Tue.Nov 29, 2022

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Accounts payable automation: the ultimate game changer for accounting firms

Accounting Insight

Accounts payable automation, also known as AP automation or invoicing automation, is the process of automating accounts payable processes and activities while collecting the critical data required to make smart decisions, improve efficiency, and grow your business. How can AP automation streamline your accounting firm’s processes? 1. IMPROVING AP EFFICIENCY BY ELIMINATING BOTTLENECKS IN THE AP PROCESS.

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Carillion Liquidators Roast KPMG: “A Competent Auditor Would Have Detected the Misstatements”

Going Concern

The Carillion failure is still working its way through the courts and now KPMG is accused by Carillion’s liquidators of missing multiple red flags, the likes of which should not have been missed had KPMG had any clue what it is doing. So say the liquidators. WSJ : KPMG received £29 million from Carillion without qualifying its audit opinions over the course of 19 years, according to the liquidators.

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The Future of Early Childhood Education With Strong Starts for Success

Withum

Explore Other Episodes. #CivicWarriors #WithumImpact. The post The Future of Early Childhood Education With Strong Starts for Success appeared first on Withum.

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The MacGyver-esque Way for Transactions to Appear on a Customer’s Transaction List

Intuitive Accountant

Internationally renowned ProAdvisor Esther Friedberg Karp shares some insights on how she helped a client take care of a transaction issue in QuickBooks Online.

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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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App partner of the month: Datamolino

Xero

Xero has more than 1000 connected apps in its ecosystem, all working to help small businesses and their advisors succeed. Each month we celebrate an app partner who stands out from the pack. Find out more about becoming a Xero app partner here , and you can browse the Xero App Store here. We’re excited to announce November’s app partner of the month is Datamolino – an automated data-capture and invoice coding solution that saves small and medium-sized businesses time by reducing manual dat

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Year-End Tax Planning Considerations for Property Owners in Light of Bonus Depreciation Phase Out

Withum

The real estate industry has gotten very comfortable with the luxury of having 100 percent bonus depreciation on certain asset classes since it was re-enacted by the Tax Cuts and Jobs Act on September 27, 2017. This luxury is set to phase out starting January 1, 2023, until it is fully eliminated in 2027 as follows: Period Bonus Depreciation Percentage 9/27/2017 – 12/31/2022 100% 2023 80% 2024 60% 2025 40% 2026 20% 2027 0%.

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CBIC can’t modify scope of Exemption Notification

VJM Global

Held by Hon’ble CESTAT. in the matter of M/s Lakshya Education Solutions Pvt. Ltd. Vs The Commissioner ( Appeals ), Customs, Central Excise & Service Tax, The Appellant is running a commercial training and coaching institute wherein study material is provided to the students in loose form binded through spiral binding. The Appellant discharged his service tax liability on coaching components.

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6 Things to Add to Your Small Business Year-End Checklist

Basis 365

Tax season is something only some people look forward to. However, it does not have to be something they dread. You will be fine if you know what you're doing and how to prepare. It's never a better time than now to plan, especially when we get closer to the end of the year. You will find it more challenging to collect your tax records if you wait until next year.

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How to get your business ready for a busy Christmas season

Reckon

It’s here! The holiday season is breathing its merry breath down our necks and every business owner should be prepping now, before its too late. Some businesses may be in shutdown mode over the holidays, and many more will be in a peak sales period. But it doesn’t matter what kind of business you have, there’s a few things you’ll need to get done in the next few weeks. 1) Let your customers know when you’re open.

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How Colorado’s 2022 Retail Delivery Fee Will Impact Out-of-State Retailers

Anders CPA

Who will be most impacted by the new retail delivery fee Colorado has begun collecting, and how can businesses adjust? Although the retail delivery fee is based in Colorado, businesses in other states that sell taxable goods to Colorado customers will also feel the effects. Key Takeaways: The retail delivery fee amounts to $0.27 per sale, which will be paid by the customer While the fee directly impacts customers, retailers are responsible for collecting and remitting the fee Affected businesses

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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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Software Advice’s FrontRunners Report 2022: Synder as a Top-Rated Product

Snyder

The holiday season has begun and look who’s already brought a present! Synder has been featured as a top-rated product in the FrontRunners report on Software Advice. With the overall rating of 4.81 out of 5 , the software has been approved as one of the best Small Business Accounting Software in 2022. . We’re honored to be mentioned among other amazing software solutions and want to express our gratitude to all the users for their support.

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Accounting 101: Parts of an Income Statement

FraudFiles

A few of the videos I will post here are what I like to call “Accounting 101.” They have some basic accounting information for those who need a bit of a primer on how the accounting process works. This video focuses on the parts of an income statement.

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Is the JULIE™ Role Right for Your Firm?

Intuitive Accountant

Harper & Company’s Julie Smith on why you need more than a director of operations in your CPA firm.

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The top people in public accounting — 2022

Accounting Today

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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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Corvee to Sponsor and Attend Digital CPA 2022

Intuitive Accountant

Company executives on-site will showcase Corvee’s platform for tax planning. Sign up for the Dec. 4-7 event here.

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Financial plans: Review, revise, repeat

Accounting Today

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10 practical tips to avoid professional negligence claims

Mark Lee

This blog post is drawn from my presentations during a virtual conference for CIOT – to help raise funds for two worthy tax charities, TaxAid and Tax help for older people. Having agreed to speak on the subject I drew on material I had used in the past and updated my slides where appropriate. My fellow speakers who deal with this sort of thing all the time confirmed that my advice was timeless.

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IRS raises interest rates for Q1 2023

Accounting Today

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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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Top Tips to Prepare for an eCommerce Audit

TaxConnex

*as previously posted on the Retailist – check out the article there - [link]. Data shows?that the likelihood of your business being audited is low, but that likelihood has been increasing in recent years. If you sell online across multiple states and have met economic thresholds or have a physical presence, you definitely don’t want to take that chance.

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A powerful new tool transforms how billionaires give fortunes away

Accounting Today

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Storage and Fulfillment Fees in Detail: How Much Do Amazon FBA Fees Cost?

Snyder

Selling products on Amazon FBA provides merchants with plenty of opportunities to streamline the way they do business by having Amazon handle storage and order fulfillment. However, these benefits come with a cost in the form of Amazon FBA fees. There are many types of fees that FBA sellers will incur. Knowing what to expect helps you plan future expenses while understanding how those fees are calculated can help you stay clear of additional fees or unplanned charges.

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IRS sees success in preventing ransomware attacks

Accounting Today

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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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How easy is it to start a small business in Australia?

Reckon

Are you considering throwing in your day job to start your own business? Got a great idea to supplement your regular income and fuel your passions? Whether you’re going all in or thinking about a side hustle, if you’re toying with the idea of small business ownership, let’s talk basics: starting out is not as daunting as you think—especially if you’re aware of the steps to follow once you’ve resolved to do it.

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Iconix founder Neil Cole convicted in accounting-fraud retrial

Accounting Today

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George Lois 1931 to 2022

Withum

George Lois passed away earlier this month. He was a legendary ad man, art director and idea person. I never met him but knew about him before he took his ad agency public in 1962. I also posted a blog about him on August 1, 2013, and want to discuss this further. Business has always been competitive. Today it seems it is more competitive than it has ever been, but likely it is no more competitive than in earlier times, just that the scale and speed of transactions are much greater and quicker.

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Lawyer charged in billionaire's tax case dies on eve of trial

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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Wage and hiring growth slowed at small businesses in November

Accounting Today

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5 reasons you should be doing more to leverage tech to win the talent wars

Accounting Today

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In the blogs: We have questions

Accounting Today