Kurt Kunselman, AccountingSuite sits down with Bob Scott, executive editor, The Progressive Accountant to discuss the company’s cloud accounting and inventory product. The new product offers start-ups and growing businesses multiple inventory options that range from handling consignment to simple and sub assembly to waste and residuals. Kunselman also explains how the “all in one” offering eliminates the need for costly add-ons, allowing companies to grow to $20 million.

Declines in option and stock awards held down executive compensation at Paychex for the year ended May 31. The totals at the payroll provider rose slightly for two of the executives while those for two others fell by single digits with CEO Martin Mucci seeing his compensation to $5.9 million, a decline of 1.6 percent from slightly more than $6 million for fiscal 2014.

Five partners in BDO USA have been charged with dismissing red flags before issuing unqualified audit opinions. The firm was accused with issuing a five-page letter demanding an audit committee investigation of the 2009 and 2010 financial statements of General Employment Enterprises but then withdrawing the letter without explanation a few days later. Four of the five agreed to be suspended from practicing public accounting for varying periods. All received money penalties.