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Cloud Accounting Podcast

Author: David Leary & Blake Oliver, CPA

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The Cloud Accounting Podcast is the #1 accounting and bookkeeping podcast in the world! Join Blake Oliver and David Leary at the intersection of accounting and technology for a weekly news roundup, plus interviews with industry leaders.
179 Episodes
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We kick things off with an analysis of Intuit, Xero, and Sage earnings announcements, plus a roundup of new cloud accounting app features and a new blockchain app from Grant Thornton. Then we return to the PPP with the latest guidance from the SBA. Plus: How Deloitte is (apparently) screwing up the UK effort to make more PPE for its national healthcare system, and what Congress going remote means for the future of working from home.
A reality star has been charged with fraud for using his $2 million PPP loan to buy a Rolls Royce and bling! We're back with more news about the latest PPP guidance, plus the impact of COVID-19 on accounting jobs, some follow-up on MyPayrollHR, and Senator Burr's alleged insider trading scandal.
Could the tax deadline get extended again? The White House is considering it! Also, demand for the Paycheck Protection Program among small businesses has suddenly cooled, in part due to worries about bad PR and potential issues with loan forgiveness. We've got a survey of accountants showing how firms are handling coronavirus. Furthermore, the SBA has halted new applications for EIDL loans and is capping the amount at a fraction of the former max, the IRS is asking people to send back stimulus checks mailed to dead people, and more.
Before it could even get started, round two of the Paycheck Protection Program (PPP) ran into problems with the SBA website failing to handle the deluge of applications from banks both big and small. The blame game intensifies, with private schools joining public companies on Sec. Mnuchin's naughty list. Meanwhile, the Justice Department is launching an investigation of possible PPP application fraud, and the IRS decided that PPP loan-related expenses will NOT qualify for tax deductions. Finally, the AICPA urges PPP loan forgiveness guidance and makes recommendations, and we've got a survey of small businesses showing how the PPP is working out for them.
Mike Whitmire of FloQast joins the show to preview his new book for accountants, "Controller's Code: The Secret Formula to a Successful Career in Finance". We discuss how accounting teams are holding up in quarantine, why so many first-time controllers struggle in the job, how the role of the controller has changed, how technology continues to change the job, how controllers can be more forward looking, and where we're headed as a profession.
In this episode, we cover a survey that shows the impact of COVID-19 on the accounting profession, why the second installment of Paycheck Protection Program money may already be spoken for, how federal CARES Act unemployment benefits are ruining PPP, and a half decade of SBA security lapses. We'll also talk about resources to track PPP loan forgiveness, how having a digital currency could spare us all of this stimulus payments pain, and how to decide who to let go.
On Thursday the U.S. Treasury announced that the SBA's Paycheck Protection Program had run out of money. Now Republicans and Democrats are squabbling about whether or not to add more money to the pot. But perhaps first we should ask, what did the first $349 billion get us, anyway? Then, we dive into the what-ifs, and discuss better ways to spend trillions of dollars on our country. Plus, we find some other things to talk about, like the latest accounting firm layoffs, some new news from Plaid, Tiller Money, and more!
Erik Asgeirsson, CEO at CPA.com, and Mark Koziel, EVP of Firm Services at the AICPA, join the show for an episode all about the Small Business Administration's Paycheck Protection Program (PPP), which was created by the CARES Act two weeks ago to help small businesses pay their employees through the COVID-19 pandemic. We ask: Is the PPP working? How much of the PPP's $349 billion has actually been disbursed? What is the AICPA doing to support accounting pros struggling through this difficult time? Why didn't Congress go with the AICPA's plan to use payroll processors to distribute funds? What's up with banks not paying agent fees, and much more.
Heather Smith, chartered accountant and host of the Cloud Stories podcast, "calls in" to the show and gives us an update on what's going on with coronavirus / COVID-19 in Australia. We'd love to hear how you're doing, too! Call our listener voicemail box at ‪(202) 695-1040‬. Leave a message! We'll definitely listen, and we might even play it on the air.
There's nothing fast about the consumer, corporate, and small business protections that have been created to get us through the COVID-19 pandemic. We're covering a lot, including problems with the SBA Paycheck Protection Program (PPP); how the IRS can only print 5 million checks per week; and what makes Mnuchin's direct deposit website a fraud paradise. Then we'll touch on how fintech lenders are cutting credit with zero warning, WeWork's further troubles, accounting-industry layoffs, and how Lime screwed up laying off hundreds of employees. In addition, we'll check out what Intuit and other tech companies are doing to help small business, why some states have yet to get the COVID-19 memo when it comes to tax deadlines, and how David nearly got phished!
Michael Ly and Sabrina Parsons joined David and Blake to explain the Small Business Administration's Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP). Michael Ly, is the founder of Reconciled, a remote bookkeeping firm that is currently advising and helping hundreds of small business clients navigate both EIDL and PPP loans. Sabrina Parsons, who is on the board of directors at an SBA lender, Oregon Pacific Bank, has been actively communicating with both the SBA, and the Small Business Development Center (SBDC) this week.
We ask: When will things go back to normal? Blake has some ideas thanks to a spreadsheet and some polls of experts • The founder of Paychex worries that "keeping the economy closed as it is could be worse than losing a few more people." • The AICPA has an idea to use payroll processors to distribute economic relief to SMBs • Why its unlikely that stimulus checks will actually go out in 3 weeks as promised • COVID-19 resources for accountants • Boston area CPA still making house calls • IRS shuts down practitioner priority line • Why you should ignore the "economic doom" numbers • Revolut launches in the US • Square gets a bank charter • How the Digital Dollar almost got snuck into the stimulus bill • The value of Zoom Happy Hours
We're joined by tax expert, tax attorney, author, and Forbes columnist Kelly Phillips Erb AKA @taxgirl. Kelly gives us the rundown of what's been going on in Congress with tax deadline extensions, small business relief due to coronavirus, and more. We also discuss the Senate stock sale scandal, potential job losses in accounting due to the recession we have almost certainly entered, accounting firms going remote, the challenges of remote work, and how we can more effectively communicate clients about COVID-19.
Congratulations to Practice Ignition's Top 50 Women in Accounting 2019! Also, the union representing IRS workers is concerned about the agency's coronavirus response, the impact of Covid-19 on remote work, Icahn is shorting commercial office space, tech tools for virtual accounting firms, a Turbotax phishing scam, GE is considering kicking KPMG to the curb, how much CPAs make, ways women can overcome CPA firm gender imbalance, follow-up to the Wells Fargo fake accounts scandal, and Amazon is opening bigger cashless stores.
BREAKING NEWS: David and Blake record a special episode to make sense of the rapidly changing coronavirus and COVID-19 news impacting the accounting industry.
We cover a lot of ground in this episode, starting off with what companies are disclosing about coronavirus risks. Then, we touch on the Wells Fargo fake accounts scandal, how Shark Tank 'Shark' Barbara Corcoran got her $400,000 back from scammers, and explore the LendingClub purchase of Radius Bank for $185 million - the first fintech takeover of a regulated US bank. In other news, there's the Robinhood outage, NetSuite's adaptation of bank feeds, Sage's departure from Latin America, and the closing of legal startup Atrium. What's more, we examine Deloitte's new VR platform, why QuickBooks Connect London is cancelled, and how the IRS expects to audit more wealthy taxpayers. Not last, and definitely not least, we explore the reasons why women leave accounting firms, what we can do about it, and more!
We've got a lot of news to keep you occupied this week, including how Shark Tank host, Barbara Corcoran, lost $400K due to invoice scam; Intuit's Q2 Earnings call & plans for Credit Karma; and how high housing costs contribute to the growth of remote work. We'll talk about Intuit partnering with Karbon for practice management, Revolut's plans to revolutionize banking in the United States, the best online banks for businesses, and what's new with QuickBooks Online. Then, we'll cover Pilot's new CFO services, the Drake Hosted outage, IRS confusion regarding virtual currency, how AI is coming for tax evaders, and the AICPA's thoughts on climate change.
Debit Intuit, Credit Karma

Debit Intuit, Credit Karma

2020-02-2401:01:04

We kick things off with the breaking news that Intuit is expected to acquire Credit Karma for $7 billion. Meanwhile, the Nevada Democrats used spreadsheets to caucus without a hitch, Bloomberg and the Democratic Primary debate becomes an advertisement for TurboTax, Warren Buffet again decries the 2018 mark-to-market accounting rule, another ransomware attack puts patient data at risk, plus follow up on the value of the PCAOB ( Public Company Accounting Oversight Board), a congressman who is taking on FASB, a new UX for QuickBooks Online, and more!
With Valentine's Day 2020 on the books, we're sharing the love with a wealth of news, including how the Trump Administration wants to kill the PCAOB — and we agree; how the ransomware industry is growing at startup pace; the latest trends in remote work; and why the UK is the next cloud accounting battleground. We'll also examine seven reasons to date a finance pro, Rhode Island's 1040 form emojis, updates from Xero, FreshBooks, Kashoo, Joust, and Receipt Bank. Wrapping things up, we've got updates on MyPayroll HR, news about an unfortunate phishing scam that hit the Puerto Rican government, and why people don't feel like leaving their hearts (or their companies) in San Francisco any more.
In this episode: How Intuit plans to recruit QuickBooks Live bookkeepers inside of QBO (could they be coming after your staff?); Chase's WePay could turn into a general ledger app; the MyPayroll HR bank gets sued; AICPA CEO Melancon says CPA licensing is under threat, but is it, really? And more!
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Comments (1)

roy

QuickBooks support is the top quality software for accounting purposes. It is used by millions of small scale enterprises and also the medium-sized firms for managing their account systems effortlessly. Quickbooks Support | Quickbook Desktop Support

Jan 8th
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