Fri.Nov 06, 2020

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What Tax Records Can You Throw Away?

RogerRossmeisl

October 15 was the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) Now that you’re finally done filing last year’s return, you might wonder: Which tax records can you toss once you’re done? Now is a good time to go through old tax records and see what you can discard.

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Vertical SaaS vs. Horizontal SaaS – A Look From Allied Advisers

BurklandAssociates

Vertical SaaS has been gaining traction across industries, with companies offering customized solutions built on in-depth sector expertise. Burkland recommends Flavors of SaaS at Allied Advisers for an in-depth look at Vertical Read More. The post Vertical SaaS vs. Horizontal SaaS – A Look From Allied Advisers appeared first on Burkland.

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ACI: Real-Time Payments And P2P Will Accelerate Payments Digitization

PYMNTS

COVID-19 has shifted consumers away from card-based payments experiences, while P2P has accelerated a change enabling merchants to own the payments experience itself, Debbie Guerra , executive vice president of merchant and payments intelligence solutions at ACI , told PYMNTS in a recent interview. Guerra said that’s because consumers increasingly value speed and simplicity when it comes to all aspects of life, including their interactions with businesses.

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KROST PPP Loan Forgiveness Application Service – Update and Price Increase

KROST

KROST has now assisted over 50 clients prepare and submit PPP loan forgiveness applications to their lenders and those submitted to the SBA had 100% forgiveness. Although there is no immediate rush to submit loan forgiveness, there are two main reasons companies are applying now rather than later. First, once forgiven, you can take the loan off your balance sheet.

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Planning Your Restaurant's 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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Getaround Car-Sharing Tech Disrupts Car Ownership

PYMNTS

In a world that’s home to one billion cars that sit unused the majority of the time, the concept of sharing a vehicle only when you need it – versus owning one 100 percent of the time – is catching on. As has been the case in many industries, sweeping lifestyle changes brought on by the pandemic and increased consumer embrace of technology are proving to be a catalyst for the mental mindset change required to disrupt the traditional car ownership regime.

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Multiple Company Discounts in QuickBooks Online

SchoolofBookkeeping

When it comes to QuickBooks Online, each company represents its own subscription which begins to become cost prohibitive when it comes to a client who has multiple entities, because one business is just not enough, right?!?! If they have unique. Read More. The post Multiple Company Discounts in QuickBooks Online appeared first on schoolofbookkeeping.com - Ignite Your Practice!

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This & That For Friday

RitaKeller

“All truly great thoughts are conceived while walking.” – Friedrich Nietzsche. For this Friday’s flashback post, read about having a commitment statement and how one can be designed to notify your clients of your commitments to them and informing them what commitments you expect from them. Samples are included. Don’t forget about the CPAFMA Virtual Accelerator Program coming up on Monday and Tuesday.

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Peloton, Connected Fitness Companies Chart New Course And Face New Problems

PYMNTS

It has been a good year for connected fitness company Peloton. For Q3 it saw sales grow by 232 percent to $757.9 million from $228 million a year ago. Analysts had been forecasting sales revenue of $748.1 million. That massive bump was driven by fitness-oriented consumers who have increasingly turned to connected bikes and treadmills to rebuild their exercise routines at home in a world where going to the gym feels a bit like a risk to one’s health.

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PPP News: SBA Approvals, Form 3509 Distribution and Disclosure Updates

Withum

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The Digital Real Estate Boom (And How Long It Might Last)

PYMNTS

The COVID-19 pandemic has been good for the real estate market. Consumers have become homebound over the past half-year or so, and perhaps unsurprisingly, many have a renewed focus on ensuring their home is right for them. Meanwhile, millennial consumers have drastically picked up the pace of their home buying. They’re aided by digital tools that make it easier to find a home, take a virtual tour, arrange financing, place an offer and close a deal – all from the comfort of their living rooms.

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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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Tesla Tequila Sells Out On First Day Of Launch

PYMNTS

What started as an April Fool’s joke in 2018 — "Teslaquila" — is now a hot seller, with bottles of Elon Musk’s Tesla Tequila, priced at $250, selling out within hours, according to a CNN report. Produced by the South California brand Nosotros Tequila, Tesla Tequila is sold in a lightning-shaped bottle resembling Tesla’s logo. Sales are limited to two bottles per person.

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Payroc Expands Processing Capabilities With RewardPay Choice

PYMNTS

Merchant acquirer Payroc announced that RewardPay , its signature payment processing product, is growing its processing features. RewardPay Choice comes with each of RewardPay’s benefits, along with the capacity to select the fee amount that clients will pay, according to the announcement. Payroc said that RewardPay is a “card brand-compliant” surcharging program that lets merchants have cardholders pay all or a portion of their credit card processing fees.

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Subscriptions Growing Despite Threat Of Downstream Churn

PYMNTS

Subscriptions of every description are set to the beachheads of commerce over the next year or so in a frenzy of monthly boxes, streaming entertainment services and educational media. Containing much expert insight on the topic, PYMNTS latest Subscription Commerce Tracker® , Digital Media And Publishing Subscription Trends Edition, done in collaboration with Recurly , examines the growth prospects for subscription services as the digital shift keeps on shifting.

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British Grocery Chain Sainsbury's Slashes 3K Jobs

PYMNTS

Supermarket group Sainsbury's is planning to slash 3,000 jobs, according to a Times report on Friday (Nov. 6). The group's Argos business will see the most layoffs. Sainsbury's is shuttering its meat counters, fresh fish departments and delis. Sainsbury's purchased Argos in 2016 for £1.4 billion. . “As we go into lockdown in England for the second time this year and restrictions are in place across the UK, we know our customers and colleagues are feeling anxious and we will do all we can to supp

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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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COVID-19 Means Pet Care Is Booming, But Not Every Company Gets A Treat

PYMNTS

Privately held Petco announced this week that after two months of mulling strategic options like a sale, the San Diego-based chain of 1,500 pet stores has filed preliminary paperwork for an initial public offering. Whether Petco actually goes the IPO route or ends up finding a buyer remains to be seen, but one thing is clear — consumer demand for pet supplies and services is hot right now.

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Trulioo Adds Leigh Ramsden As New Chief Financial Officer

PYMNTS

Global identification verification company Trulioo has enlisted former Absolute Software executive Leigh Ramsden as its new chief financial officer, according to a press release emailed to PYMNTS. Ramsden was previously Absolute Software's interim chief financial officer. He succeeds Anne Lawlor , who served as Trulioo's chief financial officer for eight years and is retiring.

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Blockchain Lending Firm Figure Seeks National Bank Charter

PYMNTS

Financial services firm Figure Technologies, Inc. has sought a national bank charter from the Office of the Controller of the Currency (OCC), which will let it meet “promises of efficiency, affordability and financial inclusion,” according to a Friday (Nov. 6) announcement. The charter would let the company gear its compliance activities toward the requirements of one regulator, provide a cohesive collection of offerings throughout the country, provide clients and business partners with the secu

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Whole Paycheck Tracker: Amazon, Walmart And Apple Scrap For Subscription Business

PYMNTS

The Amazon and Walmart claim on the shopping and entertainment subscription business is getting a bit looser. Their claim on this small section of the U.S. whole paycheck is important because it is a key to the loyalty play that defines the Amazon and Walmart business model. And this week, Apple is trying to get part of that business. Announced during WWDC in June, Apple One combines the company’s many subscription services such as Music, News and Apple TV into a $14.95 per month plan.

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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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Data Analytics Changes The Working Capital Management Paradigm

PYMNTS

Handling accounts payable (AP), accounts receivable (AR), cash flows and other capital management tasks is an inescapable reality for almost every business that deals with inventory and sales, but these commonplace processes are fraught with obstacles. Sixty-three percent of businesses in the United Kingdom have received duplicate invoices , for example — with 33 percent mistakenly paying them — 58 percent have had to pay suppliers’ late fees, and 90 percent have been pestered by suppliers deman

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With Argentina’s Economy Slumping, Walmart Sells Stores To Grupo de Narváez

PYMNTS

Walmart is leaving Argentina, announcing a deal to sell its stores there to a regional grocery chain amid an economic crisis that is gripping the South American country. Walmart, the world’s largest brick-and-mortar retailer, announced Friday (Nov. 6) it would sell its retail operations in Argentina to Grupo de Narváez, a top South American supermarket chain.

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Commercial Landlords Pinched As Retailers, Theaters, Gyms Skip Rent Payments

PYMNTS

As property executives report their quarterly earnings, some landlords are starting to put the squeeze on retailers that have skipped rent payments as a means to survive pandemic-triggered lockdowns. Although most landlords claim to have worked with tenants amid COVID-19 lockdowns, they are starting to turn up the pressure on businesses that they believe are able to pay.

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Digital Payments, Online Ordering And Memberships Top This Week’s News

PYMNTS

The PYMNTS Weekender is here to catch you up on the latest news at the end of another busy work week. We have deep dives on digital payments, online ordering and memberships. News. Walmart+, Amazon Prime Face off as Consumers Decide Who Gets Their Business. “ Membership has its privileges ” was the nine-year marketing campaign rolled out by American Express in 1987 to convince consumers that it was worth paying a yearly fee for one of its charge card offerings.

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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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Unemployment Drops To 6.9 Pct As Economy Adds 638K Jobs

PYMNTS

The nation’s unemployment rate continued to drop in October, falling to 6.9 percent as employment rose by 638,000. In September, the unemployment rate was 7.9 percent, a full percentage point higher. “These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it,” the U.S.

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CEO David Shim Resigns From Foursquare As Of Jan 1 In Wake Of Factual Merger

PYMNTS

Foursquare CEO David Shim is reportedly stepping down Jan. 1. He will be succeeded by Gary Little , a member of the company’s board and managing director of the Raine Group. Shim told The Wall Street Journal that he is leaving to pursue new opportunities. He has been managing location-based data businesses for a decade, Shim added. Last spring , the New York-based location intelligence company merged with data-location provider Factual.

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Travel Restrictions Or Not, $100K+ Can Still Buy The Trip Of A Lifetime

PYMNTS

At a time when the coronavirus has hit the travel industry with a 70 percent drop in bookings and what could be several years of pain ahead until things normalize, you’d think vacation deals would be easy to come by. For more run-of-the-mill type trips, that might be the case, as airlines offer promos like buy-one-get-one to help fill empty seats. But for those high-end travelers looking for that once-in-a-lifetime, cost-is-no-object adventure, discounts are nowhere to be found.

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Supermarkets Place Limits On Paper Products Amid Rising Coronavirus Cases

PYMNTS

As coronavirus cases surge in the United States, some supermarket retailers are re-instituting buying restrictions on specific products such as toilet paper, USA Today reported. Kroger , which runs different brands in 35 states and the District of Columbia, told USA Today in a statement that it has "proactively and temporarily set purchase limits to two per customer" on merchandise such as paper towels, toilet paper, hand soap and sanitizing wipes.

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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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Legos Still Rank But Most Kids Clamor For Digital Holiday Gifts

PYMNTS

Legos still rule holiday wish lists but digital items are the most sought-after gifts among children ages 4 to 14, according to a Financial Times report on Friday (Nov. 6). Aside from Legos, dolls and bicycles were the only non-digital gifts on the overall top-10 holiday wish list for both genders compiled by RoosterMoney , a pocket money app for children.

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Marriott’s Revenue Per Available Room Drops 65.9 Pct In Q3

PYMNTS

Marriott International, Inc. reported on Friday (Nov. 6) as part of its Q3 earnings that revenue per available room (RevPAR) fell 65.9 percent globally, 65.4 percent in North America and 67.4 percent beyond North America, in contrast to Q3 2019. President and CEO Arne M. Sorenson said in a call with analysts that the hotel chain’s global occupancy reached a bit over 37 percent, marking an improvement of 25 percentage points from April’s 12 percent.

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Preorders Now Open For New Apple iPhones Mini, Max, HomePods

PYMNTS

Apple has started taking preorders for a new line of iPhones and HomePod speakers, the company said in a Friday (Nov. 6) press release. The final two iPhone 12 models — the iPhone 12 Pro Max and the iPhone 12 Mini — were to have launched in September but COVID-related production delays postponed them. This is the first time Apple has simultaneously launched four different iPhone models.

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Foursquare Completes Business Model Pivot; CEO Resigns

PYMNTS

For Foursquare , it has been quite a journey from its launch in 2009 to 2020. On Friday (Nov. 6), CEO David Shim announced his intention to step down as head of the company by Jan. 1, 2021. He will be succeeded by Gary Little , a member of the company’s board and managing director of the Raine Group. Shim, speaking to The Wall Street Journal , noted that he is leaving the company after a decade in the job to pursue new opportunities.

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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.