Elise Perez
Business Advisor at Cogneesol, an outsourcing firm helping businesses to achieve goals
How Outsourced Accounting Yields Greater Client Satisfaction? Things Tax Professionals Actually Do to Recharge after Busy Tax Season. All businesses are required to file taxes for which they either hire tax preparation companies or have an in-house team of tax professionals.
Others outsource tax preparation services temporarily, for instance, quarterly, half-yearly, or annually. All in all, a majority of tax professionals remain busy during the hectic and stressful tax season. Auditors usually exceed working hours to more than 70 hours a week for months. 30 % of CPAs work 70-hour weeks while 90% of them work 50-hour weeks during the busy season. The continual workload and overtime spent often leads to work/life imbalance that can increase stress. According to AICPA, almost 98% of CPAs report stress of some level, about 47% are usually stressed, and 11% indicate them being at a ‘crisis point.’ How Has Technology Changed the Accounting Sector? Tips for Solo Attorneys to Make the Tax Season Less Stressful. Are You Tired of Using Excel to Manage Your Business Accounting? Here's a Solution.
Cogneesol - Business Process Outsourcing Company: 15 Important Drake Tax Software Features You Must Know! Drake tax software provides a complete tax solution to businesses as well as individuals.
In the 2020 global tax software market forecast, Drake software is considered to be one of the key players in the industry- Comtex. Do You Seek Professional Help to Manage Your NetSuite Accounting Software? Cogneesol - Business Process Outsourcing Company: Ways to Keep Accounting Operations Up and Running during a Pandemic. Tips That Help Ease the Rush of Next Busy Tax Season.
Regardless of your experience as an accountant, you might never say tax season is an easy time.
It is always challenging to pack the entire year’s work in bulk within a few months, which is not normal at all. It requires tax accountants to work longer days, give up on sleep, and piles of paperwork often take a toll on even the smartest, experienced, and skilled accountants. Similarly, running a CPA firm becomes difficult, especially when the tax season rush begins to create panic among business owners and their accountants. Facing Challenges to Migrate Your Accounting Data to QuickBooks Software? Here’s a Solution. The CPA Guide: Do Entrepreneurs Need to Know Accounting? Are you Facing Challenges to Add High-Value Services in Your CPA Firm due to Overburden?
Alika Cooper's answer to What's the best cloud accounting solution for small business? Flavia Moreas's answer to Should we use Intacct or Netsuite as our accounting system if we are going to go public? Are You Concerned About Tax Return Preparation in this COVID-19 Pandemic? Flavia Moreas's answer to What is the leading tax consultant for outsourcing my company accounts? Xero Accounting Software: Smarter and Stronger Key to Business Continuity Planning.
When Should I Hire A Tax Preparer Or Accountant? QuickBooks Online Advanced: 7 Apps to Better Manage your Nonprofit wi… Tips for Effective Cloud Accounting Software Management. How can CPAs Overcome Busy Tax Season Challenges – Experts’ Opinion! Tax season is challenging for CPAs as it brings a lot of work pressure.
To achieve profitable growth and ensure optimum client satisfaction, they have to work hard during this season. However, troublesome clients and enormous workload make it hard for the CPAs, providing accounting and tax services, to tackle this season and also maintain an efficient work-life balance. Through this article, we have sought relevant expert opinions on how to deal with the challenges of a busy tax season. 1. Maintain a proper work schedule Chayim Kessler, Certified Public Accountant from Miami Beach CPA LLC Acknowledge that your clients (old, new and those still coming!) Develop a plan that can help you prioritize your deliverable one-by-one and provide that needed focus per client. Adriene Raynott's answer to Why should a business switch from Quickbooks to NetSuite ERP? Cogneesol - Business Process Outsourcing Company: Xero Accounting Software: Help to Transform Your Retail Business. Retail is demanding, and Xero helps to make better business decisions.
With Xero, it’s easy for retail businesses to keep ahead in the market. It helps: ● To save hours on admin tasks, automatic bank reconciliation helps to minimize manual data entry tasks. ● It sets budgets, track results, and provide full business performance reports. ● With an online payroll option, it makes it easy to pay your retail store staff. ● Retail third-party apps like inventory, eCommerce, point of sale, etc. can easily be integrated with Xero. Require a QB Expert to Clear Your Bookkeeping Mess? Cogneesol - Business Process Outsourcing Company: Xero Accounting Software: Help to Transform Your Retail Business. Adriene Raynott's answer to What are the best online bookkeeping services in QuickBooks US? Filing Taxes? Watch Out for these Common Mistakes! The biggest testing time for businesses around the world is the time when they start preparing and filing taxes.
With so many regulations to keep in mind while filing taxes, it gets extremely difficult for business owners to make zero tax accounting mistakes while managing operations simultaneously. Any tax return mistake can prove to be costly for firms as they may face an Internal Revenue Service (IRS) audit, additional taxes/penalties, miss out on a bigger claim refund, and more. So, let us explore the same and learn about the common tax filing mistakes that are committed by taxpayers.
Useful Stats/Facts 1. Missing out on the tax filing deadline is one of the biggest and most common mistakes made by taxpayers during tax filing. Feeling Overwhelmed with the Excessive Accounting Workload of Your CPA Firm? Flavia Moreas's answer to Why should a business switch from Quickbooks to NetSuite ERP? Migrating QuickBooks to Netsuite: 5 Indicators your Financial System needs to be Upgraded! Cogneesol - Business Process Outsourcing Company: Stressed for Tax Return Preparation? 7 Ways to Keep Tax Season Stress Under-Control.
Tax season is one of the most challenging seasons a financial expert will encounter while working on tax returns for clients.
To relieve the stress and be motivated, I have made a list of things I usually do; these might be helpful for you as well. 7 Ways to Keep Tax Return Preparation Stress Under-Control: 1. Take a mental break: Adriene Raynott's answer to What alternatives are there to Xero? Are you having a Hard Time making your Accounting Firm Grow? How can E-commerce Businesses handle Rising Customer Demand amid COVID-19? Novel Coronavirus (COVID-19) has affected various sectors and industries severely.
According to experts, its initial impact on e-commerce has created challenges for businesses in the industry to deliver online services that no one could have predicted before. If you’re in e-commerce, there’s a good chance for customer demand to increase during this time of COVID-19 significantly. People are mostly stuck at home, and they would likely be making purchases online. Besides, we all know how popular online shopping has gotten; with mobile services like shopping apps and mobile banking (also the integration of both), almost 72% of customers are using mobile phones for shopping and payments. Order management, fulfillment systems, and supply chains are all being tested by huge online orders and revenue growth nowadays. Save Yourself Against Wrong Tax Filing Penalty. QuickBooks Online Advanced: 7 Apps to Better Manage your Nonprofit wi… Are You Concerned About Tax Return Preparation in this COVID-19 Pandemic?
Looking for QuickBooks Experts in Managing Your Firm’s Accounting Tasks? The Future of The Accounting Profession — CareerMetis.com. The accounting industry is one of the competitive industries in the world.
This is because the accounting profession demands the utmost accuracy. With a huge workload in place, achieving 100% accuracy becomes even more challenging for CPA firms. This is the reason new trends keep emerging with the passing of every year to streamline the accounting processes. Adriene Raynott's answer to What's the best app to customize invoices from QuickBooks online? QuickBooks support service? 1800–4242–578. New QuickBooks Payroll Features 2020: The Way to Experience a Better Business. QuickBooks Payroll software helps businesses in calculating payroll quickly, paying their employees timely, along with preparing and filing the taxes.
COGNEESOL QuickBooks Payroll: Top Features Depending upon your chosen plan, you will be able to use some or all of the following features: Pay employees & contractors using direct deposit, paper check Automatic tax updates as per latest state & federal tax rates Accessibility & automatic calculation, filing, & paying of tax forms Accessible online & through the mobile app Automatic paycheck & Payroll Taxes calculation Manage health & other employee benefits Choose payroll schedule as per individual employee With 24-hour direct deposit, submit payroll until 5 p.m.
(a day before payday) Set up info of employees online & run payroll multiple times Free QuickBooks Workforce access to employees for viewing prior/current pay stubs COGNEESOL QuickBooks Payroll: The Pricing Core Premium Elite 3 plans come under this: 1. 2. 3. Show Text Include... New QuickBooks Payroll Features 2020 The Way to Experience a Better Business. 9 Must-do Things for Small Businesses amidst COVID 19 Pandemic. Is winding up your accounting tasks timely during COVID-19 pandemic challenging for you? What Big Data Might Bring in 2020: Experts Predictions!
With more and more digital platforms, humans are generating a substantial amount of information every minute. In fact, the total amount of data in the world is likely to reach 44 zettabytes this year. Many companies are now utilizing this abundance of data along with AI algorithms and analytics to understand trends in customer demands and find growth opportunities. Big Data is the new face of this enormous amount of data that is helping businesses in multiple ways.
It is said that Big Data 2020 will soon transform the world, primarily the business world. 1. 2020: Smart Supply Chain Will Remain in Trend Luka Arezina Editor In Chief at DataProt I think we will continue to see the rise of smart supply chains that leverage the Internet of Things and big data management to reduce costs by improving their operational efficiency. Unauthorized access to data on these systems could wreak havoc on the supply chain, which could lead to thousands of dollars in losses. Has the Emergency Due to COVID-19 Overburdened Your CPA Firm with Accounting Tasks? Restaurant Taxes: 8 Essential Tax Tips and Deductions for Restaurants. Having Questions about Cloud Accounting Solutions? Get The Answers Here. Being an accountant/bookkeeper or owner of an accounting firm, you might already be aware of various technologies or software most accountants are using today to increase work efficiency, serve their clients better, and retain them for long.
But if you are yet to know what cloud technology has for accountancy, you have reached the right place. Yes, here you will get answers to all the questions you have always had about cloud accounting software. Moreover, if you are planning to start offering cloud accounting services, your clients will have a list of queries and questions about the benefits of ‘cloud accounting,’ so better be prepared. With the help of this post, get answers to FAQs about cloud & its benefits for accounting purposes. But before we go any further, here are some statistics about cloud accounting that you should be aware of. Do You Need Bookkeeping and Tax Preparation Services? Restaurant Taxes: 8 Essential Tax Tips & Deductions for Restaurants. Top 10 Tax Software with Comparisons to let You Choose the Best One! Getting through the IRS during the tax season with a clean chit is hard for businesses to achieve owing to various complexities attached to the tax laws.
In order to keep compliance with the same, it is imperative for businesses to prepare and file their taxes correctly and timely. For the correct preparation, a manual approach is not as successful as using business tax return preparation software or using tax return outsourcing services. Now, you might be wondering, with so many tax software available out there in the market, which one you should consider for your business. To help you make the best decision, we have compiled a list of top 10 software with their comparisons, explaining to you the features of every software in detail. 1. Drake: A Complete Professional Tax Preparation Software.
Dealing with taxes is a complex task, and the tax season brings an immense burden on businesses and working professionals to efficiently manage the same. But, utilizing the right tax preparation software can turn this seemingly worst chore of the year to a bit manageable task. There are many tax software available in the market, but Drake Software has proved to be one of the most trending and widely-utilized tax software because of its comprehensive product excellence.
Nationwide, more than 59,000 tax professionals use Drake, and each year, it processes more than 33 million federal and state accepted returns. Drake Tax is a robust, reliable, and user-friendly software application for tax preparers and professionals who appeal to customers in small and medium markets. It outruns various other tax software because of its customizable reporting, which provides in-depth details regarding different areas of business operations. QuickBooks Accounting – Troubles faced by Businesses and Ways to Fix Them. Top Excuses Taxpayers Made for Missing U.K Tax Deadline. With one self-assessment tax deadline gone (31 January) and the second one approaching (31 July), let’s take a look at some of the perfectly lame excuses and claims received by HMRC from taxpayers who missed the date over the past decade. 10. Caravan rental for the Easter weekend 9. Chart of Accounts in Xero - 5 Things You Should Know.
A chart of accounts (COA) is one of the essential tools for financial organization, providing a complete and section-wise organized listing of all accounts in an accounting system. Balance Sheet accounts and Profit & Loss accounts are the two sections in a COA. Each section presents the names and unique numbers that help organizations to identify and record all financial transactions to proceed further in accounting. 8 Innovative Ways to Amalgamate Artificial Intelligence with E-commerce! Artificial intelligence (AI), as well as the E-commerce industry has been booming since the past few years.
The combination of these two, that is, using AI in the e-commerce industry makes a powerful impact on the overall online shopping experience. AI is all set to go for a turbo drive in the coming years as big names, such as Google and Microsoft, are heavily investing in the same. 85% of the customer interaction will be handled without any human resources by 2020, says a current study by Business Insider. As we see AI almost everywhere today, many e-commerce businesses have already embedded AI in processes like eCommerce data entry, enhancing customer experience, and customer engagement. Let us discuss why they are doing the same?
1. It is observed that customers usually abandon e-commerce platforms because the product search results presented are often irrelevant.
The Projected Condition of Healthcare E-commerce in 2020 PowerPoint Presentation - ID:9046413. THE PROJECTED CONDITION OF HEALTHCARE ECOMMERCE IN 2020INTRODUCTION There has been significant growth in the eCommerce industry, and it has affected all industries, including the healthcare sector. In fact, as per Goldman Sachs, industry is prepared to spend around $32 billion on e-commerce and web services technology Considering the growing desire for convenience and there is a vast healthcare companies breaking into the eCommerce business. the healthcare annually. industry opportunity growth, forReports spending on medical equipment such as hearing eyeglasses has reached $48.5 billion, which is up by 4% compared to the previous year.
Hence, we can eCommerce has found its roots in the healthcare industry, and the same is growing as the industry progresses forward. say that consumer aids and see thatThe US healthcare market is a $3.2 trillion system that consists of many different segments like insurance companies, hospitals and health systems, pharmacies, and more. E-commerce Retail Business - Top 7 Tips for Better Inventory Management. Top 10 Data Entry Practices for Successful Business.
Bad Data Entry - Threat to Your Business Profits. How to Overcome 8 Biggest Data Processing Challenges? Join the social network of Tech Nerds, increase skill rank, get work, manage projects... Nerd Digest 10.8kIMPORTANCE OF INTRAPRENEUR IN. Top 8 Tips to Overcome the Data Processing Challenges. Automating Data Management Processes Through Machine Learning. Guidelines to Monitor Data Quality Management with the Right Metrics!
No matter in which industry you are operating, what products you are selling, once in a business lifecycle, you will come across the anecdote “importance of data”. It is indeed playing a crucial role to empower the decisions of entrepreneurs based on trends, facts, and statistical numbers. But managing immense data as well as data quality is where most of the businesses fall apart and the reasons are uncountable- be it lack of resources, lack of time, etc. That’s the reason, in this article, we are sharing some guidelines that will help you in monitoring data quality with appropriate metrics for your business along with effective data management solutions. As the name suggests, it is a set of practices that help businesses to maintain data quality and achieve better results.