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Rippling Expands EOR Program 2

 Rippling has expanded its Employer of Record program to eight new countries. The change is part of the latest monthly release of the office application.

With EOR, a user can establish a legal entity in a country outside the United States, giving the user the ability to hire and pay employees in other countries. The latest additions are Colombia, Costa Rica, Denmark, Israel, New Zealand, the Philippines, Switzerland and Turkey.

In addition, Rippling is providing hourly workers with a weekly break down of pay on paystubs so they can see hours worked, including overtime, for each of the weeks included in the pay period.

Users can now down payroll comparison data as a CSV file. Rippling says it has also provided more efficient time-entry CSV imports for Time an Attendance since users can automatically reconcile timestamps based on the employee’s timezone and

filter down to a specific set of imported entries and delete only those 

They can also import thousands of entries in seconds, versus 30 minutes.

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Bill.com Makes $535M Follow-on Offering

Bill.com’s follow-on public offering of 7 million shares at $74.53 per share will dwarf the amount the payments company raised via its initial public offering. The proceeds of $535 million top the December IPO which netted the company $225.5 million.

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Intuit Suspends Auto QBO Updates

Intuit has stopped automatically upgrading users of QuickBooks Online to the QBO Advanced edition. Alex Chriss, the EVP who manages Intuit’s small business and self-employed group, noted the move recently.

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Intuit Cancels QB Connect

Intuit has cancelled its annual conference, QuickBooks Connect. The conference website this week promises “something new and exciting is coming” but does not say anything about  the details of a likely virtual version.

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Xerocon London Cancelled

Xero followed many other conference sponsors this week in calling off Xerocon London. The decision was announced on Twitter by Gary Turner, managing director of Xero U.K. and EMEA. 

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Paychex Sees Some Business Improvement

Paychex has found its business stabilized or improved in some key areas in May. The company said recently despite the deterioration after mid-March, in the second half of April it saw some positive signs.

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Survey: Corporate Tax Hiring Plans Plummet

Plans by nearly four in ten respondents before the COVID-19 outbreak to add staff have dropped to fewer than one in ten, according to a survey, "Initial Impact of the COVID-19 Virus", by Bloomberg Tax & Accounting. The preliminary results of the annual benchmark survey of corporate tax departments also found an increase in concern about cash management.

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Xero Reports First Annual Profit

Xero reported its first-ever fiscal year net income for the year ended March 31. The roughly $2 million in earnings contrasted with a loss of about $16.2 million for fiscal 2019, the New Zealand-based company reported this week.

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Right Networks Buys Rootworks

Right Networks has acquired Rootsworks, which helps accounting firms improve their operations. Terms were not disclosed.

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Wealth Biz Write-down Cuts into Blucora Results

The virus gives and the virus takes away. Blucora saved $60 million on its original plan to pay $160 million for the purchase HK Financial Services. But the impact on the economy that caused the change in valuations that affected the purchase  price also caused the Blucora to write down $275.6 million in impaired goodwill for its Wealth Management business, 57 percent of the total.

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ADP: 20 Million Jobs Lost in April

There were 20,236,000 jobs lost in April in nonfarm private employment, Automatic Data Processing reported this week. Among sectors, service providing jobs led the decline with 16,007,000 individuals let go.

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