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Cloud Accounting Weekly #37

Where have the last three weeks gone? I have two words for you: Busy Season. It's been a blur for most of us, especially on the outsourced accounting team. For me, it's also meant getting up to speed at a new firm, though less "getting up to speed" and more "hitting the ground running." 

So there's my excuse for taking a break. If it happens again I'll have to rename this newsletter to "Cloud Accounting Infrequently." Thanks for reading, and as usual, here are the top links I've clicked on recently.

Top Stories

Is QuickBooks Desktop Dead?

Accountex Report — Based on the numbers, looks like QuickBooks Desktop isn't going anywhere anytime soon. Also, check out how much money Intuit makes from its own QBD add-on services (payroll and payments). Far more than the desktop app itself. The one-time software license may seem cheap compared to a monthly subscription, but most business owners end up paying far more via inflated credit card processing fees.

Chris Liddell

Chris Liddell

Xero Chairman Accepts Position in Trump Administration

CPA Practice Advisor — "According to Variety, 'Liddell will head up what will be known within the White House as the Strategic Development Group, which will focus on unnamed “priority projects.” It will also be his job to interface with “private sector forums.'"

Taxfyle Receives $2 Million in Financing

CPA Practice Advisor — The top featured tax app in the App Store has raised $2 million in seed financing. Taxfyle connects consumers and SMBs directly with CPAs and EAs over a mobile and web-based platform, cutting out traditional firms.

Drones set to invade accounting profession

Journal of Accountancy — I want to be a drone-certified auditor: “In the accounting profession, for example, firms working with clients that own large mineral deposits or mining operations can now use drones to fly over the area, taking thousands of pictures and measurements. CPAs can then use that data to provide exact estimates of holdings."

CPE

Looking for Xero Training? Look to Elefant

Elefant offers live webinar courses and on-site training for accountants, bookkeepers and small businesses. It was founded by Amanda Aguillard, the first Xero Gold Partner in Louisiana. She teaches Xero certification courses and is the Xero Ambassador for the Southwest U.S. region.

Software Updates

Futrli — Our Future is ‘Futrli’: Why We’ve Re-Branded And Launched White Labelling

CrunchBoards has rebranded to "Futrli," and now offers white labeling for accountants and consultants.

bulk-update-invoice-reminders_800x480_acf_cropped.png

Xero — Change invoice reminder settings in bulk

File this in "How Xero Saves Time": Now you can change invoice reminder settings in bulk

Automation

Bank of America opens branches without employees

Reuters — "Bank of America Corp has opened three completely automated branches over the past month, where customers can use ATMs and have video conferences with employees at other branches."

Remote Work

Commuting Costs Americans $3,000 Per Year, 187 Wasted Hours

CPA Practice Advisor — Do your employees a favor and let them work from home at least some of the time: "Americans spend an average of 45 minutes every day commuting to and from work at an average cost of $12 per day. That works out to 187 hours and $3,000 annually, according to a survey commissioned by Citibank."

Podcasts

Putting Profit First with Guest Mike Michalowicz

Thrivecast — “In this episode, Jason and Greg talk about the kind of info clients need. The importance of GAAP, independence, metrics, KPIs, and more are considered. Then Mike Michalowicz joins them to discuss what business owners can do to have a healthier company financially.”

Sales & Marketing

How to Market Yourself as an Expert to Clients

AccountingWEB — "When you freely give away your expertise (even in small doses), people begin to recognize your mastery of the subject. And later, when they have a need for the types of services you offer, you are likely to top their list."

 

Thanks for reading! Looking to catch up on the news? Check out the previous issue, Cloud Accounting Weekly #36.

Blake Oliver

Los Angeles, California, United States