Here's your weekly accounting and bookkeeping news roundup (with a tech-focused twist). Thanks for listening! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, do us a favor and leave a review on iTunes.
In this week’s accounting news roundup: how tax season could be extended by 5 weeks, the latest QuickBooks updates and problems with new usage limits, Louisiana gave out $26 million in extra tax refunds by accident, why you need to be concerned about tech companies offshoring your client data, Canopy laid off 40% of its workforce, and more
Shoutouts to some of our favorite people on the new Top 50 Women in Accounting list by Practice Ignition, details on “Intuit Expert Connections,” another test that Intuit is running to gauge interest in a marketplace to connect tax pros and tax firms, a report suggesting that Congress should extend tax season, metrics on the typical number of accounts in a Chart of Accounts, the latest M&A activity in the cloud accounting ecosystem, a survey about remote work, and more
Can you believe it? A question about QuickBooks Live made it into the latest Intuit earnings call! In other Intuit news, the company recently caught and stopped a hack. Find out how you can protect yourself from similar attacks. Also, we take a look at ProAdvisor feedback from the Joe Woodard online town halls. In non-Intuit news, Jamie Dimon is jealous of Square’s innovations, Abacus adds travel booking to its expense management app, and a new study suggests switching jobs is the easiest way to make more money.
This bonus episode of the Cloud Accounting Podcast features an extended interview with Enrico Palmerino, CEO of Botkeeper, and his technical director Justin DoBosh. The interview was recorded via Facebook Live on Friday, March 1. It was organized by Cloud Accounting Podcast co-host David Leary to address outstanding questions from our previous coverage of Botkeeper on this podcast as well as an article Blake Oliver published entitled “It’s not a bot — the truth about Botkeeper, the Google-funded, AI-powered “bookkeeper replacement.”
We dig into the Botkeeper website, press coverage about the firm, the CEO’s public statements, and review sites to try and figure out what exactly Botkeeper claims to be, and how significantly that differs from the reality, which includes a team of offshore accountants in the Philippines doing much of the work. Also, a discussion of Intuit’s earnings, Avalara’s latest AI acquisition, new limits in QuickBooks Online, and more cloud accounting news.