“Is Artificial Intelligence Set to Replace Accountants in the Future?” “Should Accountants Be Worried About Artificial Intelligence?” “Will Accountants Become Obsolete?” Accountants are not the only professionals whose job parameters will shift drastically with the introduction of artificial intelligence—a University of Oxford study estimates [...]
“Accounting” and “tax preparation” have become fairly synonymous since the government began leveraging income tax in 1913, but both the history and the profession of accountancy encompass much more than tax claims. The stereotype of white-collar workers who sit in their offices, frantically filing [...]
Accounting in the Past: A Profession Older than Writing It’s difficult to picture an accountant or bookkeeper at work without including some kind of technological innovation in the mental image—even a rudimentary one, like a calculator or adding machine. But the accountancy profession, in [...]
Before we jump into what QuickBooks merchant services is, let’s start with two basic questions: What is QuickBooks? QuickBooks is accounting software used mainly by small- and medium-sized businesses. QuickBooks users can record transactions, manage bills, track projects, create invoices, and more. As one [...]
As a business owner, you want to save time wherever possible. However, ineffective accounts receivable management can lead to wasted time, unpaid or misplaced invoices, and disrupted cash flow. Ultimately, when you neglect billing, you can stunt the growth of your business—which is the [...]
Customer invoicing and bill pay portals enhance the payment experience for your customers while saving you the trouble of collecting payments on outstanding invoices. You might consider looking for a customer invoicing and bill pay portal for Acumatica, which would eliminate the need to [...]
Accountants are changing the way they process payments. Outdated manual accounting tasks that delay your business from collecting payments and slow down your accounting workflow—such as manually reconciling invoices, entering transactions into multiple platforms, and updating accounting software—are being replaced by automated accounting software [...]
According to an International Data Corporation (IDC) report, global spending on blockchain solutions will reach $2.1 billion in 2018, over twice the amount spent in 2017. Big Four firms are already embracing and experimenting with blockchain, exploring how it can be applied to accounting. [...]
It’s clear that a revolution has begun. KPMG is working with IBM’s Watson, PwC uses AI-fueled sprints to rapidly develop working models for clients, and Deloitte has an in-house innovation team that focuses the majority of its time on AI. (Source.) As the biggest [...]
A well-organized and carefully structured accounting strategy can save you hours on bookkeeping. Effective financial management is critical to business growth, but even the best accountants make mistakes. Too many mistakes, however, could seriously damage business finances and become time-consuming and expensive to repair. [...]
