Wed.Nov 29, 2023

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The Importance of Risk Management in SMB Spending

AccountingDepartment

As a business owner or CEO, spending money is part and parcel of running a successful enterprise. As you grow your business, you will find yourself spending more and more money on various expenditures.

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AP automation best practices for 2024 and beyond.

Airbase

Implementing accounts payable best practices can help your organization reduce risk, save time and money, foster strong vendor relationships, and create a better spend culture. You can better identify the best AP automation solution for your organization by following accounts payable best practices. Table of Contents FirstHeading Finding a system to support accounts payable.

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PwC Canada’s Sneaky Layoffs: ‘Leadership Lacks Empathy and Transparency’

Going Concern

Earlier this month a tipster pointed us to this November 8 article by Samfiru Tumarkin LLP, a Canadian law firm specializing in employment, labor, and disability law: PwC laying off hundreds of workers, Canadians affected. The article referenced layoffs at both the King’s and down under PwC (UK and Australia), both of which had been mentioned all over the media including here.

Legal 119
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The Essentials of Beneficial Ownership Reporting

Withum

Beginning January 1, 2024, the Corporate Transparency Act requires certain businesses to submit an online report to the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. Treasury Department. The report will require affected businesses to provide personal information about their legal entities, beneficial owners, and company applicants.

Legal 115
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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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FinCEN extends deadline for new companies to file beneficial ownership reports

Accounting Today

The Treasury Department's Financial Crimes Enforcement Network is pushing back the deadline for new companies, but not old ones.

Account 131
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Scott Scarano talks AI and Creativity in the Accounting Industry

Canopy Accounting

In this episode, Scott Scarano talks of his career journey, which involves a blend of accounting and entrepreneurship. Scott comes from a family with a background in accounting, which influenced his early aspirations. He owns a successful accounting firm that he has managed to operate almost autonomously.

Account 105

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2023 Year-End Tax Planning Checklist for Individuals

Cherry Bekaert

Prepare for the 2023 tax season with our comprehensive tax planning checklist for individuals. Expert advice on life changes, investments, IRAs, and estate planning. Questions to Begin 2023 Planning Have you experienced: Significant life changes during this year: married, divorced, retired, moved, changed job, new babies or kids graduated from college?

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Appletree Business Services Awarded 2023 Clutch Global and Clutch Champion Awards

Steve Feinberg

At Appletree Business Services, everything we do is for our clients—from bookkeeping to payroll and more. And while hearing their feedback is more than enough for us, it’s always nice when our services are recognized by the wider industry. That’s why we’re proud to announce that Appletree is the recipient of the Clutch Global and Clutch Champion awards for 2023 in recognition of our commitment to excellence in the small business accounting services field.

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Is your tax department spending more time and money because of audits?

ThomsonReuters

Most tax professionals know that dealing with forces beyond their control—and the costly disruptions they cause—is a way of life. Unfortunately, many tax departments are feeling a strain on their resources as a result of these events. This, in turn, puts tax departments at greater risk for even more audits and stiffer penalties. This trend has been especially true during the past five years, and is sure to continue in the years ahead. “We are living in the environment where every day we ar

audit 98
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Exploring the Synergy of Trade Gecko's Dynamic Features with QuickBooks Online and QuickBooks Online Advanced

Insightful Accountant

Discover the latest advancements in QuickBooks Online and QuickBooks Online Advanced as we delve into the integration of Trade Gecko's powerful features!

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Travel and Expense Policy Success: Your Essential Checklist

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

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Managing Personal Finances for Adult Children with Disabilities

CPA Practice

By Mary Anne Ehlert, CFP. Improved medical care, educational interventions and community services have given individuals with disabilities a better quality of life and longer lifespans. It’s not unusual for people with Down syndrome to live into their 60s and those with cerebral palsy to reach 50 years in age. The situation is complicated by refinements in diagnoses of developmental disabilities such as autism.

Finance 98
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Ascend adds Wilson Lewis in Atlanta

Accounting Today

The acquisition of Wilson Lewis takes private-equity-backed platform Ascend over $100 million in revenue.

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No Matter the Business, Certain Principles Apply

CPA Practice

By Izzy Kharasch. Since starting my consulting business, Hospitality Works, in 1987, I’ve helped turn fortunes around for many restaurants all across the nation. And I have come to realize something: Most of what I’ve learned about the restaurant business can be applied to almost any business in almost any industry. As a financial professional, you probably have among your clients business owners, would-be business owners and investors in various enterprises (even including restaurants).

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Everything You Need to Know About Beneficial Ownership Reporting

Withum

Beginning January 1, 2024, the Corporate Transparency Act requires certain businesses to submit an online report to the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. Treasury Department. The report will require affected businesses to provide personal information about their legal entities, beneficial owners, and company applicants.

Legal 91
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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Xero Introduces New Automated Sales Tax

Insightful Accountant

Xero has teamed up with Avalara to offer a new automated sales tax functionality when Xero users make us of the new Xero Invoice feature.

Sales 104
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This year in Vendor Spotlights: Cloud, automation, AI and more

Accounting Today

Over the course of 34 Vendor Spotlights in 2023, we have seen many companies promote their capacities in cloud computing, automation and artificial intelligence.

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How Skagit County Businesses Can Navigate Mistaken ERC Claims

SkagitCountyTaxServices

Anyone else jump on all those great online Black Friday deals this year? There were a bunch. But, if you chose an online purchase because of the ease of returning said item, you might want to check the return policy. Looks like quite a few retailers are charging for online returns now. Puts a bit of a damper on the gift-giving, especially if the recipient is difficult to please.

payroll 71
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AuditClub rebrands as CPAClub

Accounting Today

The company has added outsourced tax and advisory services for CPA firms as part of the renaming.

cpa firm 111
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Navigating Corporate Travel Changes Post-Pandemic

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Government Shutdown Would Mean ‘Dire Consequences’ to Taxpayers and Practitioners, Says AICPA to Treasury Threateningly

Going Concern

While some may think the AICPA’s only purpose is blocking attempts to change CPA licensure rules for the better and distributing discount insurance offers to its members, there’s another important side to their work: advocacy. This often comes in the form of memos, interviews, or strongly worded letters addressed to whomever is in need of a little slapping around.

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Without accountability, DEI initiatives will fail

Accounting Today

Plante Moran separated its culture and DEI metrics to more accurately measure the firm's diversity journey.

Account 91
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State CPA Societies in Action: Pennsylvania Institute of CPAs

CPA Practice

Founded in 1897, the Pennsylvania Institute of Certified Public Accountants (PICPA) is the second-oldest CPA organization in the U.S. PICPA actively supports both current and future CPAs, providing educational opportunities, networking, and volunteer opportunities. PICPA also serves as the voice of the CPA profession through advocacy efforts in the state legislature. [ State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional

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The Importance of Monitoring Job Costs for Service-based Businesses

Insightful Accountant

The practice of job costing allows businesses to track and manage their expenses on a project-by-project basis, ensuring profitability and facilitating strategic decision making.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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Professionals on the Move – Nov. 2023

CPA Practice

Professionals on the Move is a round-up of recent hiring and promotion announcements from around the profession. Bookkeep Names Accounting Veteran Alison Ball as Vice President of Marketing and Communications Bookkeep, the leading accounting automation platform for ecommerce and retail, today announced the hiring of Alison Ball as Vice President of Marketing and Communications.

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The Importance of Monitoring Job Costs for Service-based Businesses

Insightful Accountant

The practice of job costing allows businesses to track and manage their expenses on a project-by-project basis, ensuring profitability and facilitating strategic decision making.

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NDH Advisors Acquires Kansas CPA Firm Stratus Group

CPA Practice

Chicago-based accounting firm NDH Advisors has acquired Leawood, KS-based tax and accounting firm Stratus Group. Terms of the deal were not disclosed. Dallas private-equity firm Unity Partners acquired NDH last May , providing the accounting firm with capital, strategic, and operational support as NDH looks to expand through organic growth and strategic acquisitions.

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Don't Miss Murph and Liz Together Again for Our Next QB Talks

Insightful Accountant

Murph will host Liz Scott for December's QB Talks focusing on QuickBooks Online at Year-end. This informational hour will be Wednesday December 13, 2023 at 2:00 PM Eastern time.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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AuditClub Rebrands as CPAClub and Adds New Tax and Advisory Solutions

CPA Practice

As a lead-up to the upcoming 2024 tax season, AuditClub said on Wednesday it has added tax and advisory solutions—and has rebranded to CPAClub. Founded last year and led by former audit partners with Big Four, regional, and local firm experience, the Irvine, CA-based company launched an auditors-as-a-service model to provide outsourced audit and assurance services for CPA firms that may not have the in-house talent or expertise to deliver these services efficiently and effectively.

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Study shows Automation Putting Accounting on the Right Path

Insightful Accountant

A study undertaken by ShareFile is challenging assumptions made about the industry. Notably 96% of accountants view automation in accounting as important, and 51% consider it very important.

Account 52
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NYU School of Professional Studies Presents 42nd Annual Institute on State and Local Taxation on December 11-12 in NYC

CPA Practice

On December 11-12, the NYU 42 nd Annual Institute on State and Local Taxation, hosted by the NYU School of Professional Studies Division of Programs in Business , will take place at the Westin New York at Times Square. The event is designed to deliver high-level updates, practical advice, and in-depth analysis of the latest developments and current issues in all areas of state and local taxation, including: State and local taxation from a national perspective Professional challenges and ethical

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6 Year-End Tax Planning Tips for 2023

Shay CPA

As the year wraps up, it’s time to start making that list and checking it twice. No, it’s not your holiday gift list. It’s your year-end tax planning to-dos. Taking some time to get yourself sorted could mean thousands of dollars of savings between your startup’s income, payroll, sales, and foreign taxes.

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Best Practices to Streamline Compensation Management: A Foundation for Growth

Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.