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Accounting Software For Nonprofits 2022: What To Look For

Accounting Seed

Constrained by limited time and resources, nonprofit organizations need customizable accounting software to boost productivity and increase accountability. Reputation is sacrosanct for nonprofit organizations, with donors increasingly demanding full transparency and accountability.

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Mutual Fund Buy-Sell Tax Pitfalls

RogerRossmeisl

If you invest in mutual funds, be aware of some potential mutual fund buy-sell tax pitfalls that can surprise the unwary. Surprise sales You may already have made taxable “sales” of part of your mutual fund investment without knowing it. One way this can happen is if your mutual fund allows you to write checks against your fund investment. Every time you write a check against your mutual fund account, you’ve made a partial sale of your interest in the fund.

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Interesting Niches under a COVID Cloud

BuildYourFirm

Given this evolution during the COVID cloud, below are some niches we are seeing accountants starting to capitalize on. Accounting for Cyber Security and Technology. Accounting for Digital Media (YouTube, Amazon FBA, Bloggers, eCommerce businesses). Accounting for Hedge Funds.

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How Salesforce Native Apps Work Together to Provide Data in Real-time

Accounting Seed

Salesforce native accounting gives your company real-time data views that can quickly spotlight opportunities to grow revenue and lower costs.But what does “Salesforce native” mean? Why Use Accounting S eed For Accounting Needs. Accounting Seed Benefits.

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The golden rules to avoid a massive tax bill as a sole trader

Reckon

All you need is a few software tools…and two separate business bank accounts! (A 2) Create separate business and personal bank accounts. Before we look at avoiding a tax bill, follow one golden rule: Never use your personal accounts. Always use business bank accounts.

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What Is A Salesforce Dynamic Dashboard? Everything To Know 2022

Accounting Seed

You can ask your Salesforce account executive about increasing the limit in the Enterprise, Performance, and Unlimited editions as a paid feature. Top Financial Dashboards Available With Salesforce Accounting Software. Request a demo of Accounting Seed today.

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5 internal controls you should have implemented yesterday

DMCL

internal controls are mechanisms to identify, control, and reduce the risks to your business which may arise from a failure to comply properly with laws, regulations and best practices in your accounting and financial reporting.

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Salesforce B2B Commerce: Everything to Know

Accounting Seed

The Salesforce B2B ecommerce platform is designed to suit the complex B2B buying journey, including negotiated pricing, account-specific terms and conditions, and discounts, to give your business customers a superior online buying experience. Top 7 Issues Accountants Face Today.

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

Snyder

Static budget – the most basic type of budget that takes into account only fixed expenses – the ones that don’t depend on production or sales volumes. Scale for growth and give you an advantage when looking for funding from a bank or a potential investor.

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Best Enterprise Accounting Software

inDinero

With reliable enterprise accounting software, businesses can have up-to-date information about their finances in real-time. What is Enterprise Accounting Software? The benefits of implementing an enterprise accounting software include: Cost savings. Accounting

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SoftBank Ventures Asia Notches $270M To Fund Startups

PYMNTS

The new fund of SoftBank Ventures Asia will invest globally in early-stage startups, with Asia being the cornerstone, Reuters reported Friday (July 19). SoftBank Ventures Asia indicated the new fund will close in the next six months. Although the company’s Saudi-backed $100 billion Vision Fund dominates funding for late-stage startups, the group launched a $5 billion Latin American-focused fund in March with $1 billion earmarked for the delivery app Rappi.

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Ripple Plans MoneyGram Investment Of Up To $50M

PYMNTS

Through the terms of the pact at the time, MoneyGram would let people “safely and efficiently send cross-border payments to friends, families and business partners,” noting that the “current model for these payments requires money transfer companies to use pre-funded accounts across the globe to source liquidity. In what could be one of the first investments by a crypto-based firm in a major U.S. firm that is publicly traded, Ripple Inc.

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Ripple Hits Customer Milestone, Eyes X-Border Payments Disruption

PYMNTS

Ripple said that using XRP for liquidity when sending a cross-border payment helps financial firms avoid the need to pre-fund accounts in the destination currencies and enables them to make faster and cheaper payments. “In Ripple, the blockchain company that has the XRP digital currency, reached a milestone on Tuesday (Jan. 8) by reaching 200 customers.

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Grab Backs UK Startup Splyt Technologies

PYMNTS

billion in a round of funding led by SoftBank’s Vision Fund. Grab said SoftBank’s Vision Fund accounted for a third of the investment, according to reports in March. Grab President Ming Maa said the company is still receiving a lot of interest from investors and could take on more funding this year. Investments Asia funding Grab investments News partnerships ridehailing Splyt Technologies What's Hot

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RTP Picks Up Pace With Corporates, While CBDCs Raise Banker Doubts

PYMNTS

The bank, based in Vermont, said the adoption of RTP is part of its commitment to connect its business and consumer clients to “the most modern payments infrastructure in the world,” with the adoption allowing corporates and individuals to access funds sent from around the world in near real time.

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Kittrell Payroll Cards Offer Access To Wages Before Payday

PYMNTS

Kittrell Paycard, a provider of payroll card solutions, is integrating a solution for employees to receive funds more quickly. Funds are provided to the employer to pass onto the payroll cards, Kittrell explained. Fees associated with the solution are charged via the employer’s InstantWage Master Funding Account. A press release by Kittrell Paycard partner Cardplatforms on Tuesday (March 27) said Kittrell is integrating InstantWage on all of its payroll cards.

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Grab Raises $4.5 Billion Led By Softbank’s Vision Fund

PYMNTS

billion in a round of funding led by SoftBank ‘s Vision Fund. According to a report in The Financial Times, Grab said SoftBank’s Vision Fund accounted for a third of the investment. Of the funding, $1.5 billion comes from the Vision Fund. The company’s president, Ming Maa, said the company is still receiving a lot of interest from investors and could take on more funding this year.

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Grab Reportedly Considered Acquiring 2C2P Pte

PYMNTS

billion in a round of funding led by SoftBank’ s Vision Fund per news in March. Grab said SoftBank’s Vision Fund accounted for a third of the investment, according to a report in The Financial Times. Of the funding, $1.5 billion comes from the Vision Fund. Ming Maa, the company’s president, said the firm is still receiving a lot of interest from investors and could take on more funding this year.

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The ePayments Way To Compliance

PYMNTS

“The risk exposure varies greatly,” the senior manager of fund accounting strategy for Abila told PYMNTS. For example, when a donor provides funds to a nonprofit , the company must be able to record information like where the funds originated, and there are requirements or restrictions on how the firm can use that money. When the nonprofit makes a payment using those funds, similar information must be recorded.

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Ant Financial Offers Face Scan Service For Package Pickup In China

PYMNTS

Ant Financial has been experimenting with facial recognition technology in different areas, including activating Ant Check Later, a consumer credit service that allows citizens in Shanghai, Hangzhou and Shenzhen to check their housing fund accounts and file taxes by scanning their faces.

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Wells Fargo CEO Says Cost Controls Are Improving At The Bank

PYMNTS

12) that the company is improving its cost controls in relation to revenue as it claws its way out of its fake account scandal. Speaking during an investor conference hosted by Barclays and covered by Reuters , Sloan said expenses should account for 60 to 61 percent of revenues in the second half of this year, which is down a bit from the past three quarters. In some of the Wells Fargo scandal cases, the actions occurred after customers’ accounts were breached.

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Australian Small Business Retirement Payments Stuck By System Glitch

PYMNTS

An estimated 19,000 transactions by small businesses, which are a more tax-efficient way for employees to build up retirement savings, were stuck in the “waiting for payment” mode, reports said, while some employers said the initiated payments never actually landed in employee super accounts. The publication spoke with Tony Greco, general manager of technical policy at the Institute of Public Accountants, who said small businesses and their accountants are concerned about the issue. “We

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Investors Haven’t Forgotten About Alternative SMB Finance

PYMNTS

This week, alternative finance companies raised more than $77 million in venture capital funding, accounting for nearly 70 percent of total funds raised by B2B FinTech startups this week. million in new funding this week, $11.8 The company reportedly raised $47 million in funding this week — funds that will go toward helping the business expand into new markets across Latin America and Europe as it positions itself against top rivals PayPal and Square.

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What’s Behind SoftBank’s Tech Investment Moves?

PYMNTS

SoftBank broke big news on Friday (May 3): SoftBank Group is reportedly mulling an initial public offering (IPO) of its $100 billion Vision Fund. The possible IPO of the Vision Fund will take place after the vehicle is fully invested, and might result in a creation of a publicly-listed company similar to Berkshire Hathaway (and of course accessible to retail investors, now able to ostensibly act as venture capital investors) with a decidedly tech company focus. Of the funding, $1.5

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Cybersecurity Squashes B2B Startup Funding Competition

PYMNTS

The industry landed $90 million in funding, accounting for four out of the 10 funding rounds announced by B2B startups. California’s Drip Capital secured $15 million in Series A funding this week in a round led by Accel Partners, Sequoia Capital India and Wing VC, according to VCCircle reports. Drip said it will use the funds raised to scale up and enter new markets.

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MoneyGram CEO Plans Waves With Ripple  

PYMNTS

company across dozens of currencies requires constant revaluation and monitoring of balances tied to those currency holdings, settling them back to dollar and pound sterling and euro-denominated accounts, Holmes explained. In many cases, pre-funding accounts is necessary in some countries where banks are not open on the weekends.

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Regulatory Changes To Push Nonprofits Towards FinTech

PYMNTS

The emergence of B2B payments technologies, like virtual cards and accounting automation, can surely benefit any organization. The risk exposure varies greatly,” the firm’s senior manager of fund accounting strategy, Dan Murphy, explained. “It We expect to continue to see greater interest in cloud-based accounting solutions and paperless documentation as grantors and stakeholders expect more transparency,” Abila said.

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