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AcctTwo Blog

Ken West

Ken West

Recent Posts by Ken West:

5 Steps to Include in the Succession Planning Process

You have risk management processes in place for vital processes within your organization – you should also have risk management processes in place for top talent. Be prepared before chaos happens by undertaking back-office succession planning proactively. Here are the five steps to include in your succession planning process.

Topics: business continuity succession Planning General

Succession Planning Examples: How to Prevent Chaos

A proper succession plan for the back-office is often overlooked, but it gives your business a roadmap of what to do next if your organization loses a leader unexpectedly. During the interim while a permanent replacement is being found, finances may not be well-controlled, projects can lose steam, and the business may see a decline. What are some other succession planning examples that could have prevented chaos?

Topics: business continuity succession Planning General

Where Do I Start Post-COVID Recovery? A Business Continuity Plan Checklist

It has been an unprecedented year filled with highs and undeniable lows. We not only survived – we thrived. We learned what it means to truly pivot and overcome great challenges. At the same time, we celebrated every success in lockdown and learned what we are truly capable of.

Topics: business continuity General

Managed Accounting Consulting Enables Advanced Analytics

The proliferation of automation and digitization technologies over recent years has been a boon for all. Enterprises of all sizes and across all industries are replacing manual, paper-based processes with machine intelligence and robotic capabilities. These companies have achieved even more impressive benefits than many expected enabled by the adoption of managed accounting consulting.

Topics: Business Intelligence / Analytics Managed Accounting Services (MAS) General

Transitioning to Recurring Revenue Business Models

In our last COVID related article, we encouraged businesses to re-examine their business model as they emerge from the pandemic - it may not be as sound or sustainable as it was before. But it might not be as lucrative as it could be either.

Topics: General

1099 Deadline is Approaching

January 31st is the deadline for submitting 1099s to recipients. If you are a business owner, CFO, Controller or responsible for your company's accounts payable department or tax filings, you may know that 1099s are an informational return that is required to be filed with the IRS to report individual income that is not reported on a W-2 as wages, salaries or tips. There is often some confusion about the 1099 process and related rules, and the January 31st deadline sometimes sneaks up on companies.

Topics: compliance

What to Do If You Missed the 1099 Deadline

If you missed my post a couple of weeks ago about the 1099 deadline, or if you simply fell behind and didn't get all your 1099-MISCs out the door to your vendors by the January 31st deadline, don't despair. The world is still turning and life is going to go on. It's not the end of the world, and you can still get yourself in compliance relatively easily. Doing nothing because you think it's too late is not a good option, though. That can get you into trouble with the IRS.

Topics: compliance

COVID Has Made Digital Transformation Technologies Essential

“The notion of a tipping point for technology adoption or digital disruption isn’t new, but the survey data suggest that the COVID-19 crisis is a tipping point of historic proportions—and that more changes will be required as the economic and human situation evolves.”

Topics: General

Changes in the Accounting Profession and How They Affect Your Business

As the Demand for Accounting Professionals Increases, How Do You Keep Your Business Moving Forward?

AcctTwo is not just the overall Business Partner of the Year as a reseller and implementation partner for Intacct's best-in-class ERP software. We also provide Business-Process-as-a-Service (BPaaS), known to some as Finance and Accounting Outsourcing (FAO) or Business Process Outsourcing (BPO), where we take on part or all of a midsize company's finance and accounting function. As the COO at AcctTwo, I've spent a great deal of time building our BPaaS team, and I can tell you from experience that finding and keeping great accounting talent is no easy task. A quick search on the internet will tell you that it's not just my problem - it's an industry trend.

Topics: FAO bpo Outsourcing Accounting BPaaS