client service opportunities

when cpas leave to work for a client

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money tree growing in the middle of green meadoware you sure that grass is greener?

by ed mendlowitz
call me before you do anything: the art of accounting

i know many cpas who left public accountancy to take a “better” job. for many of them this was a mistake. for some it worked out, so if you are one of the lucky few, you can stop reading what i have to say.

more: when siblings battle over the family business | readers rip: ‘she wanted her shoebox back’ | ceos don’t always know numbers | finding new business in sustainability | how to recoup staff training costs
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

there are basically three types of companies the accountant could work for – a small client that does not have an in-house controller or cfo, one whose controller will be replaced by the departing cpa, or a large company that has an entire accounting staff already in place. let’s talk about working for the small companies that do not have a controller.
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clients: what accountants don’t understand

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knowing them is just the start.

by gary bolinger

you know a lot about your business clients. as a  result of the compliance work you do – tax and financial reporting projects – you do know a lot about your clients. you know about profit and loss. you know about payroll. certainly, you have some knowledge about vendors and customers, at least from a financial perspective. you have seen marketing budgets, cost of sales and know what occupancy costs are. all of that is good.

more: why accountants fail at consulting | advisory vs. low-value clients | what + who leads firms to better service | how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but do you understand your clients? do you understand your clients in ways that can give you the kind of insight that is needed to indeed be a most trusted advisor? in fact, to be the most valued advisor?
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salt: the small business disaster waiting to happen

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more highlights: “tax season from hell.” the pandemic pivot. small business outlook. digitally-powered recovery.

small business salt: 98% of accountants say small businesses are vulnerable to interstate sales tax issues, including 7% who say “none or almost none” are in compliance and 39% who say “most” are not and another 39% saying only “some” are.  (卡塔尔世界杯常规比赛时间 research)

 

by 卡塔尔世界杯常规比赛时间

three years after the notorious “wayfair” decision, accountants say a vast number of small businesses face new and burdensome interstate sales tax measures. but only a few accountants appear ready to help, according to new research by 卡塔尔世界杯常规比赛时间.

more: survey: rough seas ahead for small business

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

most accountants believe that 98 percent of small businesses – virtually all – are failing to fully comply with all the interstate sales tax issues they may be liable for. and yet, about 71 percent of accountants are falling short of handling all their clients’ sales tax issues, with about 12 percent saying they address “most” issues, 36 percent handling “some,” and 24 percent handling none, according to the new study conducted in conjunction with avalara, the tax management software company.

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when siblings battle over the family business

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succession plans can get dicey… for the advisor.

by ed mendlowitz
call me before you do anything: the art of accounting

someone has to be the boss. when the founder is active, he or she is usually the boss. but what about arents who step aside to have their children run the business? particularly where there is more than one child working in the business?

more: readers rip: ‘she wanted her shoebox back’ | when parents, children hit an impasse | wealth is a state of mind | the six types of “impossible” clients | you’re not just taxes | granting unconventional request pays off | 20 best practices for staff training and retention | what does the client want to see?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i’ve seen some situations where two siblings can run the business as equals. and then, there are other situations where they can’t. what do you do?

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why accountants fail at consulting

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couple meeting with investment advisor.the move requires commitment and resources.

by gary bolinger

most all cpas in public practice talk about transitioning away from traditional compliance services to offer more advisory services.

more: advisory vs. low-value clients | what + who leads firms to better service | how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when i have talked to firms in the past few years and i ask about percent of total firm revenues in a&a, tax and advisory, the percentage for a&a and tax constitutes a significant majority of total fees. but advisory alone is usually 10 percent or less.

even then, those advisory consulting fees are generally closely tied to some aspect of compliance. so, i’m not sure that i would really say that’s advisory. so, with all the talk – for maybe the last 20 years – about the need to grow advisory revenues, why are the revenues so low in relation to compliance services?
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she wanted her shoebox back

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one of the oddest ways i ever lost a client.

hoisted from comments
looking at comments, ed mendlowitz seems to have hit a nerve with this piece. 卡塔尔世界杯常规比赛时间 readers are reacting with knowing nods and war stories of their own. 

by ed mendlowitz
call me before you do anything: the art of accounting

who would ever think that the most important part of a shoebox with a client’s tax information was the shoebox?

more: when parents, children hit an impasse | how bickering can ruin a family business | one hour a year since 1972 | 50 ways to make more money in busy season | 20 good ways to boost tax season production
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

not me, and i lost a client because of it. read more →

would you buy your own services?

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business meeting of a woman and two mentemplates are handy but don’t show understanding of what the client wants.

by steven e. sacks
the new fundamentals

do you ever wonder why after spending many hours on drafting, editing, proofing and polishing – and proofing and polishing just once more – your engagement proposal efforts did not result in winning the engagement? and if this happens on a semi-regular basis, the frustration is never easier to take.

more: the future of the accounting profession | 7 signs your accounting firm agreement falls short | five common negotiating mistakes | reaching for authenticity in client service | deadlines? ha! don’t make me laugh | organizational change starts and ends with people | busyness isn’t the same as productivity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you may have the requisite knowledge and experience and perhaps even a broad view based on a diverse set of clients. however, you may have become complacent by maintaining a “cookie-cutter” approach to developing your proposals. like the old joke defining a consultant: “a person who takes off your watch, tells you the time and gives the watch back to you,” implies an approach that you believe is best for your potential client, yet reflects no understanding of what the client actually needs.
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tax season is over; now what?

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woman driving a sports carhow are you marking this year like no other?

by ed mendlowitz
call me before you do anything: the art of accounting

i always ended tax season with my office closed the next day. we once gave employees a choice of taking off either the day after or friday after tax season. those who chose the friday said they should have taken off the day after. that day off provided a way to unwind and just be lazy.

more: when parents, children hit an impasse | how bickering can ruin a family business | one hour a year since 1972 | why annual staff evaluations fall short | why create an accounting firm business model? | the clients that keep you awake at night
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

one year, one of my partners, a close friend and i all bought new cars that day. it is a day to clear your mind and come down from a high-performance mentality.
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advisory vs. low-value clients

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where is your energy best spent?

by gary bolinger

all firms have low-value clients. sometimes, they take more time than they are worth. there is never any growth with those clients. same thing, year after year.

more: what + who leads firms to better service | how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

it isn’t all that much fun to work on those engagements. these clients are generally interested in the lowest fee possible, but they create a lot of work or anxiety in many ways.
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what do you sell on?

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8 key questions to get you started on your accountability journey.

by martin bissett

the secret to overcoming failure to correctly implement a successful business development strategy is by “winning your first client” and this starts by being accountable to someone for your performance.

more: what partners don’t tell you | don’t wait for business to come to you | your first sale is to yourself
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now that “someone” may be your fellow partners in the firm. if you are a senior manager, that may be the partner to whom you report.
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when parents, children hit an impasse

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overhead view of male and female business partners analyzing statistical annual report represented in graphs on digital tablet.four ways to proceed.

by ed mendlowitz
call me before you do anything: the art of accounting

many family-run businesses have parents and children who perform excellently together, and i have worked with many proud companies. however, occasionally there is a stumbling block, in that a parent and child just cannot get it together. what to do?

more: how bickering can ruin a family business | ceos don’t always know numbers | finding new business in sustainability | 14 simple, easy tips for a better tax season | how to recoup staff training costs | 10 ways to stay in control
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in many small businesses an underperforming employee hurts, and oft times there is a reluctance to get rid of them. they linger on, holding back the company. it is inevitable that they will be gone at some point, but that point seems to be delayed past when it should have been dealt with. biting the bullet is necessary, and when the owners realize they are better off in the long run, they take the necessary step.
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