https://trustedcfosolutions.com/feed/

JULY 22, 2022

Multi-location and multi-entity businesses face unique problems when it comes to accounting. Some of the most common issues these businesses face include manual entry errors, decentralized payables, different currencies, inter-entity transactions, and taxation by location and country. Specialized needs by industry are no problem.

Accounting 113

Accounting Currencies Construction Compliance 113

CFO Talks

APRIL 5, 2023

Written by Leigh Schaler In a recent interview on the CFOTalks podcast, Zebediah Marewangepo a Senior Business Consultant at Taxdirect, shared his insights on the accounting profession in Zimbabwe and South Africa. but somewhere along the line I ended up doing accountancy and I then finished college in 1994.

Accounting 94

Accounting Problem Solving Compliance Communication 94

PYMNTS

JUNE 8, 2020

United Nations global blockchain expert Massimo Buonomo has foreseen a future where digital currencies could replace low-interest bank accounts, Coindesk reports. In addition, Buonomo said digital currencies, especially central bank digital currencies (CBDC) may eventually be able to replace all bank accounts.

Accounting 135

Accounting Banking Currencies Securities 135

https://trustedcfosolutions.com/feed/

JUNE 14, 2022

Cloud-based Accounting Solutions deliver the deepest and broadest accounting capabilities across the board, from payroll and HR to inventory tracking, tax filings, and currency conversions across multiple industries, designed to scale your organization and accelerate your business success. Real-time dashboards and reporting.

Accounting 98

Accounting Compliance Currencies Securities 98

PYMNTS

MAY 21, 2020

The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. Patent and Trademark Office that would create a digital currency underpinned by blockchain technology. A central entity may implement a monetary policy and issue currency.

Currencies 97

Currencies Banking Retail Accounting 97

PYMNTS

JUNE 17, 2020

A growing number of nations are looking to develop digital versions of their currencies, and now there might be regional initiatives taking shape to target the U.S. The publication said China would back the new digital currency with a basket consisting of the Chinese yuan, Japanese yen, Hong Kong dollar and the South Korean won.

Currencies 89

Currencies Banking Accounting Numbers 89

Future CFO

OCTOBER 17, 2023

The China Securities Regulatory Commission (CSRC) ordered domestic brokerages’ overseas units to stop opening new stock accounts for onshore investors to stem capital outflows that have pushed the yuan to a 16-year low. The post Chinese securities regulator stops brokerages from opening overseas accounts appeared first on FutureCFO.

Securities 52

Securities Accounting Currencies Banking 52

CFO News

MAY 18, 2023

The Finance Ministry has clarified that foreign currency payments such as digital subscriptions to publications or goods bought on foreign ecommerce sites through international credit cards will count towards an individual's Liberalized Remittance Scheme (LRS) account and attract 20% tax collected at source (TCS).

Currencies 52

Currencies eCommerce Finance Accounting 52

PYMNTS

JUNE 10, 2020

The Bank of Ghana continues to consider the creation of a digital currency, GhanaWeb reported. In other news, authorities have purportedly frozen approximately 4,000 bank accounts in China belonging to digital currency traders, Cointelegraph reported.

Currencies 53

Currencies Accounting Banking Retail 53

PYMNTS

FEBRUARY 21, 2020

Sweden’s Riksbank is assessing e-krona, a new form of digital currency that hopes to take the country a step closer to the creation of the world’s first central bank digital currency (CBDC), according to reports on Thursday (Feb. Cash accounts for 20 percent of merchant transactions.

Currencies 105

Currencies Banking Math Economics 105

PYMNTS

FEBRUARY 20, 2020

FinTech Paysend is introducing Global Account, its international, fee-free mobile money account with a multi-currency wallet, to European users, the company announced on Thursday (Feb. The Global Account offering aims to save people as much as £2 billion in currency conversions when buying abroad.

Currencies 75

Currencies Accounting Investments Marketing 75

PYMNTS

JULY 1, 2019

The government in Zimbabwe has said it will allow citizens of the country to withdraw amounts up to $1,000 from foreign currency accounts, in a move to help while the country shifts to new currency to fight rampant hyperinflation and unemployment. billion in non-Zimbabwe currency in the bank’s accounts.

Currencies 46

Currencies Accounting Economics Banking 46

PYMNTS

APRIL 14, 2020

One of China’s state-owned banks has a mobile test app that supports the country’s central bank digital currency, according to a CoinDesk report. Testing the app is a sign the giant lender is working to launch the development and deployment work of rolling out the nation’s digital currency, the report said.

Currencies 79

Currencies Banking Accounting 79

Future CFO

SEPTEMBER 13, 2023

BlackLine said it has announced the first AI-enabled intercompany accounting capabilities. It highlights high-risk transactions, explains risk factors, shows accounting teams where immediate corrections are possible, and provides guidance for future transactions, the firm added.

Accounting 52

Accounting Reconciliations Invoicing Currencies 52

CFO News

MAY 22, 2023

The RBI chief said that Rs 2,000 currency notes accounted for just 10.8% of the total currency in circulation, and emphasised that the impact of the move on the economy will be "very very marginal" since the country’s currency management system is highly robust.

Currencies 52

Currencies Accounting 52

PYMNTS

JANUARY 20, 2020

Add Australia to the list of countries with central banks looking to bring fiat currencies into the digital realm — with some conditions attached. A CBDC would be denominated in the sovereign currency, and convertible at par with other forms of money.”. The language is interesting — and noteworthy. The Rewards. And Risks.

Currencies 87

Currencies Retail Banking Financial Systems 87

PYMNTS

DECEMBER 26, 2019

The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release. The intent is to start a fully-fledged central bank digital currency (CBDC). 27) in Exuma.

Currencies 83

Currencies Banking Retail Accounting 83

https://trustedcfosolutions.com/feed/

FEBRUARY 3, 2023

Accounting is one area that multi-entity businesses should approach differently than those with singular locations. Their financial operations are more complex, as each location or brand’s transactions, currency, and decentralized payables need to be accessible to the parent company. What is Sage Intacct?

Accounting 52

Accounting Currencies Financial Reporting Banking 52

CFO Leadership

FEBRUARY 16, 2022

In a world where currencies are volatile and their movements hard to predict, profits can be wiped out in the blink of an eye. Price disclosure is less thorough than for exchange-traded assets, and liquidity in many currencies can fluctuate significantly, exacerbating the already high levels of volatility in the market.

Risk Management 52

Risk Management Currencies Foreign Exchange Valuation 52

Future CFO

DECEMBER 16, 2021

CFOs must be aware of cases and risks of digital currencies as 20% of large organisations will use them by 2024, said Gartner recently. Gartner recommends that organisations first clarify specific use cases for digital currencies before evaluating appropriate IT stacks to incorporate them within the enterprise.

Currencies 52

Currencies Auditing CFO Leverage 52

PYMNTS

SEPTEMBER 21, 2020

As China prepares to debut digital currency, JD.com Inc., CoinTelegraph.com reported the retailer has entered into a partnership with the Digital Currency Research Institute of the People’s Bank of China (PBoC). The idea is for the corporation and the central bank to craft wallets that support China’s digital currency.

Currencies 56

Currencies Banking eCommerce Planning 56

Future CFO

OCTOBER 17, 2021

A September 2021 survey of 251 CFOs and other finance leaders revealed that 47% intend to assess digital currencies for business in 2022, said Gartner recently. Sentiment towards digital currencies appears to be improving among finance leaders,” said Alexander Bant, Chief of Research in the Gartner Finance practice.

Currencies 52

Currencies Finance Planning Auditing 52

PYMNTS

OCTOBER 9, 2020

In terms of collaboration, as noted in this space, the Federal Reserve is working in collaboration with seven other central banks and the Bank for International Settlements (BIS) to bring together a framework that would smooth the path to digital currency issuance. The Federal Reserve Bank has been exploring a digital currency.

Currencies 70

Currencies Banking Retail Securities 70

PYMNTS

MAY 29, 2019

A European Central Bank ( ECB ) official is throwing his support towards wholesale central bank digital currencies (CBDCs). This is something fundamentally different from the current system in which the central bank debits and credits the accounts without transferring actual values.”.

Currencies 76

Currencies Banking Retail Accounting 76

PYMNTS

MAY 29, 2019

trading partners, only nine need further scrutiny because of their currency practices. Reuters reported that the account surplus threshold is now 2 percent of GDP, down from 3 percent. Reuters noted that report in October didn’t name China or any trading partner as a currency manipulator. trade deficit.

Currencies 75

Currencies Treasury Accounting Banking 75

PYMNTS

AUGUST 2, 2019

To let consumers spend the value of their digital currency, instant crypto loan company Nexo is rolling out a cryptocurrency credit card that is Mastercard-branded. According to the company’s website , “Your Loan limit is based on the market value of the crypto assets in your Nexo Account. dollar, the British coin and the Euro.

Currencies 70

Currencies Accounting Planning Marketing 70

PYMNTS

JANUARY 21, 2019

A new report has revealed that Fortnite’s in-game currency is being used to launder money from stolen credit cards. According to a report by The Independent and cybersecurity firm Sixgill , a hacker will access someone else’s credit card information, and then use it to create a Fortnite account and buy V-bucks, which is the game’s currency.

Currencies 84

Currencies Securities Accounting 84

PYMNTS

MAY 27, 2020

The movement toward digital currencies may be a bit of an arms race of sorts, for now. As noted in this space last week, about 80 percent of 66 central banks queried by the Bank of International Settlements (BIS) are working on central bank digital currencies (CBDC).

Currencies 57

Currencies Banking Retail Accounting 57

PYMNTS

JANUARY 24, 2021

Business software maker Cygnet Infotech has updated its FACE ( Financial Accounting Comprehensive and Easy ) accounting software platform, according to a published report. The new version supports accounting for multiple companies working in multiple currencies, among other aspects, the report stated.

Accounting 71

Accounting Compliance Invoicing Currencies 71

PYMNTS

SEPTEMBER 28, 2018

To allow ATM operators and acquirers to use Dynamic Currency Conversion (DCC) around the world, Visa is growing its Visa/Plus ATM services and updating its rules. The changes will become effective in mid-April of next year, Vending Times reported.

Currencies 74

Currencies CFO Numbers Accounting 74

PYMNTS

DECEMBER 3, 2020

Today in B2B payments, Visa embraces the USDC digital currency for corporate payments. Plus, Basware enhances its accounts payable (AP) offering, CardUp eases commercial card adoption, Kofax adds new AP features and the Federal Reserve eyes bank lending. Visa Teams With Circle on USDC Digital Currency Corporate Card.

Currencies 60

Currencies B2B Accounts Payable Invoicing 60

PYMNTS

JANUARY 18, 2021

March 17, 2021, is the last day users can request an account payout, the note stated. dollar will remain strong on the international stage and won’t be surpassed by bitcoin anytime soon, although it could be a veritable reserve currency, CoinDesk reported. How am I supposed to run a lawful business if I can’t get a bank account?”

Currencies 63

Currencies Accounting Banking Numbers 63

Future CFO

MAY 10, 2021

Alibaba affiliate Ant Group is participating in China’s digital currency trial, according to a report by China Securities Journal. MYbank — an online bank in which Ant has a 30% stake — allows some users to link their accounts with China’s digital yuan app, the media report says.

Currencies 40

Currencies Banking Securities Accounting 40

Future CFO

MAY 26, 2022

According to Victor Ng , regional vice president for Asia, BlackLine , intercompany accounting involves the recording of financial transactions between different legal entities within the same private company. To Ng, the most common red flag is unreconciled intercompany accounts. What is intercompany accounting?

Mergers and Acquisitions (M&A) 98

Mergers and Acquisitions (M&A) Accounting Foreign Exchange Compliance 98

PYMNTS

DECEMBER 4, 2019

4), with separate reports noting that the collaboration aims to deploy a digital currency for B2B payments. Citing The Japan News, reports said MUFG and Recruit are working together to develop a digital currency that would first be tested for smartphone consumer payments, with plans to expand the technology into B2B payments use cases.

Currencies 52

Currencies B2B Banking Economics 52

PYMNTS

SEPTEMBER 21, 2020

The Office of the Comptroller of the Currency (OCC) released a letter that explained the authority of federal savings associations and national banks to keep “reserves” for clients who are issuers of stablecoins in some cases, according to a Monday (Sept. Acting Comptroller of the Currency Brian P. 21) press release.

Currencies 68

Currencies Banking Education Accounting 68

PYMNTS

JULY 10, 2019

The European Central Bank (ECB) opened up about cryptocurrency and said it wouldn’t recognize it as an actual currency, according to reports. Bitcoin is not a currency, it rather is an asset and it is very volatile,” Central Bank officials wrote, quoting Chief Economist Philip Lane. The company debuted the card in the U.K.

Currencies 61

Currencies Banking Investments Accounting 61