Archive for the ‘Helpful Information’ Category

Friday, March 24th, 2017

CPAFMA – The CPA Firm Management Association

I hope you are a member of CPAFMA. I also hope you have the opportunity to attend chapter meetings that happen around the country.

Here is where you can find a chapter near you.

I recently attended the Ohio Chapter of CPAFMA, hosted by the Ohio Society. To help you understand the value, I am listing the topics that were discussed in the after-lunch roundtable discussion. In the morning we had an amazing update about employment law, always an important topic for firm administrators, COOs, and HR Directors.

  • Practice Management Software
  • CCH Engagement vs. Thomson EngagementCS
  • Employee recognition
  • Fun things during tax season
  • Banking verifications (confirmations)
  • Competition
  • Thomson UltraTax (problems and issues)
  • Partner retirement
  • MP Transition
  • Helping partners find their seat on the bus
  • Employee time off during busy season.

If you need some answers and some quality advice from others facing the same issues – join CPAFMA.

  • It is literally true that you can succeed best and quickest by helping others to succeed.
  • Napolean Hill

Thursday, March 23rd, 2017

We All Must Learn To Deal With Difficult People

“If you have some respect for people as they are, you can be more effective in helping them to become better than they are.” – John W. Gardner

Yes, difficult people are all around us – friends, relatives and the people at work. We need to especially be equipped to deal with those difficult work people!

The Nitpickers: Critical, judgmental and perpetual complainers. (You don’t know any of these do you??)

The Megaphones: We answer the phone or we walk down the hall and these people talk non-stop for 20 minutes.

The Voiceless: These people have zero confidence or assertiveness. They’re full of whine, but rarely express an opinion.

The Bubble Busters: They have to be right – all the time. They love controlling and micromanaging.

The Volcanoes: The ones who are ready to fly off the handle at the slightest provocation. They explode and leave a trail of damage.

What do you do? Remain neutral. Without compromising, protect your space and maintain your emotions.

Don’t take things personally. You can’t control their behavior but you can control your reaction to it.

I like the description – “cool, calm and collected.” – – That’s you!

  • The two most powerful warriors are patience and time.
  • Leo Tolstoy

Tuesday, March 21st, 2017

Seven Secrets of Career Success

“If the wind will not serve, take to the oars.” – Latin Proverb

I was browsing through some old digital files and found the following. I remember using these “secrets” many years ago in a presentation I did for a community college’s new graduates.

I think they definitely apply to life inside a busy accounting firm.

Seven Secrets of Career Success

Become a quick change artist

Commit fully to your career

Speed up

Behave like you’re in business for yourself

Practice lifelong learning

Manage your own morale

Be a fixer – not a finger pointer

  • Find out what you like doing best, and get someone to pay you for it.
  • Katharine Whitehorn

Monday, March 20th, 2017

Use Email & Social Media To Remind Your Clients

“Nagging is the repetition of unpalatable truths.” – Edith Summerskill

My dentist and my doctor send me reminders about upcoming appointments. These reminders come via email, text and a phone message. It is all automated via their practice management software. I have always wondered why more CPAs aren’t using a tool like this.

We now live in the world of social media and digital communication. Be sure you are using these tools to remind your clients about supplying their tax information.

When I talk to firms, they often tell me that they call and remind their clients about furnishing their information. When I ask, “How many times did you call?” the answer is usually…. “Once”. Once is not enough.

Here’s an example of an email one of my clients sent out recently. Maybe it will help you compose your reminder message. It is important that the reminder only go to  those clients who are tardy – not to ALL clients.

Have We Received Your Personal Tax Information?

April 15th will be here before you know it! Have you turned in your personal tax information? Remember, in order to ensure a timely filing of your tax return (to avoid an extension), we must have your information by March 22, 2017. All tax organizers were sent to clients in December of 2016. If you need another copy, please let us know. Please be sure to bring us your information so we are able to get started. If you are waiting for a few items, not a problem! Bring us what you have, we will get started, and then bring in the additional information as it arrives.
 
If you have any questions regarding your personal tax return, please contact our office. Thank you for your help.

  • Nothing external to you has any power over you.
  • Ralph Waldo Emerson

Wednesday, March 15th, 2017

2017 Accounting Today Top 100 Firms

Dan Hood, Accounting Today

Dan Hood, Accounting Today

“There are lies, damned lies and statistics.” – Mark Twain

Those of us working in, or affiliated with, the world of public accounting are always interested in the performance of CPA firms across the country. What are they doing that we could do? How do their numbers look compared to ours? What new trends should we be aware of?

That’s why I wanted to share a link to a podcast from Dan Hood, Editor In Chief of Accounting Today. Their annual ranking of leading firms in the profession offers up a host of insights and secrets; in this podcast, Hood shares some of the most interesting, such as, over-all growth in revenue was 8.8%

If you don’t have time, right now, to listen to the entire 13 minute podcast, bookmark this page and take time over the weekend (or after mid-April) to listen and learn.

Here a link to the podcast, A Deep Dive Into The Top 100 Firms.

  • It is the mark of a truly intelligent person to be moved by statistics.
  • George Bernard Shaw

Tuesday, March 14th, 2017

Practice Management Software

“The perfect is the enemy of the good.” – Voltaire

I often receive questions about the pros and cons of practice management software. Which one should we be using? Is one better than the rest? What’s the best one for a small firm? What’s the best one for a large firm?

Recently, Accounting Today published A Comparison Guide To Vendors’ Offerings.

Per the article accompanying the Guide…. Looking at the accompanying comparison chart, you will notice that different vendors have taken very different approaches with their application. That’s a good thing, as it offers a wider variety of capabilities that will hopefully sync up with your firm’s needs without providing lots of unneeded functionality.

You will find the article here and from it you can access the Comparison Guide.

  • No matter how great the talent or efforts, some things just take time. You can't produce a baby in one month by getting nine women pregnant.
  • Warren Buffett

Monday, March 13th, 2017

Give Them A Weekend!

“I’m not driven by killer ambition. I’m not a workaholic. I’m a good team player. I don’t have to be captain, but I do want to play on a winning team.” – Jane Pauley

FullSizeRenderAs March 15th nears, every year, I think of all the people I know working inside growing, successful accounting firms.

They have been working tirelessly beginning more slowly in January picking up speed (and extra hours) throughout February and putting renewed effort leading up to the March 15th due date.

CPA firm leaders, please consider giving your entire staff a real weekend on March 18 and 19 – the first weekend after the March 15th due date.

We did this at my firm for years and it was greatly anticipated and appreciated by our people.

Now, the good news is that many accounting firms have eliminated Saturday work during tax season completely (except for those die-hard partners that always work weekends).

Your team will come back to work on Monday morning with renewed vigor to focus on the tasks ahead, leading up to April 18. Their families will also be very happy.

  • There is only one way to avoid criticism: do nothing, say nothing, and be nothing.
  • Aristotle

Friday, March 10th, 2017

Create An Inspired Workplace

“Great vision without great people is irrelevant.” – Jim Collins

Recently, Sharlyn Lauby, HR Bartender, posted a story about Kronos (a provider of human capital management cloud solutions) and how they have created an exceptional candidate and employee experience.

“Being a great place to work is quite literally one of a small number of high-priority imperatives that are communicated to all employees each year as part of the company’s overall business strategy. In other words, being a great place to work is every bit as important as our traditional business priorities as a global software provider, such as application development and migrating customers to the cloud.”

Can your CPA firm make a similar statement?

Here are 3 ways to improve the candidate experience. The headlines are from the article, the descriptions are mine directed to public accounting:

Make it easy for job seekers to find and apply for jobs – Visibility on the college campus is imperative. For experienced hires, you have to be where candidates are and that means social media. One experienced tax manager I met recently told me she joined my client firm because she moved to their city and found them online. From her online assessment, they looked like a firm she would enjoy… and she does!

Create a robust internship experience – I strongly recommend that you treat your interns like full-time employees.  Subsidize their parking, provide them with business cards, involve them in all team meetings and in some committee meetings or task forces. The MP should take them to lunch, individually and in small groups, etc.

Give candidates a realistic job preview – Be very open and honest when you talk to candidates. I know a very successful CPA firm that has an extensive interview process. People of all levels are involved and they tell the truth! Working in public accounting requires intelligence, hard work and flexibility. There will be extended hours during certain times of the year.

Read the full article to learn about 3 Way to Improve Employee Experience, too. Upward feedback is part of it!

  • Human resources isn't a thing we do. It's the thing that runs our business.
  • Steve Wynn

Thursday, March 9th, 2017

Top Blogs & Websites for Accounting & Tax Pros

blogaware“Awards can give you a tremendous amount of encouragement to keep getting better, no matter how young or old you are.” – Alan Alda

I am delighted to be included in the 2017 Feedspot ranking of Top 100 CPA Blogs and Websites For Accounting & Tax Pros.

Feedspot allows you to read all your favorite blogs in one place. I am No. 45 on the list.

Maybe you aren’t aware of all the great blogs being written for CPAs. This list will be a valuable resource for you when deciding which blogs to follow and maybe inspire you to write a blog yourself!

Thank-you, Feedspot!

  • To refuse an award is another way of accepting them with more noise than is normal.
  • Mark Twain

Saturday, March 4th, 2017

Lighten-Up, It’s The Weekend – The Generations

“Life your life and forget your age.” – Norman Vincent Peale

The Greatest Generation and the Silent Generation have, for the most part, left the workforce. You are dealing with Baby Boomers, Generation Xers and Millennials. Generation Z is approaching your doorstep.

Here’s a recent run down on the numbers. Gen Z, as you can see, will bring big numbers into the workforce.

Have a great weekend!

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  • A diplomat is a man who always remembers a woman's birthday but never remembers her age.
  • Robert Frost