November, 2022

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Accounting Automation: The Definitive 2023 Guide

Ryan Lazanis

This is my complete guide to accounting automation in 2023. So if you want to: Learn the 8 benefits of automated accounting. Save time by automating your accounting processes. Automate all 15 areas of your accounting. Find out the latest tools to help you streamline and automate your work. Then you’ll love this new guide. Let’s get started. Table of Contents.

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The Accounting Talent Shortage is Not New, You Guys

Going Concern

Although the accounting talent shortage seems like something that just popped out of nowhere and couldn’t possibly have been predicted, oh, a decade ago, I feel compelled to remind everyone that we here at Going Concern saw this coming. I don’t say that in a “hurr durr I’ve been talking about this for ten years and no one listened” way, I mean the writing was on the wall way back so the profession really shouldn’t be surprised that we ended up here.

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Getting Maximum Value from Your Fractional CFO

BurklandAssociates

Marc Zablatsky and Steven Lord share guidelines and tips to help your startup receive the most value from your fractional CFO investment. The post Getting Maximum Value from Your Fractional CFO appeared first on Burkland.

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The Collapse of FTX

Withum

The past week has been one of the most eye-opening weeks in the history of the cryptocurrency industry, with one of the largest digital asset exchanges in the world filing for bankruptcy on Friday, November 11. How did this happen so quickly? Here is a high-level overview of the fact pattern: On Sunday, November 6, a significant holder of FTX’s native token, FTT, threatened to sell all of their FTT tokens, which created widespread panic, driving the price of FTT down significantly and leading cu

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Lockstep announces AR automation partnership with SYSPRO

Lockstep

Seattle, WA – – Lockstep , the award-winning accounting automation pioneer, today announced it has partnered with SYSPRO to grow the connected accounting network. Lockstep will provide SYSPRO’s North American customers access to award-winning accounts receivable (AR) automation software, Lockstep® Receivables. Lockstep Receivables allows SYSPRO customers to manage the invoice-to-cash process through automated communication; customer-self-service, including online payment capabiliti

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Xero announces CEO succession, Sukhinder Singh Cassidy appointed

Xero

I’m pleased to let you know t hat today we announced the appointment of Sukhinder Singh Cassidy as Xero’s new CEO, on 1 February 2023. Sukhinder will succeed Steve Vamos who after serving almost five years as CEO, is retiring from the role and plans t o return to his previous portfolio in business coaching and leadership development as an advisor, director and investor.

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Happy International Accounting Day!

Going Concern

It was on this date in 1494 that homie to Leonardo da Vinci, Venetian mathematician, and “Father of Accounting” Luca Bartolomeo de Pacioli published Summa de arithmetica, geometria, proportioni et proportionalita (or “everything about arithmetic, geometry and proportion”), making November 10 the day we celebrate…accounting.

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Xero Bank Accounts, Bank Feeds and New Bank Partnership

Intuitive Accountant

Murph is going to 'Xero' in on setting-up bank accounts, bank feeds and even Xero's new Bank Partnership in this how-to article. Look for more of Murph's Xero features in the coming weeks and months.

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Happy Thanksgiving 2022

Withum

Thanksgiving is a festive day where we get together with family and friends for dinner. It might also be the most observed national holiday. It is also propitiously placed as the first-time many college students can come home for an extended weekend. However, Thanksgiving should mean more than this. It should be a day of giving Thanks for all the Blessings we have and the people that are keeping us safe.

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Are Health Plans Required to Cover Emergency Contraceptives?

ThomsonReuters

QUESTION: Is our group health plan required to cover emergency contraceptives, including those that are available over-the-counter? ANSWER: Consistent with Health Resources and Services Administration (HRSA) guidelines, nonexempt health plans must cover without cost-sharing FDA-approved emergency contraception (levonorgestrel or ulipristal acetate), including over-the-counter (OTC) products, when the product is prescribed by an attending provider.

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Planning Your Restaurant's 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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It’s time small businesses get the support they need to thrive

Xero

Today, we presented our “ Small business. Big opportunity ” manifesto to the UK Government. In this report, we’ve made some crucial recommendations to deliver meaningful policy support to small businesses – the backbone of our economy. . At Xero, we understand the challenges our small business customers and accounting and bookkeeping partners face. And I’ve met many of you who’ve told me your worries.

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Profit vs. Profitability

Patriot Software

As a business owner, you need more incoming than outgoing money to keep your company afloat. How much money you have left over after you pay expenses is known as profit. You should measure your business’s profits, which is known as profitability. Understand profit vs. profitability to analyze your company and make financial decisions. Profit […] READ MORE.

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EY Survey Ironically Finds the Four-Day Workweek is the New Standard at Many Companies

Going Concern

According to the latest EY Future Workplace Index survey, many companies are moving toward a four-day workweek thanks in part to competition for talent. The survey reveals surprisingly optimistic attitudes from company leadership on real estate investment despite economic tightening, says the press release, a sign that employers want you back in the office at any cost.

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Ignition Council Set Transform Professional Services Interactions

Intuitive Accountant

The 16-member council of accounting industry leaders will inform Ignition’s strategic product direction, and accelerate technology adoption and upskilling programs.

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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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1099 Filing Season is Upon Us – What You Need to Know

Withum

Form 1099 season is quickly approaching, and now is the time to check the boxes and make sure your business is ready for a quick and painless filing in January. 1099’s report non-employee compensation to vendors who provide services such as independent contracting, consulting, attorney services, rents, royalties, commissions and much more. Does Your Business Have to File 1099-MISC and/or 1099-NEC?

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How to streamline accounting processes—a step-by-step guide

ThomsonReuters

Most accountants know that choosing the right accounting technology can boost the ability to serve clients, satisfy staff, and build deeper client relationships.?But how do you take full advantage of technology to streamline accounting processes? . The answer lies in implementing an end-to-end tax workflow automation solution backed by an integrated technology ecosystem.

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Required Minimum Distributions | Canopy

Canopy Accounting

It’s no secret that the U.S. population is getting older. Today, there are more than 54 million adults aged 65 and older, but by 2030, that number is expected to rise to 74 million. While this trend will create a number of social issues, one thing we tax preparers know is; helping our clients deal with retirement accounts is going to become an increasingly large part of our practices.

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How Much Do Small Business Owners Make? The Answer May Surprise You

Patriot Software

Running a small business takes passion, gumption, and determination. But, becoming a small business owner isn’t a fast track to getting rich. So, how much do small business owners make? How much does a small business owner make a year? Incomes vary because of factors like industry, geographic location, and experience. Being a small business […] READ MORE.

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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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EY Reports a Rise in Naughty Behavior Now That People Have Returned to the Office

Going Concern

EY Oceania has released its second Value Realised Scorecard — a wide-ranging report on how the firm is doing — and Daily Mail Australia immediately latched on to page 33: Workplace Incidents: DM’s salacious headline “ EY rocked by soaring number of sexual misconduct and bullying complaints as big four accounting firm workers return to the office after Covid and the tragic death of a female staffer who plunged from 10th floor balcony ” slightly exaggerates the situat

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Meet the AuditClub Academy

Intuitive Accountant

AuditClub addresses the CPA talent shortage with the launch of a program that will help students gain audit experience, Accelerate CPA licensure and advance career progression.

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The Typical Occupational Fraudster

Withum

Beware, your most trusted employees could be fraudsters. You trust your employees to perform their daily job functions properly. Maybe they are not. How can you tell? Continue reading to learn about who tends to commit the costliest frauds and the red flags to watch out for. In our previous two articles, 2022 ACFE Report to the Nations: Fraud Trends and Key Takeaways and Fraud: Is It Happening to You?

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Accountant Networking: The Best Places + 9 Tips

Ryan Lazanis

Accountant networking is a tried, tested, and true method to build connections, grow your business, and advance your career. In this article, you’ll find out why accountant networking is so important, where you can network plus 9 of the best tips to succeed. Let’s go! Table of Contents. What is Networking in Accounting? Why is Networking Important for Accountants?

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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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Not-for-Profits in the Know Panel: Tapping into Talent, Reacting to Market Volatility and Financial Planning for 2023

Anders CPA

We’re wrapping up our 2022?Not-for-Profits in the Know webinar series?designed to educate and empower community leaders to further their missions. With organizations still bouncing back from the pandemic, our last webinar of the year will focus on what your not-for-profit needs to know going into 2023 to start the new year on solid financial ground.

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How to Organize Your Business Finances

Patriot Software

The lifeblood of any business — large or small — is financial integrity. Efficiently managing your small business accounting can help determine your success. If you don’t know where to start, consider leveraging accounting software. By getting your finances in order, you will save a lot of hours, headaches, and dollars. Getting your books organized takes […] READ MORE.

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Who Pays for Health Coverage During FMLA Leave?

ThomsonReuters

QUESTION: Does our company have to pay for employees’ health coverage while they are on FMLA leave? ANSWER: Your company does not have to pay your employees’ share of health coverage premiums while they are on FMLA leave. However, employers covered by the FMLA (generally, private-sector employers with 50 or more employees and public agencies and local educational agencies with any number of employees) must maintain coverage under any group health plan for the duration of an FMLA leave at the l

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More About QuickBooks Enterprise Data Level Permissions

Intuitive Accountant

Sometimes, unless you look for things, you don't see the changes that have come along. This is one Murph expected, but never wrote about it until now—even though it was released in v21-R4.

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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.

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Whistleblowers in Tax Matters

Withum

“We don’t pay taxes. Only the little people pay taxes.” That infamous quote from Leona Helmsley sums up the (mostly unspoken) opinions of many taxpayers. Unfortunately for them, there are people in their lives with the knowledge that they have engaged in tax evasion. These people can make a call to the IRS and become a whistleblower. That decision can be lucrative for the whistleblower and expensive for the taxpayer.

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5 CPE Courses To Be Grateful For | Canopy

Canopy Accounting

The end of the year is nearing, which means it’s crunch time for CPAs who still need to earn those mandatory CPE credits. Accounting CPE credits can be acquired by participating in various courses, webinars, and conferences throughout the year. We’re sharing 5 great course options that you’ll be grateful for while finishing your CPE credits for the year.

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Accountant Busy Season: 5 Survival Tips for Accounting Busy Season

Snyder

Christmas cheer is just around the corner, but where does the other strange feeling come from? Ah, yes. Tax season. The first four months of every calendar year are the time when accountants are at their busiest. From January to April, there are few things that accountants do besides tax filing. This is what makes busy seasons so stressful for accountants.

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How to Create a Small Business Growth Strategy

Patriot Software

Getting your first sale from business is a great milestone to accomplish. Once you have a steady stream of customers, it’s time to start thinking about growing. With a solid growth strategy, you can take your business to new heights. Small business growth strategies give you a roadmap for expanding your company. A plan will […] READ MORE.

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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.