Easy to read ebooks, guides, checklists, and infographics to help you run your accounting firm or business.
Ebooks and WhitePapers
Client Data Security Best Practices to Protect Your Firm From Serious Threats
Cyberattacks can be time-consuming and expensive to deal with, and the odds are good that your accounting firm is already a target for one. Fortunately, there are steps you can take now to prevent major security issues from impacting your firm.
Crush Tax Season Without Getting Overwhelmed
It’s no secret that public accountants’ work is seasonal. Every year tax time rolls around and not only creates additional work but a heightened sense of urgency to pile on more stress. In this guide, we’re going to walk through the steps to building a firm that’s ready for tax season—using this crucial time as a growth opportunity.
Use Reliable Technology Partners to Be Lean and Mean
The disruptions brought by the COVID-19 pandemic were both internal and external. Some business sectors were affected more than others, but few escaped the far-reaching scope of the pandemic. Firms were faced with finding ways to help their clients at the same time they were adapting to their new business model. That's why now is the perfect time to rethink and retool your office into some sort of hybrid model. The future of work will be very different; that we know.
How to Drive New Revenue With Practical Automation
With AI and ML, you can focus your experience and judgment on the core needs of the business without wasting time on data manipulation. These technologies are driving new opportunities for revenue, enhancing profitability, and fueling the shift to advisory services. The only question that matters is: How will your firm adapt to the new world?
This ebook is your gateway to AI and ML for accountants. Get your copy today!
From Reactive to Proactive: Optimizing Your Accounting Firm Post-COVID
Accounting is an industry that’s not exactly known for being at the cutting edge of technology or innovation. That’s not to say that accountants themselves aren’t tech-savvy or innovative—those of us in the field can confirm that accountants are creative thinkers and clever problem solvers. But these are unprecedented times, and no one has a guidebook on how to navigate the challenge that is COVID-19 and the resulting economic impacts.
Payroll Passion Revived during a Pandemic
As accountants, we should explore anything that allows us to take a deep dive into
higher-level advisory work — that’s where our true value lies. Accounting software cleans up the mundane grunt work that bogs firms down in menial labor. It’s a needed technology. However, so is HR as a whole. This eBook will share the innovative perspectives and actions being taken by ADP, and the tools they have available for customers.
4 Times Accounting Mistakes Cost Big Companies Big Money
You’d think a degree in accounting and finance would be a requirement to help run a big company, especially as errors in financial spreadsheets can put millions of dollars at risk for these organizations. But if the four cautionary tales in this ebook are an example of how it’s normally done, it might seem that a degree isn’t required at all.
Bookkeeping Meets AI: Trends and Predictions for the Future of Accounting
By now you’re probably used to the integration of various forms of technology in the accounting industry, including machine learning, cloud computing, and different forms of automation. Small and large accounting firms alike have begun recognizing the importance of automation as they move forward with modern-day trends in bookkeeping.
4 Signs that Your Bookkeeper is Stealing from You
Theft, fraud, embezzlement, larceny, appropriation, swindling—have you been hearing a lot of these terms lately? Sadly, a quick glance at any major news outlet will show you that bookkeeper theft has been rampant this past year, resulting in dozens of cases of fraud. The idea of a bookkeeper stealing money from you is almost inconceivable for many business owners. However, do you know what to look for?
7 Experts Weigh In On the Future of Accounting
Every industry is impacted by the rise of technology and automation, and for many, that can be an overwhelming—possibly even scary—thought. Our friend Jody Padar, The Radical CPA, conducted a series of interviews with accounting industry thought leaders and influencers, and we pulled together this collection of highlights as they relate to select questions.
Overcoming the 5 Biggest Obstacles to Growing Your Accounting Firm
A helpful guide for accountants
With an ever-changing landscape, the accounting industry has seen drastic disruption over the past few years. Accounting is a profession with many nuances—working long hours, keeping up with evolving tax laws, managing complex client relationships, etc.—how does a firm manage to stay competitive when new obstacles seem to emerge every day?
The Accountant's Guide to Selecting an Automated Accounting Solution
A helpful guide for accounting professionals
It’s no longer a question of if you need technology to survive—it’s about which technology is the best fit for your accounting firm. Numerous factors weigh in on the decision to invest in technology. This selection guide was created to assist you through the process of knowing what to consider when it comes to accounting software built on artificial intelligence (AI) and machine learning (ML).
COVID-19 Survival Kit for Accountants
The COVID-19 crisis has created a unique challenge for business in America, from new loans and grants for small businesses to changing tax laws and deadlines. Along with the day-to-day news updates regarding shelter-in-place orders and local government enforcements, there’s a lot to keep track of. But as with any challenge, opportunity arises.
Artificial Intelligence for Accounting: An Introductory Guide
Here, we’re going to delve into the specifics of AI, its uses in accounting, and the impacts of incorporating it into your daily life. Read on for an approachable intro to AI, and if you’re an accounting firm, share this guide with your clients so they better understand why automation is so important for their businesses!
The Advanced Guide to Automation in the Accounting Industry
Like the transition from the abacus to the calculator, the accounting industry eagerly embraces changing technology—and the ability to make accountants' lives easier. Just as accountants embraced the convenience of spreadsheet technology, so a new generation of accountants is taking advantage of the latest advance in technology: automation.
Breaking Down Blockchain for Accountants in 2020—and Beyond
Blockchain technology, along with being a new buzzword, is also one of the most exciting technologies of the 21st century. A universally decentralized ledger system that can share data among an infinite number of users—a blockchain is unhackable. Due to its ability to share data and simultaneously record real-time transactions on every single computer connected to its network, the technology can’t be interfered with. If anyone tries to hack or scam a blockchain, the entire chain takes notice, and the chain will be forked where the hack happened, eliminating the culprit from the chain.
How Changing Compliance Software Will Impact Finance in the Future
There was a time when compliance was resigned to a few employees working through Microsoft Excel. However, modern regulations are now much stricter than before. Financial crime and non-compliance can be detected much more easily than before. Hence, the software has had to take over. Over time, the software has become more complex and automated several processes for efficiency. It’s safe to say the software will have a far-reaching impact on the financial sector.
What’s the Difference between AI and ML?
Artificial or augmented intelligence (AI) and machine learning (ML) have become hot topics in tech, business, and our everyday lives. In fact, a Google News search for the term “AI” returned 26.1 million results within the last 24 hours alone. But do we all know what we're talking about when it comes to AI and ML? Download the ebook to learn more!
Avoiding Virtual Pitfalls with Jody Padar and Justin Whitehead
There are a number of cyber risks popping up that can put your systems and data at risk. Bad actors are taking advantage of remote workers - here's what you need to look out for
Covid-19: Leading a Remote Team - An Interview with Gretchen Pisano
Botkeeper VP of Strategy Jody Padar and pLink Leadership CEO and cofounder Gretchen Pisano discussed what it takes to lead a remote team
The Art of the Leadership Pivot
Gretchen Pisano’s pointer for nailing the pivot and common missteps: Every new day is an opportunity to communicate and support your clients.
Leading while afraid
The world in the time of Corona is upside-down! In the next six to ten months, new legislation, new social and professional norms, and new practices in every sector will become solidified to create a new normal. Where does this position CPAs?
CARES Act Opportunities for Your Clients
Are you trying to ensure your clients take advantage of every opportunity the CARES Act presents them? Learn more with Nellie Akalp, founder and CEO of CorpNet to help your clients better navigate their options!
Dealing with emotional ramifications
What does virtual leadership mean in a coronavirus environment? Listen to the full recording of this video interview for more awesome insights to help you and your team right now!
3 Approaches to Bookkeeping Tips and Tricks to Help You Become a Pro
Poor accounting is a weakness for many small businesses. For owners, finding the time to do the job right isn’t easy. Thankfully, there’s another way.
5 Ways to Make Your Small Business Bookkeeping Efficient
With improved accuracy and speed, Botkeeper offers you the chance to leverage technology in a way that can greatly benefit your business.
The Cost of Bad Bookkeeping
The importance of making the right bookkeeping decision for your business should not be underestimated. Make sure your business will never fall victim to sloppy bookkeeping!
5 Steps to Streamline Your Bookkeeping OperationsInstead of falling farther and farther behind, check out our 5 steps to streamlining your bookkeeping operations!
7 Things All Business Owners Do Daily
If you're just getting into business for yourself, you might be wondering what to expect. Learn more in our video, "7 things All Business Owners do Daily"!
Four Signs that Your Bookkeeper is Stealing
Watching for these major red flags can help clear the way for you to take steps as needed Do you know what to look for? Here are 4 signs that can help you determine if your bookkeeper is stealing!
5 Bookkeeping Nightmares and How to Avoid Them
Bookkeeping is both time-consuming and expensive, but what if you used an automated bookkeeping service to get that time and money back
How COVID-19 has and will disrupt the Accounting Industry.
Join Botkeeper VP of Strategy Jody Padar and Tom Hood, CPA, CITP, CGMA talking about the disruptions the accounting industry has seen so far and what may continue to come our way.
The Impact on the Accounting Profession
In this trying times, how do all of these uncertainties for CPAs and Accountants impact future revenue, staffing, firm operations, and more? Join our VP of Strategy, Jody Pada get the scoop from Daniel Hood, editor-in-chief of Accounting Today, on the findings from their recent survey done in conjunction with ADP.
From Reactive To Proactive: Optimizing Your Accounting Firm Post-COVID.
The COVID-19 pandemic has completely changed the business landscape, and likely forever. Accounting professionals have seen the impact firsthand, in their own firms, as well as within their clients’ businesses. But as the “reactive” period starts giving way to the next phase, there is a big unanswered question for a lot of the firms out there - “what the heck happens next?!”
A Q & A Session with Jody Padar | The Bridge to the Cloud with Wolters Kluwer and Botkeeper.
How can you continue to differentiate your offering, and ensure your clients’ success? How do you adopt new technologies and new processes that can help us live in the “new normal”? Now is your chance to get the answers to these questions! Watch the live Q&A session with Jody Padar, VP of Strategy at Botkeeper, and The Radical CPA who has successfully achieved the "No-Touch Tax Return" to get those questions answered!
COVID19: Managing Talent in the New Normal.
Join Jody Padar, The Radical CPA and Botkeeper Vice President of Strategy with Jordan Birnbaum, Chief Behavioral Economist at ADP as they talk about how the pandemic has changed hiring, managing, and engaging staff, long-term and also to learn how we can have shared success moving forward.
COVID19: How Accountants Can help Clients.
Join Jody Padar, The Radical CPA and Vice President of Strategy interviews Erron Stark, DVP of Accounts Strategy at ADP about the PPP’s impact on both small businesses and the firms helping them navigate all the channels.
Accounting Graduate Landscape
Having the right talent for your Accounting firm is vital for growth and success! However, recruiting and retaining top talent are one of the challenges Accounting firms face thanks to major shifts in the supply of talent and the changing demographics of accounting graduates.
9 Steps to Prepare Your Accounting Firm to Handle Coronavirus
With the continued spread of a coronavirus known as COVID-19, more and more accounting firms and businesses are facing remote work for the next few weeks. While working remotely isn’t a new concept to many industries—tech engineering, medical transcription, digital marketing, etc.—it’s still fairly uncommon for accounting firms.
7 Tips for Leading a Remote Team During the COVID-19 Crisis
As your accounting firm makes adjustments and settles into a new normal—at least for the next few weeks while COVID-19 remains a serious threat—it can be hard for firm leaders and managers to maintain status quo. You’re used to face-to-face meetings, casual chats around the water cooler or coffee pot, and impromptu Q&A when complex client issues arise.
9 Challenges All Restaurant Owners Face—And What To Do About Them
According to the US Department of Labor, hospitality businesses have only a 55% five-year survival rate. That number drops pretty sharply through 10 years at only 38% survival rate. Eek! These numbers are less than inspiring. So we've pulled together a list of some of the most important accounting pain points for restaurant owners.
How does Botkeeper Differ from Traditional Outsourced Solutions?
Botkeeper is the only one of its kind, paving the way as the world’s first robotic bookkeeper by practicing the Botkeeping℠ method, which is the use of machine learning, AI, and robotic process automation to perform bookkeeping and accounting tasks automatically.
Accounting calculations can be a tad easier with the help of our free online accounting calculators
A collection of basic financial terms and acronyms
No matter what size your business, understanding the basics of accounting is incredibly useful. Accounting is simply the process of recording, analyzing, and interpreting a business’s financial information.
Unlike the cash accounting method, which records economic events only when cash is exchanged, accrual accounting entails revenue and expenses are recorded in the periods in which they are incurred.
Cash Basis Accounting
Cash Basis Accounting is the method where a business records revenue and expenses at the time they are actually received or paid, not in the period in which they were incurred.
Chart of Accounts
Think of a chart of accounts (COA) as a filing cabinet where all a company’s financial transactions are stored and a complete listing of all the accounts that are currently in use are kept.
One of the most important business accounting terms, COGS is the acronym for the cost of goods sold and represents the total cost required for a company to produce a product or deliver a service, including labor and materials.
Contractor vs Employee
Independent contractors are self-employed and provide specialized or requested services on an as-needed basis, while employees work for employers and often have little control over their work and performance.
CFO, Controller, and CPA
Quick definitions: A CPA is a Certified Public Accountant. A Controller is responsible for all accounting-related activities within an organization. A CFO is the Chief Financial Officer, responsible for all financial actions of a company.
Credits and Debits
All business transactions have a monetary impact on the financial statements and the bottom line of an organization. When accounting for these transactions, a company records the numbers in two accounts, a debit column on the left and a credit column on the right. The use of a 2-column transaction recording format is the most essential of all controls over accounting accuracy.
Also known as prepaid revenue or unearned revenue, deferred revenue is the money received by a business in advance of having earned it. It calculates an asset’s depreciation expenses based on the date of purchase, initial cost, useful life (how long a company intends to use it), and tracks beginning and ending accumulated depreciation, or the value of the assets when it is replaced.
A financial review is performed to ensure no material changes are needed to bring a company’s financial statements into compliance within an applicable financial reporting framework such as GAAP.
GAAP stands for “generally accepted accounting principles” and is used by businesses to: Properly organize their financial information into accounting records, summarize the accounting records into financial statements, and to disclose certain supporting information.
How to Calculate Income
Calculating income is essentially deducting costs and expenses from profits. It starts by calculating the total amount of sales made during accounting and is followed by deductions for certain costs or other operating expenses. When all is said and done, the company learns how much it earned or lost during the accounting period.
Modified Adjusted Gross Income
Modified adjusted gross income (MAGI), determines an individual’s eligibility for important tax benefits, including whether they can contribute to an IRA or deduct contributions to an individual retirement account. Eligibility for certain income tax credits and education tax benefits are also based on MAGI, as is the eligibility for subsidized health insurance through the marketplaces under the Affordable Care Act, and for income-based Medicaid.
All companies must generate revenue to stay in business. It is used to pay expenses, taxes to local, state, and federal governments, and interest payments on debt. Once the costs of doing business are paid, what's left over is called net income which is, in theory, available to shareholders. Often the decision is made to retain earnings for growth and future investments in the business instead.
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