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The Xero Responsible Data Use Advisory Council recently held its seventh meeting, with a focus on the extraordinary developments in the field of generative AI, and the myriad potential applications for small business. The council is made up of myself, Laura Jackson of Popcorn Shed (business owner), Maribel Lopez of Lopez Research (technology analyst), Wyndi and Eli Tagi of WE Mana (advisors), Aaron Wittman of XBert (app developer), Anna Johnston of Salinger Privacy (privacy compliance speciali
Are you a Microsoft Dynamics GP user, consultant or enthusiast? In this post we are sharing a whole bunch of Microsoft Dynamics GP blogs. These are not ranked or in any particular order. We will include descriptions and links to all.
The world of accounts payable (AP) is undergoing a significant transformation, with artificial intelligence (AI) and machine learning (ML) technologies playing a crucial role in this evolution. Cutting-edge technologies are reshaping accounts payable automation. We will discuss intelligent invoice processing, AP workflow automation, and AI-driven AP solutions.
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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.
The annual Xero Awards is a particularly special night for us at Xero. It’s a chance for us to show our appreciation and admiration to the many incredible accounting, bookkeeping, and app partners in our community. This year’s awards evening, which took place at Ministry Venues, Elephant & Castle, showcased the achievements of the “rockstars” of the accounting world.
Simple, Automatic Amortization Tracking for Prepaid AWS Reserved Instances and Savings Plans AWS Reserved Instances (RIs) and Savings Plans (SPs) have three payment models: No Upfront : where you pay a discounted hourly rate over the term of the commitment, Partial Upfront : where you pay a portion (generally half) of the total value of the commitment upfront and the remaining portion hourly over the term, and All Upfront: where you pay the full amount of the commitment at the time of purchase W
Last week, AccountingDepartment.com Business Development Representatives, Shawn Marcum, and Luke Backus attended the 2023 Entrepreneurial Operating System (EOS) Conference in Indianapolis, IN.
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Last week, AccountingDepartment.com Business Development Representatives, Shawn Marcum, and Luke Backus attended the 2023 Entrepreneurial Operating System (EOS) Conference in Indianapolis, IN.
Are you a Microsoft Dynamics GP user, consultant or enthusiast? In this post we are sharing a whole bunch of Microsoft Dynamics GP blogs. These are not ranked or in any particular order. We will include descriptions and links to all.
Struggling with time-consuming and inefficient accounts payable processes in your healthcare organization? Dive into this comprehensive blog post to learn how healthcare AP automation can help streamline invoice processing, reduce costs, and enhance patient care, offering valuable solutions to your AP challenges. Choosing the right solution can provide performance similar to that of OU Health.
optimizations, it’s often more cost-effective—and easier—to implement financial optimizations first. During a recent webinar with the CFO Leadership Council , Matt Shover, VP of Operations & Customer Experience at ProsperOps, explained different strategies companies can use to reduce cloud costs and the best way to prioritize them for maximum “bang for your buck.
When Sebanti Sanyal’s toddler was struggling with severe allergies and respiratory issues, she decided to step back from her career to care for her young daughter full time. Then, when the pandemic hit, she took an additional two years away before returning to her engineering career through our Intuit Again returnship program in September 2022. Intuit Again provides a supportive pathway back into the workforce after taking a career break for caregiving purposes, including the opportunity for ret
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
Will Hill, of Will Hill Consults and Ryan Conn, President, Shelton & Associates CPS's are hosting a 2 day immersive event to help you re-arrange and execute so that your work becomes rewarding, not exhausting.
Few activities in business have as much impact in reducing costs, eliminating waste, detecting fraud, and improving the bottom line than spend management. It is the foundation for operational efficiency, cost containment, and visibility throughout the company.
Your cloud costs are too high. Given a myriad of methods and tools for optimizing cloud costs, where do you start and where can you save the most? While many organizations prioritize engineering optimizations, it’s often more cost-effective—and easier—to implement financial optimizations first. During a recent webinar with the CFO Leadership Council , Matt Shover, VP of Operations & Customer Experience at ProsperOps, explained different strategies companies can use to reduce cloud costs and
When you’re looking for ways to fund your business, you’ve got to look at every possibility to find the right fit and create your ideal funding mix. Maybe you’ve decided that getting your invoices paid in advance makes sense and you’re researching all the possible ways it can be done. As entrepreneurs ourselves, we understand […] The post Invoice Factoring vs Reverse Factoring: Which is Best for Your Business?
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.
How Rewind helped this Canadian bookkeeping team put their clients at ease when transitioning from an on-premises accounting solution to cloud-based software.
Working with an accountant offers many benefits, but it can also create problems. If the relationship between your business and your accountant isn’t dynamic, it won’t be as constructive as it could be. Accountants aren’t known for their customer service skills. A lot of them would much rather deal with numbers than people, but you confide almost everything about your business to them, so they need to be someone you trust.
FTX had 80,000 transactions in Ask My Accountant; the crazy cost accounting behind EY's failed breakup; using ChatGPT for financial statement analysis; what the tech world thinks AI will automate in accounting and more! LiveFlow - [link] Chapters (00:00) - CAP 329 (00:39) - PREVIEW: How ChatGPT saved Erica (01:09) - Introduction (07:48) - FTX had 80,000 transactions in Ask My Accountant (12:04) - Blake plays a clip from the All-In podcast on AI accounting (17:25) - ChatGPT vs real accountants an
As a small business, how are you managing accounts payable? Early on with a small business, it’s pretty common to use a manual, paper-based process. You simply write a check for invoices when they come in, and you might track payments in Excel or some other program. Later, you might start using accounting software like QuickBooks to help make things easier.
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?
When it comes time to end your professional relationship with a client, you can find yourself at a loss for words on how to communicate this with them. If you’re too easygoing, the client may think you don’t appreciate all the years you worked together. However, if you’re too harsh, it could leave a bitter taste in their mouth. Striking the right balance between being firm and understanding as you terminate your client’s contract is never easy, no matter the reason.
Effective accounts receivable management is one of the most critical aspects of boosting steady cash flow for your business. The AR team must identify problems and seek long-term solutions. Taking this proactive approach can smooth problems over before they spiral out of control. Every business is different. Issues vary based on industry, business size, geographical location, and company culture.
Listed as an asset on financial statements such as the balance sheet , accounts receivable is an important resource to your business. It's considered an asset because it can be converted to cash if collected within the payment terms set in your client contracts. If it's not collected in a timely manner, it becomes a drain on company resources. Policies and procedures must be documented to increase the success of these collections.
Related Courses Cost Accounting Fundamentals A period cost is any cost that cannot be capitalized into prepaid expenses , inventory , or fixed assets. A period cost is more closely associated with the passage of time than with a transactional event. Since a period cost is essentially always charged to expense at once, it may more appropriately be called a period expense.
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.
Dive into the world of ESG (environmental, social, and governance) at IBM with our latest episode of Count Me In. Today we discuss the challenges and successes of implementing ESG objectives in a global corporation. John our Guest John Mahoney, ESG External Reporting Project Manager and hear how IBM's commitment to sustainability, open communication, and cross-functional collaboration is driving positive change and shaping the future.
How many times do we, as ProAdvisors, forget to teach this essential part of QuickBooks Desktop Reporting to our clients? They wind up thinking QB cannot provide the clean, clear reports they want—yet it can.
Accounting automation is quickly becoming an essential part of successful financial management. By automating accounts payable and accounts receivable processes, businesses can reduce costs, decrease errors, and improve the accuracy of their financial reporting. A CFO Guide to Accounting Automation: Impacts, Benefits, and Tips In this guide, we will explore the potential impacts of accounting automation , the benefits it can offer to organizations of any size, and tips for making the most of aut
Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management What is the FUTA Tax? FUTA is an unemployment tax that is charged to employers. The FUTA acronym is short for the Federal Unemployment Tax Act. The amounts paid in by employers go into a federal fund that pays the cost of administering the unemployment insurance and job service programs in all states.
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.
It’s cloud earnings week this week for AWS, GCP, and Azure, and I have already heard the pundits warming up the hot takes. Some are even asking if this could be the end of the cloud. My advice to you: Don’t be that person unless you enjoy being horribly wrong. No, I'm not saying that when AWS, Azure, and GCP report their growth that it's going to be anything different than what we expect.
Financial Data: The Role of Analytics in Accounting Small and Medium-sized Enterprises (SMEs) play a critical role in Singapore’s economy, contributing 48% of its GDP. As the business landscape continues to evolve at a rapid pace, the demand for accurate and reliable accounting services for small businesses in Singapore cannot be overstated. With the increasing complexity of financial data, it has become essential for businesses to utilise the latest analytics tools to make informed financial de
The accounting equation is the foundation of financial accounting. Learn how to use this formula to balance your books and understand your business's financial health.
Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement There are several key differences between an audit , a review , and compilation. Essentially, a compilation requires the auditor to simply present financial statements based on the representations made by management, with no effort to verify this information.
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.
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