How FreshBooks successfully replatformed, the biggest threat to the CPA profession, keys to starting a bookkeeping practice, QuickBooks hacks, Xero partners with Capital One, and more
Cloud accounting is radically changing the role of the outsourced bookkeeper. Tech-savvy bookkeepers are becoming what I call "Information Systems Managers." We set up and maintain integrated systems, and oversee the flow of data among a variety of apps for our clients.
Last month was the first annual CPA Practice Advisor “40 Under 40” ThinkTank Symposium. Here are 5 of my key takeaways, including the importance of customer experience, matching the career expectations of Millennials, and redefining what it means to be an accounting firm.
By choosing to work exclusively with particular developers for deep integrations in QBO, Intuit could easily stifle competition in the cloud accounting ecosystem.
The accounting industry is in a state of flux. The fact that I just attended a cloud accounting conference in San Francisco with more than 1,400 other accounting professionals shows where technological innovation is driving the industry.
A new survey shows that many people have no idea what bookkeepers do on a day-to-day basis — but they also value them highly! There's a big opportunity here for entrepreneurial bookkeepers to leverage the power of cloud accounting to eliminate tedious tasks.
I'm honored to have been named to CPA Practice Advisor's 2016 "40 Under 40" list. This award is designed to recognize "young leaders who are helping to positively shape the accounting and tax profession." You can read my Q&A with CPA Practice Advisor here.
Starting November 2016, partners will earn 2 points for each Xero Business Edition org on their billing account or that they have been invited into. This means you'll no longer need to be the firm paying for the Xero org to get credit for the org as part of the Xero Partner Program.
Wow. That was a blur! Xerocon was August 15 to 17 at Pier 27 in sunny San Francisco this year. Over 500 accountants and bookkeepers were in attendance. Here are the highlights.
Xero innovated the concept of an "ecosystem" of cloud accounting applications for small business. FloQast, a "close management solution" for internal accounting departments, represents the expansion of this trend into the mid-market. Read my article on Accountex Report to learn why this trend matters to accountants, and how developers can take advantage of it.
Accounting and bookkeeping are all about the cloud these days. But not every firm is ready to make the switch. If you're sticking with desktop for a while longer, LedgerSync can give you some of the benefits of the cloud at a very reasonable price.
Starting in June, UpWork will start charging a processing fee to employers. Freelancers will now pay a fee on a sliding scale as opposed to the previous 10%.
As a freelancer or remote worker, eventually you get sick of working from home or cafes. Here's a list of other places where you can sit down, focus, and finally get some work done.
From the article on NYTimes.com: "Makers can’t live like Managers. They require ‘‘Maker hours’’ — long, unspoiled afternoons to muse, contemplate the verities, build digital things and play stress-relieving games of Carcassonne. They need rich, solitary, germinative time."
This year, the team at HPC switched to Zoom for our company video conferencing tool. I've added it to my list of Recommended Apps for Accountants and Bookkeepers.
Over the past two years of running a completely virtual, cloud accounting service business, I’ve learned a lot about what works and what doesn’t when it comes to project management (PM) applications. After spending hours on hours evaluating PM software, I’ve come up with a set of criteria that I hope will help you decide on your own solution.
Basecamp just released a big update to their iPhone app. The update includes some long-awaited key features for mobile, making Basecamp a much stronger option for mobile project management. The iPhone app also now supports cool new features in Yosemite and iOS 8 including the iOS sharing extension and Handoff.
This brilliant Google Script periodically goes through your Gmail account and labels messages between 5 and 14 days old where you were the last person to respond. It's a perfect way to make sure that you follow up when your recipient fails to write back. And you don't need a third-party service to do it, since the script runs under your own credentials.
Recently, Chrome started really dragging on my Mac. I opened up the Activity Monitor and figured out that it was Adobe Flash that was taking up all my CPU time. If you're having this issue, try installing the FlashControl extension for Google Chrome.
Read this article in Accounting Today about the importance of keeping the focus on the prospect, not yourself or your own firm. My key takeaway: "Try asking more and telling less. Asking great questions is the route to more engagements and one of the best ways to grow your practice and your firm’s revenues."
Here are some excellent tips for writing well from Help Scout, including my favorite, "Don't write words, write 'music'."
Since 2008, Expensify has acquired nearly 4 million users while spending next to nothing on promotion. Here's how.
Previously on Going Concern, I wrote a post called "Why Accountants Suck at Marketing." As a follow up, here are four simple ways accountants can do better.
From my first post on Going Concern:
"Valuing logic and reason above all else is an excellent trait for an accountant, but is terrible for understanding how and why people buy things. That’s because most people buy products and services according to how they feel, not how they think."
I’m loving this article by Leonard Kim in Inc. summarizing Ryan Foland's method for pitch writing. The "3-1-3 method" is an excellent exercise for both startups and established businesses. Can you distill your business from 3 sentences down to 3 words?
Getting content to your accounting or bookkeeping clients and prospects doesn't have to be difficult at all. It can even be easy (and maybe fun, too). Here's how.
Adding images and graphics to your posts is one surefire way to increase audience engagement. Now that's easy to do with cloud graphic design apps such as Canva, which I used to make the featured image for this post.
If you're going to make the effort to do content marketing for your accounting firm, it's really important to know before you start who your audience is (who it is you're writing for).
Luxury brands—such as Hilton, Le Meridian, and Neiman Marcus—are masters of anchor pricing. Learn what it is, how it affects perceived value, and how to use it to your firm's advantage.