We live in a world of self-driving cars, where access to mobile banking is ubiquitous and space tourism is on the horizon. Yet, accounting processes are shockingly old-fashioned. According to recent research by Gartner, 50 percent of B2B invoices will be processed and paid without manual intervention by 2025. As a result, large
Thomson Reuters has launched the Indirect Tax (IDT) Determination Anywhere platform, a new patent-pending, cloud-based tax technology platform that sits on top of existing infrastructure – private and public cloud or on-premises solutions –enabling accurate and secure tax calculations. Determination Anywhere’s proximity to transaction systems offers tax professionals the power
Many clients go on cruise control after Thanksgiving. As the holidays approach, their minds are elsewhere, and they put off making financial decisions. They may say, “Call me in the New Year.” As an accounting professional, you know that December 31 is one of several hard-stop deadlines in your business.
Starting and running a business means making countless decisions. One that is often overlooked is choosing a registered agent. One of the many important duties a registered agent performs is notifying company management when a lawsuit is filed against the company. With small businesses incurring over $180 billion in civil
CPAs and accounting professionals in general should be aware of auditing best practices during the pandemic to avoid common pitfalls such as a lack of communication, the inability to audit in person and changes to the tax code. Increased Uncertainty The pandemic has increased financial uncertainty worldwide. Thus, CPAs and
It’s no surprise that clients expect their accountants to advise them how to take full advantage of often-overlooked strategies to lower their taxes this year and provide head starts for future years. Ditto for advice on how to steer clear of pitfalls. A proven way for accountants to display expertise
If “data is the new oil,” is cloud accounting software the pipeline to access this untapped resource? Should accounting professionals be concerned about the ability to tap into (and mine) data that was previously siloed on individual desktops and servers of SMBs? Are we ethically obligated to alert clients to
Bill.com is rolling out a series of new product features that expand Bill.com’s ability to be the all-in-one financial operations platform for small and midsize businesses and accountants. New features that increase visibility and control include: Custom Dimensions for Sage Intacct: Going live in early 2022, custom fields can be
Launching a new service, such as advisory, for your accounting firm can be scary, but if you’re seeking out new customers, it could be one of your best options. Reconciled’s Michael Ly explains. Phase One: Explore You’ll begin by figuring out where your firm can get involved in something new.
“Do you owe money to credit card companies?” You’ve likely seen the advertisements on TV promising to reduce what you owe to the credit card company. Some of these ads even suggest there’s a new government program to bail people out. However, there isn’t. If a client with debt asks for