December, 2024

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The best and worst states for taxes in 2025

Accounting Today

States that do not assess the major taxes are more competitive than states with complex taxes with high rates.

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What’s new in Xero – December 2024

Xero

Welcome to our monthly roundup of what’s new in Xero. This month, we’ve introduced updates designed to help you to get paid faster, streamline tax rules and regulations compliance, and manage your sales tax with ease. With enhancements from the ability to send invoices via SMS to improvements in Xero Tax and sales tax reporting, we continue to make Xero even better.

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It's Giving Tuesday at AccountingDepartment.com

Accounting Department

Join AccountingDepartment.com in supporting the research, funding and treatment for rare diseases and Alternating Hemiplegia of Childhood.

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FOCUS Sandbox and sample data available now

FinOps Foundation

Key Insight: To support the adoption of FOCUS , the FinOps Foundation has augmented the Use Case Library with the introduction of the FOCUS Sandbox. FinOps Practitioners can use this sandbox to run SQL queries on actual (anonymized) FOCUS billing data to gain a clear understanding of what FOCUS data looks like, and the real-world insights it yields.

FinOps 130
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Breaking Ground on Better Payment Processes: Strategies for Construction Pros

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

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Candace Walker is Bringing Different Generations Together

Intuit

Check out the inspiring stories of entrepreneurs who participated in the Intuit IDEAS program and are making a difference in their communities. Bridging the digital divide in communities that often get overlooked Candace Walker, the CEO and founder of Los Angeles-based Generation Connect , is a shining example of the impact of Intuit IDEAS. Inspired by her widowed mother and teenage children, Candace founded Generation Connect, a social impact startup that helps teens and seasoned adults work to

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A Step-by-Step Guide to Implementing Purchase Order (PO) Automation

Compleatable

Purchase Order (PO) automation is a decisive influence for businesses striving to enhance operational efficiency, reduce manual workload, and improve financial accuracy. However, a successful implementation requires thorough planning and strategic execution. This guide outlines the steps for UK organisations to seamlessly transition to PO automation.

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Climate reporting legislation: What it means for small businesses and accountants

Xero

From January 2025, new climate reporting legislation will be introduced. It will require big businesses in Australia to track their carbon emissions and include the results in sustainability reports , which they’ll need to submit alongside their other annual reporting obligations. While this law directly targets businesses with more than 100 employees, the impact will inevitably trickle down to their suppliers, who may need to provide emissions data to them.

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Why CFO Support Services Are Essential for SMBs in 2025

Accounting Department

In 2025, small and medium-sized businesses (SMBs) face a rapidly changing economic landscape. From navigating inflation and supply chain disruptions to adopting new technologies and meeting rising customer expectations, business owners have a lot on their plates.

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Microsoft Cloud Sees AI and Sustainability Central in the Future of FinOps

FinOps Foundation

Interview with Srivatsan Kidambi, VP of Engineering at Microsoft. Interview with Cyril Belikoff, VP of Microsoft Azure & Industry Clouds. Key Insight: Microsoft integrates GenAI into FinOps tooling to help all stakeholders get insights from cost and usage data. Microsoft is also focused on sustainability initiatives to bring carbon and cost data together.

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Intuit and Amazon Expand Strategic Partnership

Intuit

Today, Intuit and Amazon announced a multi-year strategic partnership to empower millions of Amazon sellers to manage their finances, stay compliant, access capital, and grow their business. By leveraging Intuits AI-driven expert platform, millions of Amazon sellers will be able to discover and access Intuits platform seamlessly, benefiting from powerful financial insights like profitability, cash flow, and estimated tax liabilities to fuel their growth.

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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Your Guide to Managing Recurring Revenue

Billing Platform

In contrast to traditional sales models that consist of one-off purchases, recurring revenue delivers a predictable and stable revenue stream. Occurring at regular intervals, recurring revenue provides companies with revenue on a monthly basis (MRR) , annual basis (ARR) , and/or other predetermined time frames. Want to dig a bit deeper? Read on to gain a better understanding of recurring revenue , the importance of this revenue model, its benefits, what it takes to maximize recurring revenue suc

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BOI filing uncertainty continues

Accounting Today

An injunction from a federal court has paused CTA enforcement, but not eliminated the possibility of it in the future.

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Malaysia’s National E-invoicing Initiative: What SMEs need to know

Xero

With the Malaysian government’s push towards a digital economy, small and medium enterprises (SMEs) must adapt to new requirements. One key development is the National E-invoicing Initiative. This initiative aims to modernize how businesses manage invoices, helping to streamline operations, improve compliance, and enhance efficiency across industries.

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Navigating the Hidden Costs of Business Decisions: The Crucial Role of Opportunity Cost

Accounting Department

In the dynamic world of entrepreneurship and business management, every decision you make can significantly impact your business's trajectory. Whether it's choosing between investing in new technology or expanding your product line, the choices are endless and often complex.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Moving Beyond OCR: How Ascend AP Delivers True Accounts Payable Automation

Ascend Software blog

OCR Technology: A Great Start for AP Efficiency As businesses look to modernize their accounts payable (AP) operations, Optical Character Recognition (OCR) has become an important tool for streamlining invoice processing. Solutions like Workdays Supplier Invoice Automation (SIA) leverage OCR to extract invoice data, reduce manual data entry, and speed up workflowsan excellent first step for many organizations.

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Intuit Appoints Thomas Ranese as CMO

Intuit

For over 40 years, Intuit has worked to find new, innovative ways that technology can solve our customers’ most important financial problems. In this era of artificial intelligence, our global AI-driven expert platform strategy will revolutionize the customer experiences we deliver around the globe. To realize the opportunity in front of us, we must continue to evolve our commercial strategy to go to market as a platform, embracing AI to better understand our customers, personalize their journe

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What to Look Out for in 2025: Finance, Purchasing & AP Automation Trends

Compleatable

The world of finance, purchasing, and accounts payable (AP) automation is transforming rapidly, and 2025 is set to bring even more significant changes. To stay ahead, businesses must be prepared to embrace cutting-edge technology and strategies that enhance efficiency, reduce costs, and foster resilience. Heres what to watch for in the coming year: The Rise of Hyper-Automation in Finance Automation is no longer a novelty; in 2025, hyper-automation will dominate.

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The 2024 Top 100 People: The most vital issues in accounting

Accounting Today

Accounting's most influential outline the profession's biggest challenges.

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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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Your ultimate payroll year-end 2024/25 checklist: steps and deadlines

Xero

Itd be one thing if payroll year-end meant a single last pay run. But this busy period involves meeting multiple deadlines and submission dates, all while following HMRC rules. Whether youre a seasoned payroll manager or doing it for the first time, payroll year-end can be tricky. Heres a step-by-step guide to the process. What is HMRC payroll year-end?

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AccountingDepartment.com Gears Up for its 11th Vistage ChairWorld

Accounting Department

We're happy to announce that AccountingDepartment.com is gearing up for its 11th Vistage ChairWorld event in January! As a proud National Sponsor for the last 11 years, this event holds a special place in our hearts, and we can't wait to reconnect with familiar faces and forge new connections in 2025.

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Top Challenges Faced By Retailers and How Cloud Solves Them

Ace Cloud Hosting

The retail industry is navigating a rapidly evolving landscape driven by shifting consumer behaviors, supply chain disruptions, and fierce competition. Retailers are under constant pressure to adapt to these changes.

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How Metered Billing Benefits Your Business

Billing Platform

Similar to usage-based and consumption-based billing , metered billing is based on actual usage of a product or service, providing a transparent approach to billing. By establishing a direct link between consumption and cost, customers pay according to the amount consumed no more, no less. And when it comes to metered billing benefits, this popular billing model certainly doesnt fall short.

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

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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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What to Look Out for in 2025: Finance, Purchasing & AP Automation Trends

Compleatable

The world of finance, purchasing, and accounts payable (AP) automation is transforming rapidly, and 2025 is set to bring even more significant changes. To stay ahead, businesses must be prepared to embrace cutting-edge technology and strategies that enhance efficiency, reduce costs, and foster resilience. Heres what to watch for in the coming year: The Rise of Hyper-Automation in Finance Automation is no longer a novelty; in 2025, hyper-automation will dominate.

AP 100
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Practice Profile: Dreaming up a better tax season

Accounting Today

Al-Nesha Jones envisioned a better busy season, and made it happen at her ASE Group

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Ditching the stress of year-end payroll 2024/25

Xero

Payroll year-end can be a busy time for businesses as they navigate deadlines, submission dates, and HMRC rules. Without enough planning, year-end has the potential to be highly stressful. Learn the essentials of payroll end-of-year submission, including common challenges and ways to tackle them. What is HMRC payroll year end? Payroll year-end sees a business wrap up the tax year for payroll purposes.

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From Data to Decisions: How CFO Support Services Enhance Strategic Financial Planning

Accounting Department

In today's rapidly evolving business landscape, the ability to turn raw data into actionable insights is paramount for sustainable growth and success. For many organizations, especially those without the resources to maintain a full-scale finance department, CFO support services offer a critical link between data and decision-making. These services transform complex financial information into strategic plans that drive business excellence.

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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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Don’t Be a Victim of Cyberattacks This Holiday Season

Ace Cloud Hosting

There is never a good time for cyberattacks to occur. However, any cyberattack on your business process during the holiday season could reap disastrous results. This is because, during the.

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IRS Announces New 1099-K Reporting Thresholds for 2024-2025

Insightful Accountant

In a significant development for tax practitioners and their small business clients, the IRS has established new transitional thresholds for Form 1099-K reporting through Notice 2024-85.

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Why Searching is Better than Sourcing for Many Organisations

Compleatable

First of all, we should explain the difference between searching for and sourcing suppliers and purchases. Simply put: sourcing is a lengthy bureaucratic process undertaken by large businesses to select a preferred supplier, ensuring they can trust the supplier and the quality of their goods or services. Searching, on the other hand, is a straightforward act of typing what youre looking for into a search box and finding pre-validated suppliers to choose frombetter suited to small and medium-size

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Art of Accounting: Barry Melancon's parting words about future of small firms

Accounting Today

Barry's presentation at the Accountants Club of America included his thoughts about the future of small practices, which make up about 43,000 of the estimated 44,000 accounting practices in America.

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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.