Sat.Dec 09, 2023 - Fri.Dec 15, 2023

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Four Pitfalls of Delayed Invoice Payments

Enterprise Recovery

When clients fail to pay their invoices on time, it can negatively impact your cash flow and harm your business in various ways. Maintaining a healthy cash flow is crucial for the success of your business, so it is essential to address any issues with late payments promptly and find effective solutions to ensure a steady and stable financial foundation.

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QuickBooks Desktop Is Dead. Long Live Online!

Cloud Accounting Podcast

Blake and David discuss Intuit's announcement that QuickBooks Desktop will no longer be sold as new subscriptions after July 2024. They also talk about the need for changes in the accounting profession, such as simplifying financial reporting requirements and revising the 150-hour rule. In other news, they cover sanctions against China-based accounting firms, incorrect IRC claims by businesses, and the Adidas-Kanye West fallout.

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Finding the Best Invoice Processing Software in 2024

Nanonets

Your accounts payable team – whose main function is to ensure funds are disbursed properly to vendors, business partners, and sometimes customers – processes an exorbitant number of invoices every single week. When done manually, processing an invoice can take days. If an AP expert has to conduct three-way matching checks , route the invoice to the proper department for approval , initiate the payment process, and get another approval before sending funds, there are many potential

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IRS plans foreign tax credit rules

Accounting Today

The Treasury Department and the Internal Revenue Service expect to issue proposed regulations to address the application of the foreign tax credit and related rules and the dual consolidated loss rules to certain types of taxes described in the GloBE Model Rules.

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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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A Place Where Women in Sales Want to Work

Intuit

Championing women in sales When companies ramp up their diversity and inclusion efforts, their focus usually goes to tech and engineering roles. But women are underrepresented in sales, too. That’s why it’s meaningful that Intuit was recently recognized as number one on the list of the “Top 25 Companies Where Women Want to Work” released by GirlsClub, a professional organization focused on getting more women in sales leadership.

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Budgeting and Planning for 2024: A Guide for Businesses

Accounting Department

With a new year just around the corner, it's time for organizations to start thinking about their budgets for 2024 - if they haven't already. Effective budgeting and planning are critical to the success of any business. It helps in making smart financial decisions, optimizing resource allocation, and achieving business objectives.

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IRS restructures leadership

Accounting Today

The Internal Revenue Service has reorganized its leadership structure at the top, with a single deputy IRS commissioner instead of two, and four chief executives to lead taxpayer service, compliance, information technology and operations.

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Twelve Months of New Features: a 2023 Recap

Compleatable

Our developers have been hard at work this year, listening to feedback from our iCompleat users and constantly improving your experience. Cast your mind back to January (insert ‘it feels like a lifetime ago’ comments here!)- a New Year, and some new tweaks to your user experience. We made it even easier to create a new order by adding the layout and supplier within the Requisition form, as well as adding a shiny new duplicate function to Purchase Orders.

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AccountingDepartment.com Gears Up for its 10th Vistage ChairWorld

Accounting Department

We're happy to announce that AccountingDepartment.com is gearing up for its 10th Vistage ChairWorld event in January! As a proud National Sponsor for the past decade, this event holds a special place in our hearts, and we can't wait to reconnect with familiar faces and forge new connections in 2024.

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Five tech trends for small businesses in 2024

Xero

In the early 2000s, accessing the internet was through a dial-up connection which could take anywhere from 30 seconds to a couple of minutes to establish a connection. In 2023, generative AI tools can generate poems, short stories and complex legal and medical documents in a matter of seconds. The pace of technological change is accelerating and it’s reshaping just about every aspect of how we live, work, socialise and play.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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FASB issues cryptoasset standard

Accounting Today

The Financial Accounting Standards Board released its long-awaited accounting standards update to improve the accounting for and disclosure of certain cryptoassets.

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Twelve Months of New Features: a 2023 Recap

Compleatable

Our developers have been hard at work this year, listening to feedback from our iCompleat users and constantly improving your experience. Cast your mind back to January (insert ‘it feels like a lifetime ago’ comments here!)- a New Year, and some new tweaks to your user experience. We made it even easier to create a new order by adding the layout and supplier within the Requisition form, as well as adding a shiny new duplicate function to Purchase Orders.

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Coaching Work-Life Balance from a Management Level | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

We are thrilled to announce that Episode 8 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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Faces in FinOps Podcast: Episode 15 with Eli Mansoor, Pt. 1

ProsperOps

“Faces in FinOps” is hosted by Jon Myer and powered by ProsperOps. Greetings and welcome to another stellar episode of the Faces In FinOps Podcast, powered by ProsperOps, with your host, Jon Myer. This week we’re excited to have Eli Mansoor , a FinOps evangelist and CEO/Founder of OskaQ Consulting , a business focusing on improving cloud customers’ gross margin by optimizing vendors’ agreements and cloud spend.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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AICPA sees threat to CPA state mobility

Accounting Today

The American Institute of CPAs provided information for U.S. accounting professionals on the potential impact on their out-of-state engagements if some of the pending legislation in some states on licensure requirements is enacted.

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Designing Future-Proof Purchase-to-Pay Operations

Cevinio

We will uncover Alpar’s insights on maintaining an effective P2P team, with a special focus on the transformative power of automation technology. Additionally, we’ll discuss AP challenges and, more importantly, solutions to overcome them. During this interview, you will learn about: Keys to having an effective P2P function The transformative impact of AP automation: before and after Important features in AP Automation for operational success Factors for a successful transformation Ab

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5 Trends That Will Impact Your Business in 2024

Compleatable

It’s almost that time of the year again: time to adorn the office Christmas tree in tinsel, share your Spotify wrapped with anyone who will listen, and eagerly draft up your seasonal out-of-office message. While many of us take time to celebrate the year’s achievements (and by achievements I mean yay- we survived!), it’s also a crucial time to look forward at 2024 and predict what will be in store.

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AIOps Explained: Transforming IT with Artificial Intelligence

ProsperOps

AIOps is a convergence of AI and IT operations, helping AWS users grapple with the intricacies of cloud computing. According to McKinsey, 70% of companies will employ hybrid or multicloud management technologies, tools, and processes in the years ahead. Because of this relentless pace of technology development, AWS customers often find themselves managing complex IT problems, and the challenge they face is to keep up without compromising customer service.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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IFAC to revise education standards for sustainability

Accounting Today

The International Federation of Accountants' planned revisions will include some new and revised learning outcomes to meet the demands for sustainability reporting and assurance.

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How to Safeguard AP Operations Against Invoice Fraud

Cevinio

How to Safeguard AP Operations Against Invoice Fraud The rapidly growing invoice fraud risk poses a significant threat to businesses. Having the potential to cost hundreds of thousands of dollars in losses, it can decimate business-to-business relationships and cause irreparable damage to an organization’s good reputation. It’s imperative to protect your organization against invoice fraud, also known as AP fraud, as a result.

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5 Trends That Will Impact Your Business in 2024

Compleatable

It’s almost that time of the year again: time to adorn the office Christmas tree in tinsel, share your Spotify wrapped with anyone who will listen, and eagerly draft up your seasonal out-of-office message. While many of us take time to celebrate the year’s achievements (and by achievements I mean yay- we survived!), it’s also a crucial time to look forward at 2024 and predict what will be in store.

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Sage 50 – Features, Use Case, Alternatives, & Limitations

Ace Cloud Hosting

Managing finances and accounting is a crucial aspect of any business, regardless of its size. Sage 50 Accounting software has long been a trusted solution for businesses looking to streamline.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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IFAC sees need for internal controls for sustainability

Accounting Today

The International Federation of Accountants wants organizations to combine sustainability reporting with their existing internal control and governance frameworks.

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Manolo Blahnik Pairs with NetSuite

Insightful Accountant

Fashion shoe brand Manolo Blahnik uses NetSuite to enhance supply chain efficiency, consolidate financial processes, and improve visibility into its growing global operations.

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6 Benefits of AI Insurance Claims Processing

Nanonets

A survey by Accenture on underwriting employees found that up to 40% of underwriters’ time is spent on non-core and administrative activities. They estimate that this represents an industry-wide efficiency loss of up to $160 billion over the next five years. Integrating AI and automation into the underwriting workflow presents a significant opportunity to minimize the time allocated to administrative tasks, manual processes, and repetitive data entries.

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Plooto bolsters executive team with seasoned fintech leaders from PayPal and Xero

Plooto

The strategic Risk and Partnerships hires will build on Plooto's 2023 momentum and supercharge market expansion in 2024 to further support growing businesses

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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

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IRS tax demands would take money from victims of FTX bankruptcy

Accounting Today

U.S. officials will take money away from victims of the fraud-tainted crypto firm unless a judge rejects the government's demand for $24 billion in unpaid taxes, the bankrupt company said in a court filing.

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ProAdvisor Training Tab Includes Tax

Insightful Accountant

Tax training has been added to the QuickBooks Online Accountant, ProAdvisor Training tab. Training is available for both ProConnect Tax Online and Intuit Tax Advisor products.

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Chicago Paid Leave and Paid Sick and Safe Leave Ordinance

Reconciled Solutions

What you need to know about the Chicago Paid Leave and Paid Sick and Safe Leave Ordinance and paid time off requirements for Chicago workers. The post Chicago Paid Leave and Paid Sick and Safe Leave Ordinance appeared first on Reconciled Solutions.

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5 Tips to Reduce Your Cash Conversion Cycle

Gaviti

When you shorten your cash flow conversion time, you improve liquidity. You can then use this cash to pay bills on time, increase staffing, invest in research and development, or expand into new markets. These are just some of the uses that make strong cash flow an important metric for determining the health and potential longevity of businesses. The trick is knowing how to reduce cash conversion cycle times while still preserving good relationships with your customers.

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Travel and Expense Policy Success: Your Essential Checklist

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.