Thu.Nov 16, 2023

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The best small-biz acct'g software, and other tech stories you may have missed

Accounting Today

Plus, Google wants you to ditch passwords, and eight other things that happened in technology this past month and how they'll impact your clients and your firm.

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Transforming GovCon Accounting with Technology

Accounting Department

The government contracting sector is highly regulated and requires strict compliance with Defense Contract Audit Agency (DCAA) regulations. With ever-evolving regulations and a complex accounting system to manage, the government contract (GovCon) industry has a steep learning curve for small and medium-sized contractors.

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IRS will receive 30M more 1099-Ks

Accounting Today

Thanks to the lower threshold, the service expects to receive about 44 million 1099-Ks in 2024, up from about 14 million.

Tax 347
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Debunking Common Myths about DCAA Compliant Timekeeping

Insightful Accountant

Navigating DCAA compliance can be daunting for contractors. Misinformation and myths add to the confusion. In this article, we debunk common myths about DCAA compliant timekeeping.

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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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EY names Janet Truncale as first female global CEO of Big Four firm

Accounting Today

Truncale most recently was the regional managing partner for EY's financial services organization in the Americas, which includes 14,000 professionals.

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New Sage Intacct Features Give Deeper Insights and Automation to Help Drive Better Business Decisions

Insightful Accountant

New Sage Intacct release extends capabilities to consolidate financials for complex ownership structures, improve project management, integrate ministry financials, improve 1099 e-filing and respond to governance expectations

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New ProAdvisor Training and Exams Available

Insightful Accountant

Intuit is "All In With ProAdvisors", so 'New' ProAdvisor training and certifications have just been released. Intuit will offer a QuickBooks Training and Certification Bootcamp in early December.

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PCAOB fines doubled in recent years

Accounting Today

The board voted to approve a new budget for fiscal 2024 and revealed it surpassed last year's record amount of fines.

Budgeting 299
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How to Conduct a Cash Flow Analysis

MineralTree

Conducting a cash flow analysis is an integral part of running a business — dedicating time to this process can mean the difference between barely surviving and thriving. However a cash flow analysis is only as valuable as your ability to understand and interpret the results. By assessing your cash inflows and outflows, you can gain valuable insights into your organization’s financial health, helping you make informed decisions to sustain and scale your operations.

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Tax Fraud Blotter: Two-timers

Accounting Today

Shell of a way to work; RICO rip-off; fun with refunds; and other highlights of recent tax cases.

Tax 298
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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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9 Must Watch Movies/TV Series For CPAs and Accountants in 2024

Ace Cloud Hosting

CPAs and accountants play an integral role in the functioning of every small and large business. With multiple tasks, work for these accountants can get hectic at times. Watching movies.

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Plante Moran's new MP looks ahead to $2B

Accounting Today

Jason Drake will be taking the helm next July and hopes to grow it into a $2 billion firm.

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Top 10 Subscription Management Tools of 2024

Invoicera

By 2025, the subscription economy will reach a market size of $1.5 trillion. Source: UBS Wealth Management If you own a subscription business, you might be looking for a tool to make your financial management easier. Before choosing any tool, a lot of questions can come to your mind like: How to pick the best subscription management tool when so many are out there?

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How certain small business stock could supercharge tax savings

Accounting Today

Financial advisors and tax professionals working with entrepreneurs and potential startup investors should consider an often-overlooked exemption, experts say.

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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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Quotes, Estimates, Bids, Proposals: What’s the Difference?

Invoicera

Confused between quotes, estimates, bids, and proposals? Well! Not only you, but many get. All the terms sound similar, and that’s why we often make the mistake of using the wrong term in the wrong place. Bids, proposals, quotes, and estimates have different meanings and their usage differs for every industry & business. If you are a business, using the wrong terminology can negatively impact the reputation, and might create trust issues with clients.

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Internal auditors optimistic on economy, talent, but risks remain

Accounting Today

A recent survey has found internal auditors are optimistic about the economy and about the availability of talent going into 2024 despite ongoing risks in both areas.

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Outsourcing vs. In-house Bookkeeping for Franchisees: Making the Right Choice

Bookkeeping Express

Effective bookkeeping is a crucial aspect of running a successful franchise operation. Accurate and organized financial records are essential for compliance with franchisor standards, informed financial decision-making, meeting tax obligations, and maintaining healthy relations with investors and lenders. As a franchisee, you face a crucial decision: should you outsource your bookkeeping services or manage them in-house?

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Nepsis acquires SBGB

Accounting Today

Nepsis, a Minneapolis-based financial advisory and investment management firm, has acquired Sevenich, Butler, Gerlach, & Brazil, a tax, accounting and consulting firm in Saint Paul, Minnesota.

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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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Mastering Work-Life Balance: Tips for Accountants in the Busy Tax Season

Ace Cloud Hosting

This is guest post by Sam Klaas. As the calendar flips closer to tax season, accountants worldwide can hear a distant clock ticking, almost like the ominous score to a.

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Go back to basics before busy season to drive resilience

Accounting Today

By focusing on areas where they can drive efficiency, firms can reduce stress in the years ahead.

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How Prevent Embezzlement and Theft as a Business Owner?

Remote Quality Bookkeeping

Many people start businesses with stars in their eyes. They only imagine the ideal scenario in which customers love their product or services, employees are loyal and trustworthy, payroll and benefits flow smoothly, and their bank account grows continuously year after year. This isn’t a description of reality, of course, because real life is messy and business is even messier.

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Pentagon fails its financial audit for sixth straight year

Accounting Today

Pentagon officials nonetheless claimed significant progress in tracking its assets and correcting hundreds of deficiencies in its accounts.

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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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3 Things To Know If You Hire Freelancers

Remote Quality Bookkeeping

Nearly 54 million Americans are now doing freelance work, according to a 2015 study conducted by the independent research firm Edelman Berland and commissioned by Freelancers Union and Upwork. If you’re a startup or a company who operates in the digital sphere, hiring freelancers can be a great way to access quality work from a much larger pool of applicants.

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Tax services fuel RIA growth, Fidelity benchmarking survey shows

Accounting Today

While the vast majority of firms said they have branched into that area, the results suggest they may be missing part of the business opportunity.

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The New 1099-Ks Are Coming: Are You Ready?

Remote Quality Bookkeeping

2021 was a huge year for multiple reasons. However, it was incredibly important for entrepreneurs and small businesses, primarily because of the passing of the American Rescue Plan Act. This act aimed to help small businesses survive the competitive commercial environment by providing them with funds, resources, and investment to hire more workers and keep them.

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Pros and Cons of Outsourced Accounts Payable and Accounts Receivable Services

CSI Accounting & Payroll

Cash flow makes or breaks a small business, but managing your payables and receivables in-house can take a lot of time and effort as you grow. That’s why so many small businesses want to outsource their working capital management - but what are the pros and cons? At CSI Accounting & Payroll, we’ve worked with small business finances for over 50 years.

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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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What is the Purpose of Bookkeeping for your Company?

Remote Quality Bookkeeping

What is the purpose of bookkeeping, and how can good bookkeeping improve your business? When it comes to running a company, you need everything in place and to run properly in order for your business to continually function, especially anything related to your financials. Making sure that you’re gaining more money than you’re spending is vital, and keeping track of all income and expenses is equally as important.

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Optimizing the Supplier Payment Process Using Advanced Technologies

Nanonets

As businesses get more complex and grow in scale, the vendor payments process becomes more intricate, time-consuming, and important. Not only are supplier payments crucial to getting the raw materials needed to run a company, but they also encompass utility bills, office space rent costs, and so much more.  If an organization submits a supplier payment late or incorrectly, it could have major downstream implications on the business’s ability to function.

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5 Myths About Payroll Services That Need To Die

Remote Quality Bookkeeping

Starting a business isn’t easy. It takes a brave soul and a creative mind to deal with all the challenges of building your own company from the ground up. Business owners must wear multiple hats every day, from Chief Marketing Officer to Head Of Human Resources. Once businesses are thinking about hiring their first couple of employees, we recommend investing in our payroll services for small business.

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AP Controls: The Role Internal Controls for Accounts Payable Plays in Every Business

Nanonets

All businesses must expertly manage the payments they owe to other people or entities. This function, referred to as accounts payable , is critical to business operations, financial management, and long-term relationship building in every industry.  Accounts payable teams must find the balance between speed and accuracy to get the right payments to the right partners on time.

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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.