Sat.Jun 29, 2024 - Fri.Jul 05, 2024

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Why Outsourcing Your Accounting Could Be the Best Investment Your SMB Makes

Accounting Department

Running a small to medium-sized business (SMB) is no small feat. Between juggling sales, operations, customer service, and marketing, it’s easy to see why accounting often falls to the bottom of the priority list.

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Practice Profile: A hand up for young accountants

Accounting Today

Huselton, Morgan and Maultsby's Student Leadership Program aims to steer more students into accounting — and prepare them for other decisions down the line.

professionals

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New subscription plans are live in Australia: what this means for you

Xero

In May, we announced new subscription plans for Australian customers and partners as part of our efforts to simplify our plan offering. The new plan line-up bundles key features like Xero Expenses, Xero Projects and Xero Analytics Plus into some plans, making it easier to choose the right plan for your business or clients. These plans are now live to coincide with the start of the financial year.

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The Evolution of FinOps: Day 1 Keynote Themes from FinOps X 2024

FinOps Foundation

Key Insight: The FinOps X 2024 Day 1 Keynotes covered the Evolution of FinOps to include more technology spending beyond public cloud, FinOps for AI, cost-aware product decisions, carbon-aware FinOps. Stories from Disney and Uber spoke to the the constantly changing FinOps landscape, the FOCUS 1.0 GA launch landed and an executive panel of VPs from AWS, Microsoft and Google spoke together.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Avoid These Common Accounting Mistakes for Growing Businesses

Accounting Department

Growing a business can be an exhilarating experience, but it comes with its fair share of challenges. One crucial area that requires meticulous attention is accounting. Proper accounting practices are the backbone of financial stability and growth, yet many small to medium-sized businesses (SMBs) often overlook them.

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IRS warns tax pros to beware of identity theft

Accounting Today

The Internal Revenue Service issued a warning to tax professionals to be on guard against the identity thieves who are targeting them and their clients.

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Clouds announce FOCUS support and GenAI tools at FinOps X

FinOps Foundation

Key Insight: At FinOps X in San Diego last week, the three largest cloud service providers took the stage to announce feature launches and improvements to their FinOps offerings. Native FOCUS support was a ubiquitous theme, optimization recommendations were improved, and the use of AI assistants were common threads. Mike Fuller , CTO of the FinOps Foundation, and J.R.

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Financial statements definition

Accounting Tools

What are Financial Statements? Financial statements are a collection of summary-level reports about an organization's financial results, financial position , and cash flows. They include the income statement, balance sheet, and statement of cash flows. Advantages of Financial Statements Financial statements are useful for the following reasons: To determine the ability of a business to generate cash, and the sources and uses of that cash.

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Ask what you can do for your profession

Accounting Today

Whether there will be a next generation of accountants is, in many ways, up to all of us.

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No Cost QuickBooks Bill Pay Elite Available for ProAdvisors

Insightful Accountant

Intuit is offering QuickBooks Bill Pay Elite to ProAdvisors and QBO-Accountant firms at no cost. We always want you to know when Intuit is offering a perk.

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Business Travel Expense Strategies for Everybody

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Moving from Local to National, Designing Culture for Working Moms, Acquisition Offers w/Katie Lilly

Jetpack Workflow

Podcast Summary In this episode of the Growing Your Firm Podcast, host David Cristello welcomes back Katie Lilly of Lillyfield Accounting Solutions. Katie discusses the transformative changes her firm has undergone since her last appearance on the show, pre-COVID. She shares insights on her firm’s transition from serving primarily local clients to expanding regionally and nationally, and how they navigated the shift to remote work with ease, having been originally designed as a remote fir

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Amazon DynamoDB Pricing and Benefits: A Deep Dive

Economize

Introduction Building large-scale applications requires a solid data management strategy and a database that can handle large amounts of data with consistent, low-latency performance. High-traffic applications like e-commerce platforms, gaming backends, and social media networks need a database solution that can efficiently manage millions of requests per second without sacrificing speed or reliability.

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IRS finalizes regs on stock repurchase tax

Accounting Today

The IRS and Treasury Department released final regulations on how companies and tax pros should report and pay the 1% excise tax on corporate stock repurchases.

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IRS Service Challenges: Insights for Tax Professionals

Insightful Accountant

National Taxpayer Advocate's report exposes IRS service metric flaws. LOS metric, based on answered calls, lacks full taxpayer interaction data. 88% LOS for 2024 is misleading, covering only 35% of phone lines without ensuring issue resolution.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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11 Accounting Advisory Services Your Firm Can Offer

Jetpack Workflow

If you’re part of the 80% of global accounting firms planning to add or expand their advisory services soon, you may be weighing which specific services you want to include and how to price them appropriately. Expanding into a new service department like client advisory services (CAS) can be a win-win scenario for you and your clients. It can offer your firm stable, recurring revenue outside tax season.

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AWS EKS vs ECS: Which is Better for Container Management?

Economize

For many AWS users, choosing between Amazon EKS vs ECS is a common challenge. With the increasing popularity of containerized applications, having an efficient container orchestration platform is indispensable. Both EKS and ECS deliver powerful solutions for deploying, managing, and scaling containers, though they feature different capabilities and use cases.

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A different tax landscape at mid-year

Accounting Today

The end of Chevron deference, shifting IRS policies, and other major changes to the tax landscape.

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IRS Shifts Audit Focus: What Tax Practitioners Need to Know

Insightful Accountant

IRS audit strategies have shifted towards auditing a broader range of high earners, impacting tax practitioners and their clients. Treasury Inspector General for Tax Administration report highlights this change.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Understanding and Managing Your Business Expenses: A Bookkeeper’s Guide

Less Accounting

Effective expense management is essential for the financial health and sustainability of any business, regardless of its size. As a small business owner, understanding and managing your expenses efficiently is paramount to achieving profitability and long-term success. In this comprehensive guide, we’ll explore the fundamentals of business expenses and provide practical tips for effective expense management from a bookkeeper’s perspective.

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5 Reasons to Have a Sage Cloud Server for Your Business

Ace Cloud Hosting

From small businesses to large enterprises, Sage offers a range of software to assist with different operations such as accounting, payment & banking, and supply chain management. Its desktop-based application.

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IRS offers relief on reporting renewable energy tax credits

Accounting Today

The IRS's Large Business and International Division is providing companies that claim tax credits for renewable energy and electricity projects an expedited way to report them.

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Real AI Software: A Practical Guide for Accountants

Insightful Accountant

AI is reshaping accounting by automating tasks and improving decision-making. Accountants must differentiate between genuine AI and marketing hype to invest wisely in tools that deliver real benefits.

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Best Practices to Streamline Compensation Management: A Foundation for Growth

Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.

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How to write down inventory

Accounting Tools

The write down of inventory involves charging a portion of the inventory asset to expense in the current period. Inventory is written down when goods are lost or stolen, or their value has declined. This should be done at once, so that the financial statements immediately reflect the reduced value of the inventory. Otherwise, the inventory asset will be too high, and so is misleading to the readers of a company's financial statements.

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Top Remote Accounting Candidates for Hire | July 5, 2024

accountingfly

Top Remote Accounting Candidates This Week Looking for remote accountants? Accountingfly can help! With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accounting candidates with no upfront cost. These are just a few of our top candidates this week. Sign up now to receive the full list of top accounting candidates available weekly!

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10 digital trends to build a value-driven controllership

Accounting Today

Here's how to go beyond routine process automation and apply strategies that bolster efficiency, autonomy and value for the controllership function.

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Airwallex now integrated with QuickBooks to provide multi-current reporting

Insightful Accountant

Airwallex customers can now readily import their transaction data into QuickBooks Online, eliminating the need for manual inputs and helping customers better manage their finances.

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7 Essential Criteria for Choosing the Right Payments Partner

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.

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How To Get Bookkeeping Clients Quickly: 19 Tips To Use In 2024

Future Firm

Discover how to get more bookkeeping clients fast with our comprehensive guide. Learn effective tips to quickly find and grow your business. The post How To Get Bookkeeping Clients Quickly: 19 Tips To Use In 2024 appeared first on Future Firm.

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Using 401(k) to Buy a Business: Rollover for Business Startups (ROBS) Account

CSI Accounting & Payroll

401(k) or IRA money may be used in a tax-advantaged way to buy a business, but there's a lot of risk. Is a Rollover for Business Startups (ROBS) account right for you? Let's discuss how ROBS work, their rules, & other financing.

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Founder Files: The accountant who hates accounting

Accounting Today

Louie Vazquez says he has all the characteristics of a bad employee and a good business owner.

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Fly the "Grand Old Flag" Proudly this 4th of July

Insightful Accountant

From Murph and all of us at Insightful Accountant, have a happy and safe holiday, and proudly remember the liberty and independence this holiday celebrates by flying the American Flag.

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.