How many times has your Finance team seen the word “processing” on their laptop screens this week? Instant payments, both via The Clearing House’s RTP (Real-Time Payment) Network and the Federal Reserve’s 24/7/365 FedNow Service, are poised to change that. Imagine that a key piece of your business’s equipment has broken down. You need to […]
The Biden administration is planning to add another reporting requirement for publicly traded companies. This time it’s taxes paid to jurisdictions a company does business in. The beneficiaries of the new rule are investors who want as much info about a company’s assets and liabilities before risking their money. The Financial Accounting Standards Board (FASB) […]
Seven months after its release, ChatGPT is being touted as a replacement for a range of occupations. Artificial Intelligence (AI) tools like ChatGPT (technically a Beta rollout) are being tested against humans in areas like accounting and early results are rolling in. The early verdict? Stick with human accountants for the time being! ChatGPT not […]
COVID-19 sick/family leave and employee retention (ERC) tax credits may be in the rearview mirror, but thanks to IRS Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund Form, it’s not too late to claim them. Before dismissing the idea that there might still be money left on the table from Q3 […]
Those of us who can remember the Internet becoming a fixture in the workplace also remember a lot of so-called experts making dumb predictions. Such as “it’s just a fad” and “people will always want the printed page” to “the robots are going to take over!” Fast forward to today and the rise of Artificial […]
If your finance team is pasting enterprise resource planning (ERP) data into Excel and then manually crunching figures for your firm’s financial reporting, it may be time to consider a software solution. If you haven’t recently audited how much time it takes your team to create a financial report, this may be the right moment […]
The Securities and Exchange Commission (SEC) just fined a company $35 million because it didn’t maintain adequate disclosure rules for tracking workplace complaints and violated whistleblower protections for departing employees. The only problem? The SEC admits not a single employee of the company came to the SEC to complain about its practices. And there’s no […]
Despite how important monthly financial close is, many companies still struggle to close their books within one workweek, according to a survey by the American Productivity & Quality Center (APQC). APQC data found that the median number of days an organization needs to complete monthly financial close is six. Some take as many as 10, […]
You can now file Form 1099 series information returns using the Information Returns Intake System (IRIS) online portal. Step one is enrolling with IRS by clicking here. IRS is touting the free electronic filing service, which doesn’t require any special software, as secure, accurate and particularly helpful for small businesses that typically file paper 1099s. […]
