Accounting Firm FreshBooks Becomes A Unicorn

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!

Show Notes

01:30 – Blake and David talk smart homes, Zoom, and router recommendations, Mnuchin and movies. 

7:55 – Updates of PPP Forgiveness

10:02 – Survey: COVID relief, changing laws were last tax season’s headaches
 
12:20 – IRS Funding Surge Punted From Bipartisan Infrastructure Package
 
13:26 – Cryptocurrency brawl bogs down infrastructure bill, as Yellen and White House fight changes
 
18:00 – Closing date set for new Shuttered Venue Operator Grant applications
 
 
22:25 – All the Queen’s Horses Documentary on YouTube – Free
 
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 Xero
 
33:36 – Taking business banking to the next level with Revolut
 
More Reading on Xero:
 
 
Xero revamps bank recs, injects AI
 
36:43 – HR software company Gusto raises $175 million
 
Gusto Raises $175M in Series E Funding
 
38:20 – Accounting firm FreshBooks hits unicorn status, plans global growth after raising US$130-million
 
43:56 – 'Connected accounting' startup closes $13M funding round
 
Lockstep Website
 
46:36 – New IRS tax collection notices offer QR code contact option
 
47:36 – ZenBusiness Democratizes Small Business Finance With New All-Inclusive Payments App ZenBusiness Money
https://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 Technologies
 
53:13 – Announcing Check + Quickbooks Online – Check
 
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! 


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Thanks 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 Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040


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