Wed.Jun 05, 2024

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IRS tries to use AI to close tax gap

Accounting Today

The Internal Revenue Service is turning to artificial intelligence to help select tax returns to audit and narrow the tax gap, but it needs to use this new technology consistently and transparently, according to a new government report.

Tax 334
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What are the KPIs in Accounts Payable for Health and How to Improve Them

Fidesic blog

Healthcare accounting is often complex. Healthcare accounting is often managed by health support organizations or management offices that handle tons of vendors across geographies. This can create pretty complex back-office processes. This includes super complex invoice processing requirements.

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Many nonprofits missed filing deadline

Accounting Today

Between inflation and reduced contributions, charities and not-for-profits are being squeezed, and even though millions of them are tax-exempt, a lot of them need extra help and time to file their Form 990 with the IRS.

Tax 317
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5 Minutes to Set Up - Invoice Data Capture for Business Central

Fidesic blog

Get started in minutes with invoice data capture. Fidesic MagiCapture for Business Central is easy to install. Still entering invoice data manually? A better process is only 5 minutes away.

Invoicing 130
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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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NPAG: All hands on deck to solve the pipeline problem

Accounting Today

Restocking the accounting profession's talent pipeline is everyone's responsibility, says the National Pipeline Advisory Group.

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Jun 5, Learn How To Use QuickBooks | Learning QuickBooks

Bookkeeping Essentials

Learning how to use QuickBooks to create & customize reports such as cheques issued, customer deposits, holdbacks will help you make sound business decisions.

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Nancy McClelland's Biggest Takeaways of Scaling New Heights 2023

Insightful Accountant

Gear up for Scaling New Heights 2024 by taking a look at Nancy's takeaways from last year's Scaling New Heights.

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Weather victims in Massachusetts get tax relief

Accounting Today

The IRS is pushing back filing and payment deadlines for those impacted by last September's storms and flooding.

Tax 195
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Intuit to offer Account Management program for QuickBooks customers

Insightful Accountant

Intuit has selected customers who display complexity for this new program and you need to be aware of this offering because some of those customers may also be your clients.

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Governance and leadership dynamics in accounting firms need scrutiny

Accounting Today

The shift of public accounting firms, traditionally focused on providing auditing and tax services, into expansive multidisciplinary firms has long raised concerns among investors and regulators.

Auditing 189
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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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Tax Professionals' Guide to Assisting Freelance Clients

Insightful Accountant

Post-COVID, the freelance economy is booming. Tax pros face challenges managing a mix of employees and contractors. Clients seek help with self-employment taxes, offering growth opportunities for tax professionals.

Tax 59
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SEC hedge fund fee disclosure rule struck down by US court

Accounting Today

The U.S. Fifth Circuit Court of Appeals in New Orleans sided with the private funds industry, which argued that the agency overstepped its authority.

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Be Insightful at Scaling New Heights: Unveiling Exclusive Perks at Insightful Accountant's Booth

Insightful Accountant

Join us at the Scaling New Heights conference for exclusive offers, insightful resources, and more at the Insightful Accountant booth! Elevate your practice to new heights with us.

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Spanish court grants 'Bitcoin Jesus' bail in extradition fight

Accounting Today

A crypto investor known as "Bitcoin Jesus" has been released on bail in Spain, where he faces extradition to the U.S. on tax fraud charges.

Tax 189
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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Mastering Financial Management: Essential Bookkeeping Strategies for Small Business Success

Less Accounting

In the complex and fast-paced world of entrepreneurship, mastering the art of bookkeeping is not just a necessity—it’s a strategic advantage that can significantly determine the success of a small business. Effective financial management enables business owners to make informed decisions, maintain compliance with regulations, and optimize their operations.

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NYC congestion pricing risks delay after Hochul weighs pause

Accounting Today

New York Governor Kathy Hochul is considering delaying a plan to charge motorists driving into midtown Manhattan and potentially replacing it with a tax on New York City businesses.

Tax 182
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Jun 5, Learn How To Use QuickBooks Desktop | Learning QuickBooks

Bookkeeping Essentials

Learn how to use QuickBooks desktop to create & customize reports like top customers, customer deposits, holdbacks will help you make sound business decisions.

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Private sector hiring and pay growth slowed in May

Accounting Today

The jobs market showed signs of a slowdown last month as the private sector added 152,000 jobs in May, while annual pay grew 5.0 percent year-over-year, ADP reported.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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Tired of Scattered Systems and Missed Opportunities? Streamline Your Accounting Firm with Cajabra

Insightful Accountant

If you're an accountant longing for a simpler, more automated solution, look no further than Cajabra, the all-in-one CRM designed specifically for your needs.

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New Service Idea: Time-Saving Accounting Audit

Future Firm

Most firms struggle to show how they can save clients time. In this episode, I'll share how to market & sell this benefit effectively. The post New Service Idea: Time-Saving Accounting Audit appeared first on Future Firm.

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Depreciation, depletion, and amortization (DD&A)

Accounting Tools

What is Depreciation, Depletion, and Amortization? Depreciation, depletion, and amortization (D&A) refers to the set of techniques used to gradually charge certain costs to expense over an extended period of time. More specifically: Depreciation. This is the planned, gradual reduction in the recorded value of a tangible asset over its useful life.

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QuickBooks Connect is now Intuit Connect

Insightful Accountant

Intuit has changed the name of 'QuickBooks Connect' to 'Intuit Connect' for 2025 and in so doing has announced the dates for this year's event.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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Jun 5, Compliance Tax Rates

Bookkeeping Essentials

Canadian and U.S. compliance tax rates for small business owners who work from home. Prescribed interest rates, mileage, auto allowance, EI, CPP, FICA, FUTA and more.

Tax 52
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Translation adjustments definition

Accounting Tools

What are Translation Adjustments? Translation adjustments are those journal entries made during the process of converting an entity’s financial statements from its functional currency into its reporting currency. These adjustments are made by a corporate parent when it has received financial statements from a subsidiary that use a different currency than the reporting currency of the parent.

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Unlock Efficiency and Growth for Your Clients with Xero and Powerful Integrations

Insightful Accountant

Xero, a leading cloud accounting platform, is excited to partner with App Academy for an exclusive webinar showcasing how Xero, combined with powerful integrations, can unlock maximum efficiency for your business.

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Supplementary statement definition

Accounting Tools

What is a Supplementary Statement? A supplementary statement is a supporting schedule that expands upon the information in an organization's income statement , balance sheet , or statement of cash flows. These statements are typically attached to a set of financial statements when the statements are being distributed outside of the organization; they are rarely attached to internal distributions.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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Expense reimbursement simplified

Nanonets

Expense reimbursements are typical in today's work environment. An employee expense can range from $3 for a coffee to a few hundred dollars for a business flight. These can add up to billions of dollars that companies need to reimburse their employees. When it comes to expenses and reimbursements, two things come to mind. For businesses, it's about effectively controlling business spending and increasing compliance.

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Service life definition

Accounting Tools

What is Service Life? Service life is the time period over which an asset is expected to be used. It is the basis for the depreciation of an asset, since depreciation only spans the service life of an asset. If there is a chance that an asset will become obsolete or fall into disuse later in its life, then its physical life may prove to be longer than its service life.

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Biden vetoes repeal of requirement to count crypto as liability

Accounting Today

The White House has vetoed a bill that would have repealed a measure requiring custodians of crypto assets to count them as liabilities on their balance sheets.

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The difference between accruals and deferrals

Accounting Tools

What is an Accrual? An accrual allows a business to record expenses and revenues for which it expects to expend cash or receive cash, respectively, in a future period. It is an essential element of the accrual basis of accounting. Using accruals allows a business to more closely adhere to the matching principle , where revenues and related expenses are recognized together in the same period.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.