On October 29th, 2020, Flexi Software will be hosting its 30th Anniversary User Conference for its customers. Unlike previous conferences, this edition will be completely virtual but will be no less impactful. For Flexi and its customers this is a mutually beneficial opportunity to meld power users and product experts together in one place (virtually…
In 1982, singer Steve Miller had a chart-topping song called Abracadabra. The last time Form 1099-NEC saw the light of day? It was as well, 1982. Can you guess which one of these two things is making a comeback? Luckily, it’s not the song, it was pretty bad. However, for Form 1099-NEC it is making…
When it comes to companies affected by the Pandemic no one was excluded. Including credit unions. We learned a lot during those times, best practices were redefined, and we continue to incorporate those lessons in ways that make our businesses stronger and more resilient. When talking about accounting software, credit unions have core systems that…
Companies across numerous industries – healthcare, banking, investment, and others – rely heavily on their financial management software to streamline their operations. With so many options from which to choose, it can be difficult to know which software is right for your company. Below, you can learn more about the five most important features of…
CFOs continue to play important roles within their companies as they provide insight and make decisions that can completely alter the future of their companies. In 2012, the Association of Chartered Certified Accountants put out a report that included predictions about how the roles of CFOs would change in the coming years, and thanks to…
If your company relies on an invoicing and billing system to generate revenue, it may be worth your time to analyze the systems and processes you’re using to find out if they are truly the best options for you. Below are some surefire signs that the system you are using may not be living up…
Automation continues to gain speed in the accounting industry. Automation simplifies menial tasks and reduces the risk of manual error, making it a huge boon for accountants as far as accuracy and data integrity. While tech greatly improves much of an accountant’s job, with this shift comes fear and uncertainty about job security. Embracing changing…
Today’s world is one built on instant gratification, and companies across all industries continue to work hard to provide fast, efficient services to their customers. Believe it or not, your company’s financial close time can have a significant impact on numerous parts of your business, including your relationships with your clients and customers. Below, you…
Data analytics, machine learning, artificial intelligence, blockchain, robotic process automation–these are just some of the tech trends that will continue to perforate the accounting sphere in 2020, according to a recent report by the Institute of Management Accountants (IMA). The report highlights that finance and accounting professionals are increasingly implementing big data, and will continue…
Adapting to new accounting rules and regulatory changes have caused annual audit fees to continue to rise for U.S. companies. According to a survey by the Financial Education & Research Foundation, the average hourly fees public companies pay for external auditing services has climbed 31 percent over the past decade. Businesses tend to retain external…
You may consider outsourcing your accounting in order to bring in additional expertise you don’t have access to internally, or to save money. Business owners and nonprofit organizations are especially good candidates for outsourced accounting. Outsourcing your small business accounting As a business owner, you know you’re edging closer to success when you no longer…
Accountants have been relying on Microsoft Excel since the 1980s, so you could say innovation in accounting is slow going. It turns out, there are several barriers to innovation that are specific to the accounting and financial services industry. What are they, and what can we do to squash them? Jody Padar writes on AccountingToday…