Sat.Dec 17, 2022 - Fri.Dec 23, 2022

article thumbnail

12 ways you could make more money in your accounting practice

Mark Lee

Most of the accountants who approach me start by talking about their problems and what appears to be an immediate challenge. As the conversations progress I am typically able to help them consider the real issues that are causing the challenge that prompted their call. This is much the same as the way that a decent GP doesn’t just prescribe medication for your symptoms without first trying to find out what is causing them.

account 52
article thumbnail

What are Ghost Assets?

Simple Accounts

Do ghosts exist? Yes, no , or maybe, but ghost assets do exist. They are in your records, but you tend to ignore their presence a nd end up in trouble. . Any asset that is lost, stolen, or unusable but is still listed as active on your fixed asset register is referred to as a “ghost asset.” For example, a broken printer, unused computers, stolen goods, anything of this sort can be listed under the ghost asset category. .

tax 98
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Common Challenges Faced with Payroll Outsourcing Services

Basis 365

Outsourcing payrolls can significantly reduce your workload and save time and money, allowing you to focus on your business growth and take care of other essential tasks. As a result, many companies now turn to payroll outsourcing. Outsourcing can make it easy to issue payrolls efficiently and keep a complete record. This will save you time and effort and eliminate the chance of making mistakes.

payroll 52
article thumbnail

Top 5 Accounting Problems & Solutions

IgniteSpot

What causes accounting problems? So many things can throw your books out of whack, having a ripple effect on your business operations, financial outlook, and even your team. Several red flags lead to confusion and inaccuracies. Your accounting software, fraudulent activities, internal controls, and misapplication of generally accepted accounting principles (GAAP) may be to blame.

article thumbnail

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.

article thumbnail

The Difference between Bookkeeping and Accounting

SMBAccountant

Bookkeeping and accounting are often used interchangeably when describing a process of recording financial transactions for a business, but they are not the same functions. Generally speaking, bookkeeping is a part of the accounting process that focuses on recording financials transactions and is heavily rooted in data entry and reconciliation of bank and credit card transactions and statements.

article thumbnail

5 New Year's Resolutions for Accountants in 2023 | Canopy

Canopy Accounting

It’s almost time to ring in a new year and what better time to start fresh and improve yourself and your career? 2023 is going to be your year and it’s up to you to make the most of the opportunity! With self-improvement in mind, here are 5 New Year’s resolutions accountants should have this year.

account 98

More Trending

article thumbnail

You’ve Collected it … Now What? How to Pay Sales Tax for Small Business

Patriot Software

You know that little line at the bottom of your receipts and invoices that says Sales Tax? As a business owner, it’s not your responsibility to pay it out of pocket. But it is your responsibility to collect and remit sales tax. If you don’t know how to pay sales tax for small business to […] READ MORE.

Sales 85
article thumbnail

The Wall That 7-Figure Firms Face

Ryan Lazanis

Many have developed their company swiftly past mid-6 figures, and while it wasn’t simple, things change when they hit 7-figures. Worst, they get stuck. I will explain two ways I diagnose this wall to help business owners break through it. Listen Below. 1:38 – Today, I want to share 2 things that I do to diagnose this wall to help firm owners break through it. 1:44 – The very first thing I do is get an understanding of the firm’s packages and prices. 2:14 – I’ll also look at the firm’

account 52
article thumbnail

The future of Indirect Tax (IDT): How to take charge of changes

ThomsonReuters

In the past few years, indirect tax specialists have had to deal with the Covid pandemic, Brexit, an ever-changing landscape of rules and regulations, budget tussles, hiring difficulties, and numerous other challenges. The professional terrain is no less rocky heading into 2023. In a recent panel discussion with Indirect Tax (IDT) experts hosted by Thomson Reuters in London, the prospect of a looming recession and tightening budgets were certainly a top concern, but so were many familiar issue

tax 59
article thumbnail

Sales and Use Tax for Leasing – Not as simple as you may think

TaxConnex

This was previously published in Monitor Daily – check out the article now! [link]. Today’s economy has allowed rental and leasing companies to flourish. Many jurisdictions impose a sales tax on the rental or lease of tangible personal property. And along with this tax imposition comes some sales tax applicability nuances depending on the type of lease, associated services and the type of property being leased.

article thumbnail

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.

article thumbnail

Readers’ Favorites: Our Top Blog Posts of 2022

BurklandAssociates

2022 was a challenging year of surprises for startups and investors. Our readers found these blog articles to be especially helpful. The post Readers’ Favorites: Our Top Blog Posts of 2022 appeared first on Burkland.

tax 130
article thumbnail

Managing Remote and Hybrid Workers

VetCPA

Whether or not the number of people working from office buildings returns to pre-COVID levels, one thing appears certain: Remote and hybrid work models are here to stay. Business owners and other managers who rely on individuals who are working remotely full- or part-time are refining and elevating their management skills so that they get the best out of their employees.

130
130
article thumbnail

FIFA World Cup 2022 – Does Captain America Owe Uncle Sam?

Withum

Whether they grew up playing in the parks of Hershey, Pennsylvania, the frequent downpours of Oxfordshire, UK, the bitter cold of Detroit, Michigan, or the manicured training fields of Borussia Dortmund, most aspiring pro soccer players dream of playing in the World Cup. Such was the path of a young Christian Pulisic, or ‘Captain America’, as he is endearingly called by US Soccer fans.

article thumbnail

Sales tax for Shopify users

TaxConnex

Shopify is one of the most popular e-commerce platforms. The e-commerce website builder claims that more than 1.7 million businesses have made over $200 billion in sales with the Ottawa, Ontario-based company’s websites. Free trials, tiered plans, 24/7 support, thousands of app integrations, unlimited storage and bandwidth… Truly does sound like what Forbes called an “all-in-one platform [with] everything you need to launch an online store.”.

Sales 130
article thumbnail

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.

article thumbnail

Wall Street Journal Addresses the Accountant Shortage, Suggests a Recession Could Fix It

Going Concern

I made my entrée into accounting way back in 2007, at the time my job involved a three-hour roundtrip journey across four Bay Area counties and back and I was looking for something a bit closer to home. Shortly after starting in CPA review, I started seeing more and more “For Sale” signs on the yards of the houses my bus would pass on the way to work and not that much longer after that, Lehman Brothers failed and, well, you know what happened after that.

account 117
article thumbnail

What Do All Those Employee Benefits Acronyms Stand For? (Part 3 of 3)

ThomsonReuters

QUESTION: Everybody in the employee benefits field uses acronyms like ALE, MLR, and ACA. What do these and other employee benefits acronyms stand for? ANSWER: Here’s an explanatory list of common acronyms primarily used in our Health Care Reform manual. (Last week’s Checkpoint Question of the Week included acronyms primarily used in our COBRA, HIPAA, and Group Health Plan Mandates manuals, and the Checkpoint Question of the Week from the week before included acronyms from the ERISA Complia

tax 98
article thumbnail

Chris Passmore named on Thriving in their 40s List by Los Angeles Business Journal

Withum

Withum is proud to share that the Los Angeles Business Journal has named Chris Passmore on their Thriving in their 40s list for 2022. Christopher Passmore , CPA, MBA, specializes in assurance and business consulting services to emerging and middle-market companies and leads Withum’s Encino office as the partner in charge. Chris services a wide variety of clients and specializes in working with technology companies , professional service firms , franchised businesses and employee benefit pl

cpa 98
article thumbnail

12 Days of Canopy

Canopy Accounting

The Canopy team is excited to share the most impactful releases launched for you in 2022. In the true spirit of Christmas, sing along with a few of our Canopians here while browsing through more detailed information about these 12 game-changing features.

Gaming 98
article thumbnail

Guide to Business Writing

Everything you need to know about better business writing in one place. This is a complete guide to business writing — from a clear business writing definition to tips on how to hone your business writing skills.

article thumbnail

Guess How Much the End-of-Year Staff Bonus Was at CliftonLarsonAllen For 2022?

Going Concern

If you said $2,022, you ’d be correct! A tipster from CliftonLarsonAllen told us on Monday, “$2,022 is how much the gift was to all employees. Very pleased with it. It was a complete surprise and appreciated by a lot of my colleagues. Especially with some other firms not giving out anything with a potential recession looming, it was well-received in my opinion.

109
109
article thumbnail

Forbes Names Anders One of America’s Best Tax and Accounting Firms

Anders CPA

For the fourth year in a row, Anders has been named to Forbes’ America’s Best Tax and Accounting Firms List for 2023. With thousands of firms recommended in tax and accounting, Anders is one of 160 firms in the country to be named on both lists. Anders is also one of only four firms headquartered in Missouri and one of two in St. Louis to make both lists.

article thumbnail

More News from QuickBooks Connect – QBO-Advanced Project Enhancements

Intuitive Accountant

Murph continues to summarize several enhancements from 'QuickBooks Connect 2022' for QuickBooks Online-Advanced. Check out the new profitability-centered features and reports recently introduced for improved project tracking.

article thumbnail

What is a WISP for Accounting and How To Get One | Canopy

Canopy Accounting

In accounting, WISP stands for Written Information Security Plan. A WISP is a document that accountants are required by law to create. A WISP is your strategy or game plan for keeping your client’s personal and financial information safe. If you get paid to do someone’s accounting, then yes! You’re going to need a WISP.

account 96
article thumbnail

Finding “The One:” The Ultimate Guide to Selecting Financial Software

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

As finance and accounting practitioners, you are expected to complete daily operations as well as to manage next generation tools and resources to support a business that is growing in complexity. Having the right software can be critical in juggling and meeting those high expectations. The path to the right software, however, is paved with challenging decisions.

article thumbnail

Deloitte UK Got a 27.5% Discount on Audit Fines For Admitting They Screwed Up

Going Concern

That sound you hear? It’s KPMG leadership breathing a heavy sigh of relief for not being the name attached to audit failure headlines this week. Our lucky winner today is Deloitte. The Financial Reporting Council has fined Deloitte UK more than £900,000 (a cool $1,081,444 Federal Reserve notes) over its shoddy audit work for building materials supplier SIG.

audit 104
article thumbnail

Happy Holidays from AccountingDepartment.com!

AccountingDepartment

Co-founders Dennis and Bill recorded their annual holiday message to clients, sharing their views on the past year as well as what they're planning for the future! (and maybe a few bloopers to enjoy at the end).

91
article thumbnail

QuickBooks Desktop 2021 Release 12 (R12) Update

Intuitive Accountant

Happy, happy holidays. Intuit has given you a present in the form of another release update to QuickBooks Desktop just in time for 'old man winter' to arrive.

article thumbnail

Government announces phased mandation of Making Tax Digital for ITSA

Accounting Insight

Self-employed individuals and landlords will have more time to prepare for Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA), following a government announcement today (19 December 2022). Understanding that self-employed individuals and landlords are currently facing a challenging economic environment, and the transition to MTD for ITSA represents a significant change to taxpayers and HMRC for how self-employment and property income is reported, the government is giving a longer per

article thumbnail

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.

article thumbnail

How a Board of Directors Should Respond to a Crisis

GrowthForceBlog

9 min read. When most nonprofit missions are focused on dealing with crises that are occurring every moment of every day, nonprofit leaders can easily lose sight of crisis response planning and strategic crisis management for the potential crises that could occur in the future. Key Takeaways. The Role and Responsibility of an NFP Board of Directors During a Crisis: In a nonprofit, the board of directors' overall role and responsibility is that of high-level oversight, and this includes the overs

account 82
article thumbnail

Business Budgeting Software Guide: Budgeting Software for Small to Enterprise Business

Snyder

Business budgeting is an integral part of running a business. A recent study analyzing startup failures showed running out of cash as one of the top reasons for them to crumble. In light of this, business budgeting looks like something not to ignore. Still, nearly half of small businesses don’t embrace formal budgets for various reasons: from a vague idea about how to put one together to the time investment is required and lack of awareness of how it can help the business.

article thumbnail

AICPA Expresses ‘Deep Concerns’ Regarding Form 1099-K Reporting Threshold

Intuitive Accountant

The Association recommends the section 6050W(e) de minimis exception for reporting be cost-of-living adjusted4 (COLA) using 1954 as the base period for the $600 COLA.

98
article thumbnail

Reclaiming Your Time And Switching Off During The Holidays

Randal DeHart

Small construction company owners like you already have a time-consuming and challenging job running your business. If you're working on weekdays, you usually need the weekend to catch up on paperwork, pay bills, and manage any tasks you didn't get to during the week. But this weekend is Christmas, and with it comes time to relax, focus on family and friends and take stock of what is essential in life.

article thumbnail

2024 Payroll Calendar Templates

These calendars provide pay period dates and paydays for biweekly, semi-monthly, and monthly payroll in 2024. Use them as a reminder or share with employees so they can celebrate payday.