Sat.May 11, 2024 - Fri.May 17, 2024

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Navigating the Hidden Costs of Business Decisions: The Crucial Role of Opportunity Cost

Accounting Department

In the dynamic world of entrepreneurship and business management, every decision you make can significantly impact your business's trajectory. Whether it's choosing between investing in new technology or expanding your product line, the choices are endless and often complex.

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CFOs seeking tech solutions need change management

Accounting Today

Partly in response to the talent crunch, CFOs are reaching for digital platforms to automate, streamline and spare the highest-value talent for highest-value work.

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Better off on Xero: Steps to process and finalise payroll

Xero

With just over six weeks remaining in FY24, now is a great time to think about your EOFY preparation. A good place to start? Preparing your payroll to make finalisation as easy as possible come July. Completing your EOFY is better off on Xero. To help you get you through from start to finish, we’ve included some handy steps to guide you through the process. 1.

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Healtchcare AP Automation Testimonial - Fidesic and MB2 Dental

Fidesic blog

Healtchcare AP Automation Case Study Fidesic and MB2 Dental. Dental practice management service provider saves 100s of hours using Fidesic.

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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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Optimizing Financial Management through Outsourced Client Accounting Services

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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You can't maximize ROI without ROR

Accounting Today

As the cornerstone of the "Return on Relationship" methodology, a holistic financial plan unlocks a deep and meaningful understanding of a client's personal and business realities and goals.

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More Trending

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Introduction to AR Invoice Delivery Automation

Cevinio

AR Invoice Delivery Automation is a software solution designed to transform invoicing processes, mitigate errors, and enhance cash flow […]

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Knowing When to Let Go: Delegating for Business Growth | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

Andrea engages in a candid conversation with ADC co-founder Bill Gerber, exploring the pivotal decision-making process behind delegating tasks for business growth.

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Is the profession damaging its own pipeline?

Accounting Today

The Illinois CPA Society's "Re-Decoding the Decline" report shows that time is the top barrier to CPA licensure, not the 150 credit-hour rule.

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Sage 50 Hosted on Cloud vs. Sage 50c – Which One to Choose?

Ace Cloud Hosting

Handling critical financial or accounting data takes work. If you are an accountant or running an accounting firm, using accounting software, such as Sage 50, can make your daily operations.

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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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Future Forward is the Place to Be

Insightful Accountant

Insightful Accountant is hosting Future Forward 2024 next Tuesday and Wednesday. If you are a QuickBooks Pro or Premier user you will want to attend my two sessions on Migration from those products.

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Budgeted financial statements definition

Accounting Tools

What are Budgeted Financial Statements? Budgeted financial statements contain the expected financial results, financial position , and cash flows of a business. These budgeted financials include an income statement , balance sheet , and statement of cash flows. These statements are compiled from the annual budgeting model of a business. Budgeted financial statements are particularly useful when creating a new budget model, since you can view the impact of adjustments to the model on the budgeted

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IRS warns of new tax scams spread by social media

Accounting Today

The Internal Revenue Service cautioned consumers to beware of inaccurate advice which prompted thousands of taxpayers to file overblown claims and held up their refunds.

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What are Client Letters in ATX Software?

Ace Cloud Hosting

Clear communication is vital for completing tasks accurately and efficiently. When it comes to tax firms, understanding information in the right way is very crucial, as one mistake can hinder.

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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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Intuit Appoints Vasant Prabhu to Board of Directors

Insightful Accountant

Intuit, Inc. has appointed Vasant Prabhu, former Chief Financial Officer and Vice Chairman of Visa, to its board of directors.

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Who Are Your Customers? QuickBooks Online Customer Records Can Tell You

Reconciled Solutions

They’re your company’s most valuable asset. Thorough customer records can improve your customer relationships. Creating comprehensive, accurate customer profiles in QuickBooks Online takes time. It’s. The post Who Are Your Customers? QuickBooks Online Customer Records Can Tell You appeared first on Reconciled Solutions.

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IRS cuts PTIN fees

Accounting Today

The Internal Revenue Service published final regulations officially lowering the fees for new Preparer Tax Identification Numbers and renewed PTINs.

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Top 9 Innovations Accounting Businesses Should Adopt in 2024 and Future

Ace Cloud Hosting

According to Accounting Today, “The accounting software market will have a global value of $11.8 billion by 2026, according to new market research, at an expansion rate of 8.6 percent.

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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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Navigating Potential Changes to Corporate Tax Rates

Insightful Accountant

Small business owners and tax practitioners are debating whether to elect S corporation status before the potential corporate tax rate increase in 2025 due to the expiration of TCJA provisions.

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11 Ways to Foster a Culture of Innovation

Nolan Accounting Center

The word “innovation” may conjure up an image of inventors working on their next big project. But innovation is much broader and deeper than that image. As stated by an unknown author, “Innovation is the process of creating value by applying novel solutions to meaningful problems.” Former CEO of Apple, Steve Jobs said, “Innovation is the ability to see change as an opportunity–not a threat.

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Accounting Today news quiz: May 17

Accounting Today

Test your accounting knowledge on bad social media advice, AI adoption, and more. No. 2 pencil not required!

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How To Access Sage 50 Remotely?

Ace Cloud Hosting

The current business environment is extremely fast-paced, and the ability to work from anywhere is crucial. Sage 50, a desktop software, is an ideal solution for businesses to manage their.

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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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The ROI of Outsourcing Your Accounts Receivable

Enterprise Recovery

Outsourcing accounts receivable and collections is a strategic decision that can benefit businesses. By partnering with a collection agency, businesses can offload the time-consuming task of chasing unpaid invoices, allowing them to focus on their core operations. Discover the financial benefits of outsourcing your accounts receivable and how it can positively impact your business's bottom line.

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Inventory control definition

Accounting Tools

What is Inventory Control? Inventory control is the management of a company's inventory to maximize its use. The goal of inventory control is to generate the maximum profit from the least amount of inventory investment without intruding upon customer satisfaction levels. Given the impact on customers and profits, inventory control is one of the chief concerns of businesses that have large inventory investments, such as retailers and distributors.

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PCAOB OKs auditor responsibility and quality control standards

Accounting Today

The Public Company Accounting Oversight Board approved two new standards on a firm's system of quality control and the general responsibilities of the auditor in conducting an audit, albeit with pushback on the QC standard from one board member.

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The Hidden Costs of Responding to IRS Notices: A Burden on Tax Practitioners

Insightful Accountant

Responding to IRS notices for clients is a time-consuming and costly task for tax practitioners, especially with the increase in notices post-COVID.

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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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AI-powered audit preparedness: A 10-point checklist for fast-growing finance teams

Plooto

Experienced accountants are hard-wired to remain audit-ready. But for small and medium-sized businesses (SMBs), are their financial team really prepared to provide detailed financial recordings, having their time monopolized and day-to-day responsibilities disrupted?

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Inventory valuation

Accounting Tools

How to Value Inventory Inventory valuation is the cost associated with an entity's inventory at the end of a reporting period. It forms a key part of the cost of goods sold calculation, and can also be used as collateral for loans. This valuation appears as a current asset on the entity's balance sheet. The inventory valuation is based on the costs incurred by the entity to acquire the inventory, convert it into a condition that makes it ready for sale, and have it transported into the proper pl

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Businesses worry about bribery and corruption impact

Accounting Today

Small and midsized business owners and their financial advisors have deep concerns about the damaging impact of bribery and corruption, according to a new survey.

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The Biggest Mistakes Accountants Make Starting Their Firm (Or New Service)

Jetpack Workflow

If you are reading this, then you might be an accountant (or maybe a bookkeeper ) looking to start your own firm or practice. It can be a game changer for your career and finances. But it also can be an overwhelming process. We’ve now worked with thousands of firms who utilize our workflow software to streamline their projects, workflows, and automate repetitive tasks.

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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.