Wed.Aug 31, 2022

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Liability risks grow as pandemic fades

Accounting Today

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How to Gross up Payroll

Patriot Software

If you want to pay an employee supplemental compensation, such as a bonus or a relocation payment, you must withhold payroll taxes just like with regular wages. But, what if you want an employee to receive a specific amount after taxes? That is when you gross-up payroll figures. And to do that, you need to […] READ MORE.

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Gusto Payroll & HR Platform – A Payroll & Benefits Synopsis

Intuitive Accountant

Gusto is empowering SMBs to put its people first with modern payroll, benefits, and more. Most Gusto customers say it's easier and less time-consuming than other payroll solutions. It also works with QuickBooks.

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Patriot Tops the List for Business Value, Support, & More in SoftwareReviews’ 2022 Report

Patriot Software

Canton, OH Patriot Software, an accounting and payroll software provider for American businesses and accountants, stands out in SoftwareReviews’ 2022 Emotional FootPrint awards after ranking first in key categories like “Business Value Created,” “Vendor Support,” and more. SoftwareReviews, an in-depth source of buyer data and insights for the enterprise software market, selects its annual award […] READ MORE.

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Planning Your Restaurants 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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How Recognition and Rewards Impact Employee Engagement and Performance

GrowthForceBlog

5 min read. 41% of companies that use peer-to-peer recognition have seen positive increases in customer satisfaction [1]. Companies with recognition programs that are highly effective at improving employee engagement have 31% lower voluntary turnover [2]. Key Takeaways. Provides You With a Dedicated Team : Our outsourced bookkeeping services provides you with a U.S.

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What Are Payroll Deductions?

Patriot Software

You know there are deductions to take out of your employees’ paychecks. But, are they pre-tax vs. post-tax deductions? What do you withhold from an employee’s take-home pay? What are payroll deductions? Read on to learn the different deductions you have to take out of each employee’s paycheck. What are payroll deductions? Payroll deductions are […] READ MORE.

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Biweekly vs. Semimonthly Payroll

Patriot Software

Deciding on a pay frequency for your small business is an important decision. Your pay frequency determines how often you process payroll and when employees receive their paychecks. Two popular, yet easily confused, pay periods are biweekly and semimonthly. Knowing the difference between biweekly vs. semimonthly payroll can prevent financial setbacks, keep your business legally […] READ MORE.

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New Zealand Xero Awards 2022: Congratulations to our finalists

Xero

We’d like to thank everyone who stepped into the limelight and entered the Xero Awards New Zealand 2022. The quality of entries was amazing and seeing the role that Xero partners play in the small business community is so inspiring. Congratulations to our New Zealand Xero Awards 2022 finalists. Small Accounting Partner of the Year. Crux Advice & Accounting.

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What You Must Know About Demoting an Employee

Patriot Software

Demoting an employee is not easy, but sometimes it has to be done. An employee might not be doing well in their current position, and there is no other option left except to reduce their responsibilities. Even if an employee voluntarily asks for a demotion, there are still challenges for you as an employer. When […] READ MORE.

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Supreme Court To Analyze Report of Foreign Bank and Financial Accounts Penalties

Withum

The IRS requires FinCEN Report 114, Report of Foreign Bank and Financial Accounts (FBAR), to be filed annually by every U.S. person that has ownership of, a financial interest in, or signature or other authority over a financial account or accounts in a foreign country with an aggregate value in excess of $10,000. The IRS defines a U.S. person as a citizen or resident of the United States, a domestic partnership, a domestic corporation, any domestic estate, any domestic trust, or any other perso

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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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How to Give a Salary Advance to an Employee in Need

Patriot Software

Have you ever had an employee ask you for a salary advance? Maybe they’ve hit a financial rough patch. Something unexpected, such as a medical emergency, might require more money than the employee has saved up. Whatever the case, the employee might need a salary advance to help them make ends meet. Before you begin […] READ MORE.

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6 Ways to Say No to Bad Actors

Intuitive Accountant

DOCUDavit Solutions' Sid Soil shows you how to keep your digital records safe From hackers, scammers and phishers.

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Direct Deposit or Pay Card? The Best Option for Your Small Business

Patriot Software

As a small business owner, you have the freedom to choose how to pay your employees. And with so many options, it can be difficult to make a decision. Before choosing between paying employees with direct deposit or pay card, weigh the pros and cons of each. Direct deposit or pay card? Before we jump […] READ MORE.

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Using Outsourced Services to Increase Cash Flow and Stay Afloat

AccountingDepartment

Inflation has recently increased by the largest amount in 40 years in the United States. That means higher consumer prices for groceries, fuel, and everything else. An estimated 45 percent of households are currently struggling financially due to inflation. Businesses are impacted too. Inflation causes customers to have less to spend on products and services, and the cost of doing business increases.

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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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What’s the Difference Between Pre-tax and Post-tax Deductions?

Patriot Software

If you provide benefits to employees, you probably wonder how to withhold wages for the benefits properly. Do you withhold the premiums and contributions before or after taxes? Can you choose to withhold however you want? Well, it depends on the benefit. So, you must understand the difference between pre-tax vs. post-tax deductions. Pre-tax vs. […] READ MORE.

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How to Keep Your Clients' Data Secure | Canopy

Canopy Accounting

In today’s work landscape, security is—or at least should be—a big deal for everyone. In the accounting world, security is especially important, considering accountants are the gatekeepers to a lot of sensitive client data. That’s why we’ve rounded up a list of security best practices all accountants should adopt.

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What Are Post-tax Deductions From Payroll?

Patriot Software

You also need to subtract deductions from payroll. Deductions include taxes, pre-tax deductions, and post-tax deductions from payroll. You will deduct post-tax deductions after you withhold pre-tax deductions and taxes. Find out how post-tax deductions are different from pre-tax deductions, along with commonly withheld post-tax deductions. Pre-tax vs. post-tax deductions You take pre-tax deductions […] READ MORE.

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Syncing Customer Data To Quickbooks: A Feature Overview

Snyder

Businesses may want to have customer data in QuickBooks for many reasons. However, recording customer data in QuickBooks can sometimes be time-consuming and, if done manually, bears a risk of errors and inconsistencies that may later negatively affect the management of transactions and corrupt accounting reports. The customer data synchronization feature in Synder facilitates customer record keeping in Quickbooks, enabling you to bring accurate and up-to-date customer details from multiple sales

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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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Transport Your Employees to Better Tax Savings With Commuter Benefits

Patriot Software

Most employees expect certain workplace benefits, such as health insurance or retirement plans. But coming up with unique and appealing perks, like commuter benefits, can further your chances of attracting and retaining top talent. Commuter benefits aren’t just popular in big cities with prevalent public transportation systems. Any employer can give employees the gift of […] READ MORE.

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When Should You Hire a Virtual CFO?

Summit CPA

When is the best time to fix the roof? Before the rain, right? Well, the same is true of your business. Your business needs a CFO before the figurative rain. And where do you look to check for rain? A forecast. That is exactly what a Virtual CFO (VCFO) provides to your business. Using advisory services and a forecast, they make sure your business can weather any storm.

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Form 1099 vs. W-2: Which Should You Use?

Patriot Software

After the end of every year, you need to report your workers’ wages. You must send a form to the worker and governments. But, which form do you send? The form you use—Form 1099 vs. W-2—depends on if the worker was a contractor or an employee. Form 1099 vs. W-2 There are two types of […] READ MORE.

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What closing entries would Wendy’s have made in 2021 based on its trial balance?

Wendy Tietz

The Wendy’s Company (NASDAQ: WEN) is a fast-food chain and is a publicly held corporation. Wendy’s fiscal reporting periods consist of 52 or 53 weeks ending on the Sunday closest to December 31. Wendy’s 2021 fiscal year ended January 2, 2022, and its 2020 fiscal year ended January 3, 2020. To follow is a condensed […].

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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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Don’t Get Tripped up Over State-mandated Retirement Plans 

Patriot Software

State-mandated retirement plans are here to nudge (erhm, push) employers into helping employees save for their future. But, all the different rules and regulations can cause you to trip on your way to offering retirement plans. Don’t get tripped up. We’re here to help you understand your responsibilities. Read on to learn about states with […] READ MORE.

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Fraud Investigations vs. Audits

FraudFiles

After management becomes aware of a potential fraud and decides that a fraud investigation is necessary, the process of creating a team, mapping the investigation plan, and requesting information begins. An organized approach is the best way to ensure that all facets of the investigation flow smoothly, that staff is properly assigned and supervised, and that all critical evidence is analyzed.

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What Is Educational Assistance, and How Will Offering it Help Your Business?

Patriot Software

Want to boost your ability to attract and retain employees? At the same time, do you want to increase your employees’ skills and creativity? If so, you may consider offering educational assistance. What is educational assistance? Read on to learn more about this employee benefit, the advantages of having one, and IRS tax rules. What […] READ MORE.

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Intuit releases automated tax advisory solution

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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INSIDE Public Accounting Names Anders A 2022 Best Of The Best Accounting Firm

Anders CPA

Anders has been named one of the 2022 Best of the Best accounting firms in the U.S. and Canada with net revenues of $10 million or more. One of only 50 to receive this honor from INSIDE Public Accounting (IPA), Anders was among nearly 600 eligible firms that completed IPA’s 32nd Annual Survey and Analysis of Firms. Ranked on more than 50 metrics, these top performers within the profession produce superior results while planning for long-term sustainability and growth, offering both clients

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Private sector added 132K jobs in August as pay rose 7.6%

Accounting Today

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Your Accounting Inbox Needs an Overhaul: Analysis and Tracking

Lockstep

Your sales team uses Salesforce, IT is using JIRA to manage internal inquiries, and your customer success team is using Gainsight to manage the influx of customer requests. But you? You’re stuck using decades old technology. Email was never designed as an accounting tool. Using email to manage the inflow of communications and documents to/from customers and vendors may make sense on paper, but when managing multiple streams and questions from customers and vendors, email quickly outgrows its wel

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PCAOB observed problems during audits of SPACs

Accounting Today

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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.