accounting Archives | FMT
[Video] NetSuite Year-End Close
Closing out the year can be a challenging exercise that even the most seasoned accountants face with some apprehension. Watch this NetSuite year-end close training session to run through a winning approach for the big event! Hopefully this video helped you learn a few tricks to help you during your year-end processes. If you have any additional questions, or need further assistance with your NetSuite solution, please feel free to let us know by filling out the contact form below. Looking for more resources? Download our NetSuite Year-End Close Manual Get 30 pages of step-by-step instructions and screenshots on how to close the books in NetSuite.
Tips to avoid year-end expense management disaster
Regardless of the size of your business we all know closing the fiscal year is a challenging expense management task. Every department, from finance to accounting, is pushing hard to wrap up reports and prepare for the holidays. But here’s the deal: streamlining your expense management, creating a best practice process and using automation to increase visibility you can give your finance team the data they need to succeed. In this blog post, we show you how to accomplish that. How to create a best practice expense management process? When asked, most business would say their expense process is solid. But if you dig into it you can find a lot of struggles such as: • having a hard time accounting for employee’s expenses • swimming into a pool of receipts • unresolved discussions between the accountant and the receipt submitting employee for more information • undocumented expenses that […]
The State of State Sales Tax in 2016
Repost from Avalara The year 2016 has been unpredictable so far. That’s true for politics and it’s true for sales tax. With numerous states desperate for more revenue, sales tax is being broadened, rates are increasing, and exemptions temporarily suspended. Never easy, sales tax compliance is now exceptionally challenging, particularly for businesses selling in multiple states. From coast to coast, state legislators are deliberating difficult issues. What more can be done to collect on untaxed remote sales? Should they increase the state rate? Should sales tax be expanded to traditionally excepted services? Should they eliminate exemptions to generate more revenue, or expand them to stimulate business growth? Each state’s solution will be unique, and each will affect your business in different ways. Internet Tax There’s been a lot of hype around online sales tax this year. With federal lawmakers at an impasse, states are launching a frontal assault on Quill, […]
Microsoft Dynamics GP Year-End Close Training - December 2015
Year-end close is approaching. Are you ready? Join us for one of our complimentary Dynamics GP year-end close training seminars in Los Angeles and San Diego, CA. Our Dynamics GP team will share best practices related to period-end and year-end processes for your Microsoft Dynamics GP system, and show you how to avoid common mistakes to ensure a smooth and efficient year-end close. We will cover General Ledger, Accounts Payable, Accounts Receivable, Inventory and Payroll. The training is complimentary and open to all Dynamics GP users, and the sessions are eligible for CPE credits. Training material and breakfast will be provided. Sign up now to ensure a successful year-end close: Los Angeles When: Tuesday, December 8th, 2015 9:00 - 11:00 AM PST Where: Microsoft Office, Los Angeles 13031 West Jefferson Blvd, Ste 200 Los Angeles, CA 90094 (map it) San Diego When: Wednesday, December 9th, 2015 9:00 - 11:00 AM […]
Are You Making Sales Tax Mistakes?
For many companies, when the topic of sales tax comes up, the first response from most of the staff will be, “What’s the big deal? I just need a rate.” But when you ask a Controller or Finance professional, their first response is usually, “They don’t understand. It’s so much more than a rate.” Sales tax is more complex than ever and the rules of the game are constantly changing, making it increasingly difficult to maintain accuracy. Even the most seasoned tax professionals would have to be super human to be 100% on top of current rates, rules, jurisdictions, exemptions, and holidays. Here’s why different responses in the same company are a problem: Over 70% of the time, the tax and accounting departments aren’t even responsible for managing tax compliance (charging sales tax, collecting exemption certificates, etc…). For many companies, it’s the credit department who carries that burden. This disconnect […]