How artificial intelligence and machine learning will transform accounting

I'm pretty excited about the future of accounting software!  (Did I REALLY just say that?!!!)  Yes, it's true!  Think about how Siri and Google have really changed the way we work (for me...  it has been significant).  Xero wants to provide us accounting software that knows what we are want to do... before we even start typing.  I'm already extremely impressed with the efficiencies I see running my client's books (AND my own) through Xero's accounting software... and I am really looking forward to how they intend to anticipate how I will run my books. 

If you've been curious about this "Xero" company you've been hearing about, please contact me.  I spent a couple of years testing it against QuickBooks, and love it enough to become a Partner and Trusted Advisor with them.  I'd love to help you see if they would provide a good fit for you and your small business.  (530) 417-3810Karin Amann

See the following link for an article about how Xero intends to transform accounting using artificial intelligence and machine learning:

https://www.xero.com/blog/2017/02/artificial-intelligence-machine-learning-transform-accounting/

Will the new OVERTIME regulations impact your firm?

The regulation changes are effective December 1 will increase the overtime exemption threshold from $23,660 to $47,467 for your salaried (exempt) employees.  This is a very big change.  The following summarizes the new overtime regulations and provides some options for you as an employer. 

https://blog.tsheets.com/2016/news/new-dol-overtime-rules

Small Business Accounting Checklist

Love this little article by Kristin Ewald and QuickBooks!  If you are a new small business owner, or one that gets nervous just thinking about dreaded accounting tasks, you may find some clarity with this one.  

The graphic at the bottom of the article gives a clear checklist of daily, monthly, quarterly, and annual tasks that all small businesses should do to keep compliant, sane, and prepared for anything.  Well, almost anything.  :-)

Check it out!

quickbooks.intuit.com/r/bookkeeping/small-business-accounting-checklist-10-things/

Accounting Software Can Be Fun. Really!

Seasoned small and micro business owners often tell me how much they despise the bookkeeping task. So much so, that some only deal with it when tax season rolls around.  However, understanding how your numbers are doing is so much more useful to guiding your business than simply prepping for taxes.  But those days are quickly coming to an end.  Hallelujah!

YESTERDAY:  Troubleshooting accounting desktop software, fixing mistakes, and doing the data entry took up so much time, I rarely had time in my client's budget to analyze their books and help them grow their business.  

TODAY:  Cloud accounting software (such as Xero and QBO) provide options for drastically reduced errors due to automatic daily data entry of all those pesky daily income and expense transactions.  Xero has even completely eliminated that most feared (yet necessary) task called reconciliation.  Now that the time consuming task of entering transactions is gone, I can spend my time guiding your business, helping you grow.  And YOU can focus on doing what YOU love!

Take a look at this article, and let me know if it inspires you to change your bookkeeping from frustrating to fun!  I can help you make the change, do the change for you, or even take over that miserable task of bookkeeping entirely!  

https://www.xero.com/small-business-guides/accounting/business-accounting-is-fun/

Karin Amann Business Services

(530) 417-3810