Tech News: AuditClub is now CPAClub

AuditClub has changed its named to CPAClub, and has added tax and advisory solutions; Xero now automatically calculates sales tax; and other accounting technology news and updates.

AuditClub now CPAClub, adds tax and advisory solutions

Rebrand
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AuditClub, which had offered fractional accounting services for CPA firms conducting audits, has added tax and advisory solutions to its service offerings and, reflecting this, has rebranded to CPAClub. The broader membership will offer the same concierge talent model with tax and advisory professionals to help even more CPA firms and companies meet demand amid a continuing talent crisis. In conjunction with the expansion, CPAClub also unveiled a series of enhancements including CPAClub+, an upgraded membership tier that offers extra privileges and priorities, more flexible pass options, year-round support through CPAClub Care and the release of a members-only library. A new digital portal also allows members to purchase or subscribe to passes, share files, chat, collaborate and make access reservations. The existing accounting and assurance products, along with each of the new tax and advisory verticals, will still exist as divisions under CPAClub. 

Xero now automatically calculates sales tax

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Small business platform Xero launched a new auto sales tax capability, developed in cooperation with tax solutions provider Avalara. The embedded solution brings advanced sales tax workflows and management directly into the Xero platform, enabling advisors and business owners to automate sales tax calculating, reporting and filing. Key features include guided setup; the ability to automatically calculate appropriate sales tax rates on invoices; and access to summaries of sales tax obligations, which can be further broken down by state, jurisdiction, tax exemption or by transaction. Xero customers also have the option to sign up for Avalara's automated e-filing capabilities. Xero plans to add new features and functionality to the solution over time, including more filing deadlines, expanding past invoicing to other documentation and adding other revenue sources.

AuditMiner launches Payroll Workpapers for EBP audits

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Audit automation solutions provider AuditMiner launched its Payroll Workpapers product, designed for use in employee benefit plan audits. The solution can provide a summary of all employees who received a paycheck during the year, including demographic information, wages, hours and deductions; include the demographic and service history required to determine eligibility of plan participation, as well as procedures for testing; identify compliance with IRS contribution limits for all participants; and display every paycheck during the year for all employees, includes hours codes, earnings codes and deduction codes for each. This product is now available to all customers on the online platform. 

Partnerships and integrations

Tax strategy solutions firm Corvee integrated Augusta Rule deduction filing guidelines into Instead and Instead Pro. The Augusta Rule, known as Section 280A by the Internal Revenue Service, empowers homeowners in any income bracket to rent out their homes for up to 14 days without the obligation to report the rental income as taxable on their tax return. … AP automation solutions provider Avidxchange has partnerd with M3 Accounting Solutions to provide hotels with an automated financial management solution. As part of this partnership, M3 will embed AvidXchange's payment automation technology into CoreSelect, its latest accounting offering, providing hotels with a way to manage their payments process, integrated with day-to-day hotel financial operations and reporting. … Big Four firm KPMG is using integrated reporting cloud platform Workiva to enable Corporate Sustainability Reporting Directive double materiality assessments. The collaboration comes after the two companies announced an enhanced alliance to deliver ESG-focused solutions and services and enable more consistent ESG data collection.

Other news

Audit automation solutions provider AuditMiner successfully completed the System and Organization Controls (SOC) 2 Type 1 examination for its Employee Benefit Plan Audit Automation Platform. … Compliance solutions advisor Sovos has been approved by the IRS as a Modernized e-File Business Provider for 1042 returns, in compliance with updated IRS e-filing requirements. Starting with tax year 2023 filings and beyond, financial institutions or businesses filing 10 or more information returns can no longer submit Form 1042 on paper, making e-file the only acceptable option. Sovos has launched a HUB page that further clarifies the issues and provides guidance to organizations facing this change. … Cloud service provider Rightworks has appointed Monica Sullivan as its new chief marketing officer. Leveraging her substantial experience with B2B, e-commerce and SaaS companies, Sullivan will help the company broaden its reach into the accounting profession. … Digital operations solutions provider Net at Work announced that industry leader Nancy Teixeira has joined the company as executive vice president of corporate development. In this new role, Teixeira will oversee mergers and acquisitions, as well as lend her expertise to the expansion of the Net at Work Partner Alliance Program
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