Monday is the start of Global Bookkeeping Week! The highlight is a virtual coffee meetup on Wednesday, 9/14, via Zoom. To participate, click this link to join at either 10 a.m. or 1 p.m. Pacific on Wednesday. More information can be found on the Global Bookkeeping Week webpage.
As always, here's a roundup of the best links I clicked on this past week:
Accounting Today — The End of Accounting?
Ron Baker reviews The End of Accounting by Professor Baruch Lev and Feng Gu. The authors argue that increasing complexity in GAAP has led to a deterioration of the usefulness and relevance of financial information, to the point that financial reports provide only 5 to 6% of the information relevant to and used by investors. And if investors aren't using the financials, what's the point? (read)
Spotlight Reporting — Spotlight Reporting Secures $5 Million in New Capital Raise
The popular reporting and dashboards company Spotlight Reporting has raised $5 million in a Series A round of fundraising. (read)
Expensify, the expense reporting app, has been named one of the top 100 companies in cloud computing worldwide on the first Forbes Cloud 100 list. For more about Expensify, read my article, Expensify is the Slack of Accounting. Expensify also recently opened up new offices in London and Melbourne. (read)
Sales & Marketing
Here are some excellent marketing tips for how to overcome the customer objection, “Why should I trust you?” (read)
Fast Company (via Medium) — This 100-Year-Old To-Do List Hack Still Works Like A Charm
Here’s a quick read about a super simple productivity method utilized by Charles M. Schwab of Bethlehem Steel Corporation. (read)
Here’s a guy who thinks that offering employees unlimited vacation is a terrible idea, and not because people will take advantage of it — It’s because they won’t. (read)
Tips & Tricks
- PayPal (payments) — PayPal, MasterCard reach deal for store payments (Reuters) — MasterCard and PayPal have expanded their partnership to allow customers to use PayPal’s payment services in retail stores.
- Spotlight (reporting & dashboards) — New Industry Templates — Spotlight’s latest release includes new templates for agriculture and hospitality. Templates are available in the template dropdown menu on the customize layout tab. You can give your input on the next templates to be released here: Vote now
- TaxJar (sales tax) — September 2016 Updates — Now you can choose to receive a monthly reminder of all your sales tax due dates. Also, the dashboard now prioritizes states by due date. And TaxJar now includes a link for manually filing past due returns.
- Xero (general ledger) —
- Xero HQ, Xero’s Strategy to Replace Practice Management Suites (by Digital First) — Check out this preview of the new “Xero HQ” to be released in November. Major features include a unified alerts home page and “Explorer,” which will allow you to view your client base by applications and industries.
- We’re adding more ways for Xero Partners to earn points and receive benefits — Xero is expanding a new “global points system” tested in Australia to the United States. One big change is that partners will now receive points for Xero Business Edition organizations that they have been invited to access even if they don’t own the billing relationship for that organization. This means that multiple advisors can receive credit for a mutual client.