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.

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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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5 Steps to Shield Your Business: The Ultimate Guide to Avoiding Payment Fraud

As scams grow more sophisticated, it's crucial to stay proactive in defending against these threats. This guide equips CFOs, accountants, and business leaders with five essential steps—from fundamental safeguards to advanced security measures to strengthen your financial defenses. From enhancing data security to implementing fraud detection tools and safeguarding financial transactions, this guide provides expert advice that could save your company millions.

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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.

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5 Ways to Gift Yourself Tax Savings This Holiday Season

CPA Practice

The hustle and bustle of the holiday season is upon us, and while you’re likely busy hunting for the perfect gifts for your loved ones, don’t forget that you can gift yourself something too—a tax break. With the end of the year quickly approaching, now’s the time to make important year-end money moves that could gift you a smaller tax bill, bigger tax refund, or a better overall financial position in the year ahead.

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More Trending

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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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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.

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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

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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

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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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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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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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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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3 Must-Have Reports to Help Financial and Accounting Firms Become More Profitable

Bizinta highlights three crucial reports for financial and accounting consultancies to enhance profitability: Utilization Reporting maximizes billable hours Profitability by Consultant identifies top performers Contribution by Client prioritizes high-value clients These reports provide accurate insights, replacing guesswork with data-driven decisions.

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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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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.

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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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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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How To Streamline Finance Operations Through Automation

Speaker: Claire Grosjean

In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.

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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.

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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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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.

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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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How to Elevate Your CPA Services and Grow Your Business

As a CPA, your expertise is invaluable to your clients. By partnering with Fincent, you can enhance your service offerings and streamline financial management for your clients. Our platform provides real-time financial reports, cash flow tracking, automated posting of banking transactions to reduce errors, and powerful search capabilities. With Fincent, you can focus on high-value services while we handle the day-to-day bookkeeping tasks.

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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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Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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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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Simplify Your Business Finances with Dedicated Bookkeeping Services

Managing bookkeeping and tax can be challenging for businesses of all sizes. Fincent’s services offer a comprehensive solution to streamline your financial operations. With personalized, dedicated bookkeepers and controllers, our platform ensures accurate monthly books and financial statements delivered by the 10th business day of each month. Open monthly communication and an easy-to-use online chat with your bookkeeper provide consistent support and seamless management.