management

fifteen strategies for first-time supervisors

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partners should set staff up for success.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: my boss asked me to call you. i am a staff accountant with five years’ experience. i am having a lot of stress trying to manage everything i have to do. i am juggling supervising people i don’t know how to supervise, being managed less by those above me and having to figure out more for myself – including things i never did before or in industries i never worked on previously, keeping current with changes in accounting rules and taxes (because i am more like a generalist and clients ask me everything), never seem to have any free time, juggling my schedule because most of my clients are never ready when they say they will be and being accountable to my boss for everything i do plus what the staff working under me does.

more: no one listens to you? change how you talk | free consultation? not always | referral fee? forget it | how much is your tax practice worth? | merge in lower-priced work without losing out
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

so how do i do it all? how can i prioritize all my responsibilities?

response: wow! deep question! it seems there is very little written for “entry-level” supervisors. but plenty for people already doing it.
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no one listens to you? change how you talk

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man intently listening to woman in office

it might be more of a workaround than a solution. but it gets results!

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: i notice that most of the time my staff doesn’t listen when i talk. how can i make them listen?

more: free consultation? not always | measure knowledge gaps (then close them) | should you offer financial services? | ready to retire? selling your practice is no strategy | 20 things you need for a business valuation
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

response: i find this issue very widespread. i believe there is an epidemic of people not listening, not just staff.
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it’s time to do the uncomfortable

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change can be difficult, but it can also be the key to success.

by seth fineberg
at large

yes, it’s that time of year again when proclamations of change are made, and everyone professes to be resolute in their goals.

the fact is that most of these statements don’t happen, despite all the best intentions, but let me give you one prescription for the new year. hopefully, beyond if accountants and the profession have any hope or goal of change, you need to do the uncomfortable.

more fineberg: jeremy sulzmann: can intuit mend fences with accountants at qb connect? | meet basis, the new ai bookkeeper on the block | is this when accountants start taking freshbooks seriously? | you’re doing email wrong  |  careful… you may be advising! | when live events fail | getting real: accounting tech decisions you need to make today | accounting tech doesn’t have to be daunting | who’s in control? you? or your clients? |  time management rule #1 for accountants |  plan to go ‘live’ post tax season |  why vc is a bigger threat than ai  |   what does taking control of your firm mean? | accountants need each other more than ever | marchternity: just say ‘no’ | some thoughts on in-person events | so you think you know accountants? | what bogs down accountants

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

what does it mean to “do the uncomfortable”? it can include nearly anything outside of one’s comfort zone, ranging from not responding to every client call or email to working comparatively fewer hours using new technology to increase efficiency. it could even mean posting entry-level positions at a higher pay (you are raising fees anyway, yes?). and maybe, just maybe, embrace more diverse staffing practices.

change, in and of itself, is uncomfortable and not for everyone. it also doesn’t have to be anything major. these are incremental steps to improve your life and the life of your firm.

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don’t make firm profitability a goal

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an example from outside the accounting profession.

by marc rosenberg
the rosenberg practice management library

it has been said that organizations should never have profitability as a goal. why? because profitability should be the result of an organization’s efforts, not its goal.

more: core values: why your firm needs them | five keys in compensating new managing partners | what partners do and don’t deserve | five steps to transition to partnership | disturb the present to improve the future
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

profitability is a measure of success in accomplishing core business goals. the disney corporation probably says it best in their mission statement, which is short and sweet, but very powerful: “our mission is to make millions happy.”
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use timesheets for productivity, not billing

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back office support calls for flat rates. here’s why.

by penny breslin
it’s not just the numbers

let’s get to the big questions that confound professional service providers of all types in today’s tech environment:

  • how do i charge my client for these services?
  • how do i continue to get paid?
  • how do i charge hourly for processes that will be taking less and less time because of the application of technology?

more: best practices for source doc permissions and handling | sixteen guidelines for naming conventions | you have to manage three kinds of procedures | tech tips for back office support | decoding accounting tech (and all those acronyms) | digital marketing strategies level the playing field | eight tasks to delegate today | advisory services done your way
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

fixed pricing

flat-rate billing is the logical choice for back office support (bos) services. this fixed pricing is typically used for monthly recurring work. we can do this by knowing how long it takes to create any given transaction. there will be swings in time, but the idea is that the fixed monthly rate considers the busiest season or months for the business. that way, on less heavy months, you receive the same rate and it makes up for the times when the workload increases.
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five reasons to implement change orders

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man and woman looking down at document

plus five steps to follow.

by august j. aquila
price it right: how to value accounting services

accounting firms, like any other professional service providers, may use change orders for several reasons. here are a few key reasons why accounting firms should consider utilizing change orders:

more: why you need progress billing | sixteen marketing activities to try | the four steps of your personal marketing process | how does your firm measure up? | six questions before asking for all the referrals you deserve | five rules for a marketing orientation | ten keys to marketing success
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

  1. scope of work changes: change orders allow accounting firms to document and address any changes in the scope of work requested by their clients. these changes could involve additional services, alterations to existing services, or changes in project timelines. by using change orders, accounting firms can clearly define the new requirements and avoid any misunderstandings or disputes with their clients.

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why you need progress billing

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smiling woman wearing glasses, looking at computer screen

seven steps to setting it up and four benefits.

by august j. aquila
price it right: how to value accounting services

there are many things that are critical for a successful client service engagement. in my mind, there are two that should be at the top of your list.

more: sixteen marketing activities to try | make your practice better | eleven marketing strategies for smaller firms | five questions for developing your marketing plan | you only have four strategies | the damage that traditional fee methods do
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

number one is providing the client with a progress report or reports. number two is making sure that you progress bill and provide a change order if the scope of the engagement changes. doing both ensures that you will have a happy client and get paid promptly for your services.
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you have to manage three kinds of procedures

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smiling woman using smartphone

need help with internal procedures? here are three apps for organizing them.

by penny breslin
it’s not just the numbers

there is a symbiotic relationship between your technology and your processes. you have to consider both, or you won’t get the full benefit.

more: federated search: what it is, why it matters | creating a back office support playbook | strengthen client ties with workflow tools | understand your online marketing options | narrow your prospects by choosing a vertical | build your team, then choose your clients | how back office support adds value
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

mckinsey global has been researching the impact of automation around the world, and (no surprise) found that when companies try to retrofit technology to fit into existing processes, “companies end up with a patchwork of incongruous technology tools that automate separate and distinct parts of the process. this approach is fine for capturing the first 5 percent or so of automation’s impact. but unlocking the full potential requires a fundamentally different way of thinking. to capture that potential, managers must be willing to re-engineer their processes completely.”
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make your practice better

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two seated men looking at laptop screen together

are you helping clients achieve their goals?

by august j. aquila
price it right: how to value accounting services

there is only one person who can make your practice better. that person is you if you are a sole practitioner. if you are a multi-partner firm, then it’s up to all the partners and senior staff. let’s explore how you get your firm to the next level.

more: five tips for cross-selling and upselling | the four steps of your personal marketing process | how does your firm measure up? | six questions before asking for all the referrals you deserve | five rules for a marketing orientation | ten keys to marketing success
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

do you tolerate mediocrity?

tolerating mediocrity is the death of many good firms. whenever and wherever you see it in your firm, stamp it out fast.
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federated search: what it is, why it matters

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.
computer screen littered with icons
take a look at your team’s desktops.

 

imagine a world without subfolders.

by penny breslin
it’s not just the numbers

much has been done to help people deal with information overload. desktop search tools have made it easier to find a piece of data hidden among all the other data stored on your system. but what about all the data available on portals, stored in shared drives, and trapped in business applications, let alone the valuable information stored in various employees’ heads?

more: creating a back office support playbook | tech tips for back office support | decoding accounting tech (and all those acronyms) | digital marketing strategies level the playing field | eight tasks to delegate today | advisory services done your way | ai is not your enemy
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this information is vital to your firm. employees need this data to do their jobs, and they need it quickly.
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train now before it costs you down the road

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your time investment now could reap dividends during tax season. 

by frank stitely
the relentless cpa

we’ve all heard it.

ask if an assigned project has been completed and get the, “it’s done, but …” followed by a few reasons why said project is still – let’s be honest – incomplete.

more: keep clients from “balance due” shock | stop clients from performing “favors” | control your time: avoid ambush meetings and calls | make fewer mistakes, increase revenue and capacity | six ways to create a millennial-friendly firm
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

let’s examine how we got a “done but” society. a lot of this will sound like, “back in my day, sonny …” old man nonsense, and a lot of it is.

however, i promise you a solution after my sociological exploration of 21st-century culture. you won’t need a degree in sociology to understand this.

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“done” only has one meaning

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“done but” increases wip and turnaround time. profits go … well, you know.

by frank stitely
the relentless cpa

in my last book, i recommended hiring younger staff. in that book, i cautioned that you might have to teach very simple tasks like breathing and using the bathroom to your newbies.

more: keep clients from “balance due” shock | stop clients from performing “favors” | who needs fall tax planning? clients … and you | it’s okay to say no to clients (even the large ones) | control your time: avoid ambush meetings and calls | make fewer mistakes, increase revenue and capacity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

one reader posted that she didn’t believe it was the responsibility of an admin department to teach bathroom use. she was new to this hot new writing technique called sarcasm, but she did a great job making my point that you have to teach your staff a lot of basic things.

one of those teaching tasks is the meaning of “done.”

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surge pricing: what works for uber could work for cpa firms

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limited supply puts you in the driver’s seat.

by bill penczak

the serenity prayer states, “grant me the serenity to accept the things i cannot change, the courage to change the things i can, and the wisdom to know the difference.” keep that in mind for a moment.

more: four considerations for effective client culling | partner accountability: the only two things that really matter | chase birky: overcoming paralysis by analysis | o.d. lanier: stepping into advisory | are you too generous with your write-offs?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when preparing tax returns and financial statement audits, one of the biggest challenges cpa firms face is either late or incomplete client information.

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