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meet the new bos

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woman using tablet in front of laptop and desktopbonus: a case study of how not to do things.

by penny breslin
it’s not just the numbers

accounting businesses have historically provided a range of “after-the-fact” compliance services including year-end accounting and tax return preparation. many firms also provide “write-up” services, which involve the recording of business transactions based on documents generated by the client, such as invoices, checks, deposit slips and documents provided by third parties, such as bank statements and payroll reports. write-up work is typically done once a month, after the fact.

more: why ai is not the enemy
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today, major innovations in technology are giving accountants the opportunity to expand their services and to provide much more comprehensive, timely and useful information to their clients.

one area of expansion is offering clients a complete back office support (bos) manager, which can include: read more →

six tips for winning more proposals

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hgo beyond the basics.

by sarah johnson dobek
inovautus consulting

the public accounting marketplace has become an increasingly competitive marketplace. you want to easily win more proposals, but decision-makers are savvy purchasers. no longer do they just talk to one firm; they often talk to multiple firms.

more: four ways to propel new cpas into growing your firm | five better ways to say no | are you solving your clients’ problems? | five ways to grow new service lines | don’t confuse marketing with biz dev | business development and sales aren’t scary
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whether you were referred to an opportunity through your network or the prospect found you through the fantastic interweb, we have six tips to help you be more successful with every swing at the plate.
read more →

tax & accounting firms beef up wages and headcounts

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line chartgrowth seen across the board.

by beth bellor

tough to find employees to fill accounting posts? someone is managing. overall employment in the accounting profession rose to 1,101,900 in may, up 15,600 or 1.4 percent for the month and 52,000 or 5 percent for the year.

more in staffing and talent management: cpa hiring rises as number of new grads continues to decline  |  five tips for virtual team member happiness  |  why doing nothing is not an option   |  when an employee’s growth has gaps   |  from senior to manager in 12 quick questions   |  staffing crisis: 40% are looking for new jobs   |

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every sector of the industry is pushing ahead with salary increases or new hiring, or both.

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8 ways to create your cas practice

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here’s the how.

by hitendra patil
client accounting services: the definitive success guide

whether you are thinking of offering client accounting services, have already started offering it, or you want to grow your cas practice or make it more profitable, some proven steps will make your cas practice shape up in the most optimized way. if you have already started offering cas, these are the steps that you will revisit from time to time.

more: the big money in cas for small firms | what cas is and isn’t | do you value your cas value? | the mindset you need for client accounting services
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there are eight steps to get started in cas and make your cas practice better. the following details are just a bird’s-eye view of the important aspects of how to create your cas practice. read more →

survey: only 19% of firms host email

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the percentage keeps shrinking.

the accounting firm operations and technology survey

email is a core tool but that doesn’t mean firms want to be in charge of it. only 18.8% of accounting firms choose to operate their own mail servers internally. the option is most popular among extra-large firms (101+ employees) and medium firms (11-50), at 46.7% and 42% respectively.

bar chart

more: 52% of firms look outside for it support | firms battle disruptions in communications and workflows | pandemic changed work for 64% | pandemic? what pandemic? | m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

read more →

build the framework to a solution with five answers

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woman and man shaking hands across a deskavoid last-minute decision-making.

by steven e. sacks
the new fundamentals

cpa firms often believe the most crucial part of negotiations to close a deal happens at the final stage of talks. but in order to have a satisfactory conclusion, you must set the tone at the beginning stage with an honest and forthcoming discussion based on mutual benefit – with an underpinning of respect and trust.

more: try for success, not a win
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for young professionals, it is never too early to evaluate your negotiation aptitude. think about this as a process with key milestones. this gives you the chance to make modifications along the way and to avoid the last-minute pressures of bargaining that can remove the advantages you have created. adhering to a game plan will reduce the chances of objections from the other party, or even worse, the backing out of an arrangement that you considered to be a “lock.” this can be applied to discussions involving a promotion or a pay increase.
read more →

marketing orientation is what firms need

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production orientation is where too many rest.

by august j. aquila

let’s look at the different focuses or orientations that firms can take toward managing and running their practices and see which ones the traditional pricing methods encourage. any organization, whether an accounting firm or not, usually tends to have one of four focuses.

they are either selling-oriented, product-oriented, production-oriented or marketing-oriented.

more: when hourly billing hurts profits
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each focus will have a direct impact on how a firm looks at servicing clients and pricing its services. the predominant focus is often dictated by the value system of the founders of the organization or its current management team. perhaps when the firm was first started, the predominant focus was appropriate. however, a danger exists when the external environment changes and the internal environment of the firm stays the same. in the ’70s and early ’80s firms did quite well by following a production orientation focus. in the late ’80s and the ’90s, this strategy did not work as well. and it certainly does not work today.
read more →

selling your firm? what to expect

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down payment? unlikely.

by marc rosenberg
cpa firm mergers: your complete guide

we’re talking about mergers of accounting firms and turning to specifics the seller should expect.

more: thirteen ways to woo potential firm buyers | 13 reasons to merge up | merger? the 100 data points you need first | one times fees isn’t the only way | thinking merger? first ask why.
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the items in this article are very common examples of what sellers should expect from buyers. sellers are obviously free to try to negotiate any and all aspects of the deal that they want. but most buyers will not relent very much, if at all, on the items listed here.
read more →

five tips for virtual team member happiness

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businesswoman with piggy bankfind ways to challenge them.

by sandi leyva
the complete guide to marketing for tax & accounting firms

it’s not uncommon for even the smallest of businesses to have employees and contractors all over the world. at one point i had an employee in ukraine, two employees in san jose, a virtual admin in orange county, a warehouse team in indiana, a transcriptionist in las vegas, partners in new york, chicago, missouri and atlanta, and a coach in sydney, australia.

more: three thoughts for a quiet morning | take a moment for appreciation | five skills that spell success | the seven-step plan for marketing by spreadsheet | five things clients have taught me
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i moved from san jose, calif., to plano, texas, while my team stayed put. and it didn’t hurt my business one tiny bit. here are five tips to help your virtual team play at their best.
read more →

five questions about your network

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man with pipe dollarphotodetermine how to describe your successes.

by martin bissett
passport to partnership

ask yourself and answer these questions when considering the current and future conversion tactics that you’ll employ.

more: why clients struggle with growth | do you make your firm look good? | seven things that good advisors skip | nine biz-dev metrics for making partner
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  1. if i were to start today, could i name four businesses that i’d like to reach out to?
  2. what is our firm’s net fee growth goal this year and what can i do to contribute to it?
  3. what do i need to do to be able to handle the tough stuff like negotiation, pricing and handling objections? what start to learning these skills can i make today?

read more →

why partner retreats are worth the cost

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send your toughest questions to ed at emendlowitz@withum.com

new environment, new ideas.

by ed mendlowitz
managing an accounting practice, the complete 2-volume set – 202 questions and answers, the 650-page encyclopedia of practice management

q: is there any value to a retreat?

more: why checklists? | ask these 10 questions before adding financial services | selling your practice is not a retirement strategy | thirteen things to know before selling your practice | 10 reasons clients don’t pay
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send your toughest questions to ed at emendlowitz@withum.com

a: absolutely! retreats are very important to reconnect with your partners and reassert why you are in business and what you hope to accomplish, in addition to making a living and not having to work for a boss who isn’t as good or nice as you are.
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why ai is not the enemy

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clients still need context.

by penny breslin
it’s not just the numbers

in 1994, in a small hotel meeting room in colorado springs, 50 accounting firms were up in arms when the presenter mentioned quickbooks. they shouted angry comments: “quickbooks is destroying my business.” “they want to take my clients.” “they are giving people a false sense of security with their commercials that say, ‘if you can write a check, you can do quickbooks.’”

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the presenter was nervous and asked me what he was to do. i said i use quickbooks for your company, and i have no idea what i am doing, and i could use an accountant to teach me.

read more →

52% of firms look outside for it support

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“i’ll just handle it myself” is the answer for 28 percent.

the accounting firm operations and technology survey

more than half of accounting firms look outside their walls to solve information technology issues, but that doesn’t mean they all do it the same way.

bar chart

more: pandemic changed work for 64% | pandemic? what pandemic? | m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
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an external consultant is an answer 30.9 percent of the time, for projects or as needed, with a managed service provider taking on the rest. of respondents who handle things on their own, 80 percent are solo practitioners, while full-time it staff or an it department are 60 percent likely at extra-large firms. read more →