Thu.Jan 25, 2024

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IRS offers relief on Maryland college savings rollovers

Accounting Today

The Internal Revenue Service and the Treasury Department issued a notice to provide relief to parents who got snagged by problems with Maryland's prepaid college savings program.

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AccountingDepartment.com Attends Vistage ChairWorld 2024

Accounting Department

This week, AccountingDepartment.com Business Development Representative, Luke Backus, attended ADC's 10th Vistage ChairWorld in San Diego, CA! ChairWorld is a place for Vistage Chairs to come together and attend various breakout sessions, networking opportunities, and evening fun to learn new strategies, improve leadership skills, and more.

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Tax Strategy: Struggling to make the Clean Vehicle Credit work

Accounting Today

As the Internal Revenue Service develops guidance to implement these statutory requirements, it is finding it necessary to make some compromises.

Tax 312
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Doubling Down on the Importance of Clean FinOps Data

FinOps Foundation

Key Insight Microsoft is expanding the cost and usage data available in the portal so that FinOps practitioners can gain insights that improve their practice. Summary Education : Microsoft wants to help organizations learn how to adopt FinOps. While tools help with implementing FinOps, the cultural shift can be more difficult, so Microsoft is focusing on teaching people about the collaboration that is required to be successful with FinOps.

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Breaking Ground on Better Payment Processes: Strategies for Construction Pros

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

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IRS previews free Direct File tax program

Accounting Today

The Internal Revenue Service showed off its upcoming Direct File free tax preparation service ahead of its pilot test in a dozen states starting in March.

Tax 311
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Export FOCUS-compliant Datasets

FinOps Foundation

Key Insight Microsoft is expanding the cost and usage data available in the portal and making more datasets available through cost management exports. Summary Education : Microsoft wants to help organizations learn how to adopt FinOps. While tools help with implementing FinOps, the cultural shift can be more difficult, so Microsoft is focusing on teaching people about the collaboration that is required to be successful with FinOps.

FinOps 130

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Export FOCUS-compliant Datasets

FinOps Foundation

Key Insight Microsoft is expanding the cost and usage data available in the portal and making more datasets available through cost management exports. Summary Education: Microsoft wants to help organizations learn how to adopt FinOps. While tools help with implementing FinOps, the cultural shift can be more difficult, so Microsoft is focusing on teaching people about the collaboration that is required to be successful with FinOps.

FinOps 130
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GRI issues biodiversity standard

Accounting Today

The Global Reporting Initiative published a major update to its biodiversity standard for organizations to disclose their most significant impacts on the number of plant and animal species throughout their operations and supply chain.

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Leverage Granular, FOCUS-compliant Datasets for FinOps

FinOps Foundation

Key Insight Microsoft is expanding the cost and usage data available in the portal and making more datasets available through cost management exports. Summary Education: Microsoft wants to help organizations learn how to adopt FinOps. While tools help with implementing FinOps, the cultural shift can be more difficult, so Microsoft is focusing on teaching people about the collaboration that is required to be successful with FinOps.

FinOps 130
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Unlock opportunities for tax incentives in opportunity zones

Accounting Today

Investors have a wealth of options for putting their capital gains to work through this program.

Tax 145
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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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Microsoft Improves Cost and Usage Data Accessibility for FinOps Practitioners

FinOps Foundation

Key Insight Since clean, usable data underpins all of FinOps, Microsoft is expanding the cost and usage data available to you in the portal, and making more datasets available to you through cost management exports. Summary Education: Microsoft is investing in helping organizations learn how to adopt FinOps. While tools help with implementing FinOps, the cultural shift can be more difficult, so Microsoft is focusing on teaching people about the collaboration that is required to be successful wit

FinOps 130
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He Said, She Said: Are leaders born or made?

Accounting Today

Angie Grissom and August Aquila debate whether you can make a strong leader out of an ordinary person, or are there certain innate traits that simply can't be taught?

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One Top 100 ProAdvisor's Experience at the Hector and Carlos Garcia Conference

Insightful Accountant

Top 100 ProAdvisor Laurie O'Neil shares her experience participating in an event hosted by Hector and Carlos Garcia last October.

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Tax Fraud Blotter: "Rice" and shine

Accounting Today

GUILTY4EVER; lack of security; just trust me; and other highlights of recent tax cases.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Top 11 Cybersecurity Threats Accounting Firms Should Watch in [2024]

Ace Cloud Hosting

In today’s accounting world, where computers help us work better, keeping our data safe is super important. Some new numbers show just how much we need to watch out. A.

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How To Take The Pain Out Of Busy Season

Cloud Accounting Podcast

Blake and David discuss the challenges of busy season and achieving work-life balance as accountants. They also debate the value and investment risks of cryptocurrency and analyze global economic impacts like outflows from China's economy. They also review some of the latest AI trends including self-driving vehicle safety data, and examine some recent news regarding a software error falsely accusing hundreds, an SEC crypto ETF approval, and a feel-good small town tax budget balanced without rate

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7 Accounts Payable Trends in 2024

MineralTree

The past year in finance was riddled with economic uncertainty, accompanied by challenges like staffing constraints and the need to optimize efficiency with limited resources. Despite the start of a new year and promises of rate cuts on the horizon, MineralTree’s 8th Annual State of AP Report revealed that many of these trends and hurdles aren’t fading away — they’re evolving.

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ChatGPT for accountants: 3 ways to boost your firm's productivity

Blake Oliver

Accountants, are you ready to embrace the future? In my latest article on the Firm of the Future blog , I showcase real-world applications of AI chatbots in our profession. Gone are the days when AI was just a buzzword. Now, it's a practical tool boosting our productivity in ways comparable to the advent of electronic spreadsheets. The potential is huge, from answering client queries in record time to analyzing complex legal documents and even posting QuickBooks transactions.

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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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Time Management Hacks to Balance Multiple Clients During Tax Season

LedgerDocs

Tax season is a whirlwind for most bookkeepers, you are generally trapped in a state of juggling the financial affairs of multiple clients simultaneously. To have a smooth tax season, bookkeepers need to remember and meet various tax deadlines, remain organized, and maintain their accuracy. This can be easier said than done without some effective strategies with checks and balances to keep you on track.

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Vendor Reconciliation Best Practices

oAppsNet

In the intricate ballet of financial management, vendor reconciliation takes center stage, ensuring harmony between a company and its suppliers. This article unveils the best practices that elevate vendor reconciliation from a routine task to a strategic imperative. Understanding and implementing these best practices is essential for financial precision, from establishing a solid foundation to navigating advanced strategies. 1.

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ChatGPT for accountants: 3 ways to boost your firm's productivity

Blake Oliver

Accountants, are you ready to embrace the future? In my latest article on the Firm of the Future blog , I showcase real-world applications of AI chatbots in our profession. Gone are the days when AI was just a buzzword. Now, it's a practical tool boosting our productivity in ways comparable to the advent of electronic spreadsheets. The potential is huge, from answering client queries in record time to analyzing complex legal documents and even posting QuickBooks transactions.

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Free Bank Reconciliation Template

Nanonets

Our free Bank reconciliation template provides a simple way to reconcile your cashbook with your bank statement. Hit the download button and follow our guide to learn more. <Not final link> Download Free Bank Reconciliation Template Example of our Excel bank reconciliation template: How to do bank reconciliation? Bank Reconciliation is the process of matching the company’s cashbooks to the bank statement.

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

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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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Paperless Invoicing: Is It Better Than Paper Invoice?

Invoicera

Summary While paper invoices have served their purpose well over the years, they also posed challenges related to storage, retrieval, and environmental impact. Yes, paperless invoicing is better than paper invoices as it reduces environmental impact compared to paper invoices. It is cost-effective, saving on paper, printing, and postage. Online invoices say the market for electronic invoices is estimated to surpass $25 million by 2027.

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Free Credit Card Reconciliation Template

Nanonets

Our free Bank reconciliation template provides a simple way to reconcile your cashbook with your bank statement. Hit the download button and follow our guide to learn more. <Not final link> Download Credit Card Bank Reconciliation Template Example of our Excel credit card reconciliation template: How to do credit card reconciliation? Credit card reconciliation is the process of matching credit card records with your company ledger.

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Top Finance and Procure-to-Pay Communities for Accounts Payable

Nanonets

Automating accounts payable (AP) differs from many other enterprise business processes. First, it is collaborative, involving transactions with suppliers and other third parties. Second, for best results, it requires tight collaboration with related departments such as procurement, treasury and supply chain, among others. For that reason, relevant communities and resources for accounts payable extend beyond finance.