Wed.Feb 12, 2025

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Bookkeeping Basics for SaaS Companies: Managing Revenue Recognition

Shay CPA

On the surface, bookkeeping might not seem that complicated. A client or customer pays you money, so you record it on your books on the date it was paid. Right? Wrong. Because of the Financial Accounting Standards Boards (FASBs) Accounting Standards Codification (ASC) 606 , its mandated that companies use whats called revenue recognition. This means only putting something on your books as revenue as youve actually earned the money.

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Turning cash flow into cash now with Paidnice

Xero

“When my debtor workflow is turned off, people stop paying me almost immediately.” This stark observation from Haley Reyners, founder of My Two Cents Accounting Services , highlights a common challenge facing small businesses. For her accounting and advisory firm, which is based in Northland, New Zealand, having over $60,000 tied up in outstanding invoices wasn’t just a number it was a threat to business sustainability. “I’m the same as any other small business own

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Trending Sources

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PCAOB Pulls Rules on Audit Firm Metrics

CPA Practice

The Public Company Accounting Oversight Board on Feb. 11 filed a notice with the SEC to withdraw its new standard on audit firm reporting of standardized firm and engagement metrics for approvala victory for those that opposed the rules, including many of the largest accounting firms in the U.S. and the AICPA.

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Free Webinar: Build a Million Dollar Firm With Advisory Services

Going Concern

If you don’t have a lunch date on Valentine’s Day why don’t you spend an hour with The CFO Project for their free masterclass How to Build a Million Dollar Firm Through Advisory Services. You’ve read all the articles talking about firms bringing in bags of cash by developing and expanding CAS practices, now you can learn how to do it for your firm.

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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.

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FBI Warns About Unpaid Toll Texting Scam

CPA Practice

The Federal Bureau of Investigation has issued a warning about scams involving road toll payments being sent through text messages across the country, including Texas.

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Modernizing Workflow Efficiency with Canopy: Little, Shaneyfelt, Marshall & Co.

Canopy Accounting

Profile Little, Shaneyfelt, Marshall, & Co. (LSM), a trusted accounting firm based in Little Rock, Arkansas, has served clients since its inception in the 1980s. In 2022, Aaron Shaneyfelt and his colleagues took ownership from his father, ushering in a new era for the firm. Building on decades of trusted service, Aaron and his co-owners had a vision to not only preserve LSMs strong reputation but elevate it to meet the challenges of todays fast-paced accounting world.

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Sources of Information for Fraud Investigations

FraudFiles

Without information, a fraud investigation goes nowhere. There are abundant sources of information on people and companies, and the availability of personal information on the internet continues to grow. Doing a thorough fraud investigation often goes beyond just analyzing documents produced by the client. The best forensic accountants and fraud investigators are able to find [.

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Cybersecurity Remains Top Priority for Audit Committees

CPA Practice

For the fourth straight year, cybersecurity is the No. 1 priority for audit committees at public companies, outside of financial reporting and internal controls, according to survey findings released on Feb. 12 by the Deloitte Center for Board Effectiveness and the Center for Audit Quality.

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Audit committees eye cybersecurity, risk management

Accounting Today

Cybersecurity ranks among the top priorities for audit committees, enterprise risk management, and finance and internal audit talent, says a new survey.

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Inflation Rose in January, Report Says

CPA Practice

The monthly consumer price index rose in January by the most since August 2023, led by a range of household expenses like groceries and gas, as well as housing costs.

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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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Findings from the 2025 Corporate Tax Department Technology Report: More tech, please

ThomsonReuters

Blog home The Thomson Reuters 2025 Corporate Tax Department Technology Report offers the latest research on how corporate tax departments are incorporating new technologies into their operations, as well as the many challenges tax departments face in adopting new technological systems and processes. Historically, corporate tax functions have been slow to embrace new tax technologies, due primarily to budget constraints, inadequate technical infrastructure, a lack of tech-savvy personnel , and c

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Forvis Mazars Launches Transportation Profitability Analysis & Network Management Consulting Service

CPA Practice

Data and insights from the tool, together with the consulting capacity of the team at Forvis Mazars, will provide an Unmatched Client Experience for carriers seeking to improve their bottom line.

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Digits launches automated invoicing solution

Accounting Today

Digits announced the release of Digits AI Invoicing, a new product designed specifically for startups which enables users to manage their invoicing workflows visually, with just a few clicks.

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Accounting’s Pricing Conundrum in the Age of Generative AI 

CPA Practice

No one said running a successful accounting practice was easy. Even in the smoothest and most uneventful of times, there are a variety of factors that need to be taken into consideration and successfully managed to ensure profitable operations.

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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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Meta's accounting move to boost profit by billions

Accounting Today

Meta Platforms Inc. made a small change to how it depreciates its AI infrastructure that's likely to increase the company's profit by billions this year.

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AICPA Thanks Ways and Means Committee for Approving Endorsed Legislation

CPA Practice

The AICPA has long supported the proposals and will continue to work to advance comprehensive proposals that enhance Internal Revenue Service (IRS) operations and improve the taxpayer experience.

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PCAOB sanctions former Deloitte Colombia partner

Accounting Today

The PCAOB sanctioned Gabriel Jaime Lpez Dez, a former Deloitte Colombia partner, for issuing an audit report before completing all necessary audit procedures.

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New Jersey CPA Sentenced in $9M Syndicated Conservation Easement Tax Scheme

CPA Practice

A New Jersey accountant has been sentenced to 24 months in prison for his role in the promotion and sale of abusive syndicated conservation easement tax shelters.

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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.

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Aprio plans to open law firm with Radix Law in Arizona

Accounting Today

Aprio, a private equity-funded Top 25 Firm based in Atlanta, is joining with Radix Law in Arizona to form Aprio Legal LLC.

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Digits Debuts AI Invoicing Solution for Startups and SMBs

CPA Practice

The AI-powered accounting platform has launched AI Invoicing, a solution that gives founders and small business owners control over both accounts payable and accounts receivable.

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From intern to CEO

Accounting Today

No matter where you are in your career, you control your own destiny.

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Small Businesses Saw Improved Performance, Says Xero Data

CPA Practice

For the first time since late 2022, sales growth was positive and late payments and time to be paid metrics both had shorter waiting times.

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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.

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PCAOB withdraws rules on firm and engagement metrics, firm reporting

Accounting Today

The Public Company Accounting Oversight Board has withdrawn the two standards it approved on firm and engagement metrics and firm reporting.

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Ignition names Bec Donnelly as new SVP for People & Culture

Insightful Accountant

Seasoned HR leader Bec Donnelly joins Ignition as company scales for global growth

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New tools for QBOA, and other tech stories you may have missed

Accounting Today

New tools in QuickBooks Online Accountant, a million predictions around AI, and other developments in tech from the past month.

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NetSuite News: Little Words Project Expanding with NetSuite

Insightful Accountant

The original word bracelet brand leverages the power of the suite to centralize data, improve decision making, and increase sales.

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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.

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Growing your firm? Let your clients lead the way

Accounting Today

Your clients hold the insight into where you should be investing, shoring up, or expanding offerings.

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Federal Employee Buyouts to Impact IRS

Insightful Accountant

Recent developments at the Internal Revenue Service are poised to create significant challenges for tax practitioners during the 2025 filing season. Despite initially accepting buyout offers, some are now being required to work through May 15.

Tax 52
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Accounting Automation in Practice Management: Revolutionize Your Workflow

Canopy Accounting

If the only technology an accountant needed was a calculator, improving efficiency would just come down to who can type the fastest (without messing up). But, like everything else, todays accounting industry relies on advanced software for managing books, handling invoices, and communicating with clients.

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Ignition Announces New SVP of People and Culture

Insightful Accountant

Ignition names former SiteMinder senior HR leader Bec Donnelly as SVP of People & Culture as the company scales for global growth.

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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.