Welcome to CVW News, your trusted source for the latest updates in the realms of accounting, software, and design. In this quarterly newsletter, we bring you a curated selection of valuable insights, trends, and news that matter most to professionals in these dynamic industries. Our mission is to keep you informed, inspired, and ahead of the curve, ensuring you have the knowledge you need to thrive in an ever-evolving landscape.
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Client Survey Reminder
Your trust in our services has been instrumental in our success, and we sincerely appreciate the opportunity to serve your financial needs.
To continue to meet or exceed your expectations, we invite you to share your valuable feedback through an anonymous survey. This survey is your opportunity to share your thoughts on various aspects of our services, including the financial reporting packages we provide.
This brief survey focuses on the following:
- Ease of communication and responsiveness of our team
- Accuracy and timeliness of financial reporting
- Suggestions for enhancing or adding services
We thank you in advance for your time and feedback; Your insights are instrumental in our our commitment to providing exceptional accounting services to the interior design community.
Are You Ready for AI in the Workplace?
Despite concerns about automation taking over or replacing humans, research shows artificial intelligence (AI) is most successful when coupled with a human touch. When it comes to Generative AI, such as ChatGPT, a proper workplace usage policy is crucial.
Examples of AI in the Workplace
Artificial Intelligence, or AI, refers to computers or robotics that can mimic human intelligence in various ways. These machines can range from an everyday laptop or cellphone to chatbots and computer-controlled robotics. Examples of AI in the workplace include:
Generative AI Chatbot Policy: With the increasing popularity of AI chatbots such as Google's Bard and OpenAI's ChatGPT, it has become essential for businesses to define the proper use of such tools in the workplace.
An effective AI Chatbot policy should clearly define acceptable usage (prohibited, limited, or open use) and other key elements such as manager training and source citation to ensure responsible and effective use of chatbots within a company.
Join us in prioritizing transparency, security, and ethical AI practices. Continue to protect your business and client communications by creating and implementing your own Generative AI Chatbot policy.
New Beneficial Ownership Information (BOI) Reporting Requirements
The new beneficial ownership information (BOI) reporting requirements, effective as of January 1, 2024, require that reporting companies identify and submit information regarding their beneficial owners to FinCEN. This involves disclosing individuals who directly or indirectly own or control a significant portion of the company's shares or voting rights. Compliance with these regulations is essential to ensure transparency and adherence to legal obligations.
How do I know if my company is a "reporting company"?
Who is a beneficial owner of my company?
If your company is a reporting company, your next step is to identify its beneficial owners. A beneficial owner is any individual who, directly or indirectly:
- Exercises substantial control over a reporting company (Principal, Member etc); OR
- Owns or controls at least 25% of the ownership interests of a reporting company
What information does my company need to report?
When should my company file its initial report?
How does my company file a BOI report?
If your company is required to file a BOI report, you must do so electronically through FinCEN's secure filing system: https://boiefiling.fincen.gov/
All BOI data and images were sourced from FinCEN's Small Entity Compliance Guide. Additional information and BOI reporting FAQs can be found on FinCEN's homepage: https://www.fincen.gov/boi
What's New at Studio Designer?
Coming Soon - Design Tools Features
Studio Designer's Design Tools give Designers and their teams the ability to connect and collaborate when sourcing items and inspiration for projects. This feature includes tools such as Studio Capture Inspiration, PowerPoint integration, and the Inspiration Library. Future features include:
- Adding more optional fields to Inspirations (Vendor, Sales Code, Dimensions, etc)
- Additional views for Inspiration Library
- Drag and drop Inspirations
- Tagging Inspirations
- Multiple images for Inspirations
- Google Slides and InDesign integration
Please note: Design Tools are currently only available to Studio Designer's Early Access program. If you would like to learn more about Studio's Early Access program, please contact help@studiodesigner.com.
Upcoming Office Closure Dates
Memorial Day ~ Monday, May 27th
Juneteenth ~ Wednesday, June 19th
Independence Day ~ Thursday, July 4th
Labor Day ~ Monday, September 2nd