By the numbers: Industry niches, standard deductions and more
Accounting Today
OCTOBER 22, 2024
The latest data on how accounting firms spend time serving CAS clients, current and projected standard deductions, and other key metrics.
Tue.Oct 22, 2024
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When Venture Capital Flies High, Accounting Services Crash Hard
Accounting Department
OCTOBER 22, 2024
In the fast-paced world of small and medium-sized businesses (SMBs) and startups, reliable accounting services are crucial. Recently, a new trend has emerged—accounting firms operated with the help of venture capital funding. On the surface, these services may appear attractive due to their low costs and initial benefits. However, SMB owners, entrepreneurs, and finance professionals need to tread carefully.
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IRS adjusts tax amounts for inflation for 2025
Accounting Today
OCTOBER 22, 2024
The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.
Understanding Differences Between Checking and Savings Accounts
Intuit
OCTOBER 22, 2024
Checking account vs. savings account: The differences If you’ve just started managing your own money, you’ve probably heard about the two main types of bank accounts: checking and savings. Since 94% of U.S. households have a checking or savings account, chances are you already have one of these types of accounts. However, you might still be unsure about how they differ and why you should choose one over the other.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
After the election: What's next
Accounting Today
OCTOBER 22, 2024
Regardless of the election results, we will see some tax legislation next year, says one expert.
Understanding Differences Between Checking and Savings Accounts
Intuit
OCTOBER 22, 2024
Checking account vs. savings account: The differences If you’ve just started managing your own money, you’ve probably heard about the two main types of bank accounts: checking and savings. Since 94% of U.S. households have a checking or savings account, chances are you already have one of these types of accounts. However, you might still be unsure about how they differ and why you should choose one over the other.
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Financial Literacy for College Students
Intuit
OCTOBER 22, 2024
Financial literacy for college students: tips and essential concepts to know College is a life-changing experience that sets the stage for your entire future. Yet there’s such little focus on helping future and current college students achieve financial literacy. According to the Education Data Initiative , student loan debt in the US is $1.75 trillion, spread among nearly 43 million borrowers.
PCAOB sanctions, bans firm and bars partner
Accounting Today
OCTOBER 22, 2024
The Public Company Accounting Oversight Board imposed a $50,000 fine, revoked the firm's registration and barred its partner.
Contra asset definition
Accounting Tools
OCTOBER 22, 2024
What is a Contra Asset? A contra asset is a negative asset account that offsets the asset account with which it is paired. The purpose of a contra asset account is to store a reserve that reduces the balance in the paired account. By stating this information separately in a contra asset account, a user of financial information can see the extent to which a paired asset should be reduced.
Accountants more pessimistic about global economy
Accounting Today
OCTOBER 22, 2024
Global confidence among accountants globally declined in the third quarter to its lowest level since 2023, although confidence increased in North America.
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.
Stock ledger definition
Accounting Tools
OCTOBER 22, 2024
What is a Stock Ledger? A stock ledger lists the share -related transactions of a company. It states the name of the owner of each block of shares, as well as the number of shares owned by each investor, the type of shares purchased, the date of each purchase and the amount paid. A stock ledger can be structured as a table, which is updated to reflect all sales, repurchases, or transfers of stock.
In the blogs: Profound effects
Accounting Today
OCTOBER 22, 2024
Local measures galore; AI to the rescue; franchisees' checklist; and other highlights from our favorite tax bloggers.
How to Acumatica - Match Bank Receipt Transactions
Insightful Accountant
OCTOBER 22, 2024
Murph looks at how to match a bank receipt transaction to a debit adjustment in Acumatica when users are running 2024R2.
Microsoft launches AI agents, deepening rivalry with Salesforce
Accounting Today
OCTOBER 22, 2024
The Redmond, Washington-based software maker said it would roll out 10 "autonomous agents" to complete tasks on behalf of people in areas such as sales, customer support and accounting.
2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)
Advertiser: Paycor
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!
Murph's ERP Alternatives to QuickBooks is tomorrow, Thursday, October 24th
Insightful Accountant
OCTOBER 22, 2024
Tomorrow, Murph is presenting a 'Be Insightful' program covering ERP Alternatives to QuickBooks. The program includes the 10/24/24 webinar, a Blue Paper, and a follow-up Question & Answer workshop.
How CPAs can manage deadlines and reduce year-end stress
Accounting Today
OCTOBER 22, 2024
CPAs and accounting firms live (or die) by calendars and clear communication, with daily and annual deadlines.
Streamlining HR with AI: Insights for Accounting Firms with Michelle LeBlanc
Insightful Accountant
OCTOBER 22, 2024
Join Gary DeHart and HR expert Michelle LeBlanc as they dive into streamlining HR with AI and insights for accounting firms.
Accounts Payable Trends: What to Expect in the Coming Years
oAppsNet
OCTOBER 22, 2024
Accounts Payable (AP) is a critical business function. It manages outgoing payments to suppliers, vendors, and other creditors. Traditionally, this process involved manual tasks like invoice processing, approvals, and payment disbursement, which were prone to errors and inefficiencies. However, with technological advancements and changing business environments, the accounts payable landscape is rapidly evolving.
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
Selling expense | Sales expense definition
Accounting Tools
OCTOBER 22, 2024
What is Selling Expense? Selling expense (or sales expense) includes any costs incurred by the sales department. These costs typically include the following items: Salesperson salaries and wages Sales administrative staff salaries and wages Commissions Payroll taxes Benefits Travel and entertainment Facility rent / showroom rent Depreciation Advertising Promotional materials Utilities Other departmental administration expenses If the marketing function is merged into the sales department, then a
Be Insightful - Join Before October 29!
Insightful Accountant
OCTOBER 22, 2024
Join Insightful Accountant's Be Insightful Premium Content and training program before October 29 and you will be entered into a drawing for a $5000 travel voucher.
Why TurboTax's 'Break Up With Your Tax Pro' Ad Hit a Nerve
Blake Oliver
OCTOBER 22, 2024
TurboTax's "break up with your tax pro" ad touched a nerve in the accounting world. And you know what? Maybe it’s because they have a point. Intuit’s TurboTax ad pull fuels tension within accounting culture Published Oct. 21, 2024 I got quoted in a CFO.com article about this mess, and here's my take: The customer in Intuit’s ad says she’s leaving her accountant for: A TurboTax expert who charges me less but gives me more.
Thomson Reuters Acquires Materia
Insightful Accountant
OCTOBER 22, 2024
Thomson Reuters acquires Materia - a specialist in agentic AI for the tax, audit and accounting profession.
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.
Stock exchange definition
Accounting Tools
OCTOBER 22, 2024
What is a Stock Exchange? A stock exchange is an organized market in which securities are bought and sold. Securities are only traded on an exchange if issuers meet the reporting and financial stability requirements set by the exchange. A stock exchange can be used by issuers to sell new securities to investors, or by investors to trade existing securities amongst themselves.
Bill360 Introduces Enhancements To Its AR Automation Platform
Insightful Accountant
OCTOBER 22, 2024
Bill360, an end-to-end accounts receivable (AR) automation platform that accelerates cash flow by 20% – 30% for accountants and most B2B small-to-medium-sized business clients is launching new features at Intuit Connect.
Fiscal year-end definition
Accounting Tools
OCTOBER 22, 2024
What is the Fiscal Year-End? Year-end refers to the conclusion of an organization's fiscal year. Many firms observe a calendar year end, in which case their year-end is December 31. Other organizations observe different fiscal years, which result in other year-end dates. For example, a business that observes a fiscal year beginning on February 1 would have a year-end of January 31.
Beginner's Guide to Ministral
Nanonets
OCTOBER 22, 2024
What is Ministral? Ministral is a series of Large Language Models launched by Mistral AI in October 2024, which includes Ministral 3B (3 billion parameters) and Ministral 8B (8 billion parameters), designed specifically for on-device computing and edge applications. These models support up to 128k context length. With a unique sliding-window attention mechanism , Ministral models deliver efficient inference in resource-constrained environments , making them ideal for tasks like on-device t
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.
Early extinguishment of debt
Accounting Tools
OCTOBER 22, 2024
What is the Early Extinguishment of Debt? Early extinguishment of debt occurs when the issuer of debt recalls the securities prior to their scheduled maturity date. This is possible when the issuer specifies in the debt agreement that the debt is callable at a certain redemption price, and then calls the debt. This action is usually taken when the market rate of interest has dropped below the rate being paid on the debt.
US extends 25% chip tax credit to wafers, including solar
Accounting Today
OCTOBER 22, 2024
The Biden administration finalized rules for a 25% tax credit for semiconductor manufacturing projects, expanding eligibility for what is likely to be the largest incentive program from the 2022 Chips and Science Act.
Credit report definition
Accounting Tools
OCTOBER 22, 2024
What is a Credit Report? A credit report summarizes a person's credit history and current credit circumstances. The report is used by lenders to decide whether to grant you a loan, and the interest rate to charge; these decisions are based on the risk information stated in the credit report. The report can also be used by a creditor to adjust the amount of trade credit granted to you.
Salaries payable definition
Accounting Tools
OCTOBER 22, 2024
What are Salaries Payable? Salaries payable is a liability account that contains the amounts of any salaries owed to employees, which have not yet been paid to them. The balance in the account represents the salaries liability of a business as of the balance sheet date. This account is classified as a current liability , since such payments are typically payable in less than one year.
Back to Basics with Reconciliations
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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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