Sat.Oct 29, 2022 - Fri.Nov 04, 2022

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Detailing the Root Causes of Industry Burnout

Intuitive Accountant

The second chapter of FloQast's 'Controller’s Guidebook' survey program pinpoints the critical relationship between accountants and technology, and elevates potential solutions to encourage synergy.

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The Widening of the Tax Gap is the IRS’s Fault, Says the IRS

Going Concern

Accounting Today reported on Friday: The estimated gross U.S. tax gap increased to $496 billion annually for tax years 2014 through 2016, a rise of over $58 billion from the prior estimate — and the Internal Revenue Service estimates the gross tax gap will rise to $540 billion for 2017-2019. “The increase in the tax gap estimates reflects that the IRS needs to do more, both in improving taxpayer service as well as working to improve tax compliance,” said outgoing IRS Commissioner Chu

Tax
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Wrap up Your Accounting Period With Closing Entries

Patriot Software

When you manage your accounting books by hand, you are responsible for a lot of nitty-gritty details. One of your responsibilities is creating closing entries at the end of each accounting period. What are closing entries? Closing entries are entries used to shift balances from temporary to permanent accounts at the end of an accounting […] READ MORE.

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Common Accounting Mistakes New Business Owners Make | Canopy

Canopy Accounting

Starting a new business is a pretty exciting time for any new business owner. The idea that they are beginning something great empowers them to work their hardest and do their very best to have a successful business. These first few moments as a new business owner are exciting times, however, they may cause the business owner to underestimate the importance of having good accounting practices in place from the very start.

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8 Ways to Torture Your CFO

The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.

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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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The Low-Down on Key Performance Indicators

AccountingDepartment

Clickthrough rates for web content, production efficiency, and average resolution time have one major commonality. These are all examples of key performance indicators, better known as KPIs.

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St. Louis Inno Partnership: How to Find a Cofounder for Your Startup

Anders CPA

Adding the right cofounder to your startup team can open several doors, from bringing in a unique perspective to improving the quality of your product or service, to establishing credibility with prospective investors. Senior tax manager Josh Snyder detailed the benefits of recruiting a cofounder, how to choose the right fit for your startup and more in a recent article for the St.

CPA
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The accountant shortage threatens capitalism's future

Accounting Today

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Email Blunders for Accounting Teams to Avoid

Lockstep

We all know how frustrating email can be, especially for accounting teams. Sometimes it just doesn’t work as you want it to. Email often becomes a major source of frustration – especially when things go wrong. In Part I and II of this series, we took a look at some of the most common accounting email blunders that can cost time and money.

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Digital advertising tax blocked

TaxConnex

A new tax law in Maryland seemed ready to rattle every company that sold digital products in the U.S. But a court has now invalidated the Maryland Digital Advertising Tax. Earlier this month, an Anne Arundel County Circuit Court judge blocked the digital advertising tax, which was set to be levied on companies making more than $100 million. The judge ruled that the tax violates the Internet Tax Freedom Act and the U.S.

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How to Streamline Payment Applications & Lien Waivers Through Innovative Construction Technology

Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant

Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.

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Benefits of GAAP

SMBAccountant

The benefits of following GAAP for Small Business: Many small business owners shy away from anything associated with Generally Accepted Accounting Principles (otherwise known as GAAP) thinking they apply only to large publicly held organizations. This thinking is far from true, however. GAAP was created to be a standard "rule book" for organizations to follow, and was intended to be used by all businesses -- small and large, private and public.

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Introducing Burkland’s New Toolkit to Help Extend Your Startup’s Cash Runway

BurklandAssociates

Burkland has compiled a new toolkit to help you extend your startup’s runway with intelligent scenario planning, cost reduction, and cash flow measures. The post Introducing Burkland’s New Toolkit to Help Extend Your Startup’s Cash Runway appeared first on Burkland.

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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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Sales tax concerns if you sell through multiple channels

TaxConnex

This article was originally featured in the Retailist on October 3rd, 2022. Businesses have new ways to sell today, as marketplaces such as Amazon and the business’s own website have joined established channels like direct retail sales and wholesale sales. Each brings different sales tax implications – and retail and ecommerce businesses aren’t always aware of their obligations.

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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INCPAS outlines 3 strategies to grow talent pipeline in colleges and universities

Accounting Today

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Our Audits Sucked Because the Auditors Are Exhausted, Says Deloitte Australia

Going Concern

Last week the Australian Securities and Investments Commission (think Aussie PCAOB) informed us that Deloitte and KPMG need to take “continued deliberate and concerted action” to improve the quality of their audit work because apparently it is just that bad. Deloitte did not meet ASIC standards on half of audits inspected, KPMG came in at 48 percent.

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Types of Invoices for Small Business

Patriot Software

Like many small business owners, you send customers bills after providing a product or service. An effective invoicing system gives customers more flexible payment options. You need to know which types of invoices to send customers for different situations. Types of invoices There are many different types of invoices you can send to customers. Each […] READ MORE.

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Where to start on your Xero education journey

Xero

We know it’s not enough to just create really #beautiful accounting software – we also need to teach you to use it. Spending time educating yourself on Xero can help you get time back once you’ve built up your confidence. . You probably know by now that when you have a question about Xero, Xero Central is your first stop. But did you know it’s also your home for proactively learning about Xero?

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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Tax planning in an unpredictable political and financial climate

Accounting Today

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Deloitte Just Canned a Bunch of Old Leaders to Make Way For Younger Ones in the UK

Going Concern

FT is reporting that Deloitte just axed half of UK executives this week, a surprisingly abrupt move that was announced to staff yesterday. The reason? “The changes were driven partly by a desire to replace older members of the management team with younger partners who would be young enough to run for election as chief executive at the end of North-South Europe CEO Richard Houston’s second term in 2027,” a source told FT.

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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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What’s next for new invoicing? Here’s a sneak peek

Xero

Invoicing is one of the most critical parts of running a business or practice. That’s why we’re committed to providing you with a smart and simple way to create and send an invoice, so you can work more efficiently, get paid on time and give your customers a better experience. We have two invoicing experiences in Xero right now: the older version (known as ‘classic’ invoicing) and ‘new’ invoicing.

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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

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IRS drafts new K-2. K-3 instructions

Accounting Today

Tax
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This NASBA Tweet Is Going to Disappoint A LOT of People Today

Going Concern

On Thursdays the official NASBA Twitter account publishes #ThursdayThoughts, usually some kind of tip or trick like last week’s advice on what to do if you are having trouble matching to your NASBA Dashboard’s CPA Portal account ( here’s the link for that if you need it). But today’s thought is less a tip and more of an abject dream-crusher.

cma
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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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Latest product news — November 2022

Xero

Over the past month, we’ve made updates to support the transition to Single Touch Payroll Phase 2 in Australia, improvements to eInvoicing, changes to multi-factor authentication, and more. Read on for more details about these and other product updates in Xero. New features. Enjoy more beautiful reports — Global. We’ve made a number of enhancements to new reports in Xero over the past month.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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Ransomware attacks doubled from 2020 to 2021

Accounting Today

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Baseball and Business Skills

Withum

Watching the World Series has me thinking about the importance of excellence in every skill a player needs. These include pitching, batting, catching, throwing, hitting the cutoff man, running, sliding, stealing a base, bunting, practicing, working out, training, loosening up, following signals, getting coached, making sure equipment is maintained, studying opposing players, planning for the game and teamwork.

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Invoice vs. Receipt: What’s the Difference?

Patriot Software

When you sell goods or services, you need to create a record of the transaction. Depending on the situation, you will either give customers an invoice or receipt. What is the difference between an invoice and a receipt? Understand invoice vs. receipt distinctions to avoid confusion. Invoice vs. receipt Both invoices and receipts are paper […] READ MORE.

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We’re making changes to some fields in our practice tools

Xero

From early November 2022, we’ll be updating some fields in Xero Practice Manager (XPM) and Xero HQ. This is all part of our work to provide you with a more unified client record in the future, so you can enjoy a seamless connection between our practice tools. . What’s changing in XPM and Xero HQ. Over the coming weeks, the fields in your practice tools will look a little different.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

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.