Many businesses struggle with procurement, whether hiring contractors, buying equipment, or paying vendors. Here are some tips for streamlining your company's purchase order (PO) approval process.

Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason is a tax law scheduled to expire in about 17 months and how politicians in Washington would like to handle it.

Effective expense reporting is essential to maintaining rigorous financial controls critical to any business's profitability. Monitoring employee expenditures allows your organization to track spending, control costs, and maintain accurate financial records.

The Inflation Reduction Act provided the IRS with billions of dollars of additional funding to reduce the so-called “tax gap” between what taxpayers owe and what they actually pay. The tax agency has already launched numerous initiatives aimed at this goal, including several business-related compliance campaigns. Let’s take a closer look at three of the most significant recent targets.

Fraud, waste, and abuse can severely impact not-for-profit organizations' financial health and reputation. Understanding and mitigating these risks is essential for maintaining public trust and ensuring the sustainability of your mission.

Comprehensive due diligence is essential when acquiring a business. Financial due diligence, in particular, can be daunting, especially for inexperienced buyers and sellers. However, with the support of financial and accounting professionals who can evaluate past and future financial statements, spot hidden liabilities, uncover management missteps, and ensure earnings accuracy, this task becomes more manageable. Their expertise provides crucial information that shapes deal terms, purchase prices, and validates key financial information related to your investment decision.

With the evolution of cloud computing, many businesses are considering switching from traditional desktop accounting software to cloud-based solutions like QuickBooks Online (QBO). Here's what you need to know to decide if this switch suits you.

ACH fraud occurs when unauthorized transactions are made through the ACH network, which processes large volumes of credit and debit transactions. Fraudsters can exploit vulnerabilities in your payment systems to initiate unauthorized transfers, leading to substantial financial losses.

If you're a college athlete, you can make a massive fortune of up to seven figures using your name, image and likeness (NIL). It all amounts to you creating your own personal brand. This comes after a 2021 ruling by the US Supreme Court and the establishment of National Collegiate Athletic Association (NCAA) rules to govern how athletes can benefit from NIL activities.