Mon.Aug 29, 2022

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How to Do Payroll: Your Step-by-step Guide on Paying Employees

Patriot Software

If you’re becoming an employer or already have employees, you must learn how to do payroll. Handling payroll is an important employer responsibility with many steps. Familiarize yourself on how to do payroll by learning about what payroll information you need to gather and the steps you need to follow to pay employees. Information to […] READ MORE.

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Art of Accounting: 10 ways to better manage your time

Accounting Today

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Even KPMG in South Africa Could Not Escape the Clutches of PCAOB Enforcement

Going Concern

Earlier today the PCAOB gave KPMG of the South African variety a slap on the wrist and punished a couple of partners for the firm collaborating with an outside accounting firm not registered with the PCAOB on three years ’ worth of audits of a public company. That non-registered accounting firm was KPMG Zimbabwe. And these two KPMG affiliates have a history of getting into trouble together.

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AICPA proposes revisions to tax standards and 1040 crypto question

Accounting Today

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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What Is the Penalty for Not Paying Payroll Taxes?

Patriot Software

Collecting, reporting, and remitting payroll taxes are some of your key responsibilities when you have employees. And if you forget or downright neglect your responsibility, your small business could receive a penalty for not paying payroll taxes. Whatever your reason for missing your deposit deadline, not paying payroll taxes is a big deal to the […] READ MORE.

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Surprise: Borrowers may face up to $1,100 in state taxes on forgiven student loans

Accounting Today

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More Trending

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The next business model for accounting firms

Accounting Today

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What to Know About Shift Differential Pay

Patriot Software

Many employers find themselves extending their hours of operation to keep up with customer demands. Businesses operating day and night need employees who are willing to work evening or late shifts. However, it can be difficult to recruit employees for these undesirable hours. Paying employees a shift differential is an effective way to overcome staffing […] READ MORE.

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Ledgible releases crypto tax guide

Accounting Today

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Learn How to Calculate Your Absenteeism Rate—and Use It—Today

Patriot Software

From time to time, employees miss work. Expecting employees to come in every day throughout the year is likely unrealistic. But when employees make a habit of missing work unexpectedly, their absences can set your business back. Learn how to calculate your business’s absenteeism rate to reduce absenteeism in the workplace. What is the absenteeism […] READ MORE.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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PCAOB fines KPMG South Africa for using unregistered Zimbabwe affiliate

Accounting Today

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Reevaluating Your Payroll Processing Procedures: How to Know When It’s Time for a Change

Patriot Software

It’s always a good thing to reassess your business processes every once in a while. What can you improve on? How can you make processes easier? One process that many businesses struggle with is payroll. If your process is making you suffer, it’s time to switch things up by reevaluating your payroll process procedures. Payroll […] READ MORE.

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CFOs feeling gloomier about economy in Q3

Accounting Today

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What Is Medicare Tax? A Closer Look for Employers & Employees

Patriot Software

If you have employees, you’re responsible for handling and paying Medicare tax. Like all things tax-related, Medicare tax can get complicated quickly. Read on to learn what is Medicare tax, what it funds, and how much it costs. What is Medicare tax? Medicare tax is a payroll tax employers and employees share. You must withhold […] READ MORE.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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IMA CEO Thomson to retire early next year

Accounting Today

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How to Handle Accrued Time Off in Your Business

Patriot Software

Paid time off (PTO), including vacation days, sick days, and holidays, is a popular employee benefit. According to the Bureau of Labor Statistics, 77% of employees receive paid vacation days, 77% receive paid sick leave, and 79% receive paid holidays. But when employees don’t use up their PTO, they’re left with accrued time off. If […] READ MORE.

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What’s Included in Virtual CFO Services?

IgniteSpot

What Is a Virtual CFO? You’re probably familiar with the role of chief financial officer (CFO), but your company doesn’t have one. yet. CFOs are usually high-level business executives, commanding high salaries to match. But small- and medium-sized businesses like yours might not be ready for that. Virtual CFO services provide an alternative to in-house financial expertise as you continue to scale.

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Can Your Employees Change W-4 Forms?

Patriot Software

New employees must complete Form W-4 before they start working at your business. With Form W-4, employees input information that determines their federal income tax withholding, which allows you to run payroll. To adjust their withholding, employees must change W-4 forms. As an employer, you might be wondering about the rules for updating Form W-4. […] READ MORE.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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7 Ways to Transition Your Team to New Technologies

Intuitive Accountant

New technology can help your firm streamline its processes, communication and workflow. But are you doing it? Client Hub's Judie McCarthy shares tips on making the leap.

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Can You Hire Someone Without a Social Security Number?

Patriot Software

When you hire new employees, you are responsible for collecting new hire paperwork. You must gather information, such as an employee’s name, address, and Social Security number (SSN). But, what happens when an employee doesn’t have an SSN? Can you hire someone without a Social Security number? Get the answers to all of your burning […] READ MORE.

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Renters Insurance for College Students

Withum

As students return to campus around the country with shiny new dorm décor, laptops, and other assorted electronics, it is important to understand how those items are insured. A common misconception is that student’s belongings are covered under their school’s coverage of the building, but those policies only cover the structure and not the contents.

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Gross vs. Net Pay: What’s the Difference?

Patriot Software

Running payroll can be confusing. Although it’s natural to have payroll questions when starting out, you can’t afford to get tripped up when it comes to gross vs. net pay. Knowing the difference between gross and net pay impacts employee wages, payroll withholdings, recordkeeping, and even employer laws. Learn gross pay vs. net pay, how […] READ MORE.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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Western Foodservice & Hospitality Expo

KROST

Our Restaurant team exhibited at the Western Foodservice & Hospitality Expo on Monday, August 29th from 11am-5pm. We were located at the Los Angeles Convention Center — South Hall in Booth #1123. We volunteered to raise money for Restaurants Care. Thank you to those who came by to say hello and spun our prize wheel. Read the full article. The post Western Foodservice & Hospitality Expo appeared first on KROST.

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Monday Morning Accounting News Briefing: PwC India Hiring; CFO Expectations; EY’s Sales Pitch | 8.29.22

Going Concern

“Why aren’t there resources to help those with private loans get forgiveness?” asks a 34-year-old accountant who paid off $100,000 in private student loans. “It’s like I was told that if I went to college I’d be able to get a good job and support myself and family, and that’s just not always true in our current environment.” A former chief accounting officer of two businesses in Ohio gave herself a $36 per week raise and extra bonuses of $600 and $

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Do I Need a Bookkeeper If I Have Quickbooks?

MazumaBusinessAccounting

Yes. Yes, you do need a bookkeeper even if you have Quickbooks. We understand that you’re a small business owner, and you want to save money where you can. But relying on software alone may cost you more in the long run. Accountants and bookkeepers can offer so much more than Quickbooks. Why You Need a Bookkeeper Even If You Have Quickbooks. Here are just a handful of reasons that having a human touch is better than relying on Quickbooks alone.

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ICYMI: KPMG Is Downsizing Its NYC Digs Big Time

Going Concern

KPMG announced last week it will relocate its headquarters to Two Manhattan West, a new building in Midtown Manhattan’s West Side slated for completion in 2023. The new digs mean a huge 40% reduction in NYC office space, signaling the firm expects hybrid work to persist for the foreseeable future and then some (sorry, Boomers). From the press release : When construction on KPMG’s new space at Two Manhattan West – part of Brookfield Properties’ Manhattan West neighborhood – is c

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.

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Do Small Businesses Get Tax Refunds?

MazumaBusinessAccounting

In 2021, the average tax refund was $3,039. Small potatoes? Hardly, especially given the economic downturn of the last couple of years. New small business owners may be hopeful for a tax refund, a small gift to invest back into their operations. Not all types of small businesses can receive tax refunds, however. Is yours one of them? Do small businesses get tax refunds?

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On-Demand Webinar: Lessons from the First 100 Days of Recreational Cannabis in New Jersey

Withum

Garden State Cannabis Regulatory Commissioner Krista Nash Keynote Presentation. Krista Nash , NJ Cannabis Regulatory Commissioner, reflected on the first 100 days of recreational cannabis and shared her insights and predictions for the cannabis industry in the Garden State. With over 230 businesses with temporary permits, she touched on the next phase of this multi-billion-dollar industry including regulations, enforcement efforts and ways to support the social equity program.

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Reconciliation: a Short Feature Overview

Snyder

Why is the Reconciliation feature so important? Reconciliation is the process of identifying and correcting accounting mistakes, omissions, or inconsistencies in financial records. It’s a process that every company must go through to ensure their books are balanced and accurate. Having an organized reconciliation system can save you time and money by reducing manual intervention and minimizing the risk of error.

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Semiconductor (Microchips) Manufacturing Reshored to USA 

Withum

The Chips and Science Act, signed into law on August 9 by President Biden, contains $52 billion in subsidies and tax credits for global chip manufacturers to expand their footprint in the USA. [1]. United States manufacturing employment decreased 33% from 1985 to 2014. During the same period, the United States semiconductor manufacturing, accounting for 1.7% of the total of the United States manufacturing workforce, lost 35% of its employees.

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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.