Thu.Mar 28, 2024

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The biggest decisions young accountants have to make

Accounting Today

Experts share what young accountants should look for in a firm and how to approach their careers.

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Streamlining Financial Processes: The Impact of Client Accounting Services on Efficiency

Accounting Department

Efficient financial processes are essential for the success and growth of any business. However, managing tasks like invoicing, payroll management, and financial reporting can be time-consuming and complex, diverting valuable resources from core operations. This is where client accounting services come into play. In this blog post, we will explore how client accounting services (CAS) streamline financial processes for businesses, highlighting the benefits of outsourcing accounting functions to i

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Tax Fraud Blotter: More EFIN messes

Accounting Today

Farming it out; short circuited; California dreamin'; and other highlights of recent tax cases.

Tax 314
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Understanding Dimensions in Dynamics 365 Business Central vs. Segments in Dynamics GP (Great Plains)

Fidesic blog

If you are using Microsoft Dynamics GP and moving to Dynamics 365 Business Central, Dimensional Accounting is one of the major differences you will encounter in your accounting processes. Dimensional accounting has become a standard process available in many contemporary accounting software and ERP solutions. In this post we give a basic definition of Dimensional accounting and then give a rundown on how Business Central Dimensional accounting is different from Dynamics GP processes.

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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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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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SEC cyber rules mean new steps for CFOs

Accounting Today

New SEC cybersecurity disclosure rules are now in effect. Here's what CFOs should be doing to comply with the new requirements.

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Your Guide to Singapore Business Structures and Common Mistakes

Counto

Your Guide to Singapore Business Structures and Common Mistakes Choosing the right business structure in Singapore is a critical decision for entrepreneurs, with implications for liability, taxation, and operational flexibility. However, amidst the excitement of starting a new venture, it’s easy to overlook important considerations and fall prey to common pitfalls.

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Is it time to start repaying your EIDL?

Reconciled Solutions

Is it time to start repaying your EIDL? Here's what you need to know about the deferment period coming to an end. The post Is it time to start repaying your EIDL? appeared first on Reconciled Solutions.

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NetSuite expands Text Enhance feature

Accounting Today

NetSuite, during its SuiteConnect event in New York City today, announced that it is expanding its generative AI-driven Text Enhance feature with over 200 new places it can be applied.

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Smarter Way to Hire, Output Thinking, and Removing Yourself w/ John Seiffer

Jetpack Workflow

Podcast Summary In this episode of the Growing Your Firm podcast, host David Cristello welcomes John Seiffer, a seasoned business owner and remote CEO, to discuss the concept of Output Thinking and its application in team management. John, a business coach and former president of the International Coach Federation , shares insights on how to make managing teams easier by focusing on visible, measurable outputs.

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PCAOB fines PwC US and Australia for violations

Accounting Today

The Public Company Accounting Oversight Board sanctioned PricewaterhouseCoopers' member firms in the U.S. and Australia over auditing quality control violations, imposing a $2.75 million and $600,000 penalty.

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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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Breaking into Tech and Payments

Plooto

How did you end up in a role in technology? My journey into tech has been shaped by a profound interest in both financial systems and innovation. Over the past five years, I've been deeply entrenched in the dynamic landscape of the tech industry, particularly specializing in the realm of payments. However, my career trajectory has been far from linear, marked instead by a diverse array of experiences that have enriched my perspective.

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CEO comes back from brain injury to build accounting firm

Accounting Today

BookSmarts Accounting CEO Jenny Groberg managed to survive a traumatic brain injury and build a firm that empowers women accountants.

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Top 6 Net 90 Vendors for Building Business Credit in 2024

Nanonets

Though they are harder to obtain than their net 30 and net 60 counterparts, net 90 accounts are extended-period trade accounts that can help businesses improve their creditworthiness in the eyes of investors, vendors, and stakeholders. Most vendors offer net 90 terms only in certain circumstances, often relying on external credit reporting agencies to verify a customer’s financial standing.

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EisnerAmper to merge in Tidwell

Accounting Today

The Top 25 Firm is adding a tax, assurance, advisory and real estate consulting firm in Birmingham, Alabama.

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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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Is accounts payable a debit or a credit? Explained simply

Plooto

Understanding the role and purpose of accounts payable (AP) is crucial for your company's financial health. Efficiently managing your AP can help you stay on top of payments and have better control of your cash flow.

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The Benefits of Automated Payments 

AvidXchange

Table of Contents: What Is an Automated Payment? | The Benefits of Automated Payments | How to Choose the Best Payment Automation Software | Are Automated Payments Right for My Business? Making supplier payments can be a time-consuming and complex task for finance departments – different suppliers prefer varying payment methods, offer different terms and require certain procedures depending on the situation.

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Accounts receivable turnover ratio: Definition, formula & examples

Plooto

The accounts receivable turnover ratio can be a helpful metric in determining the efficiency of your accounts receivable (AR) processes. The AR turnover ratio measures the number of times debts are collected from customers over a specified period.

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How to Set Up Azure Budgets for Effective Cost Management

Economize

Introduction Effective financial management is important for businesses to run a productive cloud infrastructure. As businesses increasingly migrate towards cloud technology, improving efficiency and controlling cloud-related expenditures has become more crucial. Cloud costs can fluctuate significantly due to changes in usage patterns, service configurations, and the adoption of new cloud capabilities.

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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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Spend Under Management

Tipalti

How can procurement teams increase spend under management and accurately measure KPIs? Learn the best practices for spend under management in this comprehensive article.

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Top Ramp competitors and alternatives in 2024

Nanonets

Ramp is a fast-growing spend management platform that provides modern corporate card and accounts payable solutions. It's especially popular among startups and SMBs seeking to streamline expense reporting. Ramp automates receipt matching, integrates with other accounting software, and simplifies the spend management process. But every company is different.

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Purchase Requisitions

Tipalti

Learn how to streamline procurement processes, maximize efficiency, and empower your organization's purchasing operations with our ultimate guide to purchase requisitions.

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Balance per books definition

Accounting Tools

What is Balance per Books? Balance per books is the ending balance of an account that appears in the general ledger. The concept is commonly used in regard to the ending cash balance, which is then compared to the cash balance in the monthly bank statement as part of a bank reconciliation. Balance per Books vs. Bank Balance The balance per books is the ending balance in the accounting records of an organization, while the bank balance is the ending cash balance in an organization’s bank account,

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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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Cost Reduction Process

Tipalti

The core purpose of the cost reduction process is to eliminate unnecessary business spend. But what are the best ways to implement an effective cost-reduction process? Read on.

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Lawsuit payable definition

Accounting Tools

What is a Lawsuit Payable? A lawsuit payable is a general ledger account that contains the amount owed to the opposing party in a lawsuit. Liabilities are only recorded in this account if the amount to be paid is both probable and can be estimated. Presentation of a Lawsuit Payable The lawsuit payable account is usually classified as a current liability , since lawsuit payments are typically paid within one year.

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Travel and Expense Management Software

Tipalti

Review the best travel and expense management software solutions with AP automation capabilities. Simplify your business trips and streamline expenses.

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Leverage definition

Accounting Tools

What is Leverage? Leverage is the use of debt to finance an organization’s activities and asset purchases. When debt is the primary form of financing, a business is considered to be highly leveraged. Leverage is used to increase the return on equity for investors. In essence, using debt instead of equity can boost the return that investors are experiencing.

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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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Procurement Automation

Tipalti

Procurement automation can help you streamline purchasing workflows, improve efficiency, and drive cost savings. Empower your organization with the tools needed to navigate the future of procurement seamlessly.

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LIFO liquidation definition

Accounting Tools

What is a LIFO Liquidation? A LIFO liquidation occurs when an organization using the last in, first out concept to track its inventory costs uses up its oldest inventory layer. Under the LIFO method, the cost of the last inventory acquired is assigned to the first inventory used. This results in layers of costs in the LIFO database, each one related to the purchase of inventory on earlier dates.

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Open Banking

Tipalti

Learn what open banking is and how it opens up financial resources, apps and tools for consumers so they can have more control and foresight over their financial wellbeing.

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Limited liability company definition

Accounting Tools

What is a Limited Liability Company? A limited liability company (LLC) is a business entity that provides its owners with the limited liability protection of a corporation , while allowing earnings to pass through to the owners for tax purposes. Thus, an LLC combines the best features of a corporation and a partnership while not being classified as either one.

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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.