New Year, New Job

Cloud Accounting Weekly #35

Happy New Year!

I'm back from a 3-week newsletter vacation, the first 2 of which were a real vacation (the first in several years). It was great.

Week 3 of newsletter vacation was also my first week in a new job — I've joined up with Armanino LLP as a manager on the Outsourced Finance & Accounting team in the Consulting practice here in Los Angeles.

Why go from the freedom of working for myself from wherever/whenever I want to sitting in an office in a big firm?

There are a number of reasons — too many to go into all of them here — but a big one is that client accounting services has been growing fastest among big firms. I'm excited to be where the action is, and Armanino strongly encourages entrepreneurial activity within the firm.

Thanks for reading, and as usual, here are the best links I've clicked on recently.

Top News

Philly's 35-year-old accounting software is somehow still kicking

philly.com — Philadelphia is still using a 35-year-old accounting system called FAMIS... and Excel spreadsheets for its 2,300-page budget. Because it is "cheap to operate."

BDO USA, Expensify Join Forces on Preferred Partnership

Insightful Accountant — "BDO will use Expensify’s automated receipt and expense management software to enhance the technology platform included with BDODrive, its outsourcing solution for financial management, accounting services and business intelligence."

Blockchain

The Promise of Blockchain Technology

Accountex Report — Doug Sleeter asks, “Do we want a global public ledger? It may sound scary, but what if we could completely erase the white board and develop a new system of accounting?”

Automation

The Long-Term Jobs Killer Is Not China. It’s Automation.

New York Times — “The changes are not just affecting manual labor: Computers are rapidly learning to do some white-collar and service-sector work, too. Existing technology could automate 45 percent of activities people are paid to do, according to a July report by McKinsey. Work that requires creativity, management of people or caregiving is least at risk.”

Software Updates

Deputy — Android 3.1 Released

Deputy Blog — Deputy has upgraded their Android app. Here's what's new:

  • Managers can now add and approve timesheets. 
  • Employees can choose from a range of new options for leave requests.
  • View your staff’s emergency contact details.
  • Share your upcoming shift details with your loved ones.

SmartVault — e-Signature Solution for Professionals

Insightful Accountant — SmartVault's new e-signature feature is powered by RightSignature. You can now request signatures on documents directly from SmartVault's Connected Desktop and SmartVault Portal interfaces.

Xero — Running account balance on Bank Account Transactions page

Xero Blog — Xero gave us a Christmas stocking stuffer / Hanukkah present to round out the year: Now you can see a running balance on the Bank Account Transactions page, including the impact of future dated transactions, making simple cash flow management much easier.

Reviews

Receipt Bank Thriveal Tech Review

Thriveal CPA Network — Ian Crook of Thriveal reviews Receipt Bank and concludes, "It’s no accident that Receipt Bank has been ranked the top add-on partner for Xero."

Sales & Marketing

Don’t sell features and benefits: sell expertise and results

The Profitable Firm — "When you are an expert (as many of you accountants are), it’s not your services or products that your prospects are buying. It’s not even the famous 'features and benefits' that they buy."

Thanks for reading! Looking to catch up on the news? Check out the previous issue, Cloud Accounting Weekly #34.

Blake Oliver

Los Angeles, California, United States