Wed.Nov 02, 2022

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New banknotes means more money laundering – here’s how companies can spot it

Accounting Insight

The ‘trusty’ paper banknote, which for so long has been a staple in many people’s lives, has come to an end. The Bank of England’s deadline for the legal tender status of paper £20 and £50 banknotes was the 30th September. Quite simply, the notes are now no longer usable. This likely poses a problem for two groups of people: those who have legitimately earned and saved money outside of the banking system and those who have cash reserves that have been earned from illegitimate and illegal

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Introducing Burkland’s New Toolkit to Help Extend Your Startup’s Cash Runway

BurklandAssociates

Burkland has compiled a new toolkit to help you extend your startup’s runway with intelligent scenario planning, cost reduction, and cash flow measures. The post Introducing Burkland’s New Toolkit to Help Extend Your Startup’s Cash Runway appeared first on Burkland.

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The Accounting Talent Shortage is Not New, You Guys

Going Concern

Although the accounting talent shortage seems like something that just popped out of nowhere and couldn’t possibly have been predicted, oh, a decade ago, I feel compelled to remind everyone that we here at Going Concern saw this coming. I don’t say that in a “hurr durr I’ve been talking about this for ten years and no one listened” way, I mean the writing was on the wall way back so the profession really shouldn’t be surprised that we ended up here.

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How Much Do Small Business Owners Make? The Answer May Surprise You

Patriot Software

Running a small business takes passion, gumption, and determination. But, becoming a small business owner isn’t a fast track to getting rich. So, how much do small business owners make? How much does a small business owner make a year? Incomes vary because of factors like industry, geographic location, and experience. Being a small business […] READ MORE.

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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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Dan Schindler Named MOCPA’s Outstanding Young Professional

Anders CPA

Anders tax partner Dan Schindler has been named the 2022 Outstanding Young Professional by the Missouri Society of Certified Public Accountants (MOCPA). The annual MOCPA Impact Award for Outstanding Young Professional honors one CPA under the age of 35 who is viewed as an emerging leader within the profession and is active in the community as well as professional organizations.

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Investing at Year-end – Is it Time for a Strategy Change?

Intuitive Accountant

As the end of the year draws near, it's not too soon to examine your portfolio, and discuss potential alternatives and strategies with your financial advisor or broker. Here are some things you might want to discuss.

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Where to start on your Xero education journey

Xero

We know it’s not enough to just create really #beautiful accounting software – we also need to teach you to use it. Spending time educating yourself on Xero can help you get time back once you’ve built up your confidence. . You probably know by now that when you have a question about Xero, Xero Central is your first stop. But did you know it’s also your home for proactively learning about Xero?

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What Is an Audit?

Patriot Software

Audit. Do you panic when you hear that five-letter word? You might think an audit is the last thing your business needs, but they aren’t always bad. Regular audits can be more like a routine maintenance check than an invitation for IRS penalties. Learn what an audit is, what types of audits there are, how […] READ MORE.

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Email Blunders for Accounting Teams to Avoid

Lockstep

We all know how frustrating email can be, especially for accounting teams. Sometimes it just doesn’t work as you want it to. Email often becomes a major source of frustration – especially when things go wrong. In Part I and II of this series, we took a look at some of the most common accounting email blunders that can cost time and money.

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Keeping Up with the Race for Technology

Intuitive Accountant

New report from LeaseQuery reveals accountant technology wishlists and implementation challenges at their firms.

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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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Global Summit Series: Doing Business in Canada

Withum

Kimberlee S. Phelan. Partner Princeton, NJ – Corporate Headquarters. Angela Pulaski, CPA. Tax Manager – Withum. Brett Starkman. Tax Partner – Schwartz Levitsky Feldman LLP. David Kerzner, Ph.D. Tax Lawyer – Kerzner Law. Food: Maple Syrup Lux & Bagel Sandwich Smoked Meats. Sightseeing: Niagara Falls CN Tower Banff National Park The Rocky Mountains.

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Did a PwC Partner Leak Client Financial Data? A Court Will Decide

Going Concern

We briefly mentioned the following case in an August 2020 link dump of several Big 4 lawsuits going on at the time, there is now a date set for court so we’re throwing out an update. The allegation is that former PwC north of England head Ian Green leaked sensitive information about his client, telling an outside M&A banker that the client was going to run out of cash, making the client ripe for a takeover.

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Which Bills to Pay First in Your Skagit County Business

SkagitCountyTaxServices

Holiday creep. It’s real. Here we are in early November, and it feels like Christmas decorations and other holiday chicanery have already been upon us. Skagit County retailers are buckling in for what looks to be a rough shopping season, given current economic factors… BUT per the U.S. Chamber of Commerce, over 30% of consumers got a head start on their holiday shopping in October.

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Newly-Minted CPA Outraged That Their State is Too Cheap to Send a Paper License Certificate

Going Concern

And you wonder why no one wants to be a CPA anymore. A PDF?? Really, Maryland? AND IT ISN’T EVEN AN 8×10! Larry Hogan will want to hear about this. The post Newly-Minted CPA Outraged That Their State is Too Cheap to Send a Paper License Certificate appeared first on Going Concern.

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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 to Make Your Small Business Dreams a Reality

MazumaBusinessAccounting

Starting a business is a dream that many people have. The idea of creating something that is your own, being your own boss, and being able to turn your passion into a full-time job is compelling. In order to be successful and make your small business idea come to life, you have to take time to figure out all aspects of your business to see if it has potential.

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R&D Tax Relief To See Considerable Changes

Menzies

Menzies LLP - A leading chartered accountancy firm. Research and Development (R&D) tax relief is intended to promote and reward scientific and technological innovation in the UK. To be eligible, a business must demonstrate that it has made an advancement in a scientific or technological field. Since its origin in 2000 limited changes have been made to the scheme, but now there are substantial reforms in the pipeline coming in April 2023.

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What Is a Fiduciary?

Patriot Software

When you own a small business, you make decisions to protect your company. Throughout the life of your business, you might need to seek advice or help from professionals. In some cases, you might entrust a fiduciary to manage assets or provide business advice. According to one poll, 27% of people don’t what a fiduciary […] READ MORE.

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Which Bills to Pay First in Your Skagit County Business

SkagitCountyTaxServices

Holiday creep. It’s real. Here we are in early November, and it feels like Christmas decorations and other holiday chicanery have already been upon us. Skagit County retailers are buckling in for what looks to be a rough shopping season, given current economic factors… BUT per the U.S. Chamber of Commerce, over 30% of consumers got a head start on their holiday shopping in October.

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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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What Is a SIC Code?

Patriot Software

When you create a simple chart of accounts, you might assign a group of numbers to each account category. Assets might use the 100s, liabilities might use the 200s, and so on. There are specific accounts within each category. You will assign each account a more specific number within its category. For example, cash is […] READ MORE.

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How To Start An E-Commerce Side Hustle

Snyder

Side hustles can be a fun and lucrative venture and, in some cases, can lead to a very fulfilling career. This is perhaps why the number of professionals running a side business has steadily risen over the last decade. However, the pandemic led to an influx of people starting their own side hustle, particularly those who were furloughed during this period.

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What Is a Business Tax Lien?

Patriot Software

Are you struggling to pay your business or employment tax liabilities? If you fail to pay, you might face a tax lien. For a small business owner, a tax lien can have devastating effects. That’s why you must understand tax liens to prevent them. Below you will learn: What a tax lien is How […] READ MORE.

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November 2022 Summit CPA Employee Spotlight: Alana Best

Summit CPA

As a distributed company , not only do we serve our clients remotely, but our team members work remotely as well. We understand the accounting, bookkeeping, cash flow management, and tax nuances of running a distributed company. We pride ourselves on our ability to provide the highest quality Virtual CFO services while working remotely with (and for) our customers, and we couldn't do any of it without our amazing team.

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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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What Is an Indirect Cost?

Patriot Software

To turn a profit in your business, you need to make sure your products or services bring in more money than what you put into them. But if your business expenses are greater than your revenues, you won’t stay afloat. Learn about indirect cost and how to calculate and reduce it. What is indirect cost? […] READ MORE.

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The accountant shortage threatens capitalism's future

Accounting Today

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Wrap up Your Accounting Period With Closing Entries

Patriot Software

When you manage your accounting books by hand, you are responsible for a lot of nitty-gritty details. One of your responsibilities is creating closing entries at the end of each accounting period. What are closing entries? Closing entries are entries used to shift balances from temporary to permanent accounts at the end of an accounting […] READ MORE.

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The Bonadio Group's Culture of Excellence

Intuitive Accountant

With 37% women principals and partners, the practice was named the best CPA firm for women and equity leadership by the Accounting MOVE Project.

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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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Learn How to Deduct Travel and Entertainment Expenses

Patriot Software

For some business owners, spending money on travel and entertainment is inevitable. You might need to take a business trip or decide to take a client out for lunch. Whatever your situation, you might be able to claim travel, meals, and entertainment tax deductions. Travel and entertainment You can deduct certain travel and entertainment expenses […] READ MORE.

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QBO Advanced, and other tech stories you may have missed

Accounting Today

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Your Go-to Guide to Understanding Tangible Assets

Patriot Software

Business assets are items of value that significantly contribute to your small business net worth. You need to properly calculate, take care of, and record your business’s tangible assets. Learn about tangible assets below. What are tangible assets? Tangible assets are physical items of value that you can see and feel. Tangible assets include land, […] READ MORE.

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MOVE Project names the best firms for women and equity leadership for 2022

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.