Here are the top links I clicked on this past week. Also, be sure to read my new blog post, QuickBooks Disconnect: How Intuit Could Crush the Nascent Cloud Accounting Ecosystem. Am I being paranoid? Let me know what you think in the comments.
Future of the Profession
By choosing to work exclusively with particular developers for deep integrations in QBO, Intuit could easily stifle competition in the cloud accounting ecosystem.
Mathew Heggem, CEO of SUM Innovation, argues that while AI bots will speed data processing, businesses that let bots entirely replace humans will find it impossible to stay competitive.
In the early years of her company, Therese Tucker thought she'd wind up bankrupt. She couldn't have been more wrong.
"For the six months ending September 30, 2016, Xero posted operating revenues of $137.2 million, a 48% year-on-year increase. Achieving a milestone of annualized committed monthly revenue of $303.2 million, Xero’s subscriber base reached a total of $1.7 billion of life-time value."
Check out Xero's new Contact Reports! You can create a report that’s essentially a detailed Statement of Account showing a customer’s opening and closing balance, as well as a running balance that includes outstanding invoices, credit notes and even split payments.
Intacct wrapped up Advantage, their annual customer and partner conference, with several important announcements. These include an improved user interface and experience, project accounting enhancements and two new modules: Spend Management and Contract Management.
Now you can forward (or simply email) anything into Jetpack. When you send something to firstname.lastname@example.org, it will turn the email subject line into a job name and pull in the email content into the description. Whoever forwards the email is the default assignee.
Microsoft's new Slack-like team collaboration tool is in preview as of this week with general availability expected in the first quarter of 2017.
Sales & Marketing
Even if your position doesn’t require you to compose lots of documents every day, you still have to write emails to colleagues and communicate with clients.
Free chapter from the upcoming eBook, "The Lifestyle Accountant: How Millennial Accountants Can Ditch the Cubicle, Find Remote Accounting Jobs and Achieve Their Ideal Lifestyle," by Jeff Maddux
Roger Jacobi shares the 3 major categories you can start looking at today to start giving proactive advice to your clients, including: mis-categorization, inventory, and margin leak.
Thanks for reading! Looking to catch up on the news? Check out our previous issue, Cloud Accounting Weekly #28.