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why more firms are trashing timesheets

september 21, 2015

recommended: two books to read.

by ed mendlowitz

question: i’ve read that many firms are no longer using timesheets. how do you feel about that?

more practice doctor q&a: how much overhead is too much?|clear billing procedures make collecting easier | change your thinking about ‘small’ clients | why adopting new technologies is a must | when fees don’t keep up with cost increases | lowballing and why it (usually) doesn’t work | why the average fee doesn’t matter | how to apply value pricing to bundled services | 8 times when hourly billing trumps value pricing | 14 ways to switch to value pricing | pricing, billing, costing: don’t blame clients

answer: there is a growing group of firms that no longer use timesheets. the leader of this movement is ron baker, who explains his reasons and provides a model in his many books, many of which i have read and recommend.

how much overhead is too much?

september 7, 2015

by edward mendlowitz

plus a tip for increasing revenue if needed.

by ed mendlowitz

question: are there any rules of thumb for a cpa firm’s overhead and salary costs?

more practice doctor q&a: when partners stop growing | clear billing procedures make collecting easier | before you even think about selling your practice | are you managing knowledge or wasting it? | 7 ways to lose a client’s trust | 12 must-knows for niche markets | when fees don’t keep up with cost increases | when is it time to merge? | 18 ways to blow a partnership opportunity | 6 ways to know what you don’t know | 6 simple steps to impress a prospect |tax return reviewer ticking and tying |23 reasons clients really need you for taxes |complaining client? no wonder! | running an accounting business

answer: the rosenberg survey has excellent metrics and is highly recommended. on a less scientific basis you can use as a general rule of thumb 1/3 for salaries, 1/3 overhead, 1/3 partners salary.

thank you, accountingtoday. we’re honored.

september 3, 2015

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when partners stop growing

august 31, 2015

by edward mendlowitz

bonus checklist: nine things needed for firm growth.

by ed mendlowitz

question: i am the managing partner and run a tight ship, however, some of my partners do not appear to be growing and on some level that is holding back the firm’s overall growth.

more practice doctor q&a: billing procedures make collecting easier | there’s more to growth than marketing | how to make staff a team again | before you even think about selling your practice | how to make annual staff evaluations work | it’s not sales. it’s your duty | when staffers stagnate | quote with care when asked for valuation | how much should you pay to buy, sell or merge an accounting practice? | when fees don’t keep up with cost increases | 10 (nearly) painless ways to keep up to date with technology | 44 critical criteria for accounting staff performance evaluations | 5 time management tips for an overworked accountant | running an accounting business

any suggestions or is this just the way it is? read more →

clear billing procedures make collecting easier

august 24, 2015

by edward mendlowitz

tips for handling everything from late payers to extra services to minimum fee schedules.

by ed mendlowitz

question: can you give me some suggestions on overall firm pricing and billing methods?

more practice doctor q&a: there’s more to growth than marketing | how to make staff a team again | before you even think about selling your practice | how to make annual staff evaluations work | change your thinking about ‘small’ clients | why adopting new technologies is a must | when fees don’t keep up with cost increases | lowballing and why it (usually) doesn’t work | what goes in a client’s permanent file? | why the average fee doesn’t matter | how to apply value pricing to bundled services | 6 ways to take a client beyond tax prep

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answer: here’s how we’ve handled the billing and collection process at my firm.

four ways to ‘wow’ not-for-profit clients with powerpoint

august 17, 2015

by edward mendlowitz

how to create ‘killer’ slides that win over clients.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: i have to provide a 5- or 10-minute presentation based upon my year-end audit to the board of a not-for-profit client. i would like to wow them. any suggestions?

more practice doctor q&a: change your thinking about ‘small’ clients | 12 must-knows for niche markets | when large (or any) clients need backup assurances | lowballing and why it (usually) doesn’t work | how to apply value pricing to bundled services | 6 ways to take a client beyond tax prep | 6 ways to know what you don’t know | 10 do’s and don’ts for making small business clients happy | 6 simple steps to impress a prospect

answer: time is precious, and you should use it to provide the essential “big picture” info and in an easy-to-grasp manner. here are some suggestions: read more →

there’s more to growth than marketing

august 10, 2015

by edward mendlowitz

you need goals, not just a desire to get new business.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: we are a 20-person firm and are thinking of engaging a marketing consultant for training on how to get new business.

more practice doctor q&a: change your thinking about ‘small’ clients | it’s not sales. it’s your duty | quote with care when asked for valuation | how much should you pay to buy, sell or merge an accounting practice? | why the average fee doesn’t matter | 6 ways to take a client beyond tax prep | 6 simple steps to impress a prospect | 10 ways to get new 1040 clients | 23 reasons clients really need you for taxes

have you heard of anyone in particular for cpa leadership training? what does your firm do regarding this? an internal program or do you use outside consultants? read more →

how to make staff a team again

august 3, 2015

by edward mendlowitz

bonus checklist: 5 steps you can take today.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: my staff seems to have “wandered” away from feeling this is a firm – that we are all in this together – to becoming a bunch of people who happen to work at the same address.

more practice doctor q&a: how to make annual staff evaluations work | when staffers stagnate | 7 ways to lose a client’s trust | 18 ways to blow a partnership opportunity | when a staffer stops listening | making meetings more productive | 44 critical criteria for accounting staff performance evaluations

do you have any suggestions to get them to pull together?

answer: yes… read more →

before you even think about selling your practice

july 20, 2015

by edward mendlowitz

bonus checklist: 14 data points you’ll need about your firm.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: do you have any advice to someone preparing to sell their practice?

more practice doctor q&a: how much should you pay to buy, sell or merge an accounting practice? | when is it time to merge? | 8 times when hourly billing trumps value pricing | 10 do’s and don’ts for making small business clients happy | 10 (nearly) painless ways to keep up to date with technology | 5 time management tips for an overworked accountant | complaining client? no wonder! | running an accounting business | pricing, billing, costing: don’t blame clients

answer: here are some things to do when preparing to sell your practice:
read more →

how to make annual staff evaluations work

july 13, 2015

by edward mendlowitz

bonus checklist: six essential ingredients for the highly effective performance evaluation.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: do you recommend annual staff evaluations?

more practice doctor q&a: when staffers stagnate | when to hire an admin assistant | 12 must-knows for niche markets | when large (or any) clients need backup assurances | when experience doesn’t add up | 6 ways to know what you don’t know | 10 do’s and don’ts for making small business clients happy | when a staffer stops listening | making meetings more productive | 44 critical criteria for accounting staff performance evaluations

answer: yes and no.

change your thinking about ‘small’ clients

july 6, 2015

by edward mendlowitz

bonus checklist: 11 services that should be part of every “cfo” engagement.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: i have many small business clients and can’t seem to get larger clients. any suggestions?

more practice doctor q&a: it’s not sales. it’s your duty | 7 ways to lose a client’s trust | 6 ways to take a client beyond tax prep | 10 do’s and don’ts for making small business clients happy | 14 ways to switch to value pricing | pricing, billing, costing: don’t blame clients

answer: when i started, we called the work we did for small clients “writeups.” at some point, write-ups were an embarrassment and we stopped calling them that – we said we handled family businesses. read more →

can accountants save the planet?

june 23, 2015

by edward mendlowitz

‘we must find new ways to measure economic costs and the changes in the economy.’

by edward mendlowitz, cpa

worth reading: “six capitals, or can accountants save the planet?: rethinking capitalism for the twenty-first century” and “double entry: how the merchants of venice created modern finance,” by jane gleeson-white

the history of accounting is a fascinating drama and jane gleeson-white brings it to its thrilling heights. i recommend both “double entry” and “six capitals” by jane gleeson-white, but for different reasons.

“double entry: how the merchants of venice created modern finance,” is really two separate books – one an exciting history and the other a disturbing condemnation of the way the method of financial measurement has progressed. i also recommend “six capitals” if you want to find out more about her ideas, which is pretty deep stuff.