Wed.Aug 24, 2022

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How to Recession Proof Your Small Business

Basis 365

Financial experts are forecasting a recession is nearing, with many banks rapidly increasing interest rates to combat decades-high inflation. This action could lead to a prolonged economic downturn that can last for months. However, it is also an opportunity to review your business and improve. We've outlined a few strategies to help you determine how to recession-proof a business.

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ATTENTION: There Is Currently a Nationwide Adderall Shortage

Going Concern

This is devastating news for public accounting. Bloomberg : Nearly two-thirds of community pharmacies had trouble ordering the popular attention-deficit/hyperactivity disorder drug Adderall at the end of July and beginning of August, at a time when demand is at all-time highs. The National Community Pharmacists Association surveyed store owners and managers about their experiences purchasing brand and generic Adderall between July 25 and Aug. 5.

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IRS offers tax penalty relief to late-filing taxpayers, refunding $1.2B in penalties

Accounting Today

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OnPay – A Payroll & Benefits Synopsis

Intuitive Accountant

The second in our Payroll & Benefits mini-series is OnPay—featuring everything a business needs in an online payroll platform, which also offers HRS and benefits.

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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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Product wrap from Xerocon New Orleans 2022

Xero

The heat, the food, the music, the energy. There’s really no place like New Orleans, Louisiana (known affectionately as NOLA). It was the perfect location to reconnect with our valued accounting and bookkeeping partners, and share some exciting plans for new tools and features designed to make inventory management, bank reconciliation and tax management simpler and more seamless.

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Nurturing Diversity in Today's Small Business Landscape

Intuitive Accountant

Akili Well's Josie Santiago, one of 35 entrepreneurs awarded a $10K Invest in Progress grant from Sage and The BOSS Network, discusses how the funding is helping even today's playing field.

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Ready, Set, Go! Mark Your Calendars With Sales Tax Holiday Dates

Patriot Software

For business owners in most states, collecting and remitting sales tax is part of the job description. But on select dates throughout the year, your customers can take advantage of a sales tax holiday. As a business owner, you must know about and adjust your collections process for sales tax holidays. Read on to learn […] READ MORE.

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Wellbeing Is the Future of Work With Nita Cumello of Thomson Reuters

Withum

Explore Other Episodes. The post Wellbeing Is the Future of Work With Nita Cumello of Thomson Reuters appeared first on Withum.

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Xero Small Business Insights expands to the United States and Canada, providing timely updates on state of small business

Xero

It takes passion and perseverance to run a small business. I saw this first hand growing up in my family’s small business in rural Canada. Now, more than ever, running a successful small business takes insight. Historical trends and timely market data can, when used effectively, help small businesses and their advisors adapt to complex present realities and prepare for future ones.

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6 Tips on how to protect your data with remote employees

Basis 365

Many organizations are now at greater risk due to the dramatic increase in people who work from home. Therefore, you and your employees must take steps to protect sensitive data in your company and its privacy. You can start by ensuring everyone in your team is aware of these best practices for data protection when working remotely. 1.Keep your devices patched up and current You can prevent your devices from becoming vulnerable by setting aside time each week for security updates.

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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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In 2019, Academic Researchers Tried to Answer the Question ‘Is Accounting a Miserable Job?’

Going Concern

Stumbled across this interesting paper by authors Paul Madsen and Jeffrey Piao today and thought it worth sharing despite its age (2019). Misery in accounting is timeless after all. Plus it’s relevant given the ongoing accounting pipeline problem and concerns about accountant shortages as the paper talks about how the stereotype of “the miserable accountant” actually draws people to the profession for whom misery is a good fit.

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Small businesses can go global, but avoid these financial pitfalls

Accounting Today

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The MacGyver-esque Way to Track Consignments for the Consignee

Intuitive Accountant

Internationally renowned ProAdvisor Esther Friedberg Karp discusses her thoughts on a recent article from Intuit on how to record consignment sales. See what she has to say.

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Fathom acquired by Access Group

Accounting Today

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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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Lockstep Inbox Update: Global Search

Lockstep

If you’re like most accounting teams, you probably spend a lot of time searching through your email for specific information. It can be frustrating when you can’t find what you’re looking for, especially when time is of the essence. That’s why we’re excited to announce Lockstep Inbox ’s Global Search feature! With Global Search, you can quickly and easily search for transactions, emails, contacts, notes, and more across and within Lockstep Inbox.

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Paychex CEO announces retirement

Accounting Today

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All About the SSBCI for Skagit County Business Owners

SkagitCountyTaxServices

Fill in the blank: It takes a village to. While you’re probably thinking of child-rearing right now, I’d like to suggest that it applies to your Skagit County small business as well. And particularly during inflationary times. The 2020 world made it painfully obvious that going it alone could mean crash and burn for your business. Hence the creation of PPP loans and ERC credits… government-supplied village helpers made for you.

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Plurality of crypto investors disappointed in performance

Accounting Today

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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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New York Health Care Worker Bonus Program – Claim Funds by September 2

Withum

The launch of the Health Care and Mental Hygiene Worker Bonus (HWB) Program in New York State provides funding to help eligible providers recruit and retain healthcare workers. While the opportunity to provide staff with bonuses is welcomed and highly necessary, there are rules and requirements in claiming the funds that must be followed as well as financial penalties for noncompliance.

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KPMG to relocate NYC HQ as it downsizes office space

Accounting Today

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Integration with Accounting Software: a Short Feature Overview

Snyder

Why is integration with accounting software so important? Financial management is the backbone of any organization, be it a small business or a large corporation. After all, money is the lifeblood of any company. If you want to keep your company healthy, balanced books are essential. At their heart, financial statements show you how much money you have, where it’s coming from and how you’re spending it.

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Singapore concludes Noble Group saga with record fine, warnings

Accounting Today

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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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But Who’s Counting? Episode 11: Restaurant Industry Edition – How to Keep Cash Flowing and Costs Controlled in a Post-COVID Economy

Anders CPA

From recovering from pandemic shutdowns and health requirements to dealing with a widespread labor shortage and rising food costs, it’s been a rough couple of years for the restaurant industry. But expansion and relief are happening if restaurant owners understand their options. In this special Restaurant Industry Edition of But Who’s Counting?

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Boomer's Blueprint: Innovation … separate, or part of operations?

Accounting Today

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How to Protect Your Small Business Against Inflation

Basis 365

The post-pandemic transition period has been tricky for small businesses that have survived COVID-19. Inflation rates have reached a multi-decade-high of 8.6%. The consumer price index shows everything, including labor and goods, is rising. Small and mid-sized businesses with limited resources will likely take the most significant hit. You should take steps to ensure that your small business is inflation-ready.

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A secret weapon in the war for talent

Accounting Today

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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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Top Challenges for Digital Agencies and How to Overcome Them

Summit CPA

The Virtual CPA Success Show: Episode 61. An important skill business owners should have is foresight. As the owner, it is vital for you to always be on the lookout for external and internal forces that can impact your business. Being up to speed with the current trends in your industry is important to guide you in planning and decision-making; this will help you pivot quickly if necessary.

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A Forensic Accountant As a Consultant

FraudFiles

Forensic accountants are often retained in litigation as expert witnesses, with the intention that they will provide expert opinions and testimony on behalf of the client. Although retention as a consultant is less common, it is an important option to consider. Sometimes, the work of the consultant can be even more important than the work of the testifying expert.

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Taking on the uncertain future of financial services

Accounting Insight

Welcome to reality, where inflation is rapidly dominating the economy around the world. It is an inevitable phenomenon that no person or organisation can escape. £1 in 2021 is equivalent to the purchasing power of about £1.06 today, crazy right? This means that today’s prices are 1.06 times higher than average prices a year ago with no real end in sight.

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Why Has E-Commerce Become So Popular?

Snyder

These days you can order anything, from anywhere, with just a few taps on your mobile. Groceries, clothing, car parts, medication, and any other product you could conceivably wish to buy are likely to be available from an e-commerce store. A quick glimpse at e-commerce accounting insights will show you how this $599 billion sector continues to expand in reach and prominence.

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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.