Sat.Mar 23, 2024 - Fri.Mar 29, 2024

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IRS encounters Form 1065 processing glitches

Accounting Today

The Internal Revenue Service has posted new information about how to handle possible processing errors when electronically filing Form 1065, "Return of Partnership Income," and ways to avoid them.

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Xero invoicing: how we’re building a smarter, more flexible future

Xero

We recently announced that we’ll be retiring the older version of our invoicing product — classic invoicing — on 2 September 2024. We know you have plenty of questions and concerns about this change, so we thought we’d share an update on what’s happening behind the scenes. The good news: our teams are busy building a new invoicing product that is going to give you far more flexibility and customisation in the future, with beautiful checkout experiences and unlimited payment methods.

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Intuit partners with The Farmlink Project to address climate change and combat food waste

Intuit

Intuit has joined forces with The Farmlink Projec t , a nonprofit organization dedicated to redirecting unsold fresh produce to underserved communities. The joint initiative resulted in over 8 million meals delivered to communities in Los Angeles and prevented over 9 million pounds of food from going to waste since 2023. In addition, more than 13,000 tons of CO2e emissions have been avoided since 2023 with this collaboration, which is equivalent to taking almost 3,000 gasoline-powered vehicles o

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Understanding Dimensions in Dynamics 365 Business Central vs. Segments in Dynamics GP (Great Plains)

Fidesic blog

If you are using Microsoft Dynamics GP and moving to Dynamics 365 Business Central, Dimensional Accounting is one of the major differences you will encounter in your accounting processes. Dimensional accounting has become a standard process available in many contemporary accounting software and ERP solutions. In this post we give a basic definition of Dimensional accounting and then give a rundown on how Business Central Dimensional accounting is different from Dynamics GP processes.

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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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Tax season so far: Looking for answers

Accounting Today

Taxpayers are accessing the IRS website much more this year than last to find the answers they need, with more than 410 millions visits through March 15.

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Streamlining Financial Processes: The Impact of Client Accounting Services on Efficiency

Accounting Department

Efficient financial processes are essential for the success and growth of any business. However, managing tasks like invoicing, payroll management, and financial reporting can be time-consuming and complex, diverting valuable resources from core operations. This is where client accounting services come into play. In this blog post, we will explore how client accounting services (CAS) streamline financial processes for businesses, highlighting the benefits of outsourcing accounting functions to i

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Top Remote Accountants for Hire | March 29, 2024

accountingfly

Top Remote Accounting Candidates This Week Are you struggling to hire remote accountants? Accountingfly is ready to partner with you. With Always-On Recruiting , you can gain full access to a pool of highly skilled and experienced remote accountants. Plus, there’s no up-front cost! Below is a small selection of our available top accounting candidates this week.

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Is there room for number crunchers?

Accounting Today

Is the age of the bookkeeper coming to an end? Is the payroll specialist an endangered species? Are the days of the tax preparer who focuses on basic 1040s numbered?

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Social Media Strategies for Business Growth in the Digital World | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

We are thrilled to announce that Episode 15 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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Podcast | Knowledge as a factor of accuracy and productivity in accounts payable

Cevinio

Welcome to “Knowledge as a factor of accuracy and productivity in accounts payable, the podcast” with Pavel Voronin, Knowledge & Training Lead at Cevinio [.

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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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Predictions for Post Election Tax Law Changes

Insightful Accountant

The Senate Finance Committee recently held a hearing to discuss Biden’s proposed budget and tax law changes and tax pros are now speculating what those proposals may mean for the rest of 2024.

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Tax the rich is actually a popular bipartisan stance, poll shows

Accounting Today

Fully 69% of registered voters in seven swing states say they favor higher taxes on billionaires, and they support higher income taxes on people who make more than $400,000 a year by the same margin.

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Mastering Cash Reconciliation: Process, Best Practices, and Automation Tips

Accounting Department

Balancing the books in any retail enterprise can be a nerve-wracking task. For small business owners and retail managers, ensuring that cash in the register matches the sales receipts is not just about maintaining financial accuracy – it's the linchpin of trust in your business and a crucial safeguard against fraud or operational errors. This comprehensive guide takes you through the intricate yet critical process of cash reconciliation, offering you a clear path to financial vigilance, operatio

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Is it time to start repaying your EIDL?

Reconciled Solutions

Is it time to start repaying your EIDL? Here's what you need to know about the deferment period coming to an end. The post Is it time to start repaying your EIDL? appeared first on Reconciled Solutions.

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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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Practicing Efficiency: The Power of One-Piece Flow in Your Workflow

Insightful Accountant

Have you ever heard of one-piece flow? The concept of one-piece flow stands as a beacon of efficiency. Ben Coleman explains one-piece flow and how to apply it to our daily work routines.

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$1B in 2020 tax refunds remains unclaimed

Accounting Today

Time is running out for nearly 940,000 individuals to claim refunds from 2020, with a May 17 deadline approaching for filing the necessary tax returns.

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Your Guide to Singapore Business Structures and Common Mistakes

Counto

Your Guide to Singapore Business Structures and Common Mistakes Choosing the right business structure in Singapore is a critical decision for entrepreneurs, with implications for liability, taxation, and operational flexibility. However, amidst the excitement of starting a new venture, it’s easy to overlook important considerations and fall prey to common pitfalls.

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Do Audit Opinions Matter? A Discussion with Professor Ed Ketz

Cloud Accounting Podcast

Professor Ed Ketz of Penn State joins the show to discuss audits' current state and future. We delve into the relevance of audits and explore the value of unqualified opinions in making audits meaningful. The discussion also touches on the overstandardization of audit reports and how this can lead to investor misunderstandings. Professor Ketz brings a unique perspective, sparking a debate on whether the existence of the unqualified opinion creates value rather than the content within.

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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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Why Bookkeepers must finely tune their tech skills

Insightful Accountant

Bookkeepers need cloud computing, AI, and automation to enhance service levels. These tools enable quicker and more efficient completion of tasks, ultimately improving overall performance. Read more about it here!

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Tech news: FloQast automates with AI

Accounting Today

Plus, Settle offers three-way matching for purchase orders; Modern Treasury introduces Professional Services offering; and other accounting tech news.

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3 Reasons Why a Cashless Society is Inevitable?

Invoicera

Introduction Entering the 21st century, it’s hard to imagine that you can still conduct transactions without physical currency. That might not be the case in the future, though, as we move toward an era when traditional forms of exchange could become less common and businesses deal exclusively with digital transactions. A society without physical currency is becoming an inevitability as electronic payments and online money transfers become increasingly popular across the globe, particularly in u

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A Sizable Portion of Accountants See No Use Case for AI

Cloud Accounting Podcast

Blake and David look at the potential impact of AI on the accounting profession and discuss how AI tools like ChatGPT can boost productivity by automating tasks, improving communication, and assisting with problem-solving. They also examine the implications of these efficiency gains on the billable hour, predicting that firms will need to adapt their pricing strategies as a result.

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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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QuickBooks Monday Minute | Recurring Transactions

Insightful Accountant

Recurring transactions, a feature in QuickBooks Online, is a powerful tool that can save you time and effort. It automates the creation of transactions that you frequently enter, ensuring consistency and accuracy.

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AI accounting startup raises $100M

Accounting Today

The Series C round was led by the Israel-based Key1 Capital fund and joined by Euclidean Capital, with funds managed by Hamilton Lane.

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7 Steps to Improve Accounts Receivable Management by Accounts Receivable Outsourcing

Outsourced Bookeeping

An effective accounts receivable process is essential for preserving financial stability and a healthy cash flow in today’s changing corporate environment. Nevertheless, many businesses have difficulties that impede their efforts to manage AR, including resource limitations, inconsistent invoices, and late payments. Businesses are increasingly using accounts receivable outsourcing as a strategic strategy in response to these difficulties.

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Smarter Way to Hire, Output Thinking, and Removing Yourself w/ John Seiffer

Jetpack Workflow

Podcast Summary In this episode of the Growing Your Firm podcast, host David Cristello welcomes John Seiffer, a seasoned business owner and remote CEO, to discuss the concept of Output Thinking and its application in team management. John, a business coach and former president of the International Coach Federation , shares insights on how to make managing teams easier by focusing on visible, measurable outputs.

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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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Calculating Your ROI Per Employee

Insightful Accountant

The changing landscape in the tax industry means firms are facing changes at a faster pace than ever. In addition to rapid technology changes, staffing challenges are prevalent and clients are demanding more value-added services than ever.

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MassCPAs finds DEI problems in accounting profession

Accounting Today

The Massachusetts Society of CPAs released a report that identified widespread racial and ethnic disparities in the profession.

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Breaking into Tech and Payments

Plooto

How did you end up in a role in technology? My journey into tech has been shaped by a profound interest in both financial systems and innovation. Over the past five years, I've been deeply entrenched in the dynamic landscape of the tech industry, particularly specializing in the realm of payments. However, my career trajectory has been far from linear, marked instead by a diverse array of experiences that have enriched my perspective.

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Keeping Clean Books: The Foundation of Small Business Success

Less Accounting

The practice of keeping clean books for a small business not only streamlines operations but also fortifies a company’s standing with investors, creditors, and regulatory bodies. Yet, the task of bookkeeping, with its intricate details and the need for precision, can often become overwhelming, especially for small businesses and startups. This is where the significance of having an expert ally, like Less Accounting, becomes invaluable.

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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.