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Is your accounting software having a laugh at your expense? Prudence is more than a mantra. It’s the deep devotion that underpins the entire finance function. And yet thousands of organisations are using accounting software that undermines this fundamental credo. No-one is implying that finance departments are being profligate. Far from it. Nor is one suggesting that the software at the very heart of their work is betraying them (though some of the more idiosyncratic systems may sometimes feel l
Menzies LLP - A leading chartered accountancy firm. As an employer you will have many responsibilities and the question of whether you should outsource your payroll may have crossed your mind. At first glance it seems that payroll is a simple task that you can handle without help. However, there are many complexities and compliance issues that need to be considered alongside day-to-day processing.
Getting paid quickly by your customers is what helps enable more cash flow for your business. But getting customers to make payments quickly has become a challenge for many. Delaying payments has become a growing trend that started well before the COVID pandemic.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
Summer can bring extreme weather, including floods, droughts, wildfires, tornadoes and hurricanes. These natural disasters and other crises can interrupt normal business operations, causing significant financial losses. If disaster strikes, a business interruption insurance policy can allow you to recoup lost profits, repair damaged assets and cover other incremental expenses.
From e-commerce stores to SaaS startups, businesses need to receive payments from customers , and payment gateways are one of the most common ways to do this. There are many options for collecting money online – credit cards, Buy Now Pay Later cards, or PayPal, just to name a few. However, not all payment gateways are the same. What you need may depend on your business’s size and needs.
There are a few buzz words going around in the industry right now—remote or distributed workplace, success, and culture. But what do these hot-topic trends mean? It’s no surprise that businesses of all kinds had to work from home when the world shut down from COVID, whether they wanted to or not. Now, businesses are exploring remote work environments and taking advantage of the tools and resources that evolved during the pandemic.
There are a few buzz words going around in the industry right now—remote or distributed workplace, success, and culture. But what do these hot-topic trends mean? It’s no surprise that businesses of all kinds had to work from home when the world shut down from COVID, whether they wanted to or not. Now, businesses are exploring remote work environments and taking advantage of the tools and resources that evolved during the pandemic.
When you sell goods to customers, you likely collect and remit sales tax to the government. And when you purchase products, you typically pay sales tax. But, how do you record these tax collections and payments in your accounting books? Sales tax accounting. You should understand accounting for sales tax to maintain organized and accurate […] READ MORE.
What kinds of companies are more prone to fraud? In my business, we talk a lot about the red flags of fraud. There are two different types of red flags: the kind that suggest that a fraud is currently in progress, and the kind that puts a company at greater risk of fraud. In this video, I talk about a few of the characteristics of companies that seem to put companies in greater danger of becoming a victim of fraud by employees.
For many people, forecasting sounds like something connected with weather prediction or fortune telling. Surprisingly, financial forecasting isn’t that far off. After all, businesses use it to predict their future performance, taking into consideration potential clouds on the horizon and thinking through steps to avoid getting into a thunderstorm. The difference is that businesses won’t need any crystal balls or magic potions to forecast – they’ll use their business data instead, which is an eve
The sales tax audit can be one of the scariest – and costliest -- things an online business ever goes through. If you do get hit with an audit, it’s critical to handle the process correctly. Last time we looked at mistakes companies make leading up to an audit (Check out part 1 here). This blog will conclude our top 10 list with a look at 5 missteps to avoid when handling and resolving the audit.
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.
When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so that this doesn’t happen again next year. You might even want to adjust your withholding if you got a big refund. Receiving a tax refund essentially means you’re giving the government an interest-free loan. Adjust if necessary Taxpayers should periodically review their tax situations and adjust withholding, if appropriate.
FP&A helps startups scale by leveraging the company’s data for decision making, including data that may be hidden beneath the surface. The post How Does FP&A Help Startups Scale? appeared first on Burkland.
There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Virtual reality. Sales tax on digital products was the subject of a white paper draft at the Multistate Tax Commission’s annual meetings in Anchorage, Alaska. The purpose of the project: help states develop a simpler and more adaptable approach to taxation of digital products.
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.
As you’re aware, certain employers are required to report information related to their employees’ health coverage. Does your business have to comply, and if so, what must be done? Basic rules Certain employers with 50 or more full-time employees (called “applicable large employers” or ALEs) must use Forms 1094-C and 1095-C to report the information about offers of health coverage and enrollment in health coverage for their employees.
The IRS recently issued a chief counsel advice memorandum (CCA 202237010 (Aug. 19, 2022)) addressing the proper treatment of improperly forgiven PPP loans. The IRS ruled that the PPP loan forgiveness amount is not tax-free, even if the SBA and lender granted the borrower full loan forgiveness, if the taxpayer did not satisfy the factual requirements for loan forgiveness.
Because of the three people pictured in this row on an airplane, only one of them is the current Treasury secretary of the United States. And it looks like Janet Yellen is doing a little light reading on this flight: Surely you guys can come up with a better photo caption than James did on LinkedIn, and you all can definitely come up with something WAY more creative than we could.
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.
You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future, it contains, extends and modifies many climate and energy-related tax credits that may be of interest to individuals. Non-business energy property Before the IRA was enacted, you were allowed a personal tax credit for certain non-business energy property expenses.
There are too many distractions that divert our energies from what is really important to us. We have limited time, and we all have too much to do and too much that we want to do. Yet, we move from one distraction to another without any thought. I refer to all background distractions as “Noise.” The distractions take many forms. Interruptions by others, a text, an email, a phone call or even a “breaking news” alert on our smartphones.
It’s been exactly two weeks today since Xerocon Sydney kicked off, and it’s safe to say we’re still buzzing from the experience. In case you missed it, we wrapped the event with a special sign-off from our APAC leadership team. Joseph Lyons, Managing Director for APAC, took to the main stage with Will Buckley, Koren Wines and Bridget Snelling – our Country Managers for Australia, Asia and New Zealand, respectively.
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.
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you receive interest, dividends, self-employment income, capital gains or other income. Here are the applicable rules for paying estimated tax without triggering the penalty for underpayment. When are the payments due?
For the most part, business travel expenses are tax deductible, meaning that you could lower the amount of taxes you need to pay. . When it comes to tax-write offs for travel, the IRS provides specific guidelines around what you can claim. Mainly, your trip needs to be primarily for business purposes. However, there is some wiggle room to get a little vacation time in during a business trip that qualifies as a travel expense. .
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.
Murph tries to pick a few of new or enhanced Desktop features each year as his favorites—with an explanation of why. This year was a little hearder, mainly because he liked them all—some more than others.
Bills is one of Xero’s most loved features. It helps you track and pay bills on time, have a clear overview of your accounts payable, and gain a better understanding of your cash flow. As part of our commitment to ‘ Building on Beautiful ’ — which is about continuously upgrading our technology to build new features faster, giving our platform a consistent look and feel, and making sure we keep accessibility top of mind — we’re refreshing the bills experience in Xero.
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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