Mon.Dec 18, 2023

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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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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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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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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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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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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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Something new is coming to Insightful Accountant!

Insightful Accountant

Insightful Accountant's cooking up something new for you next year. A new and exciting webinar series: Insightful Accountant's Practice Management Talks.

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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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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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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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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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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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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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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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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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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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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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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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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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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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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.

Tax 52
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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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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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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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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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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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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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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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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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Backup Withholding

Tipalti

Understand who is and isn’t subject to backup withholding–and what it could mean for your business. Navigate the tax landscape with confidence.

Tax 40
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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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File 1099 Online

Tipalti

Simplify the process of filing 1099s for taxes. Follow our quick guide to learn how to automate 1099 filing securely and accurately online.

Tax 40
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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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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.