Fri.Mar 22, 2024

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Tech news: KPMG Digital Gateway adds gen AI capacities

Accounting Today

KPMG Digital Gateway adds gen AI capacities; Chime now offers in-app tax filing; Financial Cents new ReCats tackles uncategorized client transactions; and other accounting tech news

Tax 321
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Here’s how women at Intuit inspire inclusion

Intuit

March is a special month because it honors the contributions and achievements women have made throughout history. The theme for Women’s History Month in 2024 is inspiring inclusion, which recognizes the importance of embracing everyone and excluding no one. At Intuit, we recognize that individuals are multi-layered, and their experiences shape who they are.

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IRS tries to catch up on backlog as returns flood in

Accounting Today

The Internal Revenue Service has been making progress on catching up with its backlog of unprocessed tax returns, but more work needs to be done, according to a new report.

Tax 299
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Interview with AI: How useful is it

Bookkeeping Express

As Artificial Intelligence (AI) moves to the top of the buzzwords in today’s business world, we decided it was time to take it out for a spin and test its insights. We asked ChatGPT, Google’s free AI engine, some of the more pertinent questions for business owners. See some of those questions and answers below, as well as an exclusive look at how BKE is training an AI engine to provide even more useful information to our clients.

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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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IRS ERC compliance effort stops billions in dubious claims

Accounting Today

The Internal Revenue Service's efforts to halt fraudulent claims for the Employee Retention Credit have protected more than $1 billion since the IRS instituted a processing moratorium.

Tax 290
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How Expat Clients Can Legally Slash Their Tax Bill

Earmark Accounting Podcast

Do you have clients living or working abroad who could save big on their taxes? In this episode, expat tax specialist Vincenzo Villamena outlines creative strategies US citizens overseas can use to legally reduce their tax burden. Learn how your expat clients can exclude $120,000 in foreign earned income, set up offshore corporate structures to cut their tax rate in half, eliminate 15% self-employment tax, and more.

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More Trending

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Azure Functions vs Logic Apps: Comparison and Use Cases

Economize

Introduction As businesses grow, their need to handle large volumes of data and tasks increases. Automation and workflow integration help businesses scale their operations and eliminate the need for human intervention in repetitive, daily tasks.

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Ex-Credit Suisse client indicted over hiding money from IRS

Accounting Today

Dan Rotta, 77, was charged in Miami with hiding assets from the IRS in two dozen secret Swiss accounts between 1985 and 2020.

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Is Accounts Payable Automation a Good Investment?

NextProcess

The accounts payable department is responsible for managing a company’s payments. It’s uniquely positioned to help manage cash flow and support responsible financial management. Naturally, you want the method for managing accounts payable to support good financial decisions. Deciding whether to invest in updated accounts payable (AP) processing might not be an easy decision.

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On the move: PKF Texas chief culture officer named to local Women's Hall of Fame

Accounting Today

PBMares establishes new risk advisory consulting practice; Weaver adds a tax partner; and more news from across the profession.

Tax 289
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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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A Comprehensive Guide About Usage-Based Billing Software

Billing Platform

A popular billing model, usage-based pricing (also referred to as metered services or pay-as-you-go pricing) is a consumption-based pricing model that allows customers to pay only for what they consume. Largely used among utility companies, rideshare companies, etc., this monetization model is also well-suited for software-as-a-service (SaaS) companies.

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Senators introduce bill to remove tax breaks for mergers

Accounting Today

An unlikely pair of lawmakers is teaming up to propose legislation to eliminate tax breaks for corporate M&A activity.

Tax 290
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10 QuickBooks Efficiency Hacks For Streamlining Your Financial Management in 2024

Outsourced Bookeeping

Efficiency is critical in the dynamic field of financial management. By 2024, firms looking to optimize their financial operations will find that knowing QuickBooks is a necessity. QuickBooks may become an extremely powerful tool for streamlining financial management with the correct hacks. Some of the most effective QuickBooks efficiency tips that can improve your money management procedures in 2024 are covered in this guide.

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Leveraging technology to address accounting errors

Accounting Today

As accounting leaders use technology to increase efficiency and reduce workloads, they're finding further benefits in the form of improved accuracy and quality.

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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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Is Accounts Payable Automation a Good Investment?

NextProcess

The accounts payable department is responsible for managing a company’s payments. It’s uniquely positioned to help manage cash flow and support responsible financial management. Naturally, you want the method for managing accounts payable to support good financial decisions. Deciding whether to invest in updated accounts payable (AP) processing might not be an easy decision.

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A secret weapon for growth: market research

Accounting Today

A new Hinge study details the marketing tactics of high-growth accounting firms.

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Time Management Tips for Accounting and Finance Professionals  

AvidXchange

During the course of a year, certain periods can be stressful within accounting and finance departments, as teams are asked to keep up with their day-to-day responsibilities while taking on extra work. This article will provide time management tips for accounting and finance professionals and explain how they can use technology to help navigate busy seasons.

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IRS expands energy credit guidelines

Accounting Today

Notice 2024-30 expands rules for determining an "energy community," among other things.

Tax 195
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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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What is a Fractional CFO – And How Do I Find One?

Nanonets

Smaller businesses often push aside big-picture and strategic financial concerns as they launch and ramp up operations. Most founders and owners, while focusing on the basics of profit and loss, roughly outlined balance sheets, and similar essentials, neglect the complex financial framework that is crucial for evolving a company into a sustainable and mature entity – especially if aiming for a liquidity event, seeking external funding, or prepping for a rapid growth phase.

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Grifols drops as regulator finds 'relevant deficiencies'

Accounting Today

Grifols SA shares dropped as investors evaluated a regulatory review of the Spanish bio-science company's financial reports, which found "relevant deficiencies" but no major accounting mistakes.

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Delayed Dollars: The Impact of Late Payments on Growing Oil & Gas Companies

FundThrough

The North American oil and gas sector is on the brink of significant growth, with forecasts showing an increase in activity and investments, marking a period of opportunity. Goldman Sachs Research highlights a 25% increase in major projects since 2020. Yet, despite this positive outlook, small oil and gas companies are encountering a range of critical […] The post Delayed Dollars: The Impact of Late Payments on Growing Oil & Gas Companies appeared first on FundThrough.

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China scrutinizes PwC role in $78B Evergrande fraud case

Accounting Today

Chinese authorities are ramping up pressure on the global accounting giant that audited a slew of developers before the sector's meltdown.

Auditing 140
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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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Small Businesses Are Not a Niche

Blake Oliver

via CPA Trendlines Small businesses are not a niche. Professional services are not a niche. Individuals are not a niche. Mid-size businesses are not a niche. So why are these the top four “niches,” according to a survey of accounting firm owners ? It must be because most of them don’t understand what a niche is. In short, a niche is a small, specific, and well-defined audience with unique needs, preferences, or characteristics.

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A primer on IRS tax avoidance promoter penalties

Accounting Today

With the IRS continuing to launch promoter audits, it is important that anyone subject to such an audit consider a few strategic issues.

Auditing 133
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Leading Automated Billing Software: Companies Reshaping Invoicing In 2024

Invoicera

Introduction You might be overwhelmed by a lot of paperwork and hours spent on manual invoicing! Not only are you struggling! Inefficient billing processes can be hectic for anyone, be it startups, medium-sized companies, or large enterprises. But guess what! There is good news. Bringing automated invoicing into your business can be really helpful and increase your productivity.

Billing 52
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Ex-Steinhoff CEO Jooste's death came after arrest warrant

Accounting Today

Markus Jooste allegedly took his own life after being notified of arrest warrants over an accounting scandal.

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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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10 pop bands featuring accountants - or do they?

Accounting Fun

Ledger Zeppelin The Rolling Balances Fleetwood Macroeconomics The Balance Sheetles The Fiscal Fighters The Profit Margin Boys The Doublie Entry Bothers The Black Eyed P&Ls Cashabian ABBA (Accountants Balancing Books Always)

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Deficiency claim definition

Accounting Tools

What is a Deficiency Claim? A deficiency claim is that portion of a claim secured by a lien on property that exceeds the value of the property. In this case, the creditor is granted a secured interest up to the value of its collateral , while any excess amount of its claim over the value of the collateral is classified as an unsecured claim. This unsecured portion of the claim is the deficiency claim.

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Top Tipalti competitors and alternatives for AP automation

Nanonets

Tipalti is a market leader in AP automation. Their comprehensive platform handles everything from onboarding suppliers to processing invoices and making global payments. It's no wonder they've won over many businesses, especially mid-market companies looking for an end-to-end AP solution. But here's the thing—there's no one-size-fits-all solution.

AP 52
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Cash collateral definition

Accounting Tools

What is Cash Collateral? Cash collateral is cash , negotiable instruments, documents of title, securities , deposit accounts, and other cash equivalents in which a bankrupt estate and its creditors have an interest. In the absence of a court order to the contrary, cash collateral must be segregated from other assets. When the court orders that cash collateral can be used, creditors are typically protected with new liens on other debtor assets, to the extent that the debtor’s use of the cash coll

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.