Remove general ledger Remove Maine Remove Tax Remove tax return
article thumbnail

Top Tips to Prepare for an eCommerce Audit

TaxConnex

more than one in four (26.7%) top finance professionals reported seeing an increase in state sales tax audits in the past two years. Almost half (48.5%) of respondents expect sales tax audits to become more frequent in 2022-23, and nearly one in five (18.5%) cited an audit as one of their chief worries for this year. market survey ,?more

audit 184
article thumbnail

Latest product news — July 2022

Xero

Our teams have been busy adding lots of value across our platform over the past month, including enhancements to Hubdoc, short-term cash flow, tax updates in the UK and more. A new layout for the main forms in Xero Tax (Australia only) has been introduced to improve the way you find, navigate and add information. Personal tax.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Accounting Basics for Small Business: A Simple Guide

Snyder

Get to know small business tax obligations and procedures. In general, business accounting is the process of organizing and analyzing a company’s financial information to plan and advise on taxes, file tax returns, make forecasts, and help with data-driven financial decision making.

article thumbnail

Bookkeeping vs. Accounting: What’s the Difference Between Bookkeepers and Accountants?

Snyder

Both bookkeepers and accountants work with your finances, both help make your tax reporting a smooth experience. An accountant will analyze this data, do reporting, give you financial advice, and offer you tax processing services. They prepare all reports necessary to file taxes in a timely manner. How to choose a bookkeeper?

article thumbnail

Accounting Automation: The Definitive 2023 Guide

Ryan Lazanis

A report by Oxford University concluded that there was a 99% chance that tax preparers’ jobs would be automated and a 98% chance that it will happen to bookkeepers and accountants. Let’s now briefly outline the main benefits of automated accounting: 1) Time Savings. Will Accounting Automation be Enough to Replace You? Over to You.

article thumbnail

How to Avoid Mistakes in Accounting: 5 Common Accounting Mistakes

Snyder

Accounting errors and mistakes in taxes. Clutch report states that 95% of small businesses are confident in the accuracy of their financial statements, and 30% of business owners also believe that they’re overpaying taxes. Whether an error results in underpaying or overpaying on taxes, your business experiences unnecessary losses.

Account 52
article thumbnail

Basic Accounting for a Small Business: Bookkeeping and Accounting Basics

Snyder

Accounting for a small business usually means summarizing and analyzing financial transactions, producing accounting reports, and timely providing data for tax purposes and tax returns. We spoke about cash basis and accrual basis accounting when discussing 3 main financial statements. What is accounting?