Tuesday, October 21, 2014
Tom Pullar Strecker for Stuff.co.nz writes: Xero is declining to comment on a report that planning for its United States listing has progressed to the stage where it is now in discussions with investment banks.
The Australian Financial Review reported Xero was working with Morgan Stanley and was in talks with Credit Suisse over its proposed US initial public offering (IPO), which it expected would be worth between $500 million and $1b. The report did not specify the currency or whether that might represent new capital, the sale of shares by Xero's existing investors, or a combination.
Xero spokeswoman Janna Wilkinson said Xero would make no further comment on the report other than that it would "consider listing in the US when the time is deemed right".
Xero chief executive Rod Drury is travelling to New York this week. He signalled at the company's annual meeting in July that Xero was likely to float in the US next year.
He told shareholders the company needed to surpass US$100m in annualised monthly revenues before it undertook the IPO, a milestone it has since achieved.
Xero shares were up 1.3 per cent at $16.10 in morning trading on the NZX. The company's market value dipped below $2 billion for the first time 16 months yesterday, when its shares touched an intraday low of $15.
The speculation over Xero's listing plans came as Bain Capital prepared its Australian accounting software business, MYOB, for sale.
Bain is taking sale pitches from investment bankers this week, for a deal which could happen in the first half of the 2015 calendar year.
It is understood Bain has asked Deutsche Bank, Morgan Stanley, Macquarie Capital, Citi, Goldman Sachs, UBS and Bank of America Merrill Lynch to pitch.
Ken Berry for CPA Practice Advisor writes: The end of the year often turns into “harvest time” for tax-savvy investors. By harvesting either capital gains or capital losses from securities transactions, depending on their situation, they can reap tax rewards when they file their returns. However, recent changes in the tax landscape may affect year-end decisions.
Here’s the lay of the land: All other things being equal, you can use capital gains and losses realized at year-end to cancel each other out, either eliminating or reducing tax liability. Traditionally, investors have looked to harvest losses to offset prior gains in the year. As a bonus, a loss in excess of gains offsets up to $3,000 of ordinary income, which is currently taxed at rates up to 39.6%, before being carried over to the next year.
But now there’s a greater emphasis on harvesting long-term capital gains. Short-term gains from transactions involving securities held a year or less are taxed at ordinary income rates. Conversely, long-term gains from sales of securities held longer than one year are taxed at a maximum rate of only 15% for most investors, and 20% for investors in the top ordinary income tax bracket.Even better: Long-term gains are taxed at a 0% rate to the extent that income falls in the lowest two ordinary income tax brackets of 10% and 15%. This opens up more planning opportunities for low-bracket investors or those who are showing a smaller-than-usual income this year due to circumstances like a large business loss.[snip] - the article continues @ CPA Practice Advisor - click here to continue reading....
Charlie Russell for The Sleeter Group writes: Today Intuit introduced a major overhaul of QuickBooks Online Accountant, the tool that accounting professionals and QuickBooks ProAdvisors use to work with their QuickBooks Online clients, as well as to manage their own practice. I haven’t had my hands on this yet, so the information provided here is based on demonstrations that I’ve seen, as well as material provided by Intuit. I will be digging into the details in the future when I get my hands on this.
Intuit plans on rolling this out to the public in December 2014 on a limited basis, with a full “global rollout” sometime in 2015. Note also that some of the features that we talk about here might not be available in until later in 2015.
Out with the Old, In with the New QuickBooks Online Accountant
Intuit says that this is a new product “built from the ground up” rather than just an enhancement to the existing QuickBooks Online Accountant product. However, a lot of this will be familiar as it builds on the “Harmony” platform that we’ve been working with for awhile now. [snip]. The article continues @ The Sleeter Group, click here to continue reading....
New Quickbooks Online Accountant, Click to view the video.
NEW! Client DashboardSee exactly what you need to do today. Complete tasks with just a few clicks. The customizable Client Dashboard is the core of your new QuickBooks Online Accountant, helping you plan your day, shrink your to-do list, and stay on top of bookkeeping and payroll.
NEW! Accountant ToolboxThe moment you need it, there it is. The Accountant Toolbox gives you one-click access to seven of your most-used tools. Even when you're switching between clients' books, your tools are always in the same location—saving you time and keeping you focused.
Built-in! QuickBooks ProAdvisor ProgramThe best accounting program is now integrated directly into QuickBooks Online Accountant—and it's free! Access in-depth training, grow your expertise with certification, increase your exposure with an online listing, and more—all in one place!
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NEW! Firm roles and permissionsEfficiently manage your employees' workload by controlling which firms and clients' books they can work on. With three access levels to choose from, you can be sure employees have the access they need, helping them deliver faster client service.
NEW! Free Payroll for Your FirmYour QuickBooks Online Accountant subscription comes with a free subscription to QuickBooks Online Plus for your own firm. And soon, that subscription will include free Payroll to manage your firm's books and pay employees.
Vend, a global cloud-based point-of-sale (POS) software provider, today announced at the QuickBooks Connect Small Business Conference several critical feature updates to Vend’s integration with QuickBooks Online (QBO). These new features include the ability to automatically sync additional sales information from Vend to QBO, including daily register totals by product type as well as cost of goods sold. With this additional data, accountants and retailers get a clear picture of their businesses and can then identify opportunities to grow.
“The updates to our integration with QuickBooks Online will be great for Vend and QBO customers who want an immediate overview of their store’s profitability and sales on a daily basis,” said Vaughan Rowsell, CEO of Vend. “This is one more example of how Vend is helping business owners gather valuable data via the cloud.”
Accountants and retailers using Vend and QBO can now enjoy the following benefits:
- Vend product types synchronize with QBO products and services to break down each QBO sales invoice by product category;
- QBO products and services map to one or more Vend product types;
- Journal entries with cost of goods sold data automatically post with each register closure;
- Profit / loss reporting is immediately available in QBO based on sales and COGS information.
“I love that Vend integrates with QuickBooks Online - and what an integration it is! This is what ProAdvisors have been waiting for. Vend is packed with robust features for great retail management,” said Jo King, QuickBooks ProAdvisor.
“Using Vend with QBO saves me a lot of time because I don’t have to worry about number crunching,” said Cristian Farfan of Wireless Tech Shop. “We used to do everything manually, but with the new QBO integration, major parts of our accounting have become nearly automatic.”
In June 2014 at Scaling New Heights in San Antonio, TX, Vend announced that it became the first point-of-sale provider to integrate with QuickBooks Online through Apps.com, one of the largest and most diverse small business apps marketplaces.
The updates to Vend’s integration with QBO are available immediately to retailers in the United States.
Vend provides cloud-based point-of-sale and retail management software that powers omni-channel commerce for SMB retailers. Vend’s software includes inventory management, customer loyalty, and analytics. Vend also integrates with payments, accounting, and other business applications. Vend is trusted by retailers in over 140 countries and is used in more than 12,000 stores worldwide. Founded in 2010, Vend has offices in Auckland, Melbourne, San Francisco, Toronto, London and Berlin, and has raised more than $30 million from top-tier investors. For more information, please visit: http://www.vendhq.com.
Employee scheduling software company When I Work, Inc. is introducing a new partnership with QuickBooks that makes tracking time and attendance for payroll processing easier than ever.
On Tuesday October 21, When I Work, Inc. will officially launch a new integration with QuickBooks. With the new integration in place, customers using When I Work will now be able to seamlessly sync the total amount of hours tracked using the app for a particular pay period with their QuickBooks account for faster payroll processing.
Similarly, QuickBook users can now sign up and use When I Work for better time tracking and attendance, and faster, easier employee scheduling at their businesses.
“We couldn’t be more excited about the new integration we’ve built with QuickBooks,” said Chad Halvorson, Founder & CEO of When I Work. “We know that over 3 million small businesses use QuickBooks to process payroll—including many of our customers. Our goal as a company has always been to make things easier for the small business owner who’s constantly keeping all the plates spinning. I believe this new integration aligns perfectly with that goal.”
QuickBooks users can sign up to use When I Work for tracking time and attendance by going to wheniwork.com and registering using their QuickBook login credentials.
Users can also login by searching for When I Work on the Intuit App Marketplace, apps.com.
The new integration will officially go live and be available to users on Tuesday, October 21, 2014.
When I Work is the easiest way to schedule and communicate with your employees. Nearly half a million people in over 50 countries rely on When I Work for employee scheduling, time clock and communication. When I Work uses an innovative blend of collaborative communication technologies, including the web, mobile apps, text messaging, social media, and email, to make teams more efficient, more accountable, and better prepared. Most traditional workforce management software is clunky, cumbersome and difficult to install and maintain. When I Work is a simple, intuitive, mobile-first solution that owners and managers can implement and start using in five minutes, not five months—no IT required.
Tax1099.com, Powered by TechAtlantis, Inc., Announced Its Availability on the Intuit Apps Center; Using Cloud-Based Software to Allow QuickBooks Users to Sync 1099-MISC Date for E-File Purposes, Tax1099.com Is the First 1099 Form Provider Not Owned by Intuit to Launch on the App Center
Financial Statement Masters (FSM) is introducing Excel FSM Version 2.2, a unique software solution for preparing customized financial statements, at QB Connect, being presented by Intuit. Excel FSM supports QuickBooks software, providing Excel with direct access to trial balance data from QuickBooks. Version 2.2 now supports QuickBooks Online Products, as well as Excel 64-bit.
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