December, 2023

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Economic trends to help your business plan for 2024

Xero

The past year has been a bumpy ride for many. Most owners have been focused on maintaining cash flow, as they deal with the combination of rising costs and a limited capacity to lift their prices as customers become increasingly scarce. As 2024 approaches, it’s a good time for small business owners to think about business planning for the next 12 months.

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IRS plans foreign tax credit rules

Accounting Today

The Treasury Department and the Internal Revenue Service expect to issue proposed regulations to address the application of the foreign tax credit and related rules and the dual consolidated loss rules to certain types of taxes described in the GloBE Model Rules.

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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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Budgeting and Planning for 2024: A Guide for Businesses

Accounting Department

With a new year just around the corner, it's time for organizations to start thinking about their budgets for 2024 - if they haven't already. Effective budgeting and planning are critical to the success of any business. It helps in making smart financial decisions, optimizing resource allocation, and achieving business objectives.

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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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Batch Stuck In Posting Dynamics GP (Great Plains) How to Use Batch Recovery

Fidesic blog

If you have a batch that is stuck in posting or has been sent to recovery this post is going to help you figure out how to recover that batch and figure out what is causing the error so you can fix it and post it. You can watch the video or follow the steps below.

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How Lacerte Software Streamlines Tax Preparation Processes

Ace Cloud Hosting

Tax preparation can be a daunting task, especially for those new to the field. Lacerte Software offers a comprehensive solution that simplifies the process and ensures accuracy and compliance. Lacerte.

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IRS restructures leadership

Accounting Today

The Internal Revenue Service has reorganized its leadership structure at the top, with a single deputy IRS commissioner instead of two, and four chief executives to lead taxpayer service, compliance, information technology and operations.

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A Place Where Women in Sales Want to Work

Intuit

Championing women in sales When companies ramp up their diversity and inclusion efforts, their focus usually goes to tech and engineering roles. But women are underrepresented in sales, too. That’s why it’s meaningful that Intuit was recently recognized as number one on the list of the “Top 25 Companies Where Women Want to Work” released by GirlsClub, a professional organization focused on getting more women in sales leadership.

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Types of Reports in QuickBooks: A Comprehensive Guide

Accounting Department

Reports play a crucial role in managing a business effectively, and QuickBooks provides a wide range of reports that can help small and medium-sized businesses track their financial performance and make informed decisions. These reports provide valuable insights into various aspects of the business, such as income, expenses, sales, inventory, and payroll.

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Wire Transfer vs ACH Transfer

Fidesic blog

Digital payments saw a major increase in recent years as remote work becomes more common. Both ACH and wire transfers move funds from one bank account to another, but there are key differences. Let's start with defining each and then we will compare Wire Transfer vs ACH Transfer.

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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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QuickBooks Revises 1099 Process for 2023 Filings

Insightful Accountant

Preparing, filing, and correcting 1099s is now easier than ever in QuickBooks Online. New workflow, reporting, free e-file of corrections and E-file payment flexibility and will be available for the 2023 filing period.

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Build the ultimate app stack to help skyrocket your practice growth

Xero

In today’s accounting and bookkeeping practices, you can find yourself juggling client communications, compliance and acting increasingly in advisory roles – all while still managing your ever-growing daily management tasks. It’s understandable that you may often find yourself spending more time on the admin side of your practice than growing it. So how can you streamline time spent on admin, workflows and processes?

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IRS falls short when employees get arrested

Accounting Today

The Internal Revenue Service needs to do a better job of keeping track of employees who are arrested by law enforcement and notifying their colleagues, according to a new report.

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Getting the most from a mentoring relationship

Intuit

Working with a mentor can be a powerful way to build your skills, advance your career, and develop a strong professional network. But what’s the best way to go about it? When you make a connection with a role model with time and insights to share, how do you get the most from the opportunity? In our last blog, we talked about why mentorship matters.

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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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Looking Back at a Year of ADC Sponsored Events!

Accounting Department

Each year, our team gears up to attend events all over the United States that AccountingDepartment.com proudly sponsors. As a proud supporter of Vistage International, Entrepreneurs’ Org, EOS Worldwide, CEO Coaching International, Genius Network, Small Giants Summit, HubZone, Women Presidents’ Organization, and B2B CFO®, our team gets to experience many great events, meet many amazing people, and see our clients from all over.

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5 Ways to Modernize Your Office & Boost Productivity

Fidesic blog

Why Performance and Productivity Increase when you Modernize Office Décor Let's face it, offices have changed dramatically in the last few years. Since many leaders are already re-imagining their office setups, now is the perfect time to reboot and modernize office décor and design. In this post we will look at 5 data-prove n new office interior design ideas to modernize office and boost productivity.

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Cloud Hosted QuickBooks Enterprise Security for Your Business – A Comprehensive Guide

Ace Cloud Hosting

QuickBooks Enterprise is a comprehensive accounting software designed to help businesses manage their finances, inventory, and operations efficiently. Being a repository for sensitive financial information, QuickBooks Enterprise demands a comprehensive.

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Five tech trends for small businesses in 2024

Xero

In the early 2000s, accessing the internet was through a dial-up connection which could take anywhere from 30 seconds to a couple of minutes to establish a connection. In 2023, generative AI tools can generate poems, short stories and complex legal and medical documents in a matter of seconds. The pace of technological change is accelerating and it’s reshaping just about every aspect of how we live, work, socialise and play.

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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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FASB issues cryptoasset standard

Accounting Today

The Financial Accounting Standards Board released its long-awaited accounting standards update to improve the accounting for and disclosure of certain cryptoassets.

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From Hollywood Dreams to a Purpose-Driven Tax and Bookkeeping Career

Intuit

Alvin Clavon knows how to navigate the often-twisty roads of life. After college, Alvin secured a job on a TV production set with a cross-country move to a promising career in Hollywood. Alvin quickly learned his first professional lesson: always get an offer in writing. Once in L.A., the deal was off and Alvin found himself looking for work in a hard-to-navigate Hollywood scene. “If I had to describe my journey, it’s been one of searching.

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Outsourced Client Accounting Services: Streamlining Financial Management

Accounting Department

Outsourced client accounting services play a crucial role in helping businesses take control of their financials. These services involve outsourcing the accounting and bookkeeping tasks to a third-party service provider, allowing businesses to focus on their core operations. The role of outsourced client accounting services goes beyond basic bookkeeping; it includes managing accounts payable and receivable, payroll processing, financial reporting, and more.

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14 Awesome Accounting Blogs for Accountants & Accounting Mangers

Fidesic blog

Looking for the best accountants blog? We couldn't narrow it down to just one so we chose to list 14 great blogs for accountants and other thought leadership sources on accounting. The accounting blog topics vary slightly for each one. The first 9 blogs are general accounting blogs and news sources. The last 5 are geared toward accounts payable and payments industries, because that's what we are focused on.

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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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Sage 50 – Features, Use Case, Alternatives, & Limitations

Ace Cloud Hosting

Managing finances and accounting is a crucial aspect of any business, regardless of its size. Sage 50 Accounting software has long been a trusted solution for businesses looking to streamline.

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Thanks for coming along to the New Zealand Roadshow 2023

Xero

As we wrap up the 2023 Xero New Zealand’s Roadshow , we want to reflect on the success of what was our largest Roadshow in the Asia-Pacific region. Starting in Dunedin this October, we travelled across Aotearoa New Zealand, making stops in Christchurch, Wellington, and Hamilton, before finishing in Auckland; amounting to 10 hours and 30 minutes travelled by each Roadshow member.

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PwC names Mohammed Kande as new global chair

Accounting Today

Kande has been the firm's global advisory leader since 2019 and also currently serves as co-leader of the U.S. Consulting Solutions side, where he has been involved in the firm's artificial intelligence efforts.

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The Support to Grow your Tax and Bookkeeping Career, Your Way

Intuit

Anisha Wells wants to make a difference in this world for her family—and for just about everyone else she knows and meets. She developed a real passion for helping and serving others in her previous roles as a daycare director and property manager. However, Anisha’s unpredictable work schedule often left her with little to no work-life balance as she juggled her demanding personal and professional commitments.

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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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5 SMB Trends to Expect in 2024

Accounting Department

Small and medium-sized businesses (SMBs) are essential to the economy, accounting for more than half of all jobs worldwide. In recent years, several trends have impacted how SMBs operate, and we can expect even more changes to come in 2024. To prepare for the future, businesses must be aware of these shifts and adapt accordingly. In this blog post, we will discuss five SMB trends that we can expect to see in 2024, dealing with AI, customer experience, sustainability, and cybersecurity.

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Is ACH Safe? Are ACH Payments Safe Compared to other Methods?

Fidesic blog

ACH payments are a safe way to pay vendor invoices and employee payroll. According to data from NACHA fewer than 0.03% of ACH transactions are returned as unauthorized. ACH remains the preferred payment method for accounts payable departments to pay their vendors. ACH payments grew to 26.8 billion transactions in 2020 (a 8.2% YOY increase) according to NACHA , the organization that oversees ACH activity.

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The 35 Most Asked QuickBooks Hosting Questions and Answers in [2024]

Ace Cloud Hosting

Discover responses to frequently asked QuickBooks hosting queries from users and additional resources. Are you curious about QuickBooks hosting and wondering if it suits your business? You’re not alone! Explore.

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Make sales tax easier with Xero’s new auto sales tax, powered by Avalara

Xero

It’s no secret that businesses are always looking for ways to work smarter and faster. In fact, according to a recent survey of finance professionals commissioned by Avalara , 71% are investing in more tools and solutions to close overall efficiency gaps. When it comes to manual tasks, there are few that are more burdensome than sales tax. There are more than 13,000 jurisdictions across the US, so sifting through them all and making sure you’re selecting the right ones for your business can be a

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Travel and Expense Policy Success: Your Essential Checklist

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.