Sat.Nov 09, 2024 - Fri.Nov 15, 2024

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Choosing the Perfect Outsourced Client Accounting Services for Your Business

Accounting Department

Opting for outsourced client accounting services can significantly conserve time and resources for your business. Nevertheless, locating a reliable outsourcing partner can be difficult. But how can you be sure you’re choosing an outsourced accounting service you can trust? A few characteristics of trustworthy, competent, and reliable accounting services will help you know the provider you chose is the right one.

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What tech vendors can learn from CPAs

Accounting Today

In the first two parts of this series (here and here), we explored what accounting firms can learn from accounting technology vendors. The first article discussed how vendor business models can inspire accountants to rethink their approaches to innovation and client experience, and the second article highlighted approaches tech companies use in talent management to attract and retain top talent.

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How to tackle the top four challenges of running an agency or firm

Xero

When building a professional services business such as an accounting firm, creative agency, architecture firm or consultancy, there are four common challenges you’ll likely face: managing your ever-growing list of projects, tracking billable hours, getting paid on time and keeping a handle on your cash flow and revenue forecast. Fortunately, if you’re aware of these challenges, you can put processes and technology in place to help you manage all the moving parts as you grow and stay in control o

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AWS Doubles Down on Data Granularity and FOCUS for Faster Decision-Making

FinOps Foundation

Key Insight: AWS doubles down on data with commitments to deliver more types of data and finer-grained data for more of the services they offer. Better data, as well as FOCUS, will unlock faster decision-making and more innovation. At FinOps X in San Diego in June 2024, J.R. Storment , Executive Director of the FinOps Foundation, sat down with James Greenfield , VP of AWS Commerce Platform, to ask what he thinks the Future of FinOps will look like.

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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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Master Vendor File: Best Practices and Setup in Dynamics BC and GP

Fidesic blog

A Master Vendor File (aka: Vendor Master File, Master Vendor List, or Supplier Master File) is an important part of accounting best practices, particularly where accounts payable is concerned. In this post we answer import questions like, What is a master vendor file, Why is a vendor master file important, and we share some best practices. Finally we will give a brief overview of how to set up your master vendor file in Microsoft Dynamics GP and D365 Business Central.

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New marginal tax rates for 2025

Accounting Today

The highest marginal tax rate for 2025 is 37% and the lowest is 10%.

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Leveraging Purchasing Innovations for Business Success

Compleatable

In today’s fast-paced and competitive business environment, organisations of all sizes face significant challenges when it comes to procurement. Whether managing tight budgets, optimising supply chains, or navigating increased customer demands, businesses need smarter, more efficient purchasing processes to stay ahead. Here, we explore some of the latest trends and innovations that can help organisations streamline their operations, reduce costs, and mitigate risks.

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ADC Attends The 2024 Genius Network Annual Event

Accounting Department

Last week, AccountingDepartment.com Co-Founder, Bill Gerber, and Business Development Representative, Shawn Marcum hit the road and attended the Genius Network Annual Event in Scottsdale, AZ.

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PCAOB calls off NOCLAR standard for this year

Accounting Today

Facing a backlash from audit firms about its proposal to toughen the standards for failing to detect noncompliance with laws and regulations, the Public Company Accounting Oversight Board has decided to delay action on the standard this year.

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Elevate Your Expertise with the Newly Updated ProAdvisor Academy

1st Step Accounting

As a lifelong learner, I pride myself on being up to date on all the latest and greatest tech, and that includes our accounting software. I figured if I’m going to use this software daily, I should know it inside and out. Which led me down the path to becoming a QuickBooks Certified ProAdvisor. I grabbed a few friends, set a goal and took it to the next level by becoming an Advanced Certified ProAdvisor.

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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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A Practical Guide to Embracing AI in Finance – Unlocking Efficiency and Security with Accounts Payable Automation

Compleatable

Adopting the latest tools isn’t just an advantage; it’s essential for staying competitive. For finance departments, one of the most transformative tools has been Artificial Intelligence (AI), which has quickly become an asset in streamlining Accounts Payable (AP) processes , combating fraud, and offering real-time insights. This guide will explore the practical applications of AI in finance, drawing on examples from industry leaders, including Compleat Software, to show how AI-driven automation

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What Is the Profit First Method & How to Use to Increase Profits

Fit Small Business

The Profit First method, a cash management strategy for businesses, prioritizes taking profit before paying expenses. It involves using separate bank accounts for income, profit, owner’s pay, taxes, and operating expenses. A predetermined percentage of each sale is allocated to the profit account first, ensuring guaranteed profitability. This system forces businesses to manage expenses within.

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FASB proposes to improve interim reporting

Accounting Today

The Financial Accounting Standards Board issued a proposed accounting standards update that aims to improve the navigability of the disclosures that need to be provided for interim reporting periods.

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When Outsourcing Debt Collection Makes Sense for Your Business

Enterprise Recovery: Accounts Receivable

Following up on past-due invoices and delinquent accounts can be a full-time job. However, it is invaluable to your business's bottom line. If you're considering outsourcing debt collections or handling them in-house, this post can help clarify the benefits of outsourcing. Outsourcing B2B debt collection can transform your financial operations by bringing in expertise, reducing costs, and freeing up valuable internal resources.

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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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Why Is Annual Budgeting Essential for Long-Term Business Success

Analytix Finance & Accounting

Do you feel your business has more potential for growth? Is it frustrating to see your budget plan fall short of maximizing this potential? As a business owner, you know how essential it is to make smart financial choices. Many businesses fail due to poor budgeting and financial planning. Statistics show that approximately 20% of small businesses fail within the first two years, and about 45 % do not survive beyond five years.

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Top 10 Invoicing Software for Travel Business

Invoicera

There was once a bustling travel agency that catered to all kinds of clients, each with unique travel dreams—from surfing in Bali to vineyard hopping in Tuscany. But as the agency’s bookings grew, an unexpected problem surfaced: invoicing. Just like the travel industry itself, their billing needs were a fast-moving maze of custom requests, multiple currencies , and online bookings.

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PCAOB amends rules on deregistering audit firms

Accounting Today

The rule change addresses situations in which a firm has ceased to exist, is nonoperational or no longer wishes to remain registered.

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Adding $2M in Accounting Services in 36 months w/ Greg O’Brien CPA, CTS

Jetpack Workflow

Podcast Summary In this episode of Growing Your Firm, host David Cristello welcomes back Greg O’Brien , Co-CEO of Anomaly CPA , for an insightful discussion about the evolution of his firm since their last conversation three years ago. They reflect on the growth of Anomaly CPA, including the firm’s current headcount and revenue, as well as the strategic decisions made to invest in alternative positions beyond client-facing roles, such as marketing, IT, and operations.

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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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What is Accounts Payable Fraud?

oAppsNet

Accounts Payable (AP) fraud is like a hidden drain slowly sucking the lifeblood out of your business. Imagine you’re pouring resources into growing your company, but behind the scenes, your cash is slipping out through fraudulent transactions you don’t know about. Scary, right? This article will explore accounts payable fraud, its different forms, and how to spot it before it causes severe damage.

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Top 12 Invoicing Software For Legal Firms/Lawyers

Invoicera

Billing for legal services isn’t as glamorous as arguing in court, but it’s certainly essential. In fact, it’s a key part of keeping a law firm running. As shown in the most recent Legal Trends Report , the average lawyer billed just 2.9 hours (37%) of an 8-hour day. This indicates that many lawyers either don’t have enough clients to fill their day or struggle with inefficiencies in their firms that distract from billable work.

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FASB wants feedback on financial KPIs

Accounting Today

The invitation to comment requests input on financial key performance indicators such as EBITDA and free cash flow and how they should be treated.

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What Every Singapore Restaurant Owner Should Know About GST

Counto

What Every Singapore Restaurant Owner Should Know About GST Understanding Goods and Services Tax (GST) is crucial for restaurant owners in Singapore, as it directly impacts pricing, compliance, and overall financial management. This blog post outlines the essential information that every restaurant owner should know about GST to ensure they remain compliant and optimise their financial operations. 1.

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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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Avoid Holiday Mail Delays, Get Paid Faster with ePayments 

AvidXchange

We’ve all likely experienced challenges with the mail at one time or another. Whether it was a lost package, a delayed delivery, or a stolen piece of mail, it can be frustrating and time-consuming to handle the fallout. Many businesses are starting to realize that trusting critical documents like check payments to arrive securely by mail may not be worth the risk.

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Best 7 Invoicing Software For Financial Services

Invoicera

Managing invoices in financial services is no walk in the park. Every bill, statement, and report has to be just right—because, in this industry, a minor mistake could mean a major migraine. It’s not just about sending an invoice; it’s about doing it with precision, ensuring compliance, and, of course, making a good impression on clients who expect absolute professionalism.

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Accountants eye sustainable business management

Accounting Today

The Institute of Management Accountants released a report on why business sustainability depends on the competencies of management accountants.

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Live Accounting, Instant Insights: Welcome to the Future with Counto

Counto

Live Accounting, Instant Insights: Welcome to the Future with Counto Bringing Real-Time Accounting into Focus As we push forward in redefining accounting , we’re excited to unveil a breakthrough that’s all about transparency, speed, and control: real-time status tracking for all your accounting needs with Counto. With our latest feature, keeping tabs on your financial processes has never been easier or faster.

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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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Simplify Ad Budgets with Spend Management Software

AvidXchange

Managing ad budgets can be difficult for agencies due to the complexity and variability of campaigns across different client accounts. Spend management software can help agencies more effectively track, control, and optimize their ad budgets across multiple clients, projects, and campaigns. Learn About Spend Management for Advertisers What is Spend Management Software?

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Salesforce to NetSuite Integration: The Complete Guide

Nanonets

Integrating NetSuite and Salesforce can be a game-changer for organizations, enabling seamless data flow between the two most common mid-market CRM and financial systems. This guide will help you understand how to integrate the two, what the benefits are, and integration methods that make NetSuite and Salesforce a powerful combination. Overview of Salesforce and NetSuite Use Cases Salesforce and NetSuite are the two leading CRM and ERP software solutions for the mid-market.

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PCAOB offers guidance on auditor responsibilities for detecting, reporting illegal acts

Accounting Today

The Public Company Accounting Oversight Board issued a staff publication amid controversy over its proposed NOCLAR standard.

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Navigating CPF Contributions for Restaurant Staff in Singapore

Counto

Navigating CPF Contributions for Restaurant Staff in Singapore As a restaurant owner in Singapore, ensuring compliance with CPF (Central Provident Fund) regulations is essential. Not only is it a legal obligation, but it also helps secure your employees’ financial future. CPF contributions, though mandatory, can seem complex, especially when managing a team with various salary levels and working hours.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.