There are a lot of differing opinions about the economy right now because the indicators contradict each other. For example, inflation keeps reaching all-time highs, yet consumer spending is strong. Also, the GDP declined two consecutive quarters (but increased 0.6%…
Strategy
Ever wonder how strong your time-management skills are? Read these statements and grade yourself on a 1-5 scale, with a 1 meaning never and a 5 meaning all the time, and add them up once you’re finished. Prioritizing tasks. Throughout the…
A top priority for your Payroll and A/P teams at the start of 2023 will be processing 1099 forms and getting them into the hands of vendors by the January 31 deadline (the deadline's Feb. 15, 2023 for Form 1099-MISCs…
For many of your peers, the pandemic exposed areas of their financial systems that were out of date, especially when it came to month-end close. For example, research by Robert Half found almost seven out of 10 companies rely on…
Many of your peers are still struggling with employee retention as the Great Resignation batters the bottom line with recruiting costs, training costs and lost productivity. Back in September 2021, 4.4 million workers left their jobs, and a year later…
Securing an unpaid debt is challenging enough. The last thing any company wants to do is undermine its efforts by forgetting to cover all the necessary legal bases. A simple one to avoid? The so-called "mini-Miranda" warning required under the…
It may be wise to evaluate your 2023 T&E budget one more time because hotel prices worldwide are expected to go up again, according to American Express Global Business Travel. A combination of pent-up demand for in-person meetings and ongoing…
Your A/P staffers are experts at managing your organization's payments. However, their work also makes the company vulnerable to business email compromise attacks, which are getting harder to detect. In fact, there were nearly 20,000 reported incidents of business email…
One of 2022's biggest stories is the U.S. Securities and Exchange Commission (SEC) jumping into the environment, social and corporate governance (ESG) responsibility discussion. The SEC issued a proposed rule on the Federal Register focusing on the environmental aspect of…
We’ve all been there: inaccurate vendor payments disrupting cash flow and costing your company a bundle. And there are so many reasons why they happen. Maybe an A/P staffer got distracted and didn't record a payment at the time it…
One nice thing about fixed expenses is that they stay constant and usually don’t fluctuate. The bad news, they’re usually set in stone and can’t be cut if you’re looking to lower expenses. But according to Aaron Evett, director of…
When your peers were asked in August what they were planning to do with their 2023 annual salary increase budgets, not many said they were planning to freeze salaries. Salary increase budgets are likely to be larger than this year's…
