The Accounting Podcast

By Blake Oliver & David LearyNews News Commentary Business News

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The Accounting Podcast episodes

August 12, 2020When Time-Based Pricing Works (Or Does It?)
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Show Notes

Coming soon!
Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

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Transcript

ADP has your back with ADP Marketplace, a digital HR storefront. Be a more trusted advisor to your clients by recommending apps to help streamline HR processes and free up time to focus on people. Stay tuned to hear more from our sponsor, ADP Marketplace, later in the episode.

Blake Oliver: [00:00:19] Well, apparently, they didn't even talk. He didn't even talk with the client about what it would cost at the beginning. He presented his bill after the fact, and the client accepted it-

David Leary: [00:00:28] Which tells me they got a lot of value out of it, and they didn't put up a fuss. He undercharged it. He left value on the table.

Blake Oliver: [00:00:36] That's my feeling, too. Just because you can't think of a way to do a value-based bill for this doesn't mean that there isn't a way.

____________________
This episode of The Cloud Accounting Podcast is sponsored by ClockShark. ClockShark is the leading GPS, time-tracking, and scheduling system built for local construction and field-service companies that want a simpler way to track time, run payroll, and understand job costs. With the capabilities of crew tracking, scheduling, jobsite geofencing, teams, and project segmentation, automatic labor allocation, budgeting, and reporting, ClockShark has built a robust mobile time-tracking system to handle the unique challenges that face your clients.

With ClockShark, your clients can keep accurate records, like overtime, paid time off, unpaid time, hours per job, and tasks, as well as the crucial data needed for certified payroll. With the integrations ClockShark has, you'll be able to connect to one of many ADP payroll platforms through ADP Marketplace and process payroll in minutes with the click of a button. ClockShark's pricing starts at just $6 a month per employee. Head over to cloudaccountingpodcast.promo/clockshark.
____________________
This episode of The Cloud Accounting Podcast is sponsored by Relay Financial. Wouldn't it be great if you could open a new business bank account 100-percent online without having to go to a physical bank branch? Relay is a 100-percent online bank that is 100-percent focused on small business. With Relay, you can effortlessly collaborate with team members, manage payments, and issue corporate cards all from a bank.

Accountants and bookkeepers love Relay because they get a partner portal, can manage staff access without compromising security, and enjoy enriched direct bank feeds to QuickBooks Online, and Xero. To sign up in less than 10 minutes and enjoy stress-free banking with no monthly fees, or monthly minimum balances, head over to CloudAccountingPodcast.promo/relay.
____________________
Blake Oliver: [00:02:42] Welcome to The Cloud Accounting Podcast. I'm Blake Oliver.

David Leary: [00:02:46] And I'm David Leary.

Blake Oliver: [00:02:47] So, David, after last week, I felt like we had so many stories, I said I would bring five stories today, and I think I have 25. I just can't do it. I can't cut it down enough. I'm going through my list, and I'm trying to highlight the ones that I do think are the top five. I've got the Intuit acquisition of TradeGecko. That's a big one.

David Leary: [00:03:07] That's correct. That's a big one.

Blake Oliver: [00:03:07] Rippling raised a ton of money. I've got an article in CPA Trendlines, an opinion piece - "When Time-Based Pricing Works." I don't know ... What do you got?

David Leary: [00:03:17] A lot of smaller ap news. Different people did raises. Related, on the other side of Intuit's acquisition of TradeGecko, Webgility announced a partnership with QuickBooks Desktop, which I find was like, okay, here's a competing product, but in the Desktop space. What direction is the train headed here? That was a little confusing.

Blake Oliver: [00:03:39] Well, I think we should then dig into app news. We are The Cloud Accounting Podcast, let's start with that, but first, we have a review, right?

David Leary: [00:03:45] We have two reviews.

Blake Oliver: [00:03:46] This is from Joe, via Apple Podcasts. Five Stars, Great content and timely on current events. "Great podcast with timely and relevant content for forward-thinking accountants. Much easier and better ana...
1 hr
August 04, 2020Intuit Launches QuickBooks Cash
Sponsors
ADP Marketplace: https://cloudaccountingpodcast.promo/adp
ClockShark: https://cloudaccountingpodcast.promo/clockshark
Smansha: https://cloudaccountingpodcast.promo/smansha
Show Notes
04:55 – Boomer Consulting Virtual Summit on August 9-12 – Boomer Consulting.
05:14 – VirBELA – Virtual work platform
08:16 – Congressional Democrats, White House still at impasse over coronavirus bill – Reuters
08:53 – New York Times on U.S. Coronavirus Aid - Twitter
09:49 – IRS offers new procedure for changing accounting method amid coronavirus – Accounting Today
10:30 – SBA watchdog report reveals ‘pervasive’ fraud in coronavirus disaster loan program – The Washington Post
11:56 – Florida Man Took Coronavirus Aid and Bought a Lamborghini, Officials Say – New York Times
13:39 – Tech Executive Charged With PPP Fraud Deposited in Robinhood – The Washington Post
14:48 – Letter to the editor: Accounting firms should repay PPP loans – The Virginia Gazette
17:02 – When Their PPP Loans Didn’t Come Through, These Businesses Broke Up With Their Banks – Wall Street Journal
19:47 – QuickBooks Cash
Intuit intros QuickBooks Cash, a bank account for businesses – Accounting Today
Small Business Bank Account & Debit Card - QuickBooks Cash – Intuit QuickBooks
24:30 – Latest Produce News – August 2020 - Xero
Duplicate Statements Line Report – Xero
25:08 – Enova to Acquire OnDeck in $90 Million Deal - Finovate
25:43 – Why OnDeck is being sold on the cheap – American Banker
26:18 – French Company to Buy Fintech YayPay – CFO
27:03 – New & Improved in FreshBooks: Checkout Links, Tax Time Hub, and More - FreshBooks
New: Get 1-Step Online Payments With Checkout Links – FreshBooks
27:36 – Gusto launches their 'People Advisory' designed to help accountants think differently about Payroll – Insightful Accountant
Become People Advisor Certified – Gusto
Gusto Adds New Accountant Advisory Service to its Offerings – AccountingWEB
Gusto introduces certification program for accountants – Accounting Today
29:32 – Vertex goes public on Nasdaq – Accounting Today
31:06 – Shopify’s Revenue Nearly Doubles as Covid-19 Pushes Shopping Online – Wall Street Journal
32:28 – Taxfyle forms RMW Accounting, seeks to acquire CPA firms – South Florida Business Journal
33:34 – AI accounting startup Candis raises $14M in fresh funding - SiliconANGLE
37:17 – A disruptive vision: Varo is officially a bank – Bank Innovation
37:44 – Monzo's losses double as popular UK digital bank warns of pandemic uncertainty- CNBC
39:05 – Big bank offers up $500 cash to customers – News.Com.Au
39:34 – ZenBusiness Acquires Joust, the Leading Fintech for Small Business Entrepreneurs – Business Wire
42:54 – Review!
Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on
46 min
July 28, 2020Why ScaleFactor Failed, According to Employees (It Wasn't COVID-19)
Sponsors
ClockShark: https://cloudaccountingpodcast.promo/clockshark
BQE Core: http://cloudaccountingpodcast.promo/core
Show Notes
05:55 - What Arizona's Tenuous Coronavirus Plateau Could Teach Us – NYTimes
09:32 - McConnell’s stimulus waiting game turns into race against clock – Accounting Today
10:10 - White House, GOP Agree On $1T CARES 4.0 - PYMNTS.com
11:12 - What Democrats and Republicans want in the next coronavirus relief package – Reuters
14:10 - State CPA society CEOs call for federal relief for state and local governments amid coronavirus – Accounting Today
15:09 - New AICPA tool automates PPP loan forgiveness process - Journal of Accountancy
https://www.pppforgivenesstool.com/
17:15 - Strip-club stimulus reveals lingering uncertainties over U.S. small-business aid – Reuters
21:00 - Why Zoom meetings really do leave you exhausted - Journal of Accountancy
23:12 - Companies Start to Think Remote Work Isn’t So Great After All – Wall Street Journal
24:41 - Staff do worse when asked to report frequently, accounting study shows – CFO Dive
25:23 - 66% Working from Home Say They're More Likely to Work Nights and Weekends – Small Business Trends
27:41 - Employees Want to Return to a Physical Workplace – Small Business Trends
30:25 - ScaleFactor Raised $100 Million In A Year Then Blamed Covid-19 For Its Demise. Employees Say It Had Much Bigger Problems. – Forbes
48:20 - Siri Srinivas on Twitter on the Forbes ScaleFactor article - Twitter
52:12 – A listener's feedback on our brief discussion on modern monetary theory – Twitter
58:37 - The Rescues Ruining Capitalism – WSJ
1:00:58 Jirav scores $8M in Series A funding – Accounting Today
1:01:03 - Lawsuit Alleges Plaid Violated User Privacy - PYMNTS.com
1:01:20 - Kabbage Rolls Out Checking Accounts For SMBs - PYMNTS.com
1:01:24 - Brex Offers FDIC Insurance - PYMNTS.com
1:01:31 - FinTech Revolut Raises $80M In New Funding - PYMNTS.com
1:01:41 - Painting the Art of the Possible, with Brad Smith - Shift
Addendum: Scale Factor

Botkeeper story we broke in FEB 2019
https://medium.com/datadriveninvestor/its-not-a-bot-the-truth-about-botkeeper-the-google-funded-ai-powered-bookkeeper-replacement-9c3f42d230b6
https://www.cloudaccountingpodcast.com/60
https://www.cloudaccountingpodcast.com/61
https://www.facebook.com/davidleary/videos/10157125979906477/
VisorTax's failure
https://www.linkedin.com/pulse/think-your-2018-tax-season-tough-check-out-visors-attempt-david-leary/
https://www.cloudaccountingpodcast.com/70
Our past Scalefactor coverage
https://www.cloudaccountingpodcast.com/55
https://www.cloudaccountingpodcast.com/104
https://www.cloudaccountingpodcast.com/160
Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040
Need Accounting Conference Info?

Check out our new website - accountingconferences.com

Limited edition shirts, stickers, and other necessities

TeePublic Store: http://cloudacctpod.link/merch
1 hr 4 min
July 21, 2020Technology Reduces Accountant Stress During Pandemic
Sponsors
Accountant Connect: https://cloudaccountingpodcast.promo/adp
ClockShark: https://cloudaccountingpodcast.promo/clockshark
BQE Core: http://cloudaccountingpodcast.promo/core

Show Notes
06:40 – Faulty data collection raises questions about Trump’s claims on PPP program – Washington Post
10:41 – New York City Didn’t Get Fair Share of PPP Loans, Comptroller Report Says – Wall Street Journal
11:59 – Public Favors Small-Business Funds Going to Non-Chain Restaurants, Medical Groups, Private Schools - Morning Consult
13:18 – Kanye West says he’s running for president – POLITtransactions
13: 51 – Last week's discussion on PPP agent fees
14:08 – How banks are trying to hurt small business in a time of crisis - Newsweek
15:10 – Accountants predict 2020 will be worst year for economy since World War II – Accounting Today
16:00 – Wall Street’s Earnings Forecast: Cloudy With a Chance of Turbulence - Wall Street
Journal
16:50 – 5 reasons borrowers shouldn’t rush their PPP forgiveness applications - AICPA Insights
Under stress, accountants seek new tech to get through the pandemic – Accounting Today
17:54 – Under stress, accountants seek new tech to get through the pandemic – Accounting Today
29:25 — U.K. Regulator Orders Big Four to Separate Audit Practices by 2024 – Wall Street Journal
32:27 – Debating the CPA License: Martin Zych + Blake Oliver + Brian Tankersley - CPA Review & More
33:40 – FASB Concepts Statement No. 8 – Conceptual Framework for Financial Reporting ... – FASB
34:49 – Zoom for Home is Here to Empower Remote Workers – Zoom
Zoom introduces all-in-one home communications appliance for $599 – TechCrunch
38:45 – Right Networks Releases Enhancements to Transaction Pro for QuickBooks Online – AccountingWEB
40:51 – Coconut Notches $3.15M For SMB Accounting - PYMNTS.com
42:15 – Stimulus Package May Be Unveiled Next Week - PYMNTS.com
44:28 – Fact check: Americans could get a $4,000 tax credit for domestic travel in stimulus – USA Today
Sen. Schumer Calling for more Federal Funding for Small Businesses and Schools in the S. Tier – WENY
Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

Need Accounting Conference Info?

Check out our new website - accountingconferences.com

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Transcript

ADP has your back with Accountant Connect. Their award-winning multi-client payroll management and analytics platform is a remarkably effective tool for adding value to every client engagement. Stay tuned to hear more from our sponsor, ADP Accountant Connect, later in the episode.

Blake Oliver: [00:00:21] Most accountants are working harder and longer si...
48 min
July 14, 2020Who Didn't Get a PPP Loan?
Sponsors
AccountingSuite: https://cloudaccountingpodcast.promo/asuite
Jirav: https://cloudaccountingpodcast.promo/jirav
BQE Core: http://cloudaccountingpodcast.promo/core
Show Notes
00:18 – Hasan Does Tax ASMR, Patriot Act Digital Exclusive, Netflix – YouTube
03:47 – SBA, Treasury release names of some PPP recipients - Journal of Accountancy
05:01 – PPP millions went to firm identified in Ukraine money-laundering suit – Crain's Cleveland Business
05:11 – The billionaires who received small business loans from the government, plus everything else you missed in business news - CNBC After Hours
Kanye West’s Yeezy Got Millions From Federal Government’s Paycheck Protection Program – 2 CBS Chicago
05:16 – Small business aid winners include Five Guys, Planned Parenthood, Grindr - POLITICO
05:31 – Millions in aid from small business relief fund went to "hate groups" – CBS News
05:43 – In sign of the times, Ayn Rand Institute approved for PPP loan – Reuters
The Ayn Rand Institute bootstrapped its way to a PPP Loan of at least $350K – Literary Hub
06:03 – Grover Norquist’s Anti-Tax Group Took Money From the Paycheck Protection Program - Slate
06:25 – Religious organizations receive $7.3 billion in PPP loans, megachurches amass millions - Newsweek
U.S. Catholic Church Received Billions in Taxpayer Funds From Paycheck Protection Program - TIME
06:43 – A List Of Rich & Famous People Who Got Small Business Loans From The Government – Refinery29
Here are the eyebrow-raising Paycheck Protection Program loans in Florida – Tampa Bay Times
07:16 – Trump’s Waikiki Partner, Kushner Family Among PPP Borrowers – Washington Post
07:40 – Let the Paycheck Protection Program Shaming End! | LinkedIn
09:09 – Small business coronavirus relief loan database contains some big errors, firms say - CNBC
11:49 – Here Are the Accounting Firms That Received PPP Loans Because We Know You Want to Know - Going Concern
12:12 – Accounting Firms Take Billions in PPP Payouts – CPA Trendlines
15:52 – IRS to start collecting overdue tax payments as AICPA urges continued relief – Accounting Today
16:40 – Mnuchin: Any PPP Extension Would Be 'Targeted' - PYMNTS.com
17:43 – ProPublica: Tracking PPP Loans - ProPublica
19:38 – Wells Fargo Sets Out Its $400M Plan For SMB aid - PYMNTS.com
20:16 – Banks Could Get $24 Billion in Fees From PPP Loans - WSJ
21:31 – How small NJ bank Cross River distributed $5.4B in PPP funds – New York Post
23:08 – Latest product news – July | Xero Blog
26:39 – Welcoming the Stitch Labs Team to Square - Square
28:58 – Venmo Pilots Business Payments For Micro SMBs - PYMNTS.com
29:38 – Big jumps seen in tax prep fees: Survey – Accounting Today
31:00 – More AICPA tax talk from last week's episode
32:08 – Supreme Court grants N.Y. access to Trump taxes, blocks House – Accounting Today
33:57 – Why Doing Taxes is So Hard - YouTube

Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

Need Accounting Conference Info?
Check ...
42 min
July 08, 2020Tax Day is July 15... Still
Sponsors
Synder: https://cloudaccountingpodcast.promo/synder
ClockShark: https://cloudaccountingpodcast.promo/clockshark
BQE Core: http://cloudaccountingpodcast.promo/core

Show Notes
07:02 - Treasury Department, IRS will not extend Tax Day a second time - CNBC
07:09 - July 15 Filing Date — Not to Move – AICPA
In March, the AICPA advocated to move the deadlines to October 15 - AICPA
Some AICPA tweet (and replies) about the filing extension issue – Twitter
09:10 - Tax TeleGraf tweet on reasons you can control vs. can’t control: - Twitter
11:10 - IRS will not postpone July 15 deadline - Journal of Accountancy
12:02 - Wirecard’s Adventure-Seeking No. 2 Was Key to the Firm’s Rapid Rise. Then He Disappeared. - WSJ
12:58 - Wirecard ex-COO Marsalek's entry into Philippines was faked, minister says - Reuters
14:40 - More Wirecard discussion from last week's episode, 181
16:17 - Wirecard Scandal Puts Spotlight on Auditor Ernst & Young - WSJ
17:05 - Wirecard Exposes Big 4 Accounting Lapses Endure Post-Enron – Claims Journal
20:06 - Your Wirecard E-Cash Was Safe Until It Wasn’t - Bloomberg
21:24 - SoftBank Wants Out Of Wirecard Partnership | PYMNTS.com
22:27 - Corporate audits fell 71% as coronavirus crippled IRS – Accounting Today
22:33 - Millionaires face near-zero chance of IRS audit — for now – Accounting Today
23:12 - IRS wasting millions on audits with no results, watchdog says – Accounting Today
26:05 - IRS chief pledges to work with Congress on examining tax code's role in racial wealth disparities – The Hill
26:59 - House joins Senate in approving 5-week PPP extension - Journal of Accountancy
Senate passes extension of small business loan program – Accounting Today
27:50 - Has There Been $1 Billion in PPP Fraud? - Entrepreneur
29:19 - Watchdog’s deceased mother one of 1.1M to get stimulus check – Accounting Today
29:58 - What Should Business Owners Do After They Run Out of PPP Loan Money? - AccountingWEB
33:09 - In the Covid-19 Economy, You Can Have a Kid or a Job. You Can’t Have Both. - The New York Times

Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

Need Accounting Conference Info?

Check out our new website - accountingconferences.com
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Transcript

If you...
43 min
June 28, 2020ScaleFactor Fails to Scale, Blames COVID-19
Sponsors
Accountant Connect: https://cloudaccountingpodcast.promo/adp
Synder: https://cloudaccountingpodcast.promo/synder
Smansha: https://cloudaccountingpodcast.promo/smansha

Show Notes
09:59 – A Message from Founder and CEO Kurt Rathmann - ScaleFactor
12:06 – Fintech Startup That Raised $100 Million From Investors Bessemer And Coatue Is Abruptly Shutting Down - Forbes
14:05 – ScaleFactor is shutting down after coronavirus craters sales – Austin Business Journal
16:58 – ScaleFactor Announces “2.020” Vision, Including Plans to Build Marketplace for On-Demand Financial Solutions – Business Wire
19:45 – Our early ScaleFactor speculations - Episode 70
20:36 – The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch - 20VC: Raising $105m in Just 13 Months Over 3 Separate Rounds, The 5 Core Ways VCs Can Add Value & How Founders Can and Should Fully Leverage Their Cap Table with Kurt Rathmann, Founder & CEO @ ScaleFactor – The Twenty Minute VC
29:16 – ScaleFactor: Our Response to the News - Acuity
32:18 – Wirecard AG’s former chief executive officer was detained by Munich prosecutors – Accounting Today
33:42 – Wirecard filed for bankruptcy this week – Wall Street Journal
Backstory: Wirecard’s suspect accounting practices revealed – Financial Times
34:00 – Softbank sues E&Y over Wirecard - CNBC
38:36 – Nasdaq to suspend trading of Luckin Coffee shares from Monday - Reuters
39:12 – GE KPMG Auditor Swap: General Electric and KPMG Officially Call It Quits – Going Concern
40:38 – Intuit changes tech development focus, lays off 715 – Accounting Today
44:45 – IRS sent $1.4B in stimulus checks to dead people, audit finds – Accounting Today
47:42 – PPP recipients can apply early for loan forgiveness, SBA says - Journal of Accountancy
48:31 – SBA exempted lawmakers, federal officials from ethics rules in $660 billion loan program – Washington Post
52:39 – Mastercard to purchase open-banking company Finicity for $825 million – MarketWatch
55:40 – Last week's Square discussion – Episode 180
56:35 – Are Intuit and Square dating? - Square

Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040
Need Accounting Conference Info?
Check out our new website - accountingconferences.com

Limited edition shirts, stickers, and other necessities

TeePublic Store: http://cloudacctpod.link/merch

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Transcript

ADP has your back with Accountant Connect. Their award-winning multi-client payroll management and analytics platform is a remarkably effective tool for adding value to every client engagement. Stay tuned to hear more from our sponsor, ADP Accountant Connect, later in the episode.

Blake Oliver: [00:00:20] One of the questions I had immediately was where did all the money go? What happened to the $100 million? Because there's no way, with 100 employees, that they burned through $100 million in a year. Not possible.

David Leary: [00:00:32] That's a lot of money, but they got 1,000 clients. That's $100,000 per client. I texted somebody who is a leader at a Top-100 accounting firm, and I said, "Hey, can I buy your firm for $100 million?" I...
1 hr
June 23, 2020PPP loans over $150,000 to be made public
Sponsors
Bill.com: https://cloudaccountingpodcast.promo/bill
Synder: https://cloudaccountingpodcast.promo/synder
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Show Notes
06:22 – U.S. Treasury, SBA to disclose names of most businesses taking PPP loans - CNBC
08:06 – Members of Congress took small-business loans — and the full extent is unknown - POLITICO
08:21 – More on Rubio's flip-flopping record from last week's episode
11:19 – Charter Schools, Some With Billionaire Benefactors, Tap Coronavirus Relief - The New York Times
12:54 – SBA and Treasury streamline PPP loan forgiveness applications – Accounting Today
14:30 – PPP Small-Business Loans Left Behind Many of America’s Neediest Firms - WSJ
18:28 – SBA launches tool to match underserved borrowers with PPP lenders - Journal of Accountancy
20:21 – IRS employees are returning to offices amid coronavirus – Accounting Today
22:10 – Tax Court Will Zoom into Your Living Room - AccountingWEB
22:23 – IRS urged to pursue preparers with overdue returns, debts and penalties – Accounting Today
25:23 – Toronto accounting firm hit by ransomware – IT World Canada
26:50 – Only 1/3 of Small Businesses Inform Employees of Personal Device Security Requirements – Small Business Trends
28:37 – Behind the Fall of China’s Luckin Coffee: a Network of Fake Buyers and a Fictitious Employee - WSJ
33:26 – Wirecard CEO Resigns After Banks Say Missing $2 Billion Doesn’t Exist - WSJ
40:04 – Receipt Bank acquires data quality specialist Xavier – Accounting Today
43:03 – Rewind Introduces Client Data Transfer Tool for QuickBooks Online – AccountingWEB
45:23 – Botkeeper raises $25 million to automate accounting tasks - VentureBeat

Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

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Transcript

Clients are looking for trusted advice and a sense of stability as they navigate the new normal, and by using Bill.com, accounting firms can free up more time for valuable strategic advisory services by helping clients shift their accounts-payable process online. Stay tuned to hear more from our sponsor, Bill.com, later in the episode.

Blake Oliver: [00:00:23] So, the chief executive and chief technology officer of Wirecard is Markus Braun, who, the Wall Street Journal notes, is known for his tall ... He's tall, and known for his intense manner of speaking, and adopted the sartorial style of the tech world, wearing black turtlenecks similar to Apple Inc. founder, Steve Jobs.

David Leary: [00:00:44] Oh, and the blood girl ...

Blake Oliver: [00:00:44] Yeah, you remember- Theranos ...

David Leary: [00:00:47] Theranos, yeah. Elizabeth Holmes.

Blake Oliver: [00:00:51] Yes, she also did the same thi...
51 min
June 16, 2020Wave Makes Waves by Becoming a Bank
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Show Notes
05:06 – Wave expands into banking with new small business account and debit card - BetaKit
Wave Money is a new no fee bookkeeping solution aimed at small business users - TechRadar
07:39 – QuickBooks Online new features and improvements - March 2020 - Firm of the Future
09:05 – Banking App Lili Raises $10M In Seed Funding - PYMNTS.com
09:29 – Challenger bank Varo, soon to become a real bank, raises $241M Series D – TechCrunch
09:36 – Wise locks down $5.7 million to scale its challenger bank designed for small businesses – TechCrunch
11:43 – Square: Why Its Stock Is Soaring And How It’s Threatening Banks - Forbes
12:50 – Hit by Coronavirus—and a 30% Holdback by the Payment Processor – Wall Street Journal
17:23 – Alibaba.com moves into SMB financing – Bank Innovation
20:23 – QuickBooks Online new features and improvements - March 2020 - Firm of the Future
QuickBooks boosts reports for accountants, upgrades Enterprise edition – Accounting Today
22:28 – QuickBooks Connect 2020 was cancelled, but continue to watch this space because something new and exciting is coming – Intuit QuickBooks.
25:13 – FreshBooks launches Accounting Professionals Program – Accounting Today
30:22 – Tax1099 Builds Integration with BQE Core to Streamline 1099 eFilings – Yahoo! Finance
32:39 – CalCPA CEO pledges change in wake of George Floyd killing - Accounting Today
42:21 – SBA and Treasury Announce New and Revised Guidance Regarding the Paycheck Protection Program - PR Newswire
44:40 – Rubio vowed to make PPP loans public. Now he asks if they are trade secrets – The Sun Sentinel
46:17 – Mnuchin secrecy on bailout sparks rift with Congress – POLITICO
50:22 – Harris, Porter Blast Trump Administration for Hiding Data on Small Business Grants - KAMALA D. HARRIS U.S. Senator for California
50:57 – Senate Democrats press for simplified Paycheck Protection Program loan forgiveness application - Washington Post
51:39 – The Paycheck Protection Program is a success, except for one big issue – The Washington Times
53:00 – Paycheck Protection Program – Developments You Should Know – The National Law Review
54:50 – Fed expands Main Street program to allow for both smaller and bigger loans - CNBC
55:44 – Federal Help Could Be Coming For Looted Stores - PYMNTS.com

Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040
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1 hr
June 08, 2020Is the U.S. Tax Code Racist?
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Show Notes
06:15 - What Impact Did the TCJA Have on Homeowners? - AccountingWEB
06:57 - Racial Disparities and the Income Tax System – Tax Policy Center
09:07 - [OC] People Killed by Police Forces (Annual rate per 10 million people) - Reddit
11:28 - Police Unions And Civilian Deaths - NPR
12:41 - The Illusion of Race-Neutral Tax Policy - ITEP
13:41 - Executive at top U.S. accounting firm details plan to combat racism, says workers 'want action' - CNBC
15:38 - Fifty Years, Little Progress for Black Accountants – Bloomberg Tax
16:49 - Accounting profession responds to George Floyd killing and anti-racism protests – Accounting Today
19:21 - Economic Reports and Issues – NAACP
21:20 - PPP forgiveness changes coming as Senate passes House bill – Journal of Accountancy
26:48 - Banking Groups Call For PPP Loan Forgiveness - PYMNTS.com
28:21 - Is It Easier to Ask for Forgiveness Than Permission? Not for PPP Loans Under $150K AQN Strategies
29:06 - Dear Senate: Just forgive the Paycheck Protection Program loans – The Hill
29:38 - What to Make of the Rebound in the U.S. Jobs Report - NYTimes
32:10 - Accountants see pandemic over by year's end; recovery will take longer – Accounting Today
33:31 - How SMB Accounting and Finance Teams are Responding to COVID-19 – Intuitive Accountant
35:26 - Accounting group CPA victimized by cyberattack, some data on 329,000 people stolen - CBC News
37:06 - Exclusive: U.S. small business program handed out virus aid to many borrowers twice - Reuters
39:31 - Zoom Crushes Estimates With ‘Incredible’ Quarter – CFO.com
40:19 - Microsoft Just Dealt A Striking New Blow To Zoom With This Crucial Feature – Forbes
43:30 - Lenovo Chromebook Duet (10.1") 2 in 1 - Lenovo
45:52 - Top three ways to get the most out of Microsoft Teams for your small business – OnMSFT.com
47:21 - Latest product news: May 2020 - Xero
51:16 - Xero Financial Web
52:01 - Xero delays price hike indefinitely amid COVID-19 fallout for SME customers - SmartCompany
53:09 - Intuit QuickBooks expands Australian offering – Accountants Daily

Get in Touch

Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

Need Accounting Conference Info?
Check out our new website - accountingconferences.com
Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch
Subscribe
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Google Play: http://cloudacctpod.link/GooglePlay
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Overcast: http://cloudacctpod.link/Overcast

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56 min

About The Accounting Podcast

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The most authoritative voice in accounting news. Every week, Blake Oliver and David Leary break down the stories reshaping the profession — AI, the Big Four, firm M&A, audit failures, and the…