Sat.Dec 16, 2023 - Fri.Dec 22, 2023

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11 things we’ve learned about using AI together

Intuit

AI is changing the game across industry sectors around the world. While some companies are struggling to upskill their workforce in this supercharged environment, Intuit is staying a step ahead. Shannon Orr, Intuit’s assistant general counsel for AI, says, “We want to be innovators. We want to experiment.” That’s why we’re encouraging our employees to explore a wide variety of use cases with AI and generative AI (GenAI).

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Outsourced Client Accounting Services: Streamlining Financial Management

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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Cloud Hosted QuickBooks Enterprise Security for Your Business – A Comprehensive Guide

Ace Cloud Hosting

QuickBooks Enterprise is a comprehensive accounting software designed to help businesses manage their finances, inventory, and operations efficiently. Being a repository for sensitive financial information, QuickBooks Enterprise demands a comprehensive.

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IRS grants $1B in penalty relief

Accounting Today

The relief will go to roughly 4.7 million taxpayers who weren't sent collection reminder notices during the pandemic.

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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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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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QuickBooks Revises 1099 Process for 2023 Filings

Insightful Accountant

Preparing, filing, and correcting 1099s is now easier than ever in QuickBooks Online. New workflow, reporting, free e-file of corrections and E-file payment flexibility and will be available for the 2023 filing period.

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Types of Reports in QuickBooks: A Comprehensive Guide

Accounting Department

Reports play a crucial role in managing a business effectively, and QuickBooks provides a wide range of reports that can help small and medium-sized businesses track their financial performance and make informed decisions. These reports provide valuable insights into various aspects of the business, such as income, expenses, sales, inventory, and payroll.

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The 2023 Top 100 People: Fixing the pipeline problem

Accounting Today

Accounting's influencers offer their advice for solving the profession's most critical issue.

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Latest Desktop Release Updates: "Mass Migration"

Insightful Accountant

Intuit's latest release updates to QuickBooks Desktop 2024, 2023 and 2022 are aimed as "Mass Migration" to QuickBooks Online.

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Accounting Work Life Balance: 10 Tactics for Success

Future Firm

If you're striving for accounting work life balance, check out this article that lists 10 actionable tips & tricks to help get you there. The post Accounting Work Life Balance: 10 Tactics for Success appeared first on Future Firm.

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How Automation is Changing the Game for Today’s Accountants

Plooto

In 2024, accountants will no longer be deemed company number crunchers as they gain access to technology that allows them to play an increasingly strategic role in business decisions. It’s a role transformation that’s already begun, sparked by the accelerated adoption of digital accounting, fueled by cloud computing, automation, and AI.

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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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IRS warns seniors: Take your RMDs

Accounting Today

Those 73 and older need to make sure they're taking their required minimum distributions from IRA and other retirement accounts.

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Intuit Launches New Global Brand - 'Business Differently'

Insightful Accountant

Intuit has announced a new global QuickBooks brand platform, “Business Differently,” focused on the growing population of solopreneur small business owners.

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Practical AI: Drafting Policies & Procedures

Blake Oliver

Drafting policies and procedures docs was one of my least favorite tasks as a business owner. But now I love it. This year, I started using AI to write my first drafts of policies and process docs for my team. It cuts the time in half, and I get better results. Watch the video to learn two ways to get started using AI chatbots to draft documentation: ✔️ Use a Q&A prompt to have AI give you a list of questions.

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Top 25 Accounting Influencers You Should Follow in [2024]

Ace Cloud Hosting

The accounting profession helps businesses drive successful commerce around the world. From tax law changes to financial statement reporting changes, so much is happening in this space that it can.

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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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Employers get a break on sketchy ERCs

Accounting Today

The IRS is rolling out a voluntary disclosure program to let businesses pay back Employee Retention Credits they claimed in error.

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January's QB Talks is our 2024 ProAdvisor Meetup

Insightful Accountant

Insightful Accountant will host a 'talkative' ProAdvisor Meetup for our first QB Talks of 2024. ProAdvisors are invited to this 'open mic' discussion of issues surrounding the ProAdvisor Awards, the ProAdvisor Program and QuickBooks Desktop 2024.

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How to account for customer advance payments

Accounting Tools

A customer may pay in advance for goods being delivered or services being provided. Possible reasons for a customer advance are noted below. Customer Advance Due to Bad Credit The seller is unwilling to advance credit to the customer and so demands payment in advance. This is most common when the amount of the sale is quite large, since extending credit would represent a substantial risk for the seller.

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16 Benefits of Cloud-Based Subscription Management

Billing Platform

Cloud services continue to evolve for businesses large and small (no matter the industry). This environment features many benefits like improved performance and high availability, business continuity, centralized data security, and cost savings. While the cloud has been adopted for many internal processes, billing and more specifically subscription management are only just beginning to embrace cloud-based subscription management and its benefits.

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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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IRS expands business tax accounts

Accounting Today

Individual partners and individual shareholders of S corps can now get a business tax account.

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QBO Monday Minute | Balance Sheet Budgeting in QuickBooks Online

Insightful Accountant

Join Liz Scott as she dives into QuickBooks Online Balance Sheet Budgeting feature which is fairly new.

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What is accountancy?

Accounting Tools

Accountancy is the practice of recording, classifying, and reporting on business transactions for a business. It provides feedback to management regarding the financial results and status of an organization. The key accountancy tasks are noted below. Recordation The recording of business transactions usually involves several key transactions that are handled on a repetitive basis, which are issuing customer invoices , paying supplier invoices, recording cash receipts from customers, and paying e

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1099 Rules

Tipalti

Stay compliant in 2024: unravel Form 1099 rules to help navigate tax regulations seamlessly and stay on top of the constantly-changing business taxes landscape.

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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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Tax preparers — time to prepare!

Accounting Today

A look at the credits, regulations and other tax developments that will shape the coming tax season.

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Badge Happy ProAdvisor Skill Training Now Available

Insightful Accountant

ProAdvisors love their Badges, so Intuit has created two new Knowledge Badge training programs focusing on skills surrounding 'Banking' and 'Reporting'. You can also earn points for the 2024 ProAdvisor Awards with these two new Badges.

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Formula for the present value of an annuity due

Accounting Tools

What is the Formula for the Present Value of an Annuity Due? The present value of an annuity due is used to derive the current value of a series of cash payments that are expected to be made on predetermined future dates and in predetermined amounts. The calculation is usually made to decide if you should take a lump sum payment now, or to instead receive a series of cash payments in the future (as may be offered if you win a lottery).

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Building a Firm to the Right Size with Keila Hill-Trawick, CPA

Cloud Accounting Podcast

Keila Hill-Trawick joins Blake and David to discuss her philosophy on intentionally building a firm to the "right" size, rather than pursuing endless revenue growth. She also explains how her firm narrowed its service offerings to focus on core recurring services like tax planning and fractional CFO work. Blake and David examine research on how much money Americans think they need annually to be happy, with millennials citing much higher targets.

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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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Aprio expands in Texas

Accounting Today

The Top 100 Firm is merging in San Antonio- and Austin-based Ridout Barrett & Co.

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Something new is coming to Insightful Accountant!

Insightful Accountant

Insightful Accountant's cooking up something new for you next year. A new and exciting webinar series: Insightful Accountant's Practice Management Talks.

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Payroll accounting | Payroll journal entries

Accounting Tools

What is Payroll Accounting? The accounting for payroll involves all aspects of calculating and paying compensation to employees, including the payment of withholdings to third parties. The outcome of this process is documentation of the expenses associated with all types of compensation, as well as timely payments to employees. Payroll Process Flow Payroll processing requires you to complete a number of steps, which are presented below.

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Save Big: 10 Cost-Effective Alternatives To FreshBooks

Invoicera

Looking for cost-effective FreshBooks alternatives? Although FreshBooks has been a choice for many, it is always better to get software within your budget. A study has also found that over 40% of small businesses switch their financial software within the first two years. Thus, many invoicing software options are available in the vast market. We have listed 10 FreshBooks alternatives for you.

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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.