Cloud Accounting Weekly #17

Here's a roundup of the best links I clicked on this past week.

Also, I'll be at Xerocon in San Francisco starting Monday! Follow me on Twitter and save a search for the #xerocon hashtag to stay on top of all the goings-on. If you'll be there, too, message me so we can make sure to connect in person.

For more Xerocon coverage, follow Jay Kimelman, who will be live streaming portions of the event on Facebook using the hashtag #XeroinonXEROCON.


Top Stories

Bill.com — 5 Must-See Things at Xerocon 2016

Are you headed to Xerocon San Francisco this week? If so, I'm looking forward to seeing you there! Also, check out Bill.com's selection of must-see things at Xerocon. If you're not yet on Bill.com, make sure to stop by their booth! (read)

Forbes — The Most Profitable Industries in 2016

With an average net profit margin of 18.3%, accounting-related companies top the list of Forbes' "Most Profitable Industries" of 2016. As Sageworks analyst James Noe points out, service businesses such as accounting are typically the most profitable because they rely almost exclusively on human capital. (read)


My wife and I end up both working from home pretty frequently, so I could definitely identify with some of the complaints in this article. (read)


Summer Reading

Drew Hayes — Bloody Acquisitions

Thanks to Caleb at Going Concern for pointing out this novel about a vampire accountant. Apparently this is the third installment (!) in a series.

Here's the synopsis: 

With a thriving parahuman accounting practice, a steady relationship, and a circle of trusted friends, Fred’s undead life has become more enjoyable than his normal one ever was. Unfortunately, it also seems that he’s no longer the only vampire to appreciate the up-and-coming city of Winslow, Colorado. A new clan of vampires is moving in, and they aren’t well known for tolerating outsiders in their territory.

(read)


Podcast

Abacus — How to Pass the CPA Exam at 30 (Even If You’ve Failed in the Past)

Jeff Elliot, creator of Another71 and NINJA CPA Review, talks about how he failed BEC three times before finally figuring out a study system that helped him pass the CPA Exam. He used that experience to start Another71.com, which is now one of the biggest CPA review forums in the world. (listen)


Sales Tax

TaxJar — Sales Tax by State: Is SaaS Taxable?

Cloud accountants can now serve clients all over the country (and world, too). That makes it important to stay on top of changing sales tax regulations in all 50 of these great United States. To help with that, TaxJar has put together a helpful guide on the taxability of Software as a Service on a state-by-state basis. (read)


Sales & Marketing

Greg Kyte — One Way You Should Be Like Donald Trump. Only One.

Politics aside, there is a very important marketing lesson to be learned from the Trump Campaign: Be yourself. Although in light of recent events, maybe don't be too much like yourself. (read)


Reviews

Thriveal — TrustFile Thriveal Tech Review

Ian Crook gives high marks to Avalara's TrustFile, a do-it-yourself sales tax compliance tool for small businesses. TrustFile connects to your sales channels and accounting file to automatically prepare signature-ready returns that can be printed and mailed, or e-filed. (read)


Software Updates

Practice Ignition (engagements & billing) — Now the weekly summary email displays a list of all expiring proposals by week, current month, and next month. 

TSheets (time sheets) — Accountant View — Now you can easily switch between your clients' TSheets accounts without logging in and out. Clients won't be charged for you as a user, either.

Xero (accounting) — Continuing the move to AWS — Since June, Xero has been moving large numbers of its customers over to Amazon Web Services (AWS) each weekend. Now that over 50% of customers are on AWS, Xero is ready to move "shared applications" across as well. This necessitates some downtime. On Saturday, August 20, at 11 am Pacific Standard Time, Xero will take the application offline for a few hours.

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Blake Oliver

Los Angeles, California, United States