article thumbnail

Why Your Accounting/ERP System Is the Key To Successful Business Tax Preparation 

Withum

Inter-company and Transfer Pricing Transactions ; distinguishing entries between related entities or groups for proper reporting on consolidated tax returns. Help is a phone call/email away to work alongside our ERP and tax preparation specialists. Lessen the external auditor’s (e.g., Contact Us Good News!

article thumbnail

Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

In that capacity, Urban was responsible for maintaining the company’s general ledger, preparing financial statements, and reconciling the company’s accounts payable and receivable and bank statements. Both women are in their 30s, and both had been going to Flinchum for at least three years for tax preparation.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Best Practices for Nonprofits

Withum

Many nonprofit organizations have limited resources and often the finance team also supports the general operations. The accounting system is the basis for reports that must be provided to grant agencies, prospective donors, lenders, its independent auditors, tax preparers, the Board of directors and management. .

article thumbnail

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

Snyder

Among the primary functions of accounting are to prepare and analyze: Financial audits Forecasting Financial planning and long-term budgeting Tax returns Performance optimization. Many businesses might only need to hire a bookkeeper and invest in an accountant for tax preparation services during the tax season.

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. If you’re looking to automate accounting processes in 2023, here are some steps you can take: 1) General Ledger Accounting Software.

article thumbnail

How to Avoid Mistakes in Accounting: 5 Common Accounting Mistakes

Snyder

Whether an error results in underpaying or overpaying on taxes, your business experiences unnecessary losses. But there’s definitely a potential for improvement, as filing taxes and getting tax returns can be streamlined with the right accounting software and professional help from experienced accountants.

Account 52
article thumbnail

The Best Staff Accountant Job Description Template

Ryan Lazanis

Specify the desired number of years of experience and any specific areas such as financial reporting or tax preparation. Applicants who stay up-to-date with accounting regulations, tax laws, and industry-specific compliance should be given more priority 4.