Sat.Jul 06, 2024 - Fri.Jul 12, 2024

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IRS fights misleading social media claims

Accounting Today

The Internal Revenue Service has stepped up efforts to combat dubious tax advice promoting schemes involving the Fuel Tax Credit, the Sick and Family Leave Credit, and household employment taxes.

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Mastering Financial Success for Your SMB

Accounting Department

Running a small to medium-sized business (SMB) comes with its own set of challenges and rewards. One of the most pivotal aspects of ensuring your business's success is strategic financial planning. While it might seem daunting, mastering this process can propel your business growth and profitability to new heights. This blog post will walk you through the critical steps in strategic financial planning tailored specifically for SMB owners.

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professionals

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5 Payments Fraud Trends to Watch in 2024

Fidesic blog

Payments fraud increased in 2023 for the first time since we started watching and sharing results from the annual AFP Payments Fraud and Control Survey Report.

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Day 2 Keynote at FinOps X 2024

FinOps Foundation

Key Insight: The 2024 Day 2 Keynotes brought something brand new to FinOps X: feature announcements from the three largest clouds. Google Cloud, Microsoft, and AWS all announced support for FOCUS 1.0 with native billing exports, and revealed a number of important enhancements for FinOps Practitioners. Also on Day 2, American Express shared challenges they face on their FinOps journey, and Mike Fuller, CTO at the FinOps Foundation, discussed key considerations around FinOps tooling and services.

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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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The Fastest-Growing Firms: The secret sauce of growth

Accounting Today

Some of Accounting Today's fastest-growing firms share what turbo-charged their expansion over the past year.

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Mastering Your Cash Flow Analysis for Financial Success

Accounting Department

Managing a business isn’t easy. Amongst juggling various roles and responsibilities, ensuring your financial health often becomes a daunting task. One powerful tool to help you stay on top is cash flow analysis.

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Hiring Update: July 2024 | Advisory, Hybrid, and Hiring Turnover

accountingfly

Sharing our perspective on the latest trends impacting talent acquisition in the accounting industry – Advisory, Hybrid, and Hiring Turnover. All content is 100% written by the real humans working here at Accountingfly. Market Trends: Swiping Right On Advisory; The Harder Way to Hire Hybrid, Culture Fit is Hard Everyone Loves Advisory More and more Accountingfly clients are looking to hire “financial whisperers”–candidates who provide meaningful business advisory services to firm cl

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IRS collects $1B from millionaires

Accounting Today

The agency is hoping to counter a widespread impression that people can get away without paying their taxes, according to Commissioner Werfel.

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Are You Ready for July 31, 2024?

Insightful Accountant

Do you realize that July 31, 2024, is only 21 days away when Intuit will stop selling QuickBooks Pro and Premier to new subscribers? "What are you prepared to do?

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Mapping the best finops stack for your business

Plooto

Financial technology (fintech) makes it easier for businesses to do everything from issuing invoices and processing payments to managing expenses and making payroll. These solutions are the behind-the-scenes tools that quite literally allow businesses to send and receive money.

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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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How to calculate the ROI of AP Automation 

Cevinio

Understand the significant cost benefits, enhanced compliance, and improved productivity that AP Automation offers.

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Intuit plans to replace 1,800 employees

Accounting Today

The laid-off workers will be replaced by specialists in engineering, product, and customer-facing roles as part of Intuit's larger AI plans.

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App Aware: MyWorks

Insightful Accountant

MyWorks is an eCommerce integration app that can connect QuickBooks Online, QuickBooks Desktop, and Xero with WooCommerce and Shopify. Murph would like to make you 'App' aware of this highly functional tool if you're looking for an eCommerce app.

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AI and Accounts Payable: Transforming Financial Operations

Compleatable

In the fast-evolving world of finance, innovation is the key to staying ahead. One area that has seen significant advancements is Accounts Payable (AP), with Artificial Intelligence (AI) leading the charge. AI is not just a buzzword; it is revolutionizing how businesses manage their financial processes, bringing efficiency, accuracy, and cost savings to AP departments worldwide.

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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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Capital expenditure budget definition

Accounting Tools

What is the Capital Expenditure Budget? A capital expenditure budget is a formal plan that states the amounts and timing of fixed asset purchases by an organization. This budget is part of the annual budget used by a firm, which is intended to organize activities for the upcoming year. Capital expenditures can involve a wide array of expenditures , including upgrades to existing assets, the construction of new facilities, and equipment required for new hires.

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Tech news: CBIZ rolls out "D@ta NEXUS" suite

Accounting Today

Plus, Biller Genie launches QuickBooks Desktop integration, PayPal integration; and other accounting technology news.

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About the 2025 ProAdvisor Awards Nomination Form

Insightful Accountant

In this third article of Murph's miniseries on the 2025 ProAdvisor Awards forms, he examines the new Nomination Form and gives some quick tips on its use.

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How to Extract Key-Value Pairs Using Deep Learning

Nanonets

This tutorial blog examines some of the use cases of key-value pair extractions, the traditional and current approaches to solving the task, and a sample implementation with code. You encounter KVPs more often than you might realize. Remember the last time you flipped through a dictionary? Each word (the key) is paired with its definition (the value).

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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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Payback method | Payback period formula

Accounting Tools

What is the Payback Method? The payback period is the time required to earn back the amount invested in an asset from its net cash flows. It is a simple way to evaluate the risk associated with a proposed project. An investment with a shorter payback period is considered to be better, since the investor's initial outlay is at risk for a shorter period of time.

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Founder Files: The reluctant entrepreneur

Accounting Today

Orumé Hays, founder of Hays CPA, wanted to make sure her future was never in someone else's hands.

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Automate Your I-9 Process with QuickBooks Workforce

Insightful Accountant

Murph takes you through the steps of automating I-9 compliance using QuickBooks Workforce coupled with QuickBooks Premium or Elite.

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50 ChatGPT Prompts for CPAs and Accountants

Ace Cloud Hosting

In today’s fast-changing financial environment, accountants and CPAs are constantly seeking ways to improve efficiency, enhance client relationships, and stay ahead of regulatory changes. According to myCPE, 49% of accounting.

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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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Capital expenditure definition

Accounting Tools

What is a Capital Expenditure? A capital expenditure is the use of funds or assumption of a liability in order to obtain or upgrade physical assets. The intent is for these assets to be used for productive purposes for at least one year. This type of expenditure is made in order to expand the productive or competitive posture of a business. Examples of capital expenditures are funds paid out for buildings, computer equipment, machinery, office equipment, vehicles, and software.

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Accounting Today news quiz: July 8

Accounting Today

Test your accounting knowledge on identity theft, sales tax reliance, and more. No. 2 pencil not required!

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Did Chevron Just Eliminate Cannabis Rescheduling?

Insightful Accountant

The recent Supreme Court decision overturning the Chevron doctrine has sent shockwaves through the regulatory landscape, with potentially significant ramifications for the cannabis industry.

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Ask Lisa - How Do I Start A Bookkeeping Business?

The Successful Bookkeeper

In the first episode of the Ask Lisa YouTube series, Lisa Campbell details how to successfully start a bookkeeping business.

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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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Cost of labor definition

Accounting Tools

What is the Cost of Labor? The cost of labor is the salaries and wages paid to employees , plus related payroll taxes and benefits. The term may also relate to a specific time period or a job (if the employer is using a job costing system to track costs). The cost of labor may be subdivided into the cost of labor related to the production of goods (known as the cost of direct labor ) and the cost of labor related to all other activities (known as the cost of indirect labor ).

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Aprio receives PE investment

Accounting Today

The Atlanta-based Top 50 Firm secured funding from Boston-based Charlesbank Capital Partners.

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The 2025 U.S. ProAdvisor Awards Are Now Open

Insightful Accountant

Insightful Accountant has launched the 2025 U.S. ProAdvisor Awards. ProAdvisors from the U.S. may apply, but we also encourage the nomination of your favorite ProAdvisor by fellow ProAdvisors and colleagues.

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Jetpack Workflow Product Updates (For June 2024)

Jetpack Workflow

Each month we will be sharing a quick product update on Jetpack Workflow. What you’ll find in this content can be things like product improvements, new feature releases, what is on the upcoming roadmap, and anything else that is relevant to your accounting workflow success. We often get busy behind the scenes of the product that we don’t get to share publicly about all the cool things our team is working on.

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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.