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Articles by Stonewall Thomas
The reality is that many accountants are making more money per hour of their time with payroll services than other services. In many cases, successful payroll firms are processing hundreds of payrolls using only 2-4 paraprofessionals or clerical staff. That means they have reduced the costliest component of payroll processing – the labor cost – to a bare minimum. That’s how they realize 50% - 70% gross margins from payroll services.
Let's see when and how approval automation complements QuickBooks Online QuickBooks Online is an accounting software trusted by millions of small businesses, accountants, and bookkeepers. But when tighter controls are required, especially with regard to the approval process, it cannot cover all business needs. You'll learn about Proper Authorization Processes End-to-End Automation Spend Control Working Mobile Handling Audits Dealing With Vendor Approvals
New Normal, New Challenges: 6 Growth Strategies for Small Business
Nov 22nd 2021 Small businesses that survived the economic downturn of 2020 and rebuilt in 2021 are poised to grow. Here’s how they can do it. If 2020 was a year of survival for small businesses, 2021 has been a year of recovery. Now it’s time for small businesses and firms to again focus on rapid growth. There are a few best practices that are always helpful for sparking growth—especially right now.
Year-End Checklists for Accountants and Bookkeepers
Brought to you by Nov 5th 2021 In the couple of months leading up to the calendar year-end, there are several tasks you and your team should be carrying out in order to make sure you’re ready when busy season kicks off. The period from November through March can be incredibly stressful for bookkeeping firms.
We’re Here to Answer Your Biggest Questions
Oct 27th 2021 Ask AccountingWEB Over the years, we've heard from readers looking for answers on everything from IRS refunds and tax code changes to PPP loan forgiveness. We want to make sure the issues impacting you most are addressed. What do you want to see answered on AccountingWEB? Tell us in this simple form. Our editors will evaluate your question and have it addressed by the appropriate expert.
Client Service Is Accounting Firms’ Greatest Competitive Weapon
Oct 27th 2021 Competition is heating up for accounting firms. How can firms respond? Master client service like never before. Here’s how. The competitive landscape for accounting firm is tougher than it has ever been, with client support becoming commoditized and potential clients increasingly turning to online alternatives. Firms need to protect their revenue and find a way to continue to drive new business.
Going Concern Jobs Archives
If you are interested in a fully remote professional opportunity, apply today using the links below! Talent search for all positions is managed by Accountingfly on behalf of the client firms. Remote Audit Jobs Remote Audit Manager CPA – CPA firm located in Northern Virginia is hiring an Audit Manager responsible for supervising, directing, and reviewing […] Looking for a truly remote accounting job—one that doesn’t transform into an in-office grind after a few months?
What clients want in 2021 and beyond - and how to find them
Oct 7th 2021 To be better prepared for client demands, download this free guide to discover: The 7 things your clients want in 2021 and beyond How to differentiate yourself from the competition How to find (and keep!) clients Businesses have always turned to their accountant in times of need, and recent times have tested this rule to its limit. Be better prepared for what your clients are looking for by downloading this guide today.
Remote working: An accountant’s guide to the new world of work
Oct 7th 2021 Remote working is no longer a ‘nice to have’ incentive that employers use to attract talent. It has become an essential part of business continuity and crisis management. Naturally, this is something accounting firms now need to factor into their day-to-day tasks and processes—as well as their wider strategy—accordingly. The move to remote working means you’re facing new challenges you will need to overcome by making some changes to the way you think about communication.
5 Business Owners Share Post-COVID Work/Life Balance Tips
Brought to you by Jul 29th 2021 Five business owners share the tools, habits and technology that have helped them ease into a manageable post-COVID routine. All signals point to a return to business as usual. Unfortunately, business as usual isn’t always easy. In an always-connected, work-from-everywhere era—Is it even possible to run a successful practice, or effectively manage a book of business, without getting burnt out?
How to Sell CAS in 2021: Your First Steps
Brought to you by Jul 9th 2021 The accounting industry is changing, and with it comes a change to how accounting firms service their clients. With economic uncertainty being the norm, your clients need expert advice to navigate things like improving cash flow, overcoming challenges, and creating profitable business models. But for many firms, an additional issue arises: how do you introduce and sell these new services?
Have Accounting Firms Changed Forever? Here’s What Accountants Say
Brought to you by Jul 8th 2021 Remote work, flexible hours, hiring at a distance. Which changes have accounting firms made, and are they here to stay? Which changes did accounting firms make as a result of the pandemic—and which ones worked? The 2021 Post-Tax Season Survey reveals all. More than 250 firms weighed in on remote work, flexible hours, cybersecurity, staffing, CAAS and other pressing issues facing firms today.
Maximize the ROI of Your Firm with a Best-of-Breed Tech Stack
Jun 24th 2021 Running a successful accounting firm is like playing a game of chess. You need to start with the end in mind and plot every move thinking many steps ahead. Of all the decisions you'll make, building a best-of-breed tech stack that underpins a streamlined workflow should come up on top of your list. Why? Because they are essential to serving your ultimate goal—having a profitable firm that's making max return on your investments, personally and financially.
An Essential Handbook for Women in Tax and Accounting Advisory
Brought to you by May 6th 2021 Women continue to play a vital role in the tax and accounting profession, but the journey is far from over. While women continue to play a key role in the accounting profession, evidence suggests that many are not making the leap from compliance work to becoming more proactive, strategic tax advisors, despite having the knowledge to do so.
An Essential Handbook for Women in Tax Advisory
May 6th 2021 Women continue to play a vital role in the tax and accounting profession, but the journey is far from over While women continue to play a key role in the accounting profession, evidence suggests that many are not making the leap from compliance work to becoming more proactive, strategic tax advisors, despite having the knowledge to do so.
Avoid the E-Sign "Circle of Frustration"
May 5th 2021 The ability of your e-sign solution to master the tax-specific workflow is critical E-signature solutions are a blessing for many firms who use them to cut hours from client engagement bottlenecks, but there are many variables that make some solutions more of a pain than a cure. This white paper describes how to spot the features specific to an accounting firm to help you find the right one.
A Checklist For Accounting Firm Data Protection
May 5th 2021 Data protection is always important, and that includes the small accounting practice. The constant onslaught of ransomware and cybersecurity breach headlines has made many CPAs numb to these threats. Most have relegated the responsibility of protecting the firm to their internal IT personnel or to an external IT provider with the assumption that it is “being handled.” Knowing which precautions to focus on can be confusing.
81% of Data Breaches Due to Compromised Passwords
Brought to you by May 3rd 2021 Learn why even the most complicated keystrokes are no longer enough—and how to easily secure your firm’s data in 24 hours. What does it mean to be “password protected?” These days, it doesn’t mean much. According to the Verizon Data Breach Investigations report, 81% of reported data breaches have been because of a password hack.
Ransomware Attacks Happen Every 5.5 Minutes-That’s 8,000 Times A Day
Apr 7th 2021 Download "How the Cloud Helps Deal With 3 Major Security Threats" to learn how to protect your firm with hosting technology. Ransomware attacks happen once every 5.5 minutes. What’s worse? A ransomware attack is only one type of cyber-threat. Compounded with phishing attempts, lurking Trojans, advanced persistent threats (APT) that often go unnoticed for months...it’s almost unfathomable how often users are threatened.
Accounting Firms Tax Season 2020 Survey Report
Brought to you by Feb 25th 2021 The results are in! Learn what accounting professionals thought of 2020s extended tax season. Tax season 2020 feels like it just ended, and accounting professionals are already gearing up for another record-breaking busy season. Only this time, they may not have the "luxury" of a nationwide deadline extension. So, what can firms do to prepare to...prepare?
Ask AccountingWEB
Jan 28th 2021 Here at AccountingWEB, we LOVE a challenge. Just ask! Over the years, we've received hundreds of emails from readers looking for answers on everything from IRS refunds and tax code changes to PPP loan forgiveness. Knowing we’re offering valuable help to accounting professionals is what gets us out of bed in the morning. So, what questions would you like answered? Let us know in the form on this page, and you may just see the answer written up in a full article on our website.
Our Accounting Experts Will Answer Your Questions
Here at AccountingWEB, we LOVE a challenge. Over the years, we've received hundreds of emails from readers looking for answers on everything from IRS notices and tax code changes, to PPP loan forgiveness. Knowing we’re offering valuable help to accounting professionals is what gets us out of bed in the morning. So what questions would you like answered? Let us know in the form on this page, and you could see the answer written up in a full article on our website.
It's All About the Experience
In association with Jan 27th 2021 During the next three months, you’ll interact with more clients than any other time of year. Are you ready to give them the experience they want? According to Gartner Research, 89% of businesses today expect to compete mostly on client experience, versus only 36% a few years ago. Clearly, mastering client experience is key to effectively competing for the best clients in today’s landscape.
Transform Awkward Pricing Conversations into Wins
Jan 15th 2021 Even if they genuinely enjoy meeting with clients, most accountants hate the inevitable question, “So, how much is this going to cost?” This is particularly true during the busy season. This indispensable guide examines why this conversation is just so awkward and tells you how to create a genuinely positive interaction when price comes up.
Avoid the Hidden Security Risks of Remote Work
Jan 10th 2021 Working remotely can introduce some serious challenges around data security that don't stop with your network! This white paper highlights key areas where you and your staff might be exposed, and provides a checklist of remedial actions you can take to make sure disaster doesn't strike this April.
Free eBook: Mastering Online Presence in the Modern Firm
Jan 5th 2021 Meet your prospective clients where they are—online! Continued success in the accounting profession is not getting any easier. Even before a pandemic forced us to learn how to live virtually, online presence had become the face of business. Can your prospective clients find your firm in their new online neighborhood? Here’s how important it is: 90 percent read business reviews before buying. 68 percent are more likely to buy from businesses with positive reviews.
Accounting Firms Post-Tax Season 2020 Survey Report
Brought to you by Jan 5th 2021 The results are in! Learn what accounting professionals thought of 2020s extended tax season. Tax season 2020 feels like it just ended, and accounting professionals are already gearing up for another record-breaking busy season. Only this time, they may not have the "luxury" of a nationwide deadline extension. So, what can firms do to prepare to...prepare?
2021 Tax Season Handbook
Dec 9th 2020 The next few months are likely to be even more stressful than they usually are. PPP loans, Stimulus payments and the ongoing impact of the TCJA will all add to the stress of dealing with a remote client base and workforce. AccountingWEB is here to help. In this white paper, Susan Tinel takes you through the critical technical tax changes, and lays out a process checklist to help manage your workload.
Transforming Your Accounting Services Personnel
Brought to you by Dec 7th 2020 Get the staff-specific benchmarks that have been proven to help successfully launch Client Accounting and Advisory Services (CAAS). It's likely that during traditional accounting appointments, you may have shared advice on how to cut costs or boost savings with your clients. But, what would happen at your firm if you began monetizing that advice?
Help Your Clients With Accounts Payable Best Practices
Nov 24th 2020 Detecting fraud shouldn't be the only thing on your mind regarding your clients' vendor relationships. You may not have previously considered outsourcing accounts payable services when adding value for your clients, but maybe you should.
Is your firm "flirting" with disaster?
Brought to you by Nov 10th 2020 How CPA firms can find the security help they desperately need. Cybersecurity is probably a bigger threat to CPA firms than most firm owners realize. Accounting firms are the most targeted type of business among small companies, and a successful attack could wreck a firm financially and destroy its relationships with clients. Firms that try to manage security without help are putting themselves in danger.
Fueling Practice Profits with the Cloud
Brought to you by Oct 20th 2020 In this guide created for accountants, CPAs, and bookkeepers, take a dive into the realities of today’s market and learn how to ride the wave of change to a treasure trove of new opportunities enabled by cloud technology.
Fuelling Practice Profits with the Cloud
Brought to you by Oct 20th 2020 In this guide created for accountants, CPAs, and bookkeepers, take a dive into the realities of today’s market and learn how to ride the wave of change to a treasure trove of new opportunities enabled by cloud technology.
Working from Home When Kids are Homeschooling
Brought to you by Oct 9th 2020 Chances are good that your kids will be school at home this fall while you’re trying to work. Here’s how to manage without going crazy. It’s a fact of life in the pandemic: kids learning at home while parents also try to work at home. Whether it’s all day every day, a few days a week or even a few hours a day, some level of time conflict is inevitable. Family conflict doesn’t have to be.
Anatomy of a Pricing Conversation
Oct 1st 2020 Chad Davis from Live CA answers challenging questions regarding pricing for accounting firms Pricing is one of the most challenging areas for any accounting firm and dredges up lots of questions. The most common are: What should you charge for? How much should you charge, and on what basis? To make things tougher, when your client gets involved, you have to present your pricing in a convincing way. If you are facing this (or think you will in the near future), take a look at this guide.
Security for Accounting Firms
Sep 9th 2020 Ensuring data is secure isn’t just a bonus or an extra feature accounting firms can offer clients. And per the IRS—it’s the law. CPA firms that don’t protect their clients’ data face fines, compensatory costs, and other financial hits. But the biggest threat they face is a loss of their reputation for being trustworthy and reliable—and, as a result, the loss of both existing and potential clients. One security slip can literally destroy a firm.
Emerging Stronger Than Ever in 2020
Jun 25th 2020 The secret to emerging from the COVID-19 crisis in better shape than before is RELEVANCE! The recent coronavirus crisis has, to put it mildly, shaken up businesses. For many firms the only way of surviving and thriving has been to ask, "What is my core value proposition to my clients?" All firms should be asking that question, and this guide provides clear guidance for how you should go about answering that. Fill out the form on this page for an instant download.
How to Speed Up Cash Flow and Boost Profits
Jun 18th 2020 Focusing on the cash flow within your practice, whatever its size, can make the difference between a robust, profitable firm and business failure. What levers can you pull to improve your cash position, accelerate cash flow, and boost profits? This incredibly comprehensive guide lays out in detail the steps you can take. Fill out the form on this page for an instant download.
Improving Your Firm's Cash Flow
May 20th 2020 Many accountants are realizing that cash flow is critical to weathering a crisis Clients across the country are reaching out for advice and support during the COVID-19 pandemic, but cash flow is equally important to accounting firms. Clients are struggling, and tax compliance is a slow source of revenue. So how can you avoid the cash flow crunches that might threaten your own business?
5 Steps to Switching to a Virtual Tax Firm
Apr 6th 2020 Starting a tax practice is a large undertaking that requires a lot of strategic thinking, but a virtual tax practice has even more aspects to consider. Across the US, firms are battling to find the new normal after suddenly and unexpectedly having to "go virtual," but what if you decide to make the switch more permanent?
Coronavirus: Protecting Your Employees and Business
Mar 20th 2020 We offer some guidelines that will help employers and employees cope with the situation of working during the COVID-19 outbreak. In the context of the rapidly-evolving COVID-19 crisis, it's important for you and your clients to mount a coherent response. This comprehensive guide addresses core issues around pay, leave, unemployment, and workplace safety for you to refer to or to pass on to your clients.
Building a Payroll Practice that Pays Off
In association with Jan 30th 2020 Research suggests that on average, a firm that offers payroll services spends around 18 hours per month doing it. Moreover, many firms are struggling to see a significant return on that investment. If you are in that situation it's easy to feel trapped. If you recognize this then it may well be time to re-evaluate what services you should be offering and how you go about executing them.
Client Migration Strategy: A Guide To Improving Your Firm's Cash Flow
In association with Jan 21st 2020 An insightful approach to improving your firm's cash flow If you find yourself sometimes struggling to keep cash flowing smoothly at your firm, rest assured you are far from alone. Most firms (especially those with an emphasis on tax deadlines) can find that the quieter parts of the year can be the most challenging. The majority of advice out there is fairly obvious.
A Guide to Helping Your Clients Plan for the Future
Oct 25th 2019 As demand for cash flow forecasting grows within the SME sector, more and more accounting firms are opting to include it as a service to their clients. Not only does it provide an invaluable service that helps keep clients afloat, it has significant benefits for the provider. It's an additional and often untapped revenue stream, but allows for deeper insights and a launch pad for further services. So where do you start?
Strategies for Saving Time on Billing and Client Onboarding
Oct 23rd 2019 Have you ever been frustrated that non-accounting admin can be such a time suck? Well you're not alone. Cindy Squires, CEO of Mile High Bookkeeping felt the same until she discovered Practice Ignition which she describes in this case study as a "Game Changing solution." Find out how you too can save 2 hours per client per month with this awesome technology. Fill out the form on this page for an instant download.
How CPAs Should Advise Clients On Tariffs
Oct 17th 2019 With tariffs almost constantly in the news, it's important to remember that they can, and will, impact your clients. Even if your client isn't directly affected it's more than likely that the fallout on their customers and suppliers will impact them. As a CPA with a thorough understanding of how tariffs are implemented, you can offer critical advice to not only prepare your clients, but also help them mitigate some of the pain they might be causing.
Exploiting Your Niche in Accounting
Oct 4th 2019 This guide will be published in late October, and you'll be the first to receive a copy by email when it's ready. Restricting your potential client base to a narrow vertical may seem counterintuitive to some, but there are huge benefits in terms of per-client revenue, client retention, and competitive advantage for those who get it right.
A New Take on Where the Pain in Accounting is REALLY Coming From
Jul 26th 2019 How to strengthen your client relationships and boost your accounting profits. In this insightful paper, Dr. Chandra Bhansali sets out a new perspective on why software designed to put the emphasis on the client doing the work of the accountant is causing more pain than it cures. This fascinating philosophy goes against the grain of traditional thinking in the accounting software space and sets out a new paradigm that puts the power in the hands of the accountant.
Exploiting the Tax Advisory Business Model
Jul 25th 2019 This guide will be published in October, and you'll be the first to receive a copy by email when it's ready. As many tax preparers realize the scale of the opportunity that providing proactive tax advice to their clients presents, more and more are following that path. But how do you get started?
BQE Software Launches Core HR to Help Businesses Manage Employees for High Productivity
Subscribe to Newsletter LoginRegister Brought to you by Jul 24th 2019 NEW HR SOFTWARE, DESIGNED FOR PROFESSIONAL SERVICE FIRMS, MAKES IT EASY TO MANAGE PEOPLE, PROJECTS, AND PROFITS FROM ONE SYSTEM.
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