you don’t need this, but your survivors do
bonus checklists: 16 steps to reviewing a buy-sell agreement and 20 issues to consider.
by ed mendlowitz
77 ways to wow!
management
make fewer mistakes, increase revenue and capacity
tackle the four error categories.
by frank stitely
the relentless cpa
determining the workflow harm that errors cause should be second nature now. errors cause rework. rework adds to work in progress (wip) and, thus, increases turnaround time.
this happens in two ways: as wip increases, capacity decreases. it’s a double whammy.
more: how small firms can win the talent wars | easy ways to avoid ‘done but’ tax returns | six ways to create a millennial-friendly firm | do you know your turnaround time?
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when a reviewer spots errors on a tax return and sends it back to the preparer, the preparer wastes at least 15 minutes, and probably more like 30 minutes, fixing the errors. the return then goes back to the reviewer, who spends another 15 minutes re-reviewing the return. we have added 30 to 45 minutes to the wip for this tax return. we know that adding to our wip numerator increases turnaround time.
why federated search matters
no more subfolders! just imagine.
by penny breslin
it’s not just the numbers
much has been done to help people deal with information overload. desktop search tools have made it easier to find a piece of data hidden among all the other data stored on your system. but what about all the data available on portals, stored in shared drives, and trapped in business applications, let alone the valuable information stored in various employees’ heads?
more: how to develop procedures for bos | proper workflow demands consistency | workflow tools can deepen client relationships | going viral: today’s top marketing strategies | top ten types of clients (and 24 more reader suggestions) | which kind of team do you have? | meet the new bos
this information is vital to your firm. employees need this data to do their jobs, and they need it quickly.
the key to finding information quickly is a mighty search engine. enterprise search engines can find information stored almost anywhere in your system. whether looking for data stored on the desktop, tucked away on an intranet site or locked in a line of a business application, an enterprise search tool can help you find it. the search solution combines desktop search with fast intranet searching capabilities.
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kenji kuramoto: rules? what rules?
kill the 40-hr work week, online pricing, and all the other archaic accounting conventions.
with liz farr for 卡塔尔世界杯常规比赛时间
how to develop procedures for bos
every client needs a playbook.
by penny breslin
it’s not just the numbers
as back office support, you assist your clients in making timely and accurate business decisions. in the past, you worked on hourly billing doing compliance management. everything was about time.
more: proper workflow demands consistency | tips for getting clients started on bos | the best tech for your team and clients | marketing? know your goals first | eight things to stop doing now | you don’t have to do everything | why ai is not the enemy
when you did work for a client, you may have billed out an $18-per-hour employee at a rate of $60 per hour. when your employee took the time to call the client for the documents, walked down the hall to ask someone how they had previously handled a transaction, then waited for a document to show up with nothing to do until it showed up – all of this time was billed hourly.
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how small firms can win the talent wars
getting creative can bring in better talent and better clients.
by frank stitely
the relentless cpa
one afternoon, the partner group of our outsourced accounting practice met for a state of the practice meeting conducted by our director of outsourced accounting. our prior director left and we were looking for someone when one of our newbies asked if he could be considered.
more: easy ways to avoid ‘done but’ tax returns | six ways to create a millennial-friendly firm | do you know your turnaround time? | why hiring out of school works | leadership growth is a two-way street | quiet quitting: are employers culturally aware? | how to guide students into accounting | three strategies to keep emerging leaders engaged
the 25-year-old had one year of experience, and we were chasing a controller-type person. the whole outsourced practice was in shambles. revenue was nil and any clients we had were unsatisfied.
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simple controls can prevent fraud
even their existence can be a deterrent.
by ed mendlowitz
77 ways to wow!
chad davis: don’t like it? don’t do it!
chad davis: gone remote and not coming back.
the disruptors
with liz farr for 卡塔尔世界杯常规比赛时间
easy ways to avoid ‘done but’ tax returns
change mentality and ask better questions to eliminate bottlenecking.
by frank stitely
the relentless cpa
a project hung up in process is one where there is a disagreement between people involved in a project as to the status. for example, a client thinks he has answered your tax return questions, while you believe he has not. another example is when a tax return preparer believes a return is ready for review while the reviewer does not believe it’s ready.
more: six ways to create a millennial-friendly firm | do you know your turnaround time? | tax season client meetings: kill them now | leadership growth is a two-way street | 12 subjective factors for pricing your next engagement | the six pillars for finance transformation | three strategies to keep emerging leaders engaged
the result of a hung-up project is a dead project – one that’s not moving to completion.
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six ways to create a millennial-friendly firm
your firm’s future depends on successfully engaging younger clients and younger staff. here’s how.
by frank stitely
the relentless cpa
do you know why millennials can’t buy houses? avocado toast is expensive. how many millennials does it take to change a light bulb? none. they accept it for what it is. buy me a craft beer and i’ll tell you a half-dozen more.
more: do you know your turnaround time?
now, here’s why you need millennials as clients and how they increase the efficiency of your firm.
manage better with the right financial tools
get the most out of what you’re paying for.
by ed mendlowitz
77 ways to wow!
the life insurance that your firm needs
guarantee funding when your business needs it the most.
by russ alan prince
your $5 million high-net-worth practice
there are times because of death when key people in a company are lost. key person life insurance provides funds to a business to address the financial losses that can occur when a key person dies.
more: why you need a team of experts | why a virtual family office? why now? | is your client’s umbrella big enough? | your client’s instincts are wrong | preserving wealth is a different mindset | three approaches to investment consulting
revenue losses can be offset, and money can be tapped to help ensure the business remains viable and doesn’t fail – for example, to find a replacement or train someone to take the job of the key person who died.
this is almost always the most cost-effective approach. additionally, key person life insurance pretty much guarantees the money required will be available when needed.
workflow tools can deepen client relationships
bonus case study: how we work with our direct small business clients
by penny breslin
it’s not just the numbers
managing tasks and workflow through email, handwritten notes, telephone messages or walking down the hall is a recipe for disaster. a web-based tasking app, preferably linked to your document management system, allows the back office support to inspect what they expect:
- recurring tasks done on time and accurate load leveling of resources
- audit trail of work
- set up, review, make notes, share information and complete tasks while maintaining the relationship with the client
more: find the best tech for your team and clients | choose your little black dress of technology | pick your favorite clients | keep the accountants focused on accounting | what do you want advisory services to be?
tasking applications come on the market regularly and there are a few that are specific to the accounting industry. they can run the gamut in price ranges and capabilities. from advance flow to 17 hats, a firm large to small can find one that will work and fulfill 80 percent of their needs. below are some we work with and that get high reviews with our staff:
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