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Last week in accounting May 19-23, 2025
News

Retail pressure, AI advancements, and a blueprint for firm growth

Welcome to our weekly digest—a space to reflect on where the accounting profession is headed and how it’s evolving in real time. Each week, we bring you a curated roundup of recent headlines, ideas, and innovations shaping the future of the industry.

From emerging technologies and shifting talent pipelines, to strategic mergers and evolving client expectations, the profession is in motion. Our goal is to surface stories that matter—whether you’re leading a firm, advising clients, or just ruminating about what comes next.

In last week’s issue, we explored global talent trends, a groundbreaking alternative CPA licensure path, and Armanino’s expansion into Utah. This week, we’re covering various topics, including questions around retail accounting to fresh AI-powered tools reshaping firm workflows. You’ll also find insights on how leaders can strategically leverage assets for growth, plus notable firm expansions across the US. Whether you’re guiding your team, serving clients, or simply staying curious, these are the stories worth your time.

Let’s dive in.

🔍 Top headlines

CFOs double down on ERP and AI investments

At the 2025 Gartner CFO & Finance Executive Conference, finance leaders made one thing clear: enterprise resource planning (ERP) and artificial intelligence (AI) are no longer just operational upgrades—they’re essential for driving growth and resilience. Gartner’s Alexander Bant highlighted how CFOs are leveraging more modular ERP solutions to unify processes, and deploying AI to improve forecasting, automate repetitive tasks, and deliver sharper insights.

For accounting firms, this signals a rising client expectation for technology-enabled guidance, not just transactional services. Firms that can help clients integrate, interpret, and act on data will be better positioned to deliver value. But the challenge isn’t just about buying tools; it’s about embedding them meaningfully into workflows to support smarter, faster decision-making. In an uncertain market, the firms that can help translate tech investments into strategic advantage will stand out.


Walmart’s RIM accounting spotlight raises pricing questions

Walmart’s recent warning about higher prices—driven largely by shifting tariffs—has put a spotlight on the retail inventory method (RIM), a common but often misunderstood accounting approach. RIM lets retailers estimate inventory costs based on retail prices, which can streamline accounting and also introduces volatility. As Fortune reports, in times of rapid cost changes—such as  those caused by new tariffs—RIM can distort gross margins, complicating profit forecasting and price-setting.

For businesses and advisors navigating tight margins and shifting consumer expectations, this is a timely reminder: accounting methods like RIM aren’t just technical choices. They can have ripple effects across operational strategy, financial reporting, and long-term resilience—especially in today’s volatile economic environment.


Finance professionals turn to AI and analytics for smarter cost management

A recent Deloitte and Institute of Management Accountants survey reveals that 53% of finance professionals have integrated, or plan to integrate, technologies such as AI, blockchain, or advanced analytics into their cost and profitability management models. Despite this, spreadsheets remain the most widely used tool for performance modelling, with nearly 30% of respondents relying on them. The survey also indicates that 19% of professionals anticipate emerging technologies will automate routine tasks and processes, while 18% foresee a shift toward real-time data analysis and predictive analytics models. Furthermore, 54% of respondents highlighted the need to enhance the transparency of cost and profitability reporting within their organizations.

This data highlights the growing recognition among finance professionals that integrating advanced technologies into their workflows is a crucial step toward enhancing cost management and improving reporting transparency. As businesses strive for greater efficiency and accuracy in their financial operations, embracing these technologies will be crucial for staying competitive and meeting evolving stakeholder expectations.

💻 Technology & innovation

Grant Thornton pairs humans with AI agents

Grant Thornton launched a new generative AI platform, GTAssist, designed to connect professionals with intelligent agents that support internal operations. Built using Microsoft Azure OpenAI technology, the tool helps streamline repetitive tasks, surface firm-specific knowledge, and enhance productivity across teams. Rather than replacing jobs, GTAssist is aimed at amplifying human expertise—freeing staff to focus on strategic, high-value work. As firms grapple with resource constraints and rising client expectations, this kind of AI-enabled collaboration is redefining how professional services teams operate and deliver value.


QuickBooks launches agentic AI innovations

QuickBooks is rolling out a new suite of agentic AI features designed to help small businesses and their advisors automate complex workflows, surface smarter recommendations, and reduce manual workloads. This launch is part of a broader push across the accounting software landscape to deliver not just operational efficiency, but deeper, more actionable insights for end users. By embedding intelligent tools directly into client workflows, QuickBooks aims to empower firms to deliver more proactive guidance, strengthen client relationships, and keep pace with rising digital expectations in today’s fast-moving market.

🧠 Practice management

Scaling smarter with leveraged assets

In an insightful piece, Gary Boomer, CPA.CITP, CGMA at Boomer Consulting Inc., outlines how firms can achieve smarter, more agile growth by leveraging assets they don’t own. Drawing on the Exponential Organizations model, Boomer explains how tapping into shared physical spaces, digital platforms, and outsourced expertise can help firms scale quickly, reduce costs, and stay adaptable in a shifting market. This approach moves beyond traditional growth strategies focused on headcount or office space, and challenges firm leaders to rethink ownership, optimize leverage, and align resources with long-term goals.

🏢Firms & mergers

Eide Bailly expands into Washington with Tranmer Smith acquisition

Eide Bailly LLP announced the acquisition of Tranmer Smith, a Washington-based firm known for its regional expertise and client relationships. This move marks a strategic expansion into the Pacific Northwest, adding new talent and specialized capabilities to Eide Bailly’s growing portfolio. It also reflects a broader industry trend: Firms scaling through targeted mergers to deepen regional presence, strengthen service lines, and position themselves competitively in an increasingly consolidated market.


Aldridge Borden broadens presence in Alabama

Aldridge Borden is expanding its footprint across Alabama through a series of recent mergers, signaling a renewed focus on scaling its reach and service offerings statewide. The latest move enhances the firm’s ability to serve clients with more robust resources and specialized expertise, underscoring the importance of regional consolidation in a competitive accounting landscape. As client demands evolve and the market tightens, firms are increasingly looking to mergers and acquisitions as a strategic path for sustained growth.

📅 Events, podcasts & webinars 

WATCH

In the Know: Create credit memos from invoices

This episode offers a hands-on walkthrough of how to generate credit memos directly from invoices in QuickBooks—streamlining billing adjustments, improving workflow accuracy, and reducing manual rework.

LISTEN

On the Books: From theory to practice

In this episode of On the Books, Intuit explores a groundbreaking class at Utah Valley University that integrates real-world simulations into accounting education. By immersing students in real-life accounting scenarios, the course emphasizes critical thinking, problem-solving, and communication skills essential for client advisory services.

ATTEND

Power clients’ businesses, not just their books

Join Intuit’s live webinar on elevating client advisory services with advanced tools, AI-driven insights, and smart reporting features. Attendees can also earn CPE credit.

APPLY

2025 Intuit Partner Council applications now open

Applications are now open for the 2025 Intuit Partner Council—an opportunity to help shape the future of accounting tools by collaborating directly with product teams and sharing peer-driven insights.

🗣️ Quote of the week

quote image
Traditional business performance management methods are not as responsive or as precise as newer tools are at generating data and insights on drivers of cost, critical in today’s fast-paced and dynamic operating environment.
Colleen Whitmore, Controllership Partner, Deloitte & Touche LLP

The future of accounting is unfolding every day—and it’s being shaped by professionals like you who are exploring new ideas, testing what works, and finding better ways to support clients. Whether you’re growing your skill set, expanding your services, or simply staying curious about what’s next, we hope this issue gave you a few useful sparks.

We’ll be back next week with more insights, trends, and tools to help you keep moving forward—one step, one win, and one update at a time.


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