Mon.Dec 18, 2023

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11 things we’ve learned about using AI together

Intuit

AI is changing the game across industry sectors around the world. While some companies are struggling to upskill their workforce in this supercharged environment, Intuit is staying a step ahead. Shannon Orr, Intuit’s assistant general counsel for AI, says, “We want to be innovators. We want to experiment.” That’s why we’re encouraging our employees to explore a wide variety of use cases with AI and generative AI (GenAI).

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IRS expands business tax accounts

Accounting Today

Individual partners and individual shareholders of S corps can now get a business tax account.

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Intuit Launches New Global Brand - 'Business Differently'

Insightful Accountant

Intuit has announced a new global QuickBooks brand platform, “Business Differently,” focused on the growing population of solopreneur small business owners.

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What can AI do, anyway?

Accounting Today

Key to discussion on what AI means for accountants is understanding what AI can and cannot do.

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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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Practical AI: Drafting Policies & Procedures

Blake Oliver

Drafting policies and procedures docs was one of my least favorite tasks as a business owner. But now I love it. This year, I started using AI to write my first drafts of policies and process docs for my team. It cuts the time in half, and I get better results. Watch the video to learn two ways to get started using AI chatbots to draft documentation: ✔️ Use a Q&A prompt to have AI give you a list of questions.

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Take advantage of shifting RMD rules with these year-end strategies

Accounting Today

Clients who have squirreled away their savings in IRAs and other retirement accounts have new tools at the ready amid shifting rules, four experts said.

More Trending

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Rethinking compliance as ESG requirements emerge

Accounting Today

As ESG reporting regimes solidify, organizations need to start preparing their teams.

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QBO Monday Minute | Balance Sheet Budgeting in QuickBooks Online

Insightful Accountant

Join Liz Scott as she dives into QuickBooks Online Balance Sheet Budgeting feature which is fairly new.

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PwC moves to acquire design and engineering firm Surfaceink

Accounting Today

Big Four firm PwC announced it has signed an agreement to acquire technology-focused engineering and design firm Surfaceink as part of the company's larger move towards technology solutions.

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Substantive testing definition

Accounting Tools

What is Substantive Testing? Substantive testing is an audit procedure that examines the financial statements and supporting documentation to see if they contain errors. These tests are needed as evidence to support the assertion that the financial records of an entity are complete, valid, and accurate. There are many substantive tests that an auditor can use.

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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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FASB releases GAAP, SEC taxonomies

Accounting Today

The SEC is expected to approve the taxonomies in early 2024.

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Drake Software: Streamlining Tax Management for Businesses

Ace Cloud Hosting

Maintaining financial stability and regulatory compliance is crucial for businesses, and Drake Software stands out as a game-changing tool for managing and preparing taxes. Drake Software is designed for both.

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Top bank advisor admits turning 'blind eye' in tax scandal

Accounting Today

'In reality, I didn't want to know the whole truth,' the Freshfields lawyer told the judges at his Frankfurt trial.

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The Young CPA Perspective on the Talent Shortage

Earmark Accounting Podcast

Blake is joined by two "Young" CPAs, Hannah Hood, and Joey Kinney, both virtual CFOs with Summit Virtual CFO by Anders. Among the topics of discussion are challenges for young accountants including low starting salaries, lack of flexibility and career path at traditional firms, the value of remote work, and the need for more women leaders and work-life balance in the accounting industry.

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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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Art of Accounting: New York Dead

Accounting Today

The Stuart Woods novel shows a way to negotiate fees with prospective clients.

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Collaborative Accounting: Enhancing CPA-Client Work

Invoicera

The accounting world is shifting toward collaboration! Collaborative Accounting is a transformative approach to reshaping how CPAs and clients work together. Collaboration unlocks success in the accounting profession, fostering stronger relationships and delivering exceptional results. Traditionally, the CPA-client relationship has been characterized by a one-sided flow of information, resulting in inefficiencies and missed opportunities.

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8 Ways to Use AI for Community Association Management 

AvidXchange

The community association management industry plays a large part in enriching the quality of life for millions of homeowners. From common area maintenance to financial management to events production, association managers are responsible for a gamut of duties. To streamline operations, community managers are embracing artificial intelligence (AI).

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Which Foundation Models to Choose in AWS Bedrock?

Economize

Amazon Bedrock leverages foundation models (FMs) to revolutionize the construction of generative AI applications. It offers a rich selection of FMs from prominent AI pioneers like OpenAI, Anthropic, Meta, AI21 Labs, and more, with Retrieval Augmentation Generation for relevant, fine-tuned responses.

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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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W-8BEN

Tipalti

Discover the purpose of Form W-8BEN and when it’s essential for international tax compliance. This article serves to simplify tax obligations for your business and suppliers.

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Jacobs Law Group's Brigade Breakthrough

Brigade

Watch the video below and check out the Q & As below to learn how this Florida-based dental practice benefits from working with Brigade:

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1099 NEC vs 1099 MISC

Tipalti

Businesses need to understand when to use Form 1099-NEC vs. 1099-MISC to ensure accurate reporting and compliance with IRS tax laws. Here’s everything to know.

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Orderwerks @ QuickBooks Connect 2023

Insightful Accountant

Orderwerks is an all-in-one B2B eCommerce platform. Use it to keep track of orders, manage inventory, track key business statistics, and more.

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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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1099 NEC Instructions

Tipalti

Payers send a copy of the completed 1099 information returns to the payee, the IRS, and states with income tax. The payers batch all 1099-NEC returns completed using transmittal form 1096 when they file form 1099-NEC with the IRS. Form 1096 is titled Annual Summary and Transmittal of U.S. Information Returns.

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Key Tax Law Changes - Webinar Archive

Insightful Accountant

The December episode of TPN Tax Talks featured Christine Gervais sharing what's new for tax season and her list of key changes to be aware of.

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How to record construction-in-progress charges

Accounting Tools

What is Construction-in-Progress? Construction-in-progress (CIP) is an account in which the costs incurred to build a fixed asset are stored. This account is only used while an asset is being constructed, after which the total cost is shifted to another fixed asset account. This account typically contains the costs of labor, materials, and overhead incurred during a construction project.

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Re-Leased @ QuickBooks Connect 2023

Insightful Accountant

Manage, track and improve property management like never before — all in the Re-Leased connected cloud.

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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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Audit failure definition

Accounting Tools

What is Audit Failure? An audit failure occurs when an auditor deviates from the applicable professional standards in such a way that the opinion contained in his or her audit report is false. This can be a major problem when there are material misstatements in the client’s financial statements. This can result in financial statement users making incorrect decisions based on those statements.

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What is W-8BEN-E

Tipalti

Understand the purpose of the W-8BEN-E form and who must complete it. Essential insights for foreign entities earning income in the U.S. tax landscape.

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Price taker definition

Accounting Tools

What is a Price Taker? A price taker is a business that sells such commoditized products that it must accept the prevailing market price for its products. For example, a farmer produces wheat, which is a commodity; the farmer can only sell at the prevailing market price. As another example, individual investors are considered to be price takers in the stock market.

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W-8ECI

Tipalti

Learn how to complete Form W-8ECI and claim U.S. tax exemptions for foreign entities. Step-by-step article to accurate tax withholding compliance.

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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.