Fully integrated, automated payments! A dream goal for many CFOs and controllers. Imagine how much more mission-critical work finance staffers could dig into? Here’s a reality check: If you’re still in the process of transitioning from manual to automated processes, you’re far from alone. Just 5% of mid-sized companies (annual profits between $3 to $15 […]
Ever wondered why Excel features a currency format as well as an accounting format? You’re not alone. The reason is, creating Excel spreadsheets that contain currency like an income statement or a balance sheet can be difficult to organize. The numbers, decimal places and dollar signs don’t always line up, which leads to a very […]
Ever-growing postage rates are driving companies to digitize as much as possible. A record-high rate hike set for July 14 is going to impact companies that rely on the mail to do business. The U.S. Postal Service (USPS) announced it will be raising the cost of a first-class postage stamp from 68 cents to 73 […]
Let’s be real: The enthusiasm behind real-time (or instant) payments stems almost entirely from the seller’s side of B2B. After all, whether we’re talking about a mom-and-pop vendor or a multinational corporation, who doesn’t prefer getting paid sooner rather than later? And in the business-to-consumer realm, the majority of consumers like real-time too. The selling […]
Financial professionals who can read a chart are rightly worried about the long-term economic health of the U.S. To quote the late, great economist Herbert Stein, “If something cannot go on forever, it will stop.” Try telling that to the banks buying treasuries at a feverish rate this spring. The $34 trillion and exponentially growing […]
After the flood of new e-commerce sales tax rules in the five years since the South Dakota v. Wayfair Supreme Court decision, this may be the year when more economic nexus laws finally start getting simpler. The Streamlined Sales and Use Tax Governing Board, an organization comprised of state and local government officials and business […]
Crooks have more tactics for committing payment fraud at their disposal than you think. For example, these are just the different types of phishing attacks being used to exploit busy A/P staffers and steal money and sensitive data from companies: And as we reported, AI is being diabolically deployed to make payment fraud attempts even […]
Whether they’re triggered by criminal fraud, duplicate charges, a technical glitch or a dissatisfied customer, credit card chargebacks can become a nagging pain point for A/P and a disruptor to the efficiency and profitability of your business. In fact, Mastercard predicted that businesses would collectively lose more than $1 billion on them in 2023 alone. […]
The big January 31 filing deadline for Form 1099-NEC is almost here! Organizations must not only put Form 1099-NEC into the hands of payees by that date, the IRS needs its copies of the returns by Jan. 31 as well. Fortunately, you have a little more time with Form 1099-MISC. The deadline is February 28, […]
