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AP Automation Expert Rhonda Greene on Year-End Closing Best Practices

AvidXchange

Let your company know when the AP deadlines for entry and accrual are and make your life easier. Do you have any advice for master vendor file cleanup, 1099 maintenance, or accruals and thresholds? As for accruals, you just have to make sure that everything’s accounted for. Let’s talk year-end closing best practices.

AP 40
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Interview: Year-End Best Practices in a Paper-Based Process with Bill Schiffli

AvidXchange

Roll forward fixed assets: prepaid, expense accruals, etc. The process goes something like this: Gather end of month documents: bank statements, final expense reports, open invoices, etc. Perform reconciliations: bank, credit card, inventory, etc.

Billing 52
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Intuit Launches QuickBooks Cash

Cloud Accounting Podcast

There's a form called Form 3115, which you file with your income tax return to change your accounting method from cash to accrual, vice versa. That was a really nicely done virtual conference presentation on Zoom, sort of like a webinar on steroids.

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What Accountants Can Learn from Apple's $19 Polishing Cloth

Cloud Accounting Podcast

Check out his podcast, Digi-Tools in Accrual World! [link] 10:15 – Scaling New Heights 2022: Thrive [link] 11:13 – Parker Conrad’s Rippling is now valued at $6.5 link] 58:49 – Man spent $57,789 in coronavirus relief aid on a Pokémon card, feds say [link] Get in Touch Thanks for listening and for the great reviews! We appreciate you!

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Macy's Thanksgiving Accounting Mystery

Cloud Accounting Podcast

Blake and David examine the mysteries and motives surrounding the recent Macy's accounting scandal, where a single employee allegedly concealed $132-154 million through improper accrual entries. Let the listeners of The Accounting Podcast know by running a classified ad.

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Earnings Before Interest, Taxes, Depreciation, Amortization, and Coronavirus

Cloud Accounting Podcast

Then, drive them to your sales channel; do a webinar, a mass email. [00:29:43] The nice thing is he gets into a little bit about the fears and answers questions - I feel bad for billing for anything; I'm afraid I'll overcommit myself; I don't have confidence in my technical skills to do a webinar; what will I do if they extend the PPP?

Tax 40
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ScaleFactor Fails to Scale, Blames COVID-19

Cloud Accounting Podcast

They'll do cash, or accrual accounting. They're not gonna charge you $500 a month if you're a $10 million-a-year business. [00:11:41] They also have accrual accounting, but it's pretty much similar, other than that. They will do your bill pay powered by Bill.com. Then, the bigger you are, the more they're gonna charge you.