Sat.Dec 30, 2023 - Fri.Jan 05, 2024

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AI in 2024: Intuit Leaders on Possibilities and Pitfalls

Intuit

Widespread adoption of generative AI is now in its second year, and the wow factor has given way to a deeper understanding of its pros and cons. The technology has been in the hands of the public, innovators, and threat actors long enough for predictions about its future to be rooted in experience. Three of Intuit’s technology leaders look to the year ahead and share their perspectives on what AI presents and how organizations will need to both seize the opportunities and tackle the challenges.

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A Financial Controller May Be Just What You Need, And More

Accounting Department

While planning for 2024, the question of whether or not it's time to hire a financial controller may come up for many business owners. To help make that decision easier, this article explains the duties of a financial controller and the benefits of partnering with an outsourced accounting provider, rather than trying to find a controller of your own.

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Lessons from a Year of Fintech 

Intuit

In 2023, the boom-and-bust cycle that affected the broader tech and startup sector was even more acute in fintech. Many companies are facing existential challenges due to threats to their business models, the effects of rising interest rates, and the extreme drops in fintech valuations. Founders are facing tough decisions regarding their path forward, and realizing some of the assumptions and market dynamics that led them to create their businesses have fundamentally changed.

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States cut taxes in 2024

Accounting Today

Fifteen states are reducing either individual or corporate income taxes this year, with some states trimming both individual and corporate taxes, among 34 states starting the year with significant tax changes.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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2024 Game Plan: A bold approach to break the mold and redefine success!

Insightful Accountant

Your golden ticket to transformation. It's not flipping the calendar, but writing the story of 2024. Get ready for innovation, growth, and endless opportunities in the evolving landscape.

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Accounting Trends That Business Owners Can't Ignore in 2024

Accounting Department

Accounting is a critical aspect of any organization, and keeping up with the latest trends and technologies in this field is essential to ensure that businesses remain competitive and successful. As we enter 2024, there are a few key trends that business owners simply cannot ignore. In this blog post, we will explore these trends in detail, discussing how they will impact the industry and what businesses can do to stay ahead of the game.

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Software developers implore accountants to learn AI

Accounting Today

When asked what advice they had for accountants in 2024, there is one thing that company after company suggested: learn AI.

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Prepare for 2024 with What We Learned in 2023

Tipalti

2024 is here. Let's look back at the most significant financial events that helped shape 2023 and be better prepared for the year ahead.

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Data Backup and Recovery Strategies for QuickBooks Enterprise in the Cloud

Ace Cloud Hosting

Accessing QuickBooks Enterprise Software on the cloud involves leveraging cloud-based solutions to host and manage QuickBooks Enterprise, a robust accounting software designed for larger businesses with complex financial needs. Hosted.

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BatchMaster for QuickBooks - Part 3

Insightful Accountant

Murph returns with 'Part 3' of his series on BatchMaster, an application to formulate, produce, ensure quality control and manage batch production/manufacturing that works with QuickBooks.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Electric car models eligible for $7,500 tax credit cut to 13

Accounting Today

Narrower criteria reduced the number of qualifying models from about two dozen. The new rules exclude from the tax credit vehicles that use battery components made by Chinese manufacturers.

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Choosing the Right Accounting Software

SMB Accounting and Consulting

Beyond the mere transition in dates, New Year's marks a universal opportunity for change. It can serve as a catalyst for reflection, inspiring individuals to set resolutions, for themselves and their businesses. The beginning of a new year also means a fresh start for your Income Statement; which is why now is the perfect time to review your accounting software needs.

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5 Compelling Reasons to Switch from Manual to Automated Invoicing Systems

Invoicera

Introduction Have you ever been overwhelmed by stacks of paperwork, especially when sorting through invoices? We have a simpler way to handle all that. Picture this: reducing your time on invoicing, eliminating manual/human errors, and getting your payments quicker. Doesn’t it sound like a game-changer? Statistics show businesses waste an average of 21 hours every week on manual invoicing processes.

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Newman’s Own Satisfies Hunger for Efficiency with NetSuite

Insightful Accountant

Don't know about you, but I'm a fan of Newman's Own Balsamic Vinaigrette. Newman's Own is leveraging NetSuite to reduce operational costs, improve productivity to donate more after-tax proceeds to charity.

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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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IRS inaugurates Tax Professional Awareness Week

Accounting Today

The Internal Revenue Service will be hosting a Tax Professional Awareness Week starting Monday, Jan. 8, to give tax pros an opportunity to get ready for tax season.

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Accounting reports definition

Accounting Tools

What are Accounting Reports? Accounting reports are compilations of financial information that are derived from the accounting records of a business. These can be brief, custom-made reports that are intended for specific purposes, such as a detailed analysis of sales by region, or the profitability of a specific product line. More commonly, accounting reports are considered to be equivalent to the financial statements.

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10 Financial Resolutions for Businesses in 2024 – A Guide for Bookkeepers and Accountants

LedgerDocs

Budget Like a Pro: Revisiting and fine tuning of a business’s budgets are important and should be done regularly. Make it a goal to revisit these monthly or quarterly to stay on top of the businesses progress towards financial targets and help them identify areas for cost-cutting, and advice on allocating resources efficiently. Embrace Technology: A good way to up your clients financial game is suggesting adopting the latest accounting software and financial technology tools.

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The Future of Advising Your Clients Could Be ERP

Insightful Accountant

Murph says, "Size doesn't matter", big or small, for some clients a simple accounting platform works, for many others, it takes much more, it takes an ERP.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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FinCEN begins accepting beneficial ownership reports

Accounting Today

A new online registry opened Monday where companies need to disclose who truly owns or controls them.

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Ep. 247: Adam Lean - Escaping the Accountants Trap

IMA's Count Me

Tune in to listen to Adam Larson as he hosts the Count Me In Podcast, featuring a special conversation with Adam Lean , the CEO and Co-Founder of TheCFOProject.com. Lean shares expert insights on transforming the role of the traditional CFO, offering practical advice and real-life success stories. Don't miss this insider's look into the future of the accounting profession!

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Turning Staff Into Workaholics Makes Them Way Less Productive

Cloud Accounting Podcast

In this 2023 wrap-up, Blake and David discuss an appeals court ruling that audit reports are so generic they are essentially useless to investors. They also explore the concept of "productivity theater" where employees pretend to be constantly working, even though it leads to disengagement and burnout. Continuing the theme, they contemplate why mandatory weekend work persists and share ideas on how firms can improve work-life balance.

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January's QB Talks is a 2024 ProAdvisor Meetup

Insightful Accountant

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

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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Some audit disclosures may prompt companies to manipulate earnings

Accounting Today

Auditor disclosures of client-specific quantitative materiality thresholds, which are required in the U.K. but not the U.S., could be encouraging some businesses to massage their earnings reports.

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Overcoming Burnout to Create a Sustainable Accounting Practice

Earmark Accounting Podcast

Hitendra R. Patil joins Blake for an insightful conversation about the staffing shortage in the accounting profession, identifying overwork and lack of work-life balance as key issues causing high burnout rates. They explore potential solutions like dropping the billable hour model, measuring impact rather than hours worked, outsourcing certain tasks, and focusing on specific value-added services.

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6 Cloud Orchestration Strategies to Optimize your Cloud

Economize

What is Cloud Orchestration? Cloud orchestration, an advanced aspect of hybrid and multi-cloud management, plays an important role in enhancing operational efficiency, reducing costs, and enabling agile cloud operations. Modern businesses face a growing challenge: managing an increasingly complex cloud environment.

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3 Downloadable Guides to Managing the Change to QuickBooks Online

Insightful Accountant

As an accounting practice grows, it must adapt to meet clients' needs. This includes assessing technology requirements for both the firm and clients.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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IRS signs $32M deal for data delivery services

Accounting Today

The contract will provide development support to two mission-critical systems at the agency.

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The SMBs Guide to Conquering the Cloud with Amazon S3

Ace Cloud Hosting

The Secret Weapon in Your SMB’s Arsenal: Why Amazon S3 is the Storage Solution You Need For small and medium businesses or SMBs, data serves as the lifeline. This includes.

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Top 12 Accounting Automation Tools For 2024

Invoicera

Introduction The demand for precision, speed, and efficiency in financial management is more critical than ever. This is where accounting automation comes into the picture. Accounting automation tools have made a significant place in today’s digital world. According to a recent report by McKinsey, nearly 50% of finance activities can be automated. However, with lots of tools available, choosing one of them can be overwhelming.

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More about the QBO Advanced Fixed Asset Feature

Insightful Accountant

We introduced you to the Fixed Asset Feature in QBO Advanced last August, now we want to show you some more details.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.