EPISODE · Aug 19, 2021 · 59 MIN
Accounting Firm FreshBooks Becomes A Unicorn
from The Accounting Podcast · host Blake Oliver & David Leary
SponsorsFyle: https://cloudaccountingpodcast.promo/fyleAFO Wealth Management Forward: https://cloudaccountingpodcast.promo/afo Rewind: https://cloudaccountingpodcast.promo/rewindShow Notes01:30 – Blake and David talk smart homes, Zoom, and router recommendations, Mnuchin and movies. 7:55 – Updates of PPP Forgiveness10:02 – Survey: COVID relief, changing laws were last tax season’s headacheshttps://www.accountingtoday.com/news/natp-survey-covid-relief-changing-laws-were-last-tax-seasons-headaches 12:20 – IRS Funding Surge Punted From Bipartisan Infrastructure Packagehttps://www.govexec.com/workforce/2021/07/irs-funding-surge-punted-bipartisan-infrastructure-package/183873/ 13:26 – Cryptocurrency brawl bogs down infrastructure bill, as Yellen and White House fight changeshttps://www.washingtonpost.com/politics/2021/08/06/crypto-bitcoin-infrastructure-senate/ 18:00 – Closing date set for new Shuttered Venue Operator Grant applicationshttps://www.journalofaccountancy.com/news/2021/aug/shuttered-venue-operator-grant-svog-application-closing-date.html 21:04 – Former Dixon comptroller Rita Crundwell released from prison earlyhttps://www.wifr.com/2021/08/05/former-dixon-comptroller-rita-crundwell-released-prison-early/?utm_source=pocket_mylist 22:25 – All the Queen’s Horses Documentary on YouTube – Freehttps://www.youtube.com/watch?v=dpr2A3S3CNk 24:05 – Hundreds of AI tools have been built to catch covid. None of them helped.https://www.technologyreview.com/2021/07/30/1030329/machine-learning-ai-failed-covid-hospital-diagnosis-pandemic/ 31:06 – Reflecting on the evolution of bank reconciliation at Xerohttps://www.xero.com/blog/2021/08/bank-reconciliation-evolution-at-xero/ 33:36 – Taking business banking to the next level with Revoluthttps://www.xero.com/blog/2021/08/revolut-next-level-business-banking/ More Reading on Xero: Xero Upgrades Bank Reconciliation Featurehttps://www.accountingweb.com/technology/accounting-software-news/xero-upgrades-bank-reconciliation-feature Xero revamps bank recs, injects AIhttps://www.accountingtoday.com/news/xero-revamps-bank-recs-injects-ai 36:43 – HR software company Gusto raises $175 millionhttps://www.axios.com/gusto-fundraising-175-million-f2bb33ba-fced-4343-8a7b-0aa6a5d6dbbe.html Gusto Raises $175M in Series E Fundinghttps://www.finsmes.com/2021/08/gusto-raises-175m-in-series-e-funding.html 38:20 – Accounting firm FreshBooks hits unicorn status, plans global growth after raising US$130-millionhttps://financialpost.com/news/fp-street/accounting-firm-freshbooks-hits-unicorn-status-plans-global-growth-after-raising-us130-million 43:56 – 'Connected accounting' startup closes $13M funding roundhttps://www.accountingtoday.com/news/connected-accounting-startup-lockstep-closes-13m-series-a-funding-round Lockstep Websitehttps://lockstep.io/ 46:36 – New IRS tax collection notices offer QR code contact optionhttps://www.dontmesswithtaxes.com/2021/08/redesigned-irs-tax-collection-notices-now-offer-qr-code-contact-option.html 47:36 – ZenBusiness Democratizes Small Business Finance With New All-Inclusive Payments App ZenBusiness Moneyhttps://www.businesswire.com/news/home/20210810005143/en/ZenBusiness-Democratizes-Small-Business-Finance-With-New-All-Inclusive-Payments-App-ZenBusiness-Money 50:29 – US Bank to Buy Bento Technologieshttps://www.pymnts.com/news/partnerships-acquisitions/2021/us-bank-to-buy-biz-expense-management-platform-bento-technologies/ 53:13 – Announcing Check + Quickbooks Online – Checkhttps://www.checkhq.com/post/announcing-check-quickbooks-online?utm_source=pocket_mylist 53:44 – The news from you! We’ve got reviews! Thank you, Cbordeaux, Amanda from NOLA, Rachael, and Eddie Valls! 55:35 – As if reviews weren’t enough, we got voicemail! Thank you, Scott Scarano! Get in TouchThanks 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
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What this episode covers
Lots of ground to cover today, including why millions of PPP borrowers still haven't applied for forgiveness, what firms would have done differently this past tax season, news on a new infrastructure bill held up by crypto rules, and what closing date set for SVOG means. In app news, we'll examine why hundreds of AI tools developed to predict coronavirus infections failed miserably. Then in news of gigantic funding rounds, Gusto takes in a lotta cash, and FreshBooks (an accounting firm) has become a unicorn, raising $130M; Lockstep also got some cash. Moving on to upgrades, and the like, we're talking Xero, their app upgrade, and their collab with Revolut. We'll talk about how the IRS is using QR codes, take a look at the ZenBusiness Money launch, US Bank's purchase of Bento for Business, and Check's (the Stripe of payroll) new QBO integration. All that, more, and reviews from you! Thank you!
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Accounting Firm FreshBooks Becomes A Unicorn
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