency values, supply chain and recession. In addition to this, it has never been harder to find employees, and we are all wondering what the new world looks like after the pandemic lockdowns.

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Should Law Firms Make Pass-Through Entity Tax Elections?

Withum

Law firms are often structured as pass-through entities ( e.g., partnerships, LLCs, S-Corporations) due to traditional prohibitions against practicing law in corporate form. As such, in states that conform to the federal income tax treatment of pass-through entities, law firms are not subject to state income taxes – law firm owners ( e.g., partners, members, shareholders) are subject to state income tax on their respective distributive shares of the firm’s income.

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Autumn Statement – Although investors and companies might have wished for more, the markets react calmly

Menzies

Menzies LLP - A leading chartered accountancy firm. Chancellor Jeremy Hunt’s Autumn Statement has reintroduced a semblance of stability to the country, especially for the most vulnerable, and set out a decisive plan for growth following a series of worsening economic growth forecasts. Even after a calm, non-reaction from the markets, business support organisations have given the Autumn Statement a wary welcome, with some companies and investors wishing there was greater incentives for growth.

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Determining Law Firm Employee Classification Through the ABC Test

Withum

Many law firms are consumers of contract labor. This may take the form of “of counsel”, contract attorneys (e.g., attorneys hired to handle voluminous discovery requests) and other project-based support workers (e.g., bookkeeping, IT, marketing). Traditionally, the individuals rendering these services have been treated as independent contractors, per IRS guidance.

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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.

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Finance functions to ‘break free’ of constraints of annual cycles – with 82% saying stakeholders need more than financial performance measures

Accounting Insight

Global research into the evolving role of finance functions finds real-time analysis, and data beyond the financial, holds the key to navigating volatility and transitioning to a more sustainable future. The new report, the Planning and Performance Management Paradigm, by ACCA and Chartered Accountants Australia and New Zealand (CA ANZ) in association with PwC, asked over 3,000 finance professionals around the world for their views on the future of the finance function.

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PCAOB chair promises renewed vigilance

Accounting Today

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AvidXchange Expands Global Capabilities with Cross-Border Payments Launch

Intuitive Accountant

Initial availability of the embedded payment experience, SuiteApp, will be offered to NetSuite customers.

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Audit committees providing more disclosures about cyber and ESG

Accounting Today

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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.