Want to Scale Your Accounting or CPA firm? Focus on Workflows.
One of my clients asked me, “What is that one factor that allows us to produce accurate, efficient, and timely bookkeeping?” My answer was simple: workflows. Defining workflows for each client is absolutely crucial if you want to deliver a high-quality, efficient, and accurate bookkeeping practice. In our experience, the following are the top five […]
7 Employee Retention Strategies for Accounting firms and CPAs
Retaining employees has become a serious challenge for accounting firms and CPAs over the last few years. According to Accountants Daily, the average employee turnover rate for accountants is 13.4%. This number is higher than the average of 9.5% across almost all other industries. The biggest reason behind the high turnover rate in the accounting and […]
Hiring Certified Tax Preparer in 2023: Useful Tips to Consider
Planning to hire a certified tax preparer? You are not alone this tax season. Timely filing of taxes has great importance for businesses of all sizes but a lot of business owners due to limited time or bookkeeping knowledge fail to do the same. As a result, they either run out of time or fail […]
Ensuring Data Confidentiality & Security for Offshore Accounting Clients: The Finsmart Way
Cybercrime Magazine put the cost of global ransomware damages at 20 billion dollars in 2021. And a lot of it can be accredited to the international accounting industry as well. While financial damages are indeed worrisome, the damage caused to an accounting firm’s reputation after a cybersecurity breach is lethal. That’s because accounting firms and CPAs […]
Tips for Accounting Businesses to Scale Up During Peak Tax Submission Periods
“How to scale up business during the tax submission period” has become a popular query among CPAs and accounting firms in the United States. And we can clearly see why. Scaling makes it easy to cope with the mounting workload and meet business requirements without overstretching resources or undertaking unplanned hiring. The same is true […]
Strategies to Expand Accounting Business: Practical Tips for CPAs
There was a time when opportunities to scale accounting business were substantially limited, especially for CPAs who invested little in team and business expansion. But thanks to modern technologies, even small accounting firms in the United States are acquiring more clients and growing market reputations. Still, a lot of young CPAs are finding it hard […]
6 Accounting and Tax Software Widely Used By CPAs in the USA
There was a time when CPAs spent hundreds of hours manually managing books to keep company finances in good shape and calculating taxes the traditional way. Thanks to modern accounting and tax software, tasks like accounts receivable & payable management, bookkeeping, and tax filing are no longer herculean in nature. Modern accounting and tax preparation […]
7 Accounting Cyber Security Measures to Secure Business Operations
No CPA or accounting firm is taking cyber security lightly in 2022. According to Statista, the United States suffered 1,862 cyberattacks, leading to 298.08 million data breaches. Some industry sectors saw more significant cases of private data violations than others. And sadly, the accounting and finance sector is one of them. Just like CCTVs and staff […]
Reducing Attrition Rate in 2023: Useful Tips for CPAs and Accounting Firms
The Great Resignation has brought unique challenges for organizations across the globe. In 2022, employee attrition rates are unexpectedly high, and even seasoned CPAs and accounting firms are struggling to retain valuable bookkeeping talent. And rumor has it that it may get worse. Since CPAs and accounting firms across the globe are struggling with a […]
7 Questions to Ask Bookkeepers for Perfect Offshore Partnership
“What to ask a bookkeeper before hiring?” is one of the most commonly asked questions by businesses and CPAs that are planning to outsource. And it’s pretty clear why. As businesses thrive, bookkeeping and accounting become more challenging and time-consuming Engaging a bookkeeping agency will empower your company to manage routine bookkeeping work without investing […]