Tue.Jun 25, 2024

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The best states to be middle class

Accounting Today

Middle-class residents in these states pay a smaller percentage of their paychecks to taxes.

Tax 349
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More About QuickBooks Solopreneur

Insightful Accountant

Earlier this year, Intuit introduced a new version of QuickBooks Online for solopreneurs, it's designed for individuals who submit IRS Form 1040 - Schedule C tax filings.

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Framework provides starting point for gen AI governance

Accounting Today

A coalition of accounting educators and tech leaders released a generative AI governance framework as a starting point for organizations.

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T account definition

Accounting Tools

What is a T Account? A T account is a graphic representation of a general ledger account. The name of the account is placed above the "T" (sometimes along with the account number). Debit entries are depicted to the left of the "T" and credits are shown to the right of the "T". The grand total balance for each "T" account appears at the bottom of the account.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Automate your billing to increase profits: 5 tips for CPA firms

Accounting Today

Collecting payments is essential for business operations, but it's often not a top priority for business owners who are juggling numerous other tasks and demands daily.

CPA 229
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5 Common Invoicing Mistakes Tree Service Companies Should Avoid

Outsourced Bookeeping

Are you in a financial bind due to invoice errors that are costing you a significant amount of money? The importance of accurate invoicing cannot be overstated. It’s not just about getting paid, it’s about the financial health and reputation of your business. Superficially, invoicing may seem like a straightforward and tedious task that might not require a business owner’s attention.

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How to automate invoice coding: A practical AP guide

Nanonets

Invoice coding involves categorizing expenses and assigning them to specific accounts. It seems simple, which is why it's often overlooked in AP efficiency discussions. But here's the kicker: it may be costing you more than you think. Companies without automation spend $6.30 per invoice , while automated counterparts pay just $1.45. That's right— automation could save you nearly 77% per invoice!

AP 52
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SCOTUS rules mandatory repatriation tax constitutional

Accounting Today

In a narrow holding, the Supreme Court upheld the provision, but emphasized that the ruling did not have broader implications.

Tax 198
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Fixed asset definition

Accounting Tools

What is a Fixed Asset? A fixed asset is property with a useful life greater than one reporting period , and which exceeds an entity's minimum capitalization limit. A fixed asset is not purchased with the intent of immediate resale, but rather for productive use within the entity. Also, it is not expected to be fully consumed within one year of its purchase.

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BDO releases audit quality report, adds to advisory council

Accounting Today

BDO USA released its 2023 Audit Quality Report Tuesday as it added a second independent member to its Audit Quality Advisory Council.

Auditing 173
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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Collections Forecasting – Key Things to Watch

Gaviti

Wouldn’t it be nice to be able to accurately predict your future cash flow? You could better allocate funds and make more informed business decisions. Luckily, you can with accounts receivable forecasting. Accounts receivable forecasting is like having a financial crystal ball. While it might be a challenge, depending on how you manage your accounts receivable, forecasting is a powerful tool to help you grow your business.

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In the blogs: Moore to come? 

Accounting Today

Disaster planning; the flipside of an Employee Retention Credit mess; the QoE; and other highlights from our favorite tax bloggers.

Tax 140
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Intuit QuickBooks releases 2024 Accountant Tech US Trends Survey

Insightful Accountant

New survey looks into the ways accountants are using technology, particularly AI, to balance business performance and industry challenges in today's macroeconomic environment.

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Ken Griffin's data leak suit against IRS ends in settlement

Accounting Today

The Internal Revenue Service agreed to settle a lawsuit brought by hedge fund manager Ken Griffin that accused the agency of failing to protect his confidential financial information from a contractor who stole his tax data and leaked it to ProPublica.

Tax 140
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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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QuickBooks Cloud Accounting: Prioritizing Security in Cloud-Based Accounting (Blog Series Part – 4)

Ace Cloud Hosting

Welcome to our 4th blog of the series, “QuickBooks Cloud Accounting,”- where we explore the importance of prioritizing security, highlighting the potential risks and the measures necessary to safeguard financial.

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Communicate a scheduled tax season to your clients and team

Accounting Today

When you announce the new tax season to your clients, let them know it's a new benefit you're offering to your customers.

Tax 133
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How To Leverage Supplier Management for Strategic Success

oAppsNet

As a business owner, partnering with a reliable and trustworthy supplier is not just a necessity, but a strategic move that can significantly influence the growth of your business. By establishing a solid relationship with your supplier, you open doors to enhanced efficiency, cost savings, and innovation. This is where the true value of supplier management shines.

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Amortization expense definition

Accounting Tools

What is Amortization Expense? Amortization expense is the write-off of an intangible asset over its expected period of use, which reflects the consumption of the asset. This write-off results in the residual asset balance declining over time. Accounting for Amortization Expense Amortization is almost always calculated on a straight-line basis. Accelerated amortization methods make little sense, since it is difficult to prove that intangible assets are used more quickly in the early years of thei

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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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QuickBooks Cloud Accounting: Best Practices for Choosing Your Hosting Provider (Series Part – 3)

Ace Cloud Hosting

We already know how cloud accounting has become an essential tool for businesses in the current digital era, particularly those in the finance industry. QuickBooks Cloud Accounting offers unparalleled convenience.

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Preaudit definition

Accounting Tools

What is a Preaudit? A preaudit is preliminary work conducted by an auditor prior to the scheduled start date of an audit. The intent of a preaudit is to gather preliminary information about the client, which can be used to highlight any areas that may require special attention during the audit. The findings from the preaudit are then considered when deriving the budget for the audit.