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The process of 3-way matching in accounts payable protects your business against incorrect or fraudulent invoices. It mitigates risks in your company’s spending by making sure you don’t overpay for services or fall for counterfeit invoices. It may sound like no one would fall for invoice fraud—when a scammer pretends to be a business partner or vendor and sends a company an invoice for services that they didn’t actually deliver.
I receive at least 5 calls per year with some variation of this question. The callers are asking about the exclusion for capital gain on the sale of qualified small business stock (QSBS). By the time they reach me, the callers have already spoken with their local tax advisors and/or looked on the internet, and they know there is a 5-year holding period in order to qualify for the QSBS exclusion in section 1202.
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.
The world of advisory has undoubtedly changed over recent years. Since the pandemic’s arrival, many practices have had no choice but to adapt to an environment where uncertainty is the new norm. And despite some persistent challenges – such as hiring staff and rapid regulatory changes – this evolution has also brought about countless chances to grow, connect and innovate. .
Withum is proud to share that Profiles in Diversity Journal named Theresa Richardson , Chief Talent Officer, a 2022 Women Worth Watching Award Winner. Theresa was acknowledged for her work with Withum’s Inclusion and Diversity initiatives, specifically with the Team Member Resource Groups and expanding the Firm’s team member benefits. She is a co-leader of Women of Withum , a Team Member Resource Group whose mission is to motivate, advocate and elevate women professionals with the tools they nee
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Withum is proud to share that Profiles in Diversity Journal named Theresa Richardson , Chief Talent Officer, a 2022 Women Worth Watching Award Winner. Theresa was acknowledged for her work with Withum’s Inclusion and Diversity initiatives, specifically with the Team Member Resource Groups and expanding the Firm’s team member benefits. She is a co-leader of Women of Withum , a Team Member Resource Group whose mission is to motivate, advocate and elevate women professionals with the tools they nee
With the passage of the Healthy Delaware Families Act (the Act), Delaware became the 11th state to guarantee paid parental, medical, and military leave for employees. Delaware paid family leave (PFL) touches the lives of both employees and their employers. While the Act won’t go into effect until 2025, there are a number of things […] READ MORE.
Withum is excited to announce the expansion of its Advisory Practice to include Investment Banking Services. Kevin Bodnar joins the Firm as a Principal and leader of the new practice. With over 30 years of experience in Investment Banking and Financial Services, Kevin works with privately-held middle-market companies across numerous industries helping them grow, enhance value, and achieve their short and long-term goals.
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.
Most business owners have a traditional understanding of what an accountant does. File taxes. Prepare financial statements. But are your clients asking you for more? In the latest episode of Pulse of the Practice, “ A Small Business Owner’s Cry for Advisory Help ”, Paul Miller, Owner of Business by Design , and I sat down with Majaliwa Bass, founder and owner of Pooters Diapers , to discuss how her call for advisory help went unnoticed—and her quest to find a trusted advisor dedicated to helpin
Embracing charity in your business is not only an altruistic endeavour, which benefits society, there are also tax incentives in doing so. In such a win/win scenario, it’s hard to conjure a reason why you wouldn’t be wanting to give back to worthy causes in whatever capacity you can. But it’s wise to give serious thought to who you want to support – and before you commit to assisting, be sure your chosen charity is as reputable as possible.
We here at Going Concern have always worked remotely, cranking out our hard-hitting investigative journalism from the nearest coffee shop or cat hair-covered couch in our nicest T-shirts since 2009. yes, “journalism” When the pandemic hit in early 2020, Bramwell and I applied our expertise (for once) and wrote a remote work guide for those of you suddenly thrust into the pantsless WFH life (which was pretty much all of you knowing how remote-averse accounting firms had been up until
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.
Many businesses filed for employee retention credits. Unfortunately, the IRS has a staggering backlog of Form 941’s to process as a result of ERC filings along with normal quarterly filings. Below is an excerpt from the IRS website – IRS Operations During COVID-19: The IRS is now opening mail within normal timeframes. As of June 15, 2022, we had 3.7 million unprocessed Forms 941.
As your online store grows and attracts more customers, so does the risk of facing Stripe disputes. Disputes can lead to discrepancies and add more challenges to your accounting routine. How to deal with the dispute depends on the payment processor you use. With Stripe being among the most popular sales channels for e-commerce businesses globally, the question of resolving Stripe disputes is worth your attention.
Lockstep Inbox creates an online workspace so there’s one place for your accounting team to work together, manage shared activities, and directly connect with customers and vendors. Lockstep Inbox automatically organizes emails and documents by subject and issue for specific vendors, customers, and transactions. This vastly improves efficiency in terms of managing your existing workflows, while integrating directly with your accounting system or ERP of choice.
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.
The PCAOB adopted a new audit standard yesterday (AS 1206, Dividing Responsibility for the Audit With Another Accounting Firm ) to ensure that lead auditors are properly supervising the outside auditors they use. From the PCAOB : The Public Company Accounting Oversight Board (PCAOB) today adopted amendments to its auditing standards [ PDF ] to strengthen requirements that apply to audits involving multiple audit firms.
See how the powerful, all-in-one, cloud-driven business application gives gives business owners and employees anytime, anywhere access to their financial data and reports.
Finances can be confusing in the ever-changing world of eCommerce accounting. So, how can you make sure you can grow while still meeting all your obligations and requirements? You can rely on the services of an outsourced accounting company to help you stay ahead of your competitors. What financial statements are eCommerce companies required to make?
Some of you have already asked for additional details about Sage Accounting, one of the Sage accounting products we featured in our General Ledgers at SNH-2022 (Part 4) feature.
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.
We’ve always been proud of the work we do at Appletree Business Services , from bookkeeping to payroll and tax-keeping packages, but it’s also satisfying to hear that your work has been recognized by some of the luminaries in your field. In the case of our founder, Steve Feinberg, his years of work and achievements have culminated in the prestigious lifetime achievement award for the year 2022 by the Professional Association of Small Business Accountants.
See how the powerful, all-in-one, cloud-driven business application gives gives business owners and employees anytime, anywhere access to their financial data and reports.
It’s impossible to overstate the importance of accounting for e-commerce businesses. You might find yourself in a tight spot, especially if you’re solely relying on Shopify accounting. While you can use the platform to produce reports showing your total sales, or revenue by region, the functionality is fairly limited, and not sufficient for comprehensive expense tracking.
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.
The Virtual CPA Success Show: Episode 57. In this episode, Jody Grunden, our CEO and Co-founder sits down with our Virtual CFO, Ashley Vaughn to talk about her experience attending the Bureau of Digital Owner's Camp and Owner's Summit. Jody and Ashley discusses the benefits and key takeaways from attending these events and how it can help us provide a better service to our clients.
“My expectations were reduced to zero when I was 21. Everything since then has been a bonus.” – Stephen Hawking. Signing bonuses are just one bit of ammunition in your hiring arsenal. Just in case you aren’t up-to-date on what firms are doing in this area, a mid-size firm I recently talked with told me they are offering $10,000-$15,000 as a signing bonus.
RESOURCES / ARTICLES. Accountants as Advisors– and the Elephants in the Room! How do Accountants sell more advisory services? This is a question we get asked a lot… and the answer can be more complicated than it appears. For starters, WHY would Accountants WANT TO sell more advisory services? There could be good reasons like: They find advisory work fun and rewarding, perhaps because they get to work more deeply with clients who value their support.
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.
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