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.

Tax 338
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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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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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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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Twelve Months of New Features: a 2023 Recap

Compleatable

Our developers have been hard at work this year, listening to feedback from our iCompleat users and constantly improving your experience. Cast your mind back to January (insert ‘it feels like a lifetime ago’ comments here!)- a New Year, and some new tweaks to your user experience. We made it even easier to create a new order by adding the layout and supplier within the Requisition form, as well as adding a shiny new duplicate function to Purchase Orders.

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Accounting in 2024: The year ahead in numbers

Accounting Today

Accounting Today's annual survey reveals firms' expectations, worries and plans for the next 12 months.

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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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Turning Pages with the ADC Book Club | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

We are thrilled to announce that Episode 9 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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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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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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Twelve Months of New Features: a 2023 Recap

Compleatable

Our developers have been hard at work this year, listening to feedback from our iCompleat users and constantly improving your experience. Cast your mind back to January (insert ‘it feels like a lifetime ago’ comments here!)- a New Year, and some new tweaks to your user experience. We made it even easier to create a new order by adding the layout and supplier within the Requisition form, as well as adding a shiny new duplicate function to Purchase Orders.

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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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The 2023 Top 100 People: Fixing the pipeline problem

Accounting Today

Accounting's influencers offer their advice for solving the profession's most critical issue.

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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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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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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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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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Faces in FinOps Podcast: Episode 15 with Eli Mansoor, Pt. 1

ProsperOps

“Faces in FinOps” is hosted by Jon Myer and powered by ProsperOps. Greetings and welcome to another stellar episode of the Faces In FinOps Podcast, powered by ProsperOps, with your host, Jon Myer. This week we’re excited to have Eli Mansoor , a FinOps evangelist and CEO/Founder of OskaQ Consulting , a business focusing on improving cloud customers’ gross margin by optimizing vendors’ agreements and cloud spend.

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Key MLOps processes (part 5): Project initiation, or project initialization

FinOps in Practice

In this article, we describe the block of the scheme, devoted to project initiation, or project initialization. Please, find the whole scheme, which describes key MLOps processes here. The main parts of the scheme are horizontal blocks, inside of which the procedural aspects of MLOps are described. Each of them is designed to solve specific tasks within the framework of ensuring the uninterrupted operation of the company’s ML services.

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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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20 big companies that need better tax advice

Accounting Today

The five S&P 100 companies with the highest overall tax rates paid an average of 43.32% in 2022.

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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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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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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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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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AIOps Explained: Transforming IT with Artificial Intelligence

ProsperOps

AIOps is a convergence of AI and IT operations, helping AWS users grapple with the intricacies of cloud computing. According to McKinsey, 70% of companies will employ hybrid or multicloud management technologies, tools, and processes in the years ahead. Because of this relentless pace of technology development, AWS customers often find themselves managing complex IT problems, and the challenge they face is to keep up without compromising customer service.

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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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IRS falls behind on tax return scanning goal

Accounting Today

The Internal Revenue Service is not expected to meet the Treasury Department's goal of scanning millions of returns by the end of the year.

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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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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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Coaching Work-Life Balance from a Management Level | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

We are thrilled to announce that Episode 8 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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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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Faces in FinOps Podcast: Episode 14 with Steph Gooch

ProsperOps

“Faces in FinOps” is hosted by Jon Myer and powered by ProsperOps. Welcome to Episode 14 of the Faces In FinOps Podcast, powered by ProsperOps, with your host, Jon Myer! In this engaging episode, we’re excited to have Steph Gooch, a Senior Optimization Solution Architect from the AWS OPTICS team, as our special guest. Steph brings a wealth of knowledge and experience in cloud financial management, sharing insights into cost optimization, and financial processes, and fostering a cost-aware

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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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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.