Tax & Accounting Blog

Bank Account Reconciliation in Accounting CS

Bank Account Reconciliation in Accounting CS

Reconciling bank accounts is a complex process—but in Accounting CS, the Actions > Reconcile Bank Accounts screen and the Actions > Reconcile Impound Bank Accounts screen enable you to easily reconcile Accounting CS bank accounts. You can download transaction data from your financial institution, and then match and clear those transactions … Read More

Data Analytics and the Accounting Professional: What Does it Mean for You?

Data Analytics and the Accounting Professional: What Does it Mean for You?

As accounting professionals know all too well, it can be a challenge to run a practice, provide great customer service, keep up to date with constantly changing regulations and tax laws and (in case that’s not enough) stay informed on the latest technology trends and innovations. Practitioners often tell me they’re concerned they could be … Read More

IRS E-File Application Summary Required Prior to E-Filing with UltraTax CS and GoSystem Tax RS

IRS E-File Application Summary Required Prior to E-Filing with UltraTax CS and GoSystem Tax RS

If you haven’t already done so, you’ll need to provide a copy of your IRS e-file application summary before you can electronically file returns via UltraTax CS and GoSystem Tax RS. For UltraTax CS If you attempt to e-file returns in UltraTax CS without verifying your e-file application summary, you’ll receive the following message: “Your … Read More

IRS Warns Tax Professionals of Phishing Scam Targeting Practitioners

IRS Warns Tax Professionals of Phishing Scam Targeting Practitioners

As new IRS regulations implemented last year make it harder and harder for criminals to use consumer tax software to file fraudulent returns, they’re increasingly setting their sights on tax practitioners. More and more, hackers and fraudsters are attempting to steal sensitive client data, as well as hijack professionals’ tax systems (and EFINs) to use … Read More

Minimum Wage Updates—July 2016

Minimum Wage Updates—July 2016

Without much fanfare, several minimum wage changes occurred on July 1, 2016. Minimum wage increases usually take effect on January 1 of each year, but several areas—particularly localities—enacted changes in July due to increased pressure and publicity nationwide around minimum wages. Keep reading for a list of many of these changes and how Thomson Reuters … Read More