Ah, sweet summertime. The season for stress-free; the time for relaxation.
But…what’s this? Cyberattacks are putting cities on alert? Staffing crises are causing accounting firms to retool their…tools? The FTC puts the Safeguards Rule updates into effect?
It may be the time for relaxation, but there’s no chance of slowing down in sight.
For the most important things currently impacting the profession, keep reading June’s accounting news recap.
Which QuickBooks® Solution Is Right for You? Find Out.
rightnetworks.com | June 1, 2023: QuickBooks solutions aren’t “one size fits all.” Choosing between QuickBooks Enterprise, QuickBooks Pro Plus and Premier Plus and QuickBooks Online can be a slog—especially if you’re just starting out.
Enter Kristin Daley, one of our product experts here at Right Networks. Kristin knows QuickBooks like the back of her hand. In her latest post, she relays her institutional knowledge in a way that makes sense to the layman.
In other words: If I could figure out which QuickBooks option would work best for me by the end of this post—anyone can.
Read her article if you need some help deciding:
- If you should move to a QuickBooks solution.
- If you’re considering migrating from one QuickBooks solution to another.
- If you’re curious about what QuickBooks Enterprise, QuickBooks Pro Plus and Premier Plus, or QuickBooks Online are primarily designed for.
FTC Safeguards Rule: What You Need To Know
rightnetworks.com | June 2, 2023: On June 9, the updates to the FTC Safeguards Rule officially went into effect.
To avoid fines and keep customer data safe, financial institutions must have:
- Someone managing their information security program.
- A comprehensive risk assessment to identify any security gaps.
- Regular monitoring of how risks are managed and addressed.
- A lot more.
Sound familiar? Complying with the provisions is stressful, particularly for smaller-sized businesses and firms.
Read the post for a full breakdown of the FTC Safeguards Rule and for easy ways to get into compliance without losing your sanity.
How Managed Service Partners Help Secure Microsoft 365
rightnetworks.com | June 5, 2023: You may be reading this title and thinking, “Why would I need to secure my Microsoft 365? Isn’t it secure simply by being a cloud-based Microsoft product?”
Initially, that’s what I thought, too. But upon reading Molly Gallaher Boddy’s easy-to-read-yet-extremely-detailed post, I realized something: Without Microsoft, I wouldn’t be able to do my job. At all.
If I were to lose access to email, chat and files—I’d be unable to function. Many of us are in the same proverbial boat.
That’s where a managed service partner comes into play. The right managed services partner will:
- Manage your Microsoft licensing so that you don’t have to think about it.
- Offer additional security features, like backup and monitoring.
Learn what to look for when searching for a provider to manage your Microsoft 365 here.
The Most Powerful Women in Accounting
cpapracticeadvisor.com | June 6, 2023: Arianna Campbell, Tommye Barie, Kelly Mann, Jennifer Wilson—these are just a few of the women honored as the “Most Powerful Women in Accounting” at this year’s AICPA Engage conference.
The 25 women took the main stage to receive their well-deserved awards in early June in Las Vegas. We love to see it.
They’ve led the profession, are “increasingly attaining senior leadership roles” and “now hold a third of management committee roles, about double that of a decade ago.”
Read CPAPA’s article to find out how the women were selected to receive this prestigious award, and of course, to see the full list of honorees.
Get Tech-Savvy, Stay Accounting-First: Here’s How
rightnetworks.com | June 7, 2023: Technology overload. It’s a real thing.
Many of us simply ignore the latest and greatest because we’re used to what we’re already using. It’s easier to go along and get along…for as long as possible.
The problem with that? We’re missing out on a lot by not keeping up with the latest and greatest.
Believe me; I get it. I’d much rather use my spreadsheet to manage finances, but I also know that migrating to a budgeting tool would save me an immense amount of time. I’m also a Taurus who refuses to be told what to do, even when I’m the one telling myself to do it. I’m the problem. It’s me…
Oops, got off track there for a second.
This post isn’t about budgeting tools; it’s not about how to stay up-to-date with the latest and greatest technology. Simply put, it’s a post about:
- The types of technology that will make your life easier.
- How to reap the benefits of that technology without lifting a finger. (Well, maybe one.)
TL;DR: Stop wasting time on technology. Find out how, here.
Cyberattacks Targeting Cities Should Put Accounting Firms on Notice
rightnetworks.com | June 8, 2023: I can’t help but picture a Godzilla-like figure looming in the background, stalking toward your favorite city, every time I read this headline.
But honestly, the truth isn’t that far off. And while it isn’t a giant lizard-like creature threatening your safety—it’s just as dangerous, and it’s real.
In this article, Lee Pender talks about two major cyberattacks that have put all government and financial institutions on notice.
- The first: A cyberattack shut down Dallas municipal court, affecting police and fire departments.
- The second: The city of Lowell, Massachusetts had its data leaked on the dark web.
Why does this matter to you? Because your business holds tons of data that a bad actor would love to get their hands on. Successfully breaking into an accounting firm’s systems would be like getting access to hundreds of businesses’ most sensitive information at once.
Learn more about the attacks—and find out how to protect your business or firm—here.
Four Special Events Added to the 2023 IRS Nationwide Tax Forums
IRS.gov | June 12, 2023: This year’s Tax Forums, which take place in five cities across the United States, starts on July 11 in New Orleans.
And this year, the IRS is offering a new series of special events focused on:
- Practice management
- The taxpayer experience
- The National Taxpayer Advocate
Overall, there’ll be more than 40 continuing education seminars, with topics ranging from unleashing your potential to writing an information security plan. Special events are available on a first-come, first-served basis…so don’t delay signing up!
How Technology Can Help Your Firm Attract Employees
rightnetworks.com | June 15, 2023: If a prospective employee were deciding between two companies to work for, which do you think they’d choose?
- The practice working mostly in-office, using outdated, albeit tried and true, methods of communication.
- The practice working mostly remotely, using new tools, apps and software to get work done more efficiently.
I think we’d all choose number two—right?
In the age of “The Great Resignation,” fewer accounting graduates and a record number of professionals with retirement on the horizon, you must be thinking of ways to make your firm better.
In this post, learn how to use technology to make your firm so attractive to prospective employees that you won’t have trouble finding (and keeping) talent.
Accounting News: Coming in July
Be on the lookout for upcoming webinars, new eBooks and more by visiting our resource library. And watch for next month’s accounting news recap.
Expect all the noteworthy news from the accounting and finance profession right here on rightnetworks.com/blog—don’t forget to subscribe today!