Wed.Dec 07, 2022

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How Customer Self Service Accelerates Payments

Lockstep

As an accounting professional, you know that getting paid is key to keeping your business running. If you’re like most finance professionals, you’re always looking for ways to speed up payments. One of the best tools for doing this is customer self service. With self service, customers can access financial documents, like invoices, without having to spend the time requesting them or waiting for someone to send them.

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Tax Preparation Checklist for Startups

BurklandAssociates

Use this tax preparation checklist for startups to collect the information and documents your tax professional will need to prepare your 2022 taxes. The post Tax Preparation Checklist for Startups appeared first on Burkland.

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Crypto 101 for Accountants and Bookkeepers

Intuitive Accountant

Acuity founder Matthew May and Crypto Practice Manager Anthony Zepeda offer everything today's accountants and bookkeepers need to know about cryptocurrency. Signup for the webinar here.

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Here’s What Happens When You Hire AI to Do Accounting

Going Concern

For a good decade we’ve heard about the robots that are going to render accountants obsolete, now we finally get a peek at the glorious technology that will transform the industry as we know it. You should prepare yourself, this advanced technology will have you on the University of Phoenix website ASAP to get a jump on the Master’s of Tik Tok degree you’ll need if you have any hope of being employed in the next five years.

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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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Hamish Cooke and Ben Richmond on Xero's Advisory Services Offerings

Intuitive Accountant

Check out another episode of Accounting Insiders, with Xero's Hamish Cooke and Ben Richmond providing a snapshot of what the online accounting software leader has coming down the pipeline.

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Theresa Stearns Honored as a CIO of the Year ORBIE Awards Finalist

Anders CPA

Anders Chief Information Officer Theresa Stearns has been recognized as a finalist of the CIO of the Year ORBIE Awards. Presented by the St. Louis CIO Leadership Association ( StLouisCIO ), the ORBIE Awards recognize leading technology executives from the region’s largest private and public companies and not-for-profit organizations to connect with and recognize CIOs to inspire them to achieve their leadership potential.

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What To Know About North Carolina Power Substations Taken Out by Gunfire

Withum

Withum Cyber Flash Report | US Critical Infrastructure. This past Saturday two electrical substations in Moore County, North Carolina were severely damaged by gunfire leaving residents without power. After the initial attack, it was estimated that around 45,000 people located within the county had lost power. Duke Energy has most recently released as of Monday that around 7,000 residents have had power returned to their homes still leaving around 38,000 without power in their homes.

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What’s Your Payroll Tax Deposit Schedule? If You’re Not Sure, Read This

Patriot Software

When you have employees, your responsibility isn’t just to pay them. You also need to pay the IRS their share, too. How often you pay the IRS depends on your payroll tax deposit schedule. But, not all employers follow the same schedule. Your schedule, and thus payroll tax deposit due dates, depends on the type […] READ MORE.

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How Intacct for Manufacturing Impacts the Production Industry

Withum

As a manufacturer , if you are not using an enterprise resource planning (ERP) or material resource planning (MRP) system to help maximize your business potential – you are falling behind your competitors who use them. Implementing those tools is a worthy long-term investment. Sage Intacct Manufacturing is a cloud-native ERP for small and medium-sized manufacturing businesses.

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Clarative Accounting is building for the future with construction clients

Xero

The events of 2020 and the years since have forced us all to change in some way or another. Many changed how we work, our long-term goals, and most importantly, how we prioritise what’s important to us. . This was certainly the case for Carly Shaw from Clarative Accounting. During the pandemic, Carly made the difficult decision to move away from her nearly-18 years as an employee in practice to set up her own firm.

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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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Larry Gagosian’s Succession Plan

Withum

Art gallery entrepreneur extraordinaire Larry Gagosian assembled a team of prominent advisors to help him chart a course for his future, according to a NY Times story last month. I think his planning is admirable and makes a lot of sense. People that are sole owners of a business have a lot of issues to be concerned with, and succession should be near the top.

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Shutting Down a Tech Company – Some Tax/Accounting Tips

Shay CPA

The time has come. You’re at the end of the road. Whether you’re dissolving your business or handing it over to another company that’s acquired it, you might be looking forward to the day when there’s a lot less on your plate. You’re not there yet, though. Before you shut down your tech company, you need to take some final tax steps. . If you don’t, you could be in trouble.

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Fiduciary tax 101

ThomsonReuters

Fiduciary tax comes with unique challenge s. For starters, wealth management requires extra care, trust investments are becoming more complex, and distribution rules are ever changing. As we know, governments collect taxes to fuel economic growth and fund investments in infrastructure, human capital, as well as the provision of services for individuals and businesses.

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Nonprofit Filing Requirements: What Executive Directors Should Know

GrowthForceBlog

5 min read. You can't get away scot-free from the IRS just because you're running a tax-exempt nonprofit organization.

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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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The basics of Foreign-Trade Zones (FTZs). What are they?

ThomsonReuters

In the ongoing race to reduce costs and optimize operational efficiency, more U.S. companies are taking advantage of a perk available to them courtesy of the Foreign Trade Zones Act of 1934. What is a Foreign-Trade Zone? Foreign-Trade Zones (FTZs) are specially designated sites near U.S. ports of entry that allow importers and exporters of all sizes to move goods in and out of the country paying reduced or no customs duties, taxes, or fees.

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How Does Crowdfunding Work: Tips For Beginners

Snyder

Crowdfunding has long historical roots but is relatively young and innovative in comparison with traditional business funding options. Not so long ago, when someone wanted to raise capital for a venture idea, they had quite a few methods with which to achieve this. But with the development of technology and the Internet, crowdfunding has connected millions of young entrepreneurs with financial sponsors worldwide and gained immense popularity due to its simplicity and accessibility.

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4 Requirements for Scalable Virtual CFO Services

Ryan Lazanis

A well-scaled business is one that can meet demand as it arises. I’ll discuss about four important requirements for a virtual CFO service to be able to scale. Listen Below. 0:34 – In today’s episode, I want to talk about the 4 requirements to offer scalable virtual CFO services. 1:04 – If you are having trouble scaling virtual CFO and advisory services, then skip back to episode 85. 1:51 – Let’s look at the four requirements to offer scalable virtual CFO services. 2:47 &#

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4 Signals Your Financial Close Needs Help

Basis 365

Companies close their books in 2022 to start the new year. However, not all closing periods go smoothly. Accounting professionals seldom look forward to completing the books, whether you're closing a quarter or a year. Financial teams are often required to reconcile transactions and finalize invoices. This task can often lead to late nights and long hours.

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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 benefits of integrating Foreign-Trade Zones (FTZs) into your supply chain

ThomsonReuters

Many large U.S. multinationals have been using Foreign-Trade Zones (FTZs) to reduce duties and optimize their supply chains for quite some time. But almost any company involved in international import/export activity can benefit from the strategic use of FTZs, and there are many reasons why it’s a move worth considering. What is an FTZ? FTZs are specially designated areas located near U.S. ports of entry that, for import/export purposes, are considered outside the U.S.

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The forex effect could bring benefits to sellers

Menzies

Menzies LLP - A leading chartered accountancy firm. In the UK, business owners that have been considering when to sell for a while now – some potentially since before the pandemic – may well see a benefit as exchange rates fall, as they tempt overseas buyers back to the UK. However, are they ready to take advantage of any opportunities that come their way?

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Important Tools for Understanding Cash Flow

Intuitive Accountant

The Bonadio Group's Jay Jerose explains how, among other things, cash flow models and projections can serve as a useful indicator of future business performance.

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Loan-based Crowdfunding: P2P agreements vs non-P2P agreements

Menzies

Menzies LLP - A leading chartered accountancy firm. This article is a brief explainer of Loan-based crowdfunding firms and when they are covered by CASS 7. Essentially, CASS 7.10.7A notes that Loan-based crowdfunding firms that operate an electronic system in relation to P2P agreements are required to apply CASS 7. P2P = Peer-to-Peer. Loan based crowdfunding.

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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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A call for delaying the new 1099-K threshold

Accounting Today

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What is a MiFID business?

Menzies

Menzies LLP - A leading chartered accountancy firm. In CASS 7 there are references to rules that apply to a MiFID business and those that carry out designated investment business which are not MiFID businesses. CASS 7.10.1 sets out that CASS 7 applies with regards to the following firms: MiFID business; and/or. designated investment business; and/or. stocks and shares ISA business; and/or. innovative finance ISA business; and/or. lifetime ISA business.

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Not Your Average Prep for Tax Season Tips

Intuitive Accountant

Wait, it's tax time again? Tax Practice News' Christine Gervais helps you prep for the next round of tax season. Sign up for the webinar here.

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LA approves tax increase on real estate deals over $5M

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.

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December 2022 Summit CPA Employee Spotlight: Ally Duras

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 abili ty 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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7 eye-opening ideas for digital CPAs

Accounting Today

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An Introduction to CASS 7.10 & 7.12

Menzies

Menzies LLP - A leading chartered accountancy firm. An Introduction to CASS 7. Broadly, CASS 7 is the part of the FCA Handbook that sets out the rules a firm must follow where they receive or hold money on behalf of a client in relation to Investments, see our brief explainer on Investment firms and MiFID. The rules are detailed, as they should be, their goal is to ensure that clients’ money is safe and that there continues to be confidence in the UK’s Financial Services sector.

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Companies prepare for increased ESG disclosure

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.