Local accounting-tech firm Decimal acquires cloud-based bookkeeping business from KPMG
Decimal, a software-as-a-service firm based in Indianapolis, has acquired the cloud-based bookkeeping business formerly owned by Big Four accounting firm KPMG.
Accounting
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Former church business manager sentenced to 2 years in prison
Investigators say Marie Carson illegally transferred $573,836 in church and school money into her private accounts from 2008 to 2021 and used much of the money to pay for casino gambling and an annual month-long vacation to Florida.
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Fishers bookkeeper sentenced for embezzlement after 8 years on lam
Jody Russell Trapp has been sentenced to federal prison for stealing more than $2.2 million from a Fishers company from 2009 to 2011. He fled to Utah and changed his name almost a decade ago before being recaptured.
Indiana-based ag-tech startup lands $3M in seed funding
Carmel-based Hageman Group, Indianapolis-based Allos Ventures and Indianapolis-based Elevate Ventures Inc. all participated in the funding round.
Accounting-tech firm Decimal lands $9.2M investment
Decimal’s software platform helps customers automate and outsource accounting tasks like bookkeeping and payroll. The company has added 30 employees since February.
New corporate climate change disclosures proposed by SEC
The required disclosures would include greenhouse gas emissions produced by companies directly or indirectly—such as from consumption of the company’s products, vehicles used to transport products, business travel and energy used to grow raw materials.
IRS rushes to hire 10,000 workers but giant backlog expected to persist
A government official said the IRS does not expect to resolve the backlog until the end of 2022. But it hopes the hiring surge, the largest at the IRS in decades, will galvanize a strong response to the mountain of unprocessed paperwork at the agency.
BKD CPAs & Advisors merges with North Carolina firm
BKD said its combination with Dixon Hughes Goodman will create a top 10 national professional services firm. BKD’s local office is the fourth-largest accounting firm in the Indianapolis area, according to IBJ research.
Accountant shortage puts crunch on hiring
Fewer students have been entering the accounting profession, and a salary gap between accounting and other financial professions means those accounting students might be lured to a different field.
Impending public finance retirements to worsen worker shortage
The sector that employs more than 850,000 state, county and city government workers may be on the verge of a so-called “silver tsunami,” according to the National Association of State Treasurers Foundation.
Somerset Cloud gets name change, new majority owner
The company founded as Somerset Cloud last year has a new name, majority owner and an even higher growth curve than originally projected.
Westfield council hears forensic investigators’ plan for reviewing city finances
Consultants from three different firms on Tuesday conducted a special presentation for the Westfield City Council about their investigation into the city’s finances and operations.
Indianapolis office manager lands 37-month sentence for embezzlement
A controller and office manager who worked for a local business consulting firm used the stolen funds to pay for a new Honda CRV, platinum jewelry and at least eight trips to a resort in Aruba.
Former downtown payroll firm owner gets six years for defrauding clients
David Downey, 51, who ran Time Payroll from 2009 to 2017, was ordered to pay back nearly $9 million for a scheme that defrauded clients in multiple states.
TurboTax maker Intuit buying Credit Karma in $7.1B deal
The agreement announced Monday would bring together the maker of TurboTax, QuickBooks and other personal finance tools with one focusing on consumers’ access to financial products, such as finding the right loan or credit card.
Former accounting manager accused of using embezzled funds on gambling, gaming
Investigators say the man, who made an initial court appearance Wednesday, embezzled more than $715,000 from an Indianapolis-based company in an elaborate scheme involving at least 151 unauthorized checks.
Former city controller Qaddoura takes gig at Katz Sapper & Miller
The position was created for former City of Indianapolis Controller Fady Qaddoura, who announced in November that he was leaving his job with the city, where he had worked for four years.
New year brings changes for small businesses
Among other adjustments, there are higher minimum wages for many states, new federal overtime rules and new W-4 forms.
Somerset CPAs president Early preparing to step aside
After 30 years, Patrick Early, 62, plans to hand off the role to longtime firm employee Benjamin Kimmerling.
Carmel names woman fired earlier this year as city’s first controller
Ann Bingman, director of internal controls for the Carmel Clerk-Treasurer’s Office, will become the city’s controller starting Jan. 1. Carmel Mayor Jim Brainard announced the appointment Monday.
Controller Qaddoura to leave Hogsett administration, run for state Senate
City Controller Fady Qaddoura is set to leave his job with the city at the end of the year. Part of his plans include a run for political office.