Mon.Mar 25, 2024

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IRS encounters Form 1065 processing glitches

Accounting Today

The Internal Revenue Service has posted new information about how to handle possible processing errors when electronically filing Form 1065, "Return of Partnership Income," and ways to avoid them.

Tax 328
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Podcast | Knowledge as a factor of accuracy and productivity in accounts payable

Cevinio

Welcome to “Knowledge as a factor of accuracy and productivity in accounts payable, the podcast” with Pavel Voronin, Knowledge & Training Lead at Cevinio [.

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$1B in 2020 tax refunds remains unclaimed

Accounting Today

Time is running out for nearly 940,000 individuals to claim refunds from 2020, with a May 17 deadline approaching for filing the necessary tax returns.

Tax 312
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Calculating Your ROI Per Employee

Insightful Accountant

The changing landscape in the tax industry means firms are facing changes at a faster pace than ever. In addition to rapid technology changes, staffing challenges are prevalent and clients are demanding more value-added services than ever.

Tax 104
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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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AI accounting startup raises $100M

Accounting Today

The Series C round was led by the Israel-based Key1 Capital fund and joined by Euclidean Capital, with funds managed by Hamilton Lane.

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3 Reasons Why a Cashless Society is Inevitable?

Invoicera

Introduction Entering the 21st century, it’s hard to imagine that you can still conduct transactions without physical currency. That might not be the case in the future, though, as we move toward an era when traditional forms of exchange could become less common and businesses deal exclusively with digital transactions. A society without physical currency is becoming an inevitability as electronic payments and online money transfers become increasingly popular across the globe, particularly in u

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AI in Accounting: What’s Coming for Small Businesses

Remote Quality Bookkeeping

We know artificial intelligence is making strides in many industries, from content creation to software development. But what is the status of AI in accounting and bookkeeping? Well, it turns out it’s not much further removed from where AI leads many other arenas. Yet, with profits at stake, many small business owners want to know if they can (and should) leave their bookkeeping to artificial intelligence.

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The changing of the guard

Accounting Today

Bob Lewis and Doug Lewis of the Visionary Group dive into how best to navigate the generational shifts in approach to a host of issues in accounting.

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5 emerging trends to future-proof your accounting firm

Plooto

The future of accounting is coming fast, as firms race to integrate new technologies into their practices. In fact, a staggering 96% of accountants believe that automation will be vital to their future growth and success. Emerging trends such as cloud-based accounting, machine learning, blockchain, robotic process automation (RPA), and enhanced client-centric services are fundamentally altering the landscape.

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IRS revises whistleblower form

Accounting Today

The Internal Revenue Service has updated its whistleblower award form for tipping off the IRS about tax violations and applying for a monetary reward for the information.

Tax 150
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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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What are Integrated Payables – And How Can It Help Your Business?

Nanonets

B2B payments don’t have to be complicated – but they often are. Juggling cross-border payments , a slew of available payment processing options, and keeping all of them straight and error-free across an entire landscape of payment recipients and vendors can take far more time than the seemingly simple act deserves. But changes in tech are coming for your accounts payable and receivable infrastructure – one of which is integrated payables, which takes the entire mess of payme

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Chicago voters reject mansion tax

Accounting Today

The measure would have allowed the city council to increase transfer levies on upmarket residential and commercial property sales.

Tax 145
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AI in Accounts Payable

Tipalti

Learn how artificial intelligence is revolutionizing processes, enhancing efficiency, and driving bottom-line results in this exploration of the impact of AI on accounts payable.

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Material cost definition

Accounting Tools

What is Material Cost? Material cost is the cost of materials used to manufacture a product or provide a service. Excluded from the material cost is all indirect materials , such as cleaning supplies used in the production process. Material cost usually comprises the bulk of the costs incurred to manufacture a product. How to Calculate Material Cost Follow these steps to determine the amount of material cost to assign to a unit of production (such as a completed finished goods item): Ascertain t

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Airbase vs Zip

Tipalti

Both Airbase and Zip help automate the procurement process for businesses–which solution will match your business needs best, and are there better alternatives?

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Cost of merchandise sold definition

Accounting Tools

What is the Cost of Merchandise Sold? The cost of merchandise sold is the cost of goods that have been sold by a wholesaler or retailer. These entities do not manufacture their own goods, instead buying the goods from third parties and selling them to their customers. If wholesalers and retailers were to instead manufacture their own goods, this term would change to the cost of goods sold.

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Understanding Tax-Free Savings Account (TFSA)

Billah and Associates

What is Tax-Free Savings Account (TFSA)? A Tax-Free Savings Account (TFSA) is a registered investment account that allows Canadian residents 18 years of age or older to earn tax-free investment income. Since 2009, federal government, through TFSAs allow individuals to contribute a set amount each year to the account, up to a lifetime maximum. Any income earned in the account, such as interest, dividends or capital gains, accrues tax-free.

Tax 52
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Batch-level cost definition

Accounting Tools

What is a Batch-Level Cost? A batch-level cost is a cost related to a group of units, but which is not associated with specific individual units. For example, the cost incurred to set up a production run is associated with the batch of goods that are subsequently produced. The concept is used to allocate overhead , where batch-level costs are spread among the units in a batch.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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Tax Strategy: Election year tax proposals kick off

Accounting Today

Both Donald Trump and Joe Biden have begun laying out their visions for the Tax Code.

Tax 321
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Limit pricing definition

Accounting Tools

What is Limit Pricing? Limit pricing is the practice of setting a product or service price at a level just low enough to deter potential market entrants from competing in a market. A business engages in limit pricing when it wants to minimize the number of competitors. The price point chosen may not be the price at which a business earns the largest profit , but it does keep other companies out of the market.

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Cash receipt definition

Accounting Tools

What is a Cash Receipt? A cash receipt is a printed statement of the amount of cash received in a cash sale transaction. A copy of this receipt is given to the customer , while another copy is retained for accounting purposes. A cash receipt contains the following information: The date of the transaction A unique number that identifies the document The name of the payer The amount of cash received The payment method (such as by cash or check ) The signature of the receiving person Accounting for

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Predatory pricing definition

Accounting Tools

What is Predatory Pricing? Predatory pricing is the practice of deliberately setting prices so low that competitors cannot compete, and so are driven from the marketplace. Predatory pricing can act as a strong barrier to entry , since potential competitors will steer clear of any company sending such a strong competitive signal. The result of predatory pricing should be a situation where the company can then raise prices and reap exceptional profits ; however, if raising prices removes the prima

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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Shadow pricing definition

Accounting Tools

What is Shadow Pricing? Shadow pricing can refer to the assignment of a price to an intangible item for which there is no ready market from which to derive a price. Shadow prices are most commonly used in cost-benefit analyses where some elements of the analyses cannot be quantified by reference to a market price or a cost. The term can also refer to the maximum price that a business should be willing to pay for one additional unit of some type of resource.

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Break even pricing definition

Accounting Tools

What is Break Even Pricing? Break even pricing is the practice of setting a price point at which a business will earn zero profits on a sale. The intention is to use low prices as a tool to gain market share and drive competitors from the marketplace. By doing so, a company may be able to increase its production volumes to such an extent that it can reduce costs and then earn a profit at what had previously been the break even price.

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Price leadership definition

Accounting Tools

What is Price Leadership? Price leadership is a situation in which one company, usually the dominant one in its industry, sets prices which are closely followed by its competitors. This firm is usually the one having the lowest production costs , and so is in a position to undercut the prices charged by any competitor who attempts to set its prices lower than the price point of the price leader.

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Absorption pricing definition

Accounting Tools

What is Absorption Pricing? Absorption pricing is a method for setting prices, under which the price of a product includes all of the variable costs attributable to it, as well as a proportion of all fixed costs. This is a variation on the full cost plus pricing concept, in that the full cost is charged to a product, but profit is not necessarily factored into the price (though it is likely to be).

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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

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Bond retirement definition

Accounting Tools

What is Bond Retirement? A bond retirement occurs when an organization repurchases bonds that it had previously issued to investors. There are three scenarios in which a bond retirement can occur, which are as follows: Maturity date arrives. A bond retirement may occur when bonds reach their scheduled maturity dates , in which case the issuer is obligated to retire them.

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Current cost definition

Accounting Tools

What is Current Cost? Current cost is the cost that would be required to replace an asset in the current period. This derivation would include the cost of manufacturing a product with the work methods, materials, and specifications currently in use. The concept is used to generate financial statements that are comparable across multiple reporting periods.