AvidXchange

DECEMBER 20, 2024

The 1099-NEC form replaced a section ofthe 1099-MISCform in 2020 for non-employee compensation, according to TurboTax. Audit Preparation AP automation can offer a digital audit trail of payments, providing easy access to records in case of an audit. What is the 1099-NEC Form?

AP 52

AP Data Entry Accounts Payable Accounts Payable 52

Nanonets

JANUARY 1, 2024

In this blog, we'll delve into what invoice audits entail and why they are crucial for the financial integrity of businesses. What is an Accounts Payable Audit?    An Account Payable Audit is a process by which the financial records of the accounts payable department are examined by an auditor.

Invoicing 52

Invoicing Auditing Purchase Order AP 52

IMA's Count Me

MARCH 15, 2020

Alessia joined Count Me In to talk about how and why 2020 is the year of ESG data. 2020 is truly the year of data for ESG. I can assure you that at NACD there has been a strong push to elevate directors’ skills – certainly those sitting in audit committees – to see the relevant disruptions.

Financial Reporting 40

Financial Reporting Auditing Collections Corporate Finance 40

Blake Oliver

SEPTEMBER 24, 2024

They fined the company a record 441 million yuan ($62 million) for audit failures related to Evergrande—the most significant penalty ever for a Big Four accounting firm in China. For years, PwC, Evergrande's auditor, "turned a blind eye" and even tolerated fraudulent activities during audits in 2019 and 2020.

Auditing 52

Auditing Accounting Accounting 52

Cloud Accounting Podcast

NOVEMBER 24, 2020

Then we'll dig into PPP news, with talks about how the IRS plans to increase audits on small businesses by 50% — and how that's a joke based on the latest numbers. In other news, we'll examine some of the top challenges of accounting firms in 2020, and ponder why over a third of Americans won't move to rural areas due to slow internet speeds.

Auditing 40

Auditing QuickBooks XERO Tax 40

Nanonets

MAY 22, 2023

Ted Baker, the high street fashion retailer, had to close several stores and restructure itself after a £58m accounting error in January 2020. Setting up regular financial audits Regular financial audits are essential for ensuring that the financial controls in place are working as intended.

Budgeting 98

Budgeting Invoicing Auditing Financial Operations 98

Counto

JANUARY 17, 2024

EDG applications from April 1, 2020, onwards require commitments to improve worker outcomes like job creation, wage increment, job re-design, or staff training. Companies should have a reasonable turnover over the past three years, with audited accounts required during the grant application. Are there KPIs for an EDG project?

Financial Statements 52

Financial Statements Auditing Billing Accounting 52

Cloud Accounting Podcast

MARCH 2, 2020

Finance 12:58 Intuit confirms that it is buying Credit Karma for $7.1B Finance 12:58 Intuit confirms that it is buying Credit Karma for $7.1B Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus , and NOW, you can see our smiling faces on Instagram ! Meet Blake and David in person!

Accounting 40

Accounting Accounting QuickBooks Bookkeeping 40

Cloud Accounting Podcast

MARCH 8, 2020

May 31 - June 3, 2020: BQE Succeed - Encore at Wynn Las Vegas Need Accounting Conference Info? What's more, we examine Deloitte's new VR platform, why QuickBooks Connect London is cancelled, and how the IRS expects to audit more wealthy taxpayers. Interested in sponsoring the Cloud Accounting Podcast? Meet Blake and David in person!

Accounting 40

Accounting Accounting QuickBooks Auditing 40

Cloud Accounting Podcast

DECEMBER 15, 2020

Full Transcript Available Upon Request - info@cloudaccountingpodcast.com Today, some of our loyal listeners take us to school about where we've missed the mark on things like audit, tax, and our favorite subject - the Paycheck Protection Program, and more.

XERO 40

XERO Auditing Tax Accounting 40

Atlassian

FEBRUARY 14, 2022

Cybercrime has dramatically increased during the pandemic, with businesses suffering 50% more cyberattack attempts per week in 2021 compared with 2020. access to audit and oversee capabilities to ensure they have the information they need to do their own risk assessments.

Financial Services 74

Financial Services Auditing 74

Nanonets

MAY 31, 2023

billion in 2020 globally. billion in 2027, marking a 25% rise compared to 2020. Companies may also incur expenses related to potential restitution, program reviews, audits, and retrofitting or redesigning of processes and systems. Payment fraud has tripled from $9.84 billion in 2011 to $32.39

Data Entry 52

Data Entry Auditing Computation Purchase Order 52

AvidXchange

SEPTEMBER 24, 2020

Forty-two percent of CFOs spent as much as half their time in a “strategist role,” according to May 2020 survey results from Grant Thornton, an audit, tax and advisory company. That’s a 13 percentage point jump from only four months earlier, February 2020.

Auditing 40

Auditing Tax 40

MineralTree

DECEMBER 15, 2022

Tiresome, Expensive Audits. Without AP automation to centralize all of the invoices and related documents, audits are a nightmare for AP teams that must physically sort through stacks of paper to find the docs they need. In 2020, over 80% of companies noted that they were targets of an actual or attempted fraud attack.

Accounts Payable 52

Accounts Payable Accounts Payable AP Accounting 52

Cloud Accounting Podcast

JUNE 16, 2019

16:12 — Trust begets opportunity for accountants in assurance | Accounting Today — Susan Coffey, executive vice president of the Association of International Certified Professional Accountants, says that analytics have the capacity to one day eliminate the need for human-verified audits. explored this question earlier this month.

CPA 40

CPA XERO Bookkeeping Services Accounting 40

Cloud Accounting Podcast

DECEMBER 9, 2020

Over Audit Dispute [link] 34:30 - Stripe Treasury: Banking-as-a-service for platforms [link] 40:20 - Intuit launches assisted tax prep [link] 43:33 - Facebook acquires Kustomer, a CRM start-up [link] 46:57 - A Review!

QuickBooks 40

QuickBooks Auditing Tax Accounting 40

Nanonets

APRIL 14, 2023

In this article, we'll look at how you can use ChatGPT in accounting to help simplify tedious tasks, generate financial projections quickly, create accurate audit reports, assist with invoice processing and expenses, and manage client communications effectively. While necessary, audits may be a significant drain on resources.

Data Entry 52

Data Entry Financial Reporting Accounting Accounting 52

Cloud Accounting Podcast

DECEMBER 14, 2018

Universal income vs. the robots: Meet the presidential candidate fighting automation — MIT Technology Review — Andrew Yang announced he is vying for the 2020 Democratic presidential nomination back in February. His mission? Preparing America for automation.

QuickBooks 40

QuickBooks Cloud Bookkeeping Bookkeeping Auditing 40

Cloud Accounting Podcast

FEBRUARY 24, 2020

33:52 – Weakening the oversight of US auditing is a very bad idea – Financial Times Without an Independent Watchdog, Who Will Audit the Auditors? - Consider Some Numeric Body Art – CFO.com 32:14 – Tweet us your (accounting-related?) tatts 33:16 – Go here for more PCAOB discussion! Interested in sponsoring the Cloud Accounting Podcast?

QuickBooks 40

QuickBooks Bookkeeping Auditing Tax 40

NextProcess

JANUARY 19, 2023

3) Improve Reconciliation and Audits With NextProcess’s T&E system, complete transparency of reimbursement policy and processing makes for easier audits. Electronic expense reporting happens with audit requirements programmatically enforced.

Expense Reports 52

Expense Reports Collections Budgeting Auditing 52

AvidXchange

AUGUST 8, 2022

million nonprofit jobs lost in 2020 still haven't been recovered SOURCE: The NonProfit Times Investing in modern technology such as AP automation can help create more efficient workflows while decreasing the chances of human error, especially when staff turnover is high. Nearly every aspect of nonprofits is touched by the finance department.

AP 52

AP Reconciling AR Accounts Payable 52

CapActix

AUGUST 27, 2024

Misunderstanding the 1099 MISC vs 1099 NEC form can lead to errors, potential audits, and costly penalties from the IRS. The IRS reintroduced this form in 2020 to report non-employee compensation separately. Before 2020, businesses used the 1099 MISC form for both non-employee compensation and miscellaneous income.

Tax 40

Tax Auditing Record Keeping Financial Records 40

IMA's Count Me

FEBRUARY 28, 2020

Contact Kelly: [link] Pink Collar Crime site: [link] IMA's Annual Conference & Expo 2020: [link] IMA's website: [link] FULL EPISODE TRANSCRIPT Mitch : (00:00) Welcome back to Count Me In, IMA's podcast about all things affecting the accounting and finance world. So that's what I say, a parking lot audit lifestyle audit.

Auditing 40

Auditing Accounts Payable Accounts Payable CPA 40

AvidXchange

SEPTEMBER 21, 2021

AP automation solutions empower your hybrid workforce Since early 2020, unprecedented numbers of employees have worked remotely all or most of the time. That’s down from the 51 percent who said they were hit in 2020, but there’s more to the story. 3 Ways AP Automation Helps Protect Your Business 1.

AP 52

AP Invoicing Computation Billing 52

AvidXchange

MAY 26, 2022

At the start of 2020, two owners of a Florida property management company, Tracy and John, grappled with inaccurate payments. Do regular audits of the file’s data to ensure accuracy. The company, Incurrent Holdings , paid vendors multiple times for the same service and for services not provided. In some cases, they paid suppliers late.

AP 52

AP Data Entry Purchase Order Invoicing 52

Cloud Accounting Podcast

JULY 1, 2019

07:23 - Scaling New Heights 2020 will be in St. Sponsors FloQast: [link] AutoEntry: [link] Show Notes 00:58 - Welcome to the Cloud Accounting Podcast! 01:45 - We got more reviews! Click here to leave a review on iTunes.

CPA 40

CPA QuickBooks XERO Bookkeeping 40

Invoicera

APRIL 10, 2024

Moreover, proper invoicing practices are highly crucial during tax audits. Discrepancies can trigger further scrutiny, penalties, or audits, which will only cost your business dearly. It’s a high necessity for financial auditing, legal verification, and historical analysis. That includes paper, electronic, or both versions.

Invoicing 52

Invoicing Tax Record Keeping Invoice Processing 52

Cloud Accounting Podcast

OCTOBER 21, 2020

Full Transcript Available Upon Request - info@cloudaccountingpodcast.com We're celebrating the passing of the final official tax deadline of 2020 with a huge slew of news! Hit the show notes for the link to get more info and be sure to check out our special stimulus pricing of four episodes for just $100.

CPA 40

CPA QuickBooks Billing Auditing 40

Counto

JANUARY 8, 2024

The Overseas Vendor Registration (OVR) regime mandates the charging of GST on digital services since January 1, 2020. Some applications may undergo an audit review, which involves a thorough assessment of your business operations and liability to register. Do I need to register for GST?

Collections 52

Collections Tax Auditing Invoicing 52

AvidXchange

FEBRUARY 11, 2022

Since 2020, many banks and credit unions have begun to more readily embrace modernization to reap its benefits. Many of the requests AP fields — from the FDIC, the state, internal compliance departments, and slews of others — relate to audit procedures and compliance issues.

Financial Services 52

Financial Services Accounts Payable Accounts Payable AP 52

Gaviti

MARCH 10, 2024

According to the American Institute of Certified Public Accountants (AICPA) , the vast majority of accountants were eligible for retirement in 2020. Maintain comprehensive document management for a complete history of payments and records for future analysis or audits. First, many have simply retired. Contact us for a demo today.

Accounting 52

Accounting Accounting Account Receivables Accounts Receivable 52

Counto

MAY 29, 2023

Form C-S Lite is the simplest corporate income tax form, first introduced by IRAS in 2020. Usually, businesses that fill out Form C are required to declare essential tax and financial details like tax computation as well as to submit supporting documents like audited accounts.

Corporation Tax 52

Corporation Tax Tax Bookkeeping Services Financial Statements 52

Nanonets

MAY 11, 2023

The invoice and payment details are archived in the GL for future audits. Missed invoices lead to delayed payments and associated penalties, strained vendor relationships, delays in operation, and audit issues.  This can lead to accrued liabilities over time, escalating pressure at audit periods, and non-compliance.

Invoice Processing 52

Invoice Processing Invoicing AP Accounts Payable 52

IMA's Count Me

FEBRUARY 6, 2022

The global pandemic in 2020 and 2021 has shifted how finance and accounting professionals work in a virtual environment. And even when you're talking about accuracy of data it does make me think of the auditor who is trying to audit all of your books and all of those things.

Auditing 40

Auditing Budgeting AR Accounting 40

Remote Quality Bookkeeping

MARCH 25, 2024

By 2020, AI was projected to eliminate or automate up to 40% of basic accounting work. Regular audits and compliance checks can mitigate regulatory risks. For small businesses, this upheaval signifies potential savings on operational costs and increased accuracy, resulting from minimized errors in financial reporting.

Small Business Bookkeeping 52

Small Business Bookkeeping Bookkeeping Accounting Accounting 52

Nanonets

FEBRUARY 14, 2024

Reduce Risk of Fraud and Achieve Audit-Readiness : The granularity provided by GL codes offers an invaluable layer of security for businesses. Regular Audits: Conduct regular audits of transactions to ensure GL codes are being used correctly. Ensure that the details of the transaction align with the GL code's description.

General Ledger 52

General Ledger Accounts Payable Accounts Payable Accounting Software 52

AvidXchange

JULY 21, 2021

And don’t forget to include costs for audit fees, lost supplier discounts, mailing and printing, payment mistakes and equipment. Along those same lines, an IOFM and AvidXchange report found companies processed 66 percent of invoices electronically in 2020. Be sure to view the results through the proper lens.

Accounts Payable 52

Accounts Payable Accounts Payable AP Invoicing 52