August, 2024

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The Hidden Costs of Cheap Accounting Services

Accounting Department

Running a business is no small feat, and managing finances can be one of its most challenging aspects. It’s no wonder many business owners are lured by the promise of cheap accounting services. If you think you're saving money with these budget options, think again. This post will uncover the hidden costs that could be undermining your business and explain why investing in quality accounting is crucial for long-term success.

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How many millionaires? Tax returns by income group for 2024

Accounting Today

Millionaires only accounted for 0.22% of total returns filed this year for the 2023 tax season.

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New features coming to Xero invoicing

Xero

We’re committed to continuously improving your invoicing experience in Xero. And as we transition to the new version of invoicing, we’re continuing to roll out more features and enhancements designed to streamline your workflow and boost productivity. As a reminder, there are some important changes happening in Xero invoicing: Beginning the week of 2 September 2024 at 9am NZT, we will be defaulting users to the new version of invoicing experience on a rolling basis.

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Bookkeeping vs. Accounting: Here’s how they differ

Intuit

What’s the difference between bookkeeping and accounting? These two professions seem to go hand in hand. Some even use the words interchangeably in conversation. But the truth is that they’re not as similar as some may think. In this guide, we’ll dive into the finer points of the two professions. We’ll define each, explore the differences between bookkeeping and accounting, and discuss what it takes to pursue roles in the fields.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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Fidesic AP to Launch Fido Magazine

Fidesic blog

The inaugural issue of Fido Magazine will be available in print with articles geared toward the Microsoft Dynamics Community.

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FinOps Tool Vendors Adopt FOCUS

FinOps Foundation

Key Insight: In addition to all major cloud infrastructure providers, third-party FinOps tool vendors are adopting the FOCUS for their platforms. Thousands of Practitioners rely on these tools to perform FinOps in their organizations. To help Practitioners understand this landscape, the FinOps Foundation will continue to track vendor adoption, and will eventually offer an official certification signifying conformance with the Specification.

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The 'Security Six' protects tax pros against cyberattacks

Accounting Today

The Internal Revenue Service and its partners have identified half a dozen steps for safeguarding taxpayer information.

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New features to help streamline accounts payable

Xero

Managing accounts payable is a crucial part of doing business, but paying the bills can be time-consuming and inefficient. So we’re on a mission to make it easier. We’re excited to announce that, over the next few months, we’re making some enhancements to the way you manage bills in Xero. These updates will help small businesses to streamline their end-to-end accounts payable process, saving time and gaining efficiencies.

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AI skills to boost your tech career

Intuit

10 AI skills you need for a career in tech By now, it’s no secret that proficiency with artificial intelligence (AI) is a necessity to move forward in the tech job market. Advancements in technology or new platforms roll out seemingly every day, and some of the biggest brands in the world are exploring the best implementations for AI—if it’s not already an integral part of their workflows.

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What’s that Accounts Payable Automation Company with the Octopus Logo?

Fidesic blog

Fidesic is that AP automation company with the octopus logo. Fidesic, the only octopus AP automation built specifically for Dynamics GP & Business Central.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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8 best practices for modernizing your AP invoice process today

Cevinio

Explore the best practices for modernizing your AP invoice process.

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Boosting Your Bottom Line with Financial Forecasting

Accounting Department

In today's competitive landscape, small and medium-sized businesses (SMBs) need every advantage they can get to thrive and grow. One powerful tool that can significantly impact a company's bottom line is forecasting.

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Coca-Cola to pay $6B tax bill after Tax Court ruling

Accounting Today

Beverage giant Coca-Cola said that it will pay the very old debt, but it is still appealing.

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How Kiwi Skips is shaking up New Zealand’s recycling industry

Xero

“I kept seeing a lot of useful material getting thrown out to the landfill, construction waste mainly, things like metal, wood, plasterboard and concrete which are all reusable with a little work,” says Dan Butterfield, owner of Kiwi Skips , a New Zealand-based on-demand skip hire company committed to sustainable waste management. “Watching it all go to waste felt wrong – but it was pretty easy to fix.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Running with data scientists: what it’s like to work in a dynamic tech culture

Intuit

The work of data scientists isn’t easily understood. Their work begins with laying a strong data foundation to perform robust data explorations followed by employing a set of mathematical techniques and experiments to deliver durable benefits. But it is not just the promising nature of their work. The environment in which they thrive empowers them to create meaningful experiences for customers and see impact in the business world.

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What’s that Accounts Payable Automation Company with the Octopus Logo?

Fidesic blog

Fidesic is that AP automation company with the octopus logo. Fidesic, the only octopus AP automation built specifically for Dynamics GP & Business Central.

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What is Accounts Payable (AP), it’s Purpose, Process and What Tools are Used?

Compleatable

Current accounts payable purposes and processes Accounts Payable or AP as it is also known, is a term used to describe the means of money being owed by a business to it’s suppliers for goods and services provided. An Accounts Payable (AP) department within a business might be made of a single individual to many tens of people. The main responsibility and duties of an AP department can vary but broadly speaking, this consists of making sure that purchase invoices received from suppliers are proce

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Overcoming Hurdles with Outsourced Client Accounting Services

Accounting Department

As a business owner, you can face various challenges, from any direction. From staffing woes to cash flow issues and the ever-growing threat of cybercrime, you’re constantly juggling risk and reward to keep your business afloat.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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SEC approves tougher rules around auditor 'negligence'

Accounting Today

The commission approved proposals from the PCAOB around contributory liability, the responsibilities of the auditor, and technology-assisted data analysis.

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How Suitcase Records is spinning sustainability with Xero’s Beautiful Business Fund

Xero

“We believe that Australian music is a vital part of life and we want to help musicians make a living from their craft,” shared Kathy Wilson, co-founder of Suitcase Records. The family-run business operates out of Brisbane, Australia, and aims to support local musicians by providing a more sustainable PVC compound to produce high-quality vinyl records.

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How to become a prompt engineer

Intuit

Prompt engineers specialize in making the most of artificial intelligence (AI) platforms. These professionals understand the ins and outs of how AI platforms think, designing the most efficient prompts for achieving desired results. Prompting roles appear to have a promising future, too. The global prompt engineering market size is projected to grow at a compound annual growth rate (CAGR) of nearly 33% from 2024 to 2030.

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Fidesic AP to Launch Fido Magazine

Fidesic blog

The inaugural issue of Fido Magazine will be available in print with articles geared toward the Microsoft Dynamics Community.

AP 130
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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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What are Large Language Models (LLMs)

Nanonets

Introduction We’ve all asked Alexa to play a song, or Siri to call someone, or ChatGPT to answer our questions. It’s quite fascinating how technology has advanced to a point where it can understand our intent and give us context aware responses. But what exactly is the technology behind all of this? Large Language Models (LLMs) are AI systems that can understand human language, and also generate context aware responses based on it.

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5 KPIs to Help Drive Your E-commerce Business

Accounting Department

In the dynamic world of small business, staying ahead means constantly measuring and optimizing performance. That's where Key Performance Indicators (KPIs) come in. These metrics help business owners, entrepreneurs, and startups monitor their progress, identify areas for improvement, and make data-driven decisions. Now that we understand the importance of KPIs, let's focus on the top 5 essential KPIs for e-commerce businesses.

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PCAOB sees audit deficiencies leveling off at largest firms, but problems remain

Accounting Today

The timing came months before the reports have been released in recent years thanks to ongoing efforts to accelerate the release of reports.

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Our updated migration approach to move UK customers to new subscription plans

Xero

In May, we announced changes to Xero’s plans in the UK as part of our efforts to simplify Xero’s offering. The new plans, which will launch on 12 September 2024, bundle key features such as Xero Payroll, Xero Expenses, multicurrency, Xero Analytics Plus and bill payments into some plans, making it easier to choose the best option for your business or clients.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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How to become a prompt engineer

Intuit

Prompt engineers specialize in making the most of artificial intelligence (AI) platforms. These professionals understand the ins and outs of how AI platforms think, designing the most efficient prompts for achieving desired results. Prompting roles appear to have a promising future, too. The global prompt engineering market size is projected to grow at a compound annual growth rate (CAGR) of nearly 33% from 2024 to 2030.

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Where We're Going - Fidesic In-Person Event Schedule

Fidesic blog

2024 has been the year of in-person events over here at Fidesic. We have been going to a lot more meetups and smaller conferences this year.

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How to Use QuickBooks Enterprise to Track Inventory

Ace Cloud Hosting

Running an inventory-based business comes with its own unique set of challenges. Beyond the usual responsibilities of payroll, customer service, and budgeting, managing and accounting for Inventory adds another layer.

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Transforming Business Efficiency with Seamless Systems Integration

Accounting Department

In today's fast-paced business world, growing companies often find themselves accumulating multiple applications to enhance productivity. However, without proper integration, these applications can lead to siloed operations and data redundancies, ultimately hampering efficiency.

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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.