Thu.Oct 05, 2023

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IRS warns about art donation scams

Accounting Today

The service is cautioning taxpayers against claiming exaggerated deductions for purported donations of artwork, as it sees a rise in such schemes.

Tax 328
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ADC Gets AMPLIFIED in Detroit at EO XCentric!

Accounting Department

Our second Entrepreneurs' Organization (EO) event of the year, EO XCentric, took place in Detroit this week and ADC's Shawn Marcum, fresh off of EO Alchemy, set out to rock Detroit and spend some time with all of the great event attendees.

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IRS makes progress on implementing Inflation Reduction Act

Accounting Today

The Internal Revenue Service has been working hard to implement the dozens of tax provisions contained in last year's Inflation Reduction Act, according to a new report.

Tax 325
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Partners Sessions to See - Summit NA 2023

Fidesic blog

Dynamics Communities Summit NA conference is just around the corner. We’re pretty pumped to connect with the community in person. Here are some of the great sessions in which our friends and partners will be speaking. Check them out.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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Not having a House Speaker is threatening tax and other key areas

Accounting Today

Among the items now stalled are a measure to extend federal banking protections to marijuana companies operating in states where the drug is legal and negotiations to restore tax breaks for business spending on research and development.

Tax 299
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BatchMaster for QuickBooks – Introduction

Insightful Accountant

Murph delivers the first part of a series on BatchMaster software for use with QuickBooks, which can bring your products to market faster and cheaper, while reducing overall costs and complying with your industry’s regulatory mandates.

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A Comprehensive Guide to KPI Utilization and Automation

Cevinio

Driving Excellence in Accounts Payable: A Comprehensive Guide to KPI Utilization and Automation In the realm of corporate finance, maintaining a competitive edge is paramount. One area where this is particularly true is Accounts Payable (AP). The efficiency of AP operations can significantly impact an organization’s financial stability and overall prosperity.

AP 100
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IRS tax-exempt unit faces its own backlogs

Accounting Today

The TE/GE Division didn't provide satisfactory answers to many of the questions it received from taxpayers, according to a new report.

Tax 200
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Bill Unveils Accountant Console for Accountant Partners

Insightful Accountant

The new financial operations platform for SMBs integrates category-leading solutions across accounts payable (AP), accounts receivable (AR), and spend and expense management.

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AICPA awards $400K in minority doctoral scholarships

Accounting Today

The move comes as firms try to widen the pipeline of young people entering the accounting profession, especially from diverse backgrounds.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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How Catalyst Plus Successfully Recouped $10,000 for a Client with the Help of Dext

Dext

About Catalyst Plus Julie-Anne Ellem, better known as Jewlz, is a powerhouse in the Australian accounting industry. Starting her career at a young age in Sydney, she’s come a long way from her small-town roots.

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Developing FedNow expertise enhances your value to business clients

Accounting Today

Learning to use the Federal Reserve's new payment system can be a competitive advantage for firms.

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Improving the AP End of Month Close Process

MineralTree

The end of month close process plays a vital role in ensuring the accuracy, integrity, and transparency of financial records for businesses of all sizes. Making this monthly ritual effective and efficient can mean the difference between informed decision-making and costly errors. Read on to learn the benefits of streamlining and optimizing the accounts payable month-end close process, including information on best practices and the role of automation in achieving operational excellence.

AP 76
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Get Connected by QuickBooks earns International ProAdvisor Award Points

Insightful Accountant

Insightful Accountant has evaluated the upcoming 'Get Connected by QuickBooks' event in Sydney and issued International ProAdvisor Award Points for the sessions being offered.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Small Business Invoice Factoring: What You Need to Know 

AvidXchange

Table of Contents: Small Business Financing Challenges | What is Small Business Invoice Factoring? | Is Invoice Factoring Right for Your Small Business? | How Does Invoice Factoring Work with AvidXchange’s Invoice Accelerator? Small business invoice factoring is a financing option that provides businesses with immediate access to cash. Many companies find it to be favorable compared to traditional business financing methods like bank loans and lines of credit.

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Future Forward 2023 Rewind: Boost Advisory Revenue with Microsoft's Power Platform, Azure & OpenAI

Insightful Accountant

The 'Future Forward 2023 Rewind' is back with a look at the latest tools and related services to help transform your business. DataHead Solutions' Pete Audenas takes center stage.

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High-Impact Communication to Retain and Grow Your Client Base

Dext

The accounting landscape has seen some drastic changes in recent years, spurred by advancements in technology and a rapidly evolving business environment. While these changes have streamlined a host of tasks with accounting automation, they’ve also raised the bar for what clients expect in terms of communication.

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What is Credit Card Reconciliation?: The 2023 Guide

Outsourced Bookeeping

The process carried out by companies and individuals alike to reconcile both credit card statements with internal records, like your receipts, invoices, etc., is called credit card reconciliation. It is recommended to conduct this process every month to identify any problems if they do exist easily but people conduct them depending on their availability and the number of transactions carried out, sometimes weekly, quarterly or even annually.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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How to build your own Zendesk Answer Bot with LLMs

Nanonets

Introduction In today’s fast-paced world, customer service is a crucial aspect of any business. A Zendesk Answer Bot, powered by Large Language Models (LLMs) like GPT-4, can significantly enhance the efficiency and quality of customer support by automating responses. This blog post will guide you through building and deploying your own Zendesk Auto Responder using LLMs and implementing RAG-based workflows in GenAI to streamline the process.

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Triple net lease definition

Accounting Tools

Related Courses Accounting for Leases What is a Triple Net Lease? A triple net lease is a leasing arrangement in which the tenant or lessee is responsible for paying all of the costs associated with a leased asset. For example, the tenant in a leased property is required to pay the rent , insurance , maintenance, and property taxes. When there are multiple lessees in a property, a tenant must also pay its share of the maintenance on common areas, usually based on a proportion of square footage l

Tax 40
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Trump complains he can't hear accountant during fraud trial

Accounting Today

Trump spoke out in apparent irritation after his lawyer complained he couldn't hear the testimony of the state's first witness, former Mazars USA LLP accountant Donald Bender, who often lowered his voice and mumbled answers.

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Triple bottom line definition

Accounting Tools

Related Courses Environmental Accounting Investor Relations Guidebook What is the Triple Bottom Line? The triple bottom line refers to the financial, social, and environmental results of a business. Each of these results focuses on a different activity – generating a financial return for investors , having a positive impact on people, and having a positive impact on the planet.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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The #1 City for Accountants and More Stories from The Accounting Podcast

Blake Oliver

Think you know the best cities for accountants? The number one spot may surprise you. Keeping up with the latest news in the profession can be challenging, but The Accounting Podcast makes it easy. In episode 352, my co-host David Leary and I break down need-to-know news, such as the top cities for accountants, how Donald Trump defrauded banks, tightened audit confirmation rules, the latest AI developments, and a surprising admission from a Deloitte CEO.

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Revenue expenditure definition

Accounting Tools

Related Courses Accountants’ Guidebook Bookkeeping Guidebook Cost Accounting Fundamentals What is a Revenue Expenditure? A revenue expenditure is a cost that is charged to expense as soon as the cost is incurred. By doing so, a business is using the matching principle to link the expense incurred to revenues generated in the same reporting period. This yields the most accurate income statement results.

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Charitable remainder trust definition

Accounting Tools

Related Courses Auditing Nonprofit Entities Nonprofit Accounting What is a Charitable Remainder Trust? A charitable remainder trust makes payments to one or more beneficiaries (usually the donor) for a certain period of time, after which the remainder of the funds in the trust are donated to a charity. A portion of the amount in this trust is tax deductible for the donor; this is the main point of having such a trust.

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Investor relations officer job description

Accounting Tools

Related Courses Investor Relations Guidebook An investor relations officer (IRO) is responsible for creating and presenting a consistently applied investment message to the investment community. The IRO is also responsible for monitoring and presenting to management the opinions of the investment community regarding the company's performance. To fulfill these responsibilities, an IRO is involved with the formulation and release of information to outsiders, as well as with the handling of inquiri

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.

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Credit manager job description

Accounting Tools

Related Courses Credit and Collection Guidebook Essentials of Collection Law The Interpretation of Financial Statements A credit manager is responsible for the entire credit granting process. This includes the consistent application of a credit policy , periodic credit reviews of existing customers , and assessing the creditworthiness of potential customers.

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Investment banker job description

Accounting Tools

Related Courses Corporate Finance An investment banker assists clients with either fund raising or merger and acquisition activity. In the latter case, the level of specialization may extend to just offering advice on certain types of tax-specific transactions, or in regard to corporate spin-offs or reorganizations. In addition, an investment banking firm may have a number of levels through which a person is expected to advance, such as analyst, associate, vice president, and managing director.

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Internal auditor job description

Accounting Tools

Related Courses Internal Auditing Guidebook An internal auditor is responsible for reviewing a company’s processes, identifying anomalies, and reporting any issues found to management. The outcome of this work should be a series of process improvements and adjustments to control systems, so that a business operates more efficiently and effectively , while mitigating risk.

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Agricultural cooperative definition

Accounting Tools

Related Courses Accounting for Vineyards and Wineries Agricultural Accounting What is an Agricultural Cooperative? An agricultural cooperative is a business association into which farmers pool their resources. By doing so, farmers can increase their revenues , reduce costs or share risks , depending on the type of cooperative. There are two types of farmers that interact with a cooperative.

Tax 40
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Unlock The Blueprint: How To Construct A Better Payment Workflow

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.