Fri.Jan 13, 2023

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Invoice Automation: What you need to know.

Airbase

Invoice automation is the process of automating the creation, management, and processing of invoices. The goal of invoice automation is to streamline and automate the invoice process, reducing the time and resources required to manage invoices manually. Benefits of invoice automation. There are several benefits to using invoice automation software, including: Increased efficiency.

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Remote Accountant Who Billed Too Many Hours Owes Her Former Firm $2700 For ‘Time Theft’

Going Concern

NPR has a strange story of a Canadian accountant and a firm with time tracking software installed on work laptops that should give remote workers pause before submitting their next time sheet. NPR: When Canadian accountant Karlee Besse was fired for being unproductive at her job, she found herself up against not only her former employer, but its time-tracking software, too.

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Premier Sports Network Adds Withum as Player Care Partner for Accounting Services

Withum

Premier Sports Network is proud to announce its new agreement with Withum, a Top 25 national accounting firm with expertise in professional athlete accounts. Withum is a forward-thinking, technology-driven advisory and accounting firm committed to helping clients be more profitable, efficient and productive in the modern business environment. Based in the United States and an independent member of HLB International, the global advisory and accounting network, Withum serves businesses and individ

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Grant Thornton’s 2021 PCAOB Inspection Report Wasn’t Too Bad

Going Concern

Of the six 2021 PCAOB inspection reports released before the holidays, we ’ve so far taken a look at five: PwC , Deloitte , EY, KPMG , and BDO USA. The last of the bunch belongs to Grant Thornton. We didn’t save the best for last, but it’s not that bad either. From 2016 until its 2020 inspection report, Grant Thornton had an average audit failure rate of about 21%.

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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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Why A Business Should Outsource its Bookkeeping

Basis 365

Owners and employees spend a lot of time running a small business. While dealing with vendors and customers daily, you must also adhere to the company's goals. Whether you offer products or services, administrative and accounting tasks can be tedious and time-consuming. Small businesses can outsource bookkeeping services if they need help managing their finances.

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10 Best Practices for Changing Your Company's Business Model

GrowthForceBlog

7 min read. Technology, consumer desires and needs, and the market are constantly in flux. Key Takeaways. Set Goals and Recognize When Change Is Necessary: Part of your company's monthly, quarterly, annual, and long-term strategy should include a regular practice of goal-setting, benchmark mapping, and…. Changes Should Be People-Focused: Pivots that you make in your business model should be centered around people – the people in your business and your customers.

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The Advantages of Paperless Payroll In Your Construction Company

Randal DeHart

When you think of payroll, you might still envision paperwork and envelopes given to employees by hand. Even with direct deposit being the norm for years, there is still a significant paper component to manage. You won't find a contractor using inefficient tools on the job site these days. The hammer or the nail gun? No question. While every contractor recognizes the flaws of using ineffective tools, they may still be losing money due to inefficient payroll tools and processes.

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IRS Extends Filing Deadline for California Storm Victims: Tax Relief Available

KROST

On January 10, the Internal Revenue Service (IRS) announced tax relief for California storm victims in most counties (see list of counties below). This tax relief applies to individuals and businesses located in disaster areas. The announcement postpones tax filings and payment deadlines that are due from January 8, 2023, through April 30, 2023, including Read the full article.

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The Technology Lab Podcast – Review of Bill – Jan. 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA review Bill , a cloud-based, automated bill management and payment system for firms and businesses. Click here to visit the podcast page.

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Deloitte US Picked a New CEO and Chair, Sent Out an Email

Going Concern

How many times can we reuse this stupid Deloitte billboard picture? Deloitte US announced this morning that Jason Girzadas has been selected as chief executive officer and Lara Abrash has been selected as the chair of the board, beginning June 4, 2023, subject to a partner ratification vote. Jason succeeds outgoing CEO Joe Ucuzoglu who was chosen as Deloitte Global CEO last year, Lara will be replacing Chair Janey Foutty.

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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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Texas Tax Preparer Guilty of PPP Fraud and Tax Conspiracy

CPA Practice

A professional tax return preparer in Texas recently pleaded guilty to “engaging in a multi-year conspiracy to prepare and file false tax returns on behalf of clients and obtaining a fraudulent loan under the Paycheck Protection Program” (“PPP”). The proceeding was held before U.S. Magistrate Judge Jeffrey C. Manske. According to court documents and statements made in court, between 2012 and 2017 Labanda Loyd, of Waco, managed two tax return preparation businesses and also worked as a return pre

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Frequently Asked Questions About GST/HST By Business Owners

Ronika Khanna CPA,CA

For those of you who are starting a new business, it is essential to know your tax obligations. Every business owner must report their net profits on a either their personal tax return if they are unincorporated or a corporation tax return if they are incorporated. In addition to income tax, it is essential to consider whether or not you should register and collect GST/HST and provincial sales taxes.

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Tax season begins Jan. 23 with the IRS promising improvements

Accounting Today

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Michigan Expects $9B Budget Surplus, May Cut Income Taxes

CPA Practice

By Alyssa Burr, mlive.com (via TNS). State treasury officials estimate Michigan government will see a $9.2 billion surplus at the end of this fiscal year, increasing the likelihood that all that cash could trigger a permanent cut in the state income tax. The announcement came after the Consensus Revenue Estimating conference Friday in Lansing. The projections, which include forecasting from the Senate and House fiscal agencies and Department of Treasury, estimate Michigan will bring in $32.4 bil

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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 changing role — and skill set — of the CFO

Accounting Today

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Trump Companies Fined $1.6 Million for Tax Fraud Conviction

CPA Practice

By Molly Crane-Newman, New York Daily News (TNS). Two Trump Organization entities were slapped with $1.6 million in fines Friday—the price of committing years of tax fraud. The Trump Corporation and Trump Payroll Corporation were sentenced to pay the hefty sum in Manhattan Supreme Court. The companies were found guilty of tax fraud , scheming to defraud, and other related charges on Dec. 6.

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Effective tax rate for big corporations fell to 9% after TCJA

Accounting Today

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The IRS Needs Billions to Make Trillions

CPA Practice

By Alexis Leondis, Bloomberg Opinion (TNS). Regardless of how you feel about the IRS—it’s dysfunctional, it’s underfunded, or both—there’s a basic point that’s hard to refute: The current system to ferret out wrongdoers is terrible. And in a move that will only make it worse, House Republicans voted Monday to block new funding allocated for the agency by the last Congress.

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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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Tesla slashes prices up to 20% to qualify for tax credit

Accounting Today

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Friday Footnotes: PwC in Trouble?; A Backwards Accountant; Audit Committee Musical Chairs | 1.13.23

Going Concern

Big 4. Isio Group inks deal to acquire Deloitte’s U.K. retirement advisory business [ Pensions & Investments ]. Consultant Isio Group agreed to acquire Deloitte Total Reward and Benefits, the U.K. pensions advisory business of Deloitte, a spokesman confirmed Wednesday. Terms of the deal were not disclosed. The transaction, which is subject to regulatory approvals from the Financial Conduct Authority, will complete in the spring.

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On the move: EY appoints global CFO

Accounting Today

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New Jersey Governor Says Tax Cuts are Coming This Year

CPA Practice

By Brent Johnson, nj.com (via TNS). As he prepares to unveil his new state budget proposal next month, Gov. Phil Murphy is promising New Jerseyans will see “absolutely no new taxes” as well as “significant tax cuts.”. The Democratic governor also says he wants to renew a property tax relief program installed last year and will let a surcharge on the state’s corporate business tax expire.

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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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ETS adds two boutique advisory firms

Accounting Today

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'Taxachusetts' revived in New England after millionaire surtax

Accounting Today

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N.J. residents to get 'significant' new tax cuts, Murphy says

Accounting Today

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SAP and Amazon Web Services to deepen partnership

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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Tech News: Forvis releases climate risk dashboard

Accounting Today

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Trump companies are ordered to pay $1.6M for tax fraud

Accounting Today

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