Cloud Accounting Weekly #6

Here's a roundup of the best links I clicked on this past week.

Industry News

TransferWise cofounders Kristo Käärmann and Taavet Hinrikus

Skype For Cash: How TransferWise Is Upending The Way Consumers Move $3 Trillion Around The Globe

Forbes features TransferWise cofounders Kristo Käärmann and Taavet Hinrikus, who are disrupting international payments from their headquarters in Estonia. (read)

Xero draws a crowd in South Africa

Over 600 accounting and bookkeeping professionals showed up to Xero's Roadshow events in Johannesburg and Cape Town this month. (read)

Intacct CFO Marc Linden Named CFO of the Year in Silicon Valley

Intacct's chief financial officer, Marc Linden, has been named CFO of the Year in the venture-backed company category by the Silicon Valley Business Journal. (read)

New RIVIO System Delivers Source-Validated Financial Documents and announced the launch of RIVIO Clearinghouse, which will allow CPAs to provide financial documents securely to bankers, shareholders, and other investors on behalf of their clients. (read)

Intuit Announces QBO Partnership with BDO

Intuit announced a new strategic alliance with accounting and consulting firm BDO USA for the firm to use QuickBooks Online as a technology partner, providing online accounting services to its small business clients. (read)


Accountex USA: Register by Monday, May 30th to lock in early bird rates for the 2016 conference

Accountex USA (formerly the Sleeter Conference) is scheduled for November 15-18 at the Mirage Las Vegas. Book by May 30 for early bird pricing. (register)

QuickBooks Connect: October 22-26, 2016 in San Jose

Intuit has announced the dates for their annual QuickBooks Connect conference. Malcolm Gladwell will be a featured speaker. Early bird pricing for a 3-day pass is $399 (vs. $599) through July 31. (register)


Raj Bhaskar

Grow My Accounting Practice — Ep. 41: The Technological Wind of Change

"Raj Bhaskar shares the insights of what his company is developing for entrepreneurs and freelancers. In short, it is a software that is going to manage all their business finances and taxes automatically; this is representative of things to come in the future." (listen)

Software Updates

Xero: Payroll is now available for Ohio and Arizona

Xero Payroll is now available to pay employees in Ohio and Arizona. Xero will take care of payroll calculations and employee direct deposit. You'll need to manually file and pay payroll taxes directly to the state while Xero works on electronic filing for these states. (read)

QuickBooks Online: Release Notes for May 2016

Now you can quickly grab an invoice link to share with your customers in QBO. 

Now you can quickly grab an invoice link to share with your customers in QBO. 

Now you can...

  • easily grab invoice links to share with your customers
  • select a product/service by description
  • search for an item by description
  • track products and services by SKU
  • edit an inventory item's starting value transaction in the register
  • track locations and classes with inventory
  • print a physical inventory worksheet
  • print and preview refund receipts
  • filter list of open invoices to a specific date range

and more! (read) Sync Status Got a Facelift! is working on revamping their Sync Status page to make it easier to resolve sync conflicts between and the various accounting GL integrations. (read)

A preview of the upgraded Sync Status screen

Spotlight Reporting upgrades chart customization options and adds new forecasting features

Read more about the Forecasting update and customizable charts on the Spotlight blog.

Now you can change charts from displaying monthly data to quarterly or annual data in Spotlight. These new options are great if you typically only report quarterly or annually. This also gives you the ability to provide annual Spotlight reports along with the year end financial statements. Just hover over your charts to see the new feature. (learn more)

The new depreciation rule in Spotlight will automatically journal depreciation to the balance sheet and treat it as a non-cash item. You can also easily apportion depreciation to multiple accumulated depreciation accounts. (learn more)

The new integration will allow end users who are puchasing goods and services from a Revel client's point-of-sale the ability to send receipts directly into Expensify. (read)

Accountant Resources

Accountex: With QuickBooks Bank Feeds

Judie McCarthy explains on the Accountex Report how to clean up problems with clearing accounts caused by client confusion with using QuickBooks or QuickBooks Online bank feeds. (read)

Karbon: Accounting for the generational shift

Check out this excellent white paper by the good people at Karbon (email required to download). This report explores five key areas your firm must embrace to attract the best millennial recruits:

  • Self-development & growth
  • Flexibility
  • Technology
  • Impact & belonging
  • Innovation



ProBlogger: How to Write Engaging Content About “Boring” Subject Matter

Check out this post from ProBlogger for tips on how to write interesting articles for a boring niche, such as *cough* accounting *cough*. (read)

From the Blog

Shoeboxed founder Taylor Mingos

Shoeboxed founder Taylor Mingos

Shoeboxed takes a stand against North Carolina's HB2

Taylor Mingos, founder of receipt scanning and document management service Shoeboxed, speaks out against North Carolina's House Bill 2 (the "Charlotte bathroom bill"). (read)