Re-Engineering Your Accounting Firm to Maximize Time and Profit
A large national accounting firm, located in Dallas, saw that their non-profit clients were struggling with the expensive cost of the services the firm was providing. They had MoneyPenny come in and look at the current processes they were utilizing. The head of the non-profit division brought in her team and described to them the […]
Should You Pay for Your Client’s SaaS?
Many years ago, back in the previous century, we recommended that accounting firms, wanting to become more efficient and promote themselves as forward-thinking, should use ASPs when managing their business client’s accounting software. That is still a viable option for quite a lot of businesses and firms. We even went so far as to tell […]
Action plan: Implementing Apps in your Accounting Firm
This can be used for any case of any implementation from a new client on-boarding, new product line and especially app or software changes. Told as true story, because it does paint the picture of what not to do. Full disclosure, I take some on-boarding support calls for FileThisPro. In that capacity I have run into […]
Meet My New Employee, AI
Recently, I reviewed an analytics module added to FloQast, a cloud-based closing system for accountants. While there are several analytics systems accounting firms can use to report on the health of the firm’s business clients, FloQast is different. It is made for accountants by accountants to answer the question: HOW IS OUR FIRM DOING? The […]
The Need for Legal & Accounting Professionals in the Cannabis Industry
April 20th is a day of celebration for those in the cannabis industry. States and countries are changing the laws on the growing, selling, and using of cannabis almost weekly. A confluence of dedicated lobbying by groups such as norml.org and the Marijuana Policy Project, along with a generational change, the understanding that opiates are […]
What was that deposit?
Insourcing your clients’ bookkeeping and accounting has become rather commonplace. The first step was to take over the payroll, then AP and expenses. Those two areas have become rather easy to manage and run virtually thanks to apps such as Gusto, QuickBooks Payroll ADP, Ovation, bill.com, Entryless, Receipt Bank and Expensify to name just a […]
Is Software the Answer to Value-Added Billing?
Will software provide the tool for doing value added and consulting work? When you started your firm, you knew from your early internship and years spent getting your feet wet, how to do billable hourly tracking. There is a plethora of software on the market, many tied into practice management software, that assists you in […]
Change is Inevitable
There have been a plethora of articles on the changes technology is bringing to the workplace: how accountants and bookkeepers need to integrate these technologies into their firms and utilize them for the added value sale, to increase client retention and client relationship, and manage internal workflows and employees. “So many apps, so little time” […]
Finding Your First CFO Client
During a consulting session with a bookkeeping and technology firm, I was once again reminded how often we forget what we know. Sound strange? Have you ever worried about how you can create managerial reports when performing value-added CFO services? Does that concern allow you to default to financial compliance reports, or worst still, fall […]
Competing with the Big Four: Outsourcing as the Leveler
Many companies find that having data entry work done by staff in India is very helpful not only to the bottom line, but also to the internal staff that is dealing with incoming calls, clients, and the day-to-day activity. The India teams accomplish their work during the US evening. I have workers in several locations: […]
