Mon.Jan 08, 2024

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IRS plans to start tax season on Jan. 29

Accounting Today

The agency is anticipating over 128.7 million individual tax returns by the April 15, 2024, tax deadline.

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QuickBooks Desktop Product Alert

Insightful Accountant

If you use the QuickBooks Desktop Payroll Set-up Wizard, you may encounter an Error. There is a fix available.

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Get ready for tax season!

Accounting Today

NCCPAP's Frank Sands shares the major issues that tax pros should be paying attention to in the run up to April 15.

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Is FreshBooks Right for My Clients? 5 Questions to Ask

Outsourced Bookeeping

Are you thinking about selecting the ideal accounting software for your customers? They could find that FreshBooks is the game-changer they need! However, how can you tell whether it’s the right fit? By posing pertinent queries, you may determine whether FreshBooks meets the particular business requirements of your clients. FreshBooks has a lot of features, like monitoring costs and making invoicing easier.

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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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Crypto mega trends accountants need to watch in 2024

Accounting Today

As the calendar rolls forward to 2024, and 2023 for good or bad recedes into the rearview mirror, the crypto sector and accounting professionals are attempting to plan for the future.

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How to Create an Efficient Profit and Loss Statement

Remote Quality Bookkeeping

Hopefully, your business made a profit last year. After all, that’s the primary purpose of most companies – to turn profits and generate earnings for owners and shareholders. But how do you know how much of a profit your business made in the past 12 months? Or in the past six months? The past quarter? Figuring out exactly how your business is performing requires more than just counting up your sales and the other money you have coming in the door.

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How To Maximize Net Terms As A Freelancer

Invoicera

Introduction So, you are a freelancer and have delivered a project but still waiting for the payment? We know this struggle is so frustrating. Not getting paid on time for your hard work can affect your finances & peace of mind. Do you know? Nearly 71% of freelancers reported having trouble getting paid at some point in their careers. If you’re experiencing this too, it might be due to unclear specifications of net terms in your invoices.

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IAASB plans tweaks to auditing standards

Accounting Today

The International Auditing and Assurance Standards Board is planning to make some minor adjustments in its quality management and global audit standards to align them more closely with international ethics rules for accountants.

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Thinking of Changing Your Company’s FYE After Incorporation in Singapore? Here’s a Step-by-Step Guide

Counto

Thinking of Changing Your Company’s FYE After Incorporation in Singapore? Here’s a Step-by-Step Guide In the dynamic world of business, circumstances can change rapidly, and sometimes, it becomes necessary to adapt. One such adaptation might involve changing your company’s Financial Year End (FYE) in Singapore. Whether it’s for better aligning with your business cycle or optimising tax exemptions, altering your FYE is possible.

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The next frontier in tax

Accounting Today

Practitioners have always shared advice as part of tax prep, but the future of the field is in proactive, intentional tax advisory services.

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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 is bank reconciliation? Definition, examples, and process

Nanonets

Bank Reconciliation is the process of matching the company's cash books to the bank statement. The aim is to ensure all transactions are accurately recorded in the company's cashbooks and to find any errors or fraud. Reconciliation includes matching the company’s balance sheet, income statement, bank statements, and expenses. Having an accurate set of financial statements is essential, or it can lead to complications in financial planning, tax compliance, and legal matters.

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Congress leaders ease shutdown risk with spending-cap deal that cuts IRS funds

Accounting Today

The deal includes speeding up $10 billion in cuts to the Internal Revenue Service.

Tax 299
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Converting Your Singapore Sole Proprietorship into a Pte Ltd Company

Counto

Converting Your Singapore Sole Proprietorship into a Pte Ltd Company Starting a business as a sole proprietorship can be a straightforward and cost-effective option, but as your business grows, you might consider converting it into a private limited company, also known as a Pte Ltd in Singapore. This transition offers numerous advantages, including limited liability, tax benefits, wider funding options, and more.

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Private U.S. companies increasingly going bust as profit shrinks

Accounting Today

The struggles at smaller companies could create opportunities for professionals that help companies restructure their debt and turn themselves around.

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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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Why Is Bank Reconciliation important in accounting?

Nanonets

Bank Reconciliation is the process of matching the company's cash books to the bank statement. The aim is to ensure all transactions are accurately recorded in the company's cashbooks and to find any errors or fraud. Reconciliation includes matching the company’s balance sheet, income statement, bank statements, and expenses. Having an accurate set of financial statements is essential, or it can lead to complications in financial planning, tax compliance, and legal matters.

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GASB offers guidance on risk disclosures

Accounting Today

The Governmental Accounting Standards Board released guidance requiring state and local governments to disclose information about certain risks.

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Singapore GST Registration Guide for Foreign Businesses

Counto

Singapore GST Registration Guide for Foreign Businesses Expanding your business to Singapore and wondering about Goods and Services Tax (GST)? Look no further! This comprehensive guide will walk you through the essentials of GST registration for foreign businesses in Singapore. Our aim is to simplify the process, help you understand your obligations, and ensure your compliance with Singapore’s GST regulations.

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Art of Accounting: Top 10 quotes from last year's columns

Accounting Today

Here's a look back at some of the best pieces of advice from this past year.

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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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Sole Proprietorship vs Pte Ltd: Pros and Cons in Singapore

Counto

Sole Proprietorship vs Pte Ltd: Pros and Cons in Singapore When starting a business in Singapore, one of the critical decisions you’ll face is choosing the right business structure. Two common options are a Sole Proprietorship and a Private Limited Company (Pte Ltd). Each has its own set of pros and cons, and understanding the differences between them can help you make an informed choice that aligns with your business goals and needs.

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Indiana accounting students influenced by internships, social media

Accounting Today

A survey of Hoosier accounting and business students found some encouraging news.

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Janel Sykora on Branding and Where to Start

Insightful Accountant

We delve deep into the world of branding and kickstart your journey to marketing success for accounting firms with Janel Sykora, a seasoned expert from Cajabra Marketing for Accountants.

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Clients can go green, save greenbacks on eco-friendly home repairs

Accounting Today

Financial advisors, tax professionals and their customers can recoup 30% of the cost through credits for qualified upgrades to their residences.

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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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How do Foreign Businesses Set Up Operations in Singapore?

Counto

How can a Foreign Business Set Up Operations in Singapore? If a foreign entity, rather than an individual, intends to establish a presence in Singapore, it can explore four entry avenues. Each entry option comes with distinct advantages and limitations. Here’s a brief overview: 1. Representative Office (RO) Ideal for short-term market exploration.

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UHY merges in Paresky Flitt

Accounting Today

The Michigan-based firm has expanded to Massachusetts.

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Invoice Data Extraction: A complete guide

Nanonets

Introduction In the modern business environment, accounts payable teams must be able to process invoices and payments as quickly and efficiently as possible. As the organization grows, the number of invoices that need to be processed also grows, requiring a larger team size and, longer processing times. In addition to this, manual invoice data extraction and processing is also quite error-prone leading to a greater investment of resources than is required.

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Build the Ideal Education Strategy for Credit Congress

NACM

?NACM's Credit Congress & Exposition is an annual conference established to bring credit professionals together from across the nation to network, learn about various topics in the credit industry and stay informed about the latest changes in the B2B credit world.?️ On the latest episode of NACM's Extra Credit podcast, listen to credit professi.

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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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Trump eyes keeping 21% corporate tax, extending individual cuts

Accounting Today

Donald Trump plans to make permanent the 2017 individual tax cuts that he enacted as president while keeping corporate tax levels unchanged in an appeal to working and middle class voters should he retake the White House.