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.

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Introducing our 2024 Xerocon London event partners

Xero

Xerocon London is just under a week away on 12 and 13 June, and the ExCeL exhibitor floor will be full to the brim with stands showcasing some of the best and most loved apps, tools and services for accountants, bookkeepers and small businesses. This year, you can expect to see just under 60 exhibitors at the event, including many leading Xero App Store app partners.

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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.

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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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How to Select the Perfect Payments Partner: 7 Keys for Sustainable Growth

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

Join Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms for an informational webinar about how to select the ideal payments provider for your platform! This session highlights the 7 key criteria for assessing payments partners and maximizing the value of your investment. From evaluating technology and business development programs to understanding support and compliance, this webinar will equip you with a comprehensive evaluation framework and strategy for

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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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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.

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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.

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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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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.

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

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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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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.

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Unlock The Power Of The CFO Toolkit

Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.

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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.

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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.

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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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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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Pricing for Profit: How to Set, Negotiate, and Succeed

Speaker: Igli Laci, Strategic Finance Leader

In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a

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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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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.

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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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3 Steps to Successful & Strategic Year-End HR Planning

Year-end can be a hectic time for HR professionals, but with proper planning and organization, you can navigate it smoothly. Learn the main watch outs for year-end HR prep with Paycor’s helpful checklist covering employee data, wage and tax information, and special situations. Ensure compliance and efficiency by downloading today!

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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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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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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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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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Auditpalooza: Rocking the Month-End Close Audit

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

A good, fast, clean audit leads to a happy work life. Join us in this one-hour webinar, where we share the best ways to prepare and conduct your audit process to maximize audit satisfaction and minimize administrative time in month-end close and financial reporting. Learning objectives: This course objective is to review leading practices to maximize audit success.

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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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Celebrating excellence at the 2024 Xero Awards Asia

Xero

Every year, Xero Awards gives us an opportunity to celebrate the incredible commitment and achievements of our accounting, bookkeeping, and ecosystem partners, who work tirelessly to help small businesses throughout Asia thrive. The last year has been a challenging one. Amidst macro economic challenges like inflation, rising costs and talent shortages, you have been the first line of support for Asia’s small business.

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When to put parentheses around a number

Accounting Tools

What is the Purpose of Parentheses in Accounting? In accounting, the presence of parentheses around a number indicate that the number is negative. For example, a cash balance of $(1,000) means that a business has a negative $1,000 cash balance. When to Use Parentheses in Accounting In accounting, there are several situations in which it is common practice to put parentheses around numbers.

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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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Benchmarking ROI with Forrester: Measuring the Success of Finance Transformation

Finance Transformation Myths Busted Over 75% of organizations struggle to define the right success metrics to benchmark the impact of their finance transformation investment. Whether you are just initiating your digital transformation journey or planning to pitch your next AI project to leadership, without the right metrics and a rigorous tracking process - all your efforts might go to waste!