Resources Library
Easy to read ebooks, guides, checklists, and infographics to help you run your accounting firm or business.
-
Ebooks and Guides
-
Calculators
-
Accounting Glossary
- Accounting 101
- Accounting Software
- Accounts Payable
- Accounts Receivable
- Accrual Accounting
- Adjusted Trial Balance
- Amortization
- Bad Debt Expense
- Balance Sheet
- Bank Reconciliation
- Benefits
- Book Value
- Capital Asset
- Cash Basis Accounting
- Cash Flow
- Cash Flow Statement
- Chart of Accounts
- Class Tracking
- COGS
- Comprehensive Income
- Contractor vs Employee
- CPA, Controller, CFO
- Credit and Debits
- Current Ratio
- Deferred Revenue
- Depreciation schedule
- Earnings Before Interest and Taxes (EBIT)
- Financial Reviews
- GAAP
- How to Calculate Income
- Modified Adjusted Gross Income
- P&L Statement
Reports
Checklists
Selling Advisory Services
Get ready to use your tax filing season discussions to build stronger and more lucrative client relationships. This checklist offers 10 questions you can ask naturally in the course of conversations revolving around taxes, to help determine if the client is ready for client accounting and advisory services from your firm.
Ebooks and WhitePapers
You can find concise, convenient content on bookkeeping, tax prep, general business tips and tricks, as well as in-depth reports and education on more specific subjects, particular methodologies, and advanced problem-solving guides here! Access now and share them with your clients.
Client Advisory Services (CAS)
For those firms changing with the times, moving to Client Advisory Services, or CAS, plays an enormous part in becoming what visionaries in the profession have termed the “firm of the future.” In this detailed overview, learn the basics of CAS: what it is, why you need to offer it, and how to go about it.
Bookkeeping Software/
Accounting Software
The complexity of accounting tasks makes it a natural fit for software and automation. Once upon a time, accounting software and automation were a strategic advantage. Today, they're quickly becoming a necessity. Learn more about how automation and accounting software make the modern firm... well, modern.
Accounting Firm Mergers and Acquisitions
Merger and acquisition activity among firms has always been an important part of the accounting landscape. In recent years, it’s heated up even more. Whether your firm is acquiring, looking to be acquired, or merging with another firm, there’s a lot to know before you get started. Find it here!
The Accountant's Guide to Selecting an Automated Accounting Solution
A HELPFUL GUIDE FOR Accountants
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).
Breaking Down Blockchain for Accountants
Blockchain technology, along with being a buzzword, is also one of the most exciting technologies of the 21st century. Blockchain is a universally decentralized ledger system that can share data among an infinite number of users and is essentially unhackable. The implications for accounting are enormous. Learn what you need to know by accessing the eBook today!
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? Access this live eBook to learn more!
Outsourced Bookkeeping: Nearly everything you need to know
Outsourcing has opened the doors to a world of new options. These days, outsourced services are the ideal way for a businesses to handle non-essential administrative tasks, with a special shout-out to one of the most important: Accounting and bookkeeping. You want to know more about outsourced bookkeeping? You'll find what you need here.
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!
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.
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.
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?
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.
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. Access your copy today!
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.
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
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!
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 Operations
Instead 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!
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.
Infographics
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.
CALCULATORS
Accounting calculations can be a tad easier with the help of our free online accounting calculators
Accounting Glossary
A collection of basic financial terms and acronyms
Accounting 101
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.
Accounting Software
Accounting software is a type of computer software used by business owners and accounting specialists to perform bookkeeping and accounting operations.
Accounts Payable
An accounts payable (AP) entry indicates a company's obligation to pay off debts to its suppliers or creditors within a given period in order to avoid default.
Accounts Receivable
The accounting term “accounts receivable” specifies “accounts” a business is entitled to receive because it delivered a service or goods.
Accrual Accounting
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.
Adjusted Trial Balance
The adjusted trial balance is similar but distinct from the trial balance. An adjusted trial balance is essentially a master list that showcases the balances of all accounts, following the posting of adjusting entries at the end of an accounting period.
Amortization
Amortization is a comprehensive financial concept with dual implications. In the context of loan management, amortization refers to the systematic process of repaying a loan through regular, scheduled payments over a predetermined period.
Bad Debt Expense
The concept of bad debt expense represents a significant aspect of financial accounting, acknowledging the reality that not all accounts receivable will convert into cash due to customer defaults.
Balance Sheet
A balance sheet is a financial statement that provides a snapshot of what a business owns and owes, as well as the amount invested by shareholders.
Bank Reconciliation
Bank reconciliation is a critical financial control process aimed at comparing a company's internal financial records against bank statements to ensure congruence.
Benefits
Benefits play a major role in the workplace, representing anything given to an employee beyond their wage or salary.
Book Value
Book value offers a concise measure of the net worth of an asset, as recorded in a company's financial statements, specifically on the balance sheet.
Capital Asset
Capital assets embody the significant resources a business procures and employs over the long run, representing substantive investments within the company's operational framework.
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.
Cash Flow
Cash flow captures the actual financial movement within a company, playing a pivotal role in highlighting a business's ability to generate cash and meet its operating, investing, and financing obligations.
Cash Flow Statement
A cash flow statement is just what it sounds like: an indication of the cash generated or used by a company in a given period.
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.
Class Tracking
Businesses that want to get a more detailed view of their finances can use class tracking to determine which areas of the business are doing well and which need improvement.
COGS
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.
Comprehensive Income
Comprehensive income extensively chronicles a company's change in equity during a financial period that is not derived from transactions with shareholders (such as dividends or share buybacks).
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.
CPA, Controller, CFO
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.
Current Ratio
The current ratio is an analytical metric that offers insight into a company's capacity to satisfy its short-term obligations within a year or operating cycle, using assets expected to be liquidated in the same period.
Deferred Revenue
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.
Depreciation Schedule
A depreciation schedule or chart helps businesses keep track of long-term assets and gives a look at how they’ll depreciate over time.
Earnings Before Interest and Taxes (EBIT)
Earnings Before Interest and Taxes (EBIT) is a financial measure that assesses a firm's operational profitability by focusing solely on the business's core income-generation capabilities.
Financial Reviews
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
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.
P&L Statement
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.
Subscribe to Our Newsletter
Want to learn more about saving time and money? Subscribe to our blog today for regular tips and tricks for bookkeeping, accounting, and best business practices!