do you have the client accounting services mindset?

you’re the professional. ponder that a moment.

by hitendra patil
client accounting services: the definitive success guide

it was the 10th of may, 2012.

over dinner on that quiet mid-spring evening, at a classic traditional italian restaurant, i met the owner of one of my largest clients, only after about five years of providing services to his firm. his firm had chosen a particular niche industry to serve and only that. he was doing well – over $3.5 million in annual revenue, growing consistently, and employing 39 staff members. in any given week, two new clients were being onboarded via a very detailed process, moving clients’ accounting databases and processes into his firm.

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he would not take on any new client unless the client handed over all of the accounting work responsibilities to the firm.

all or none.
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six tips for setting compensation

young woman holding giant dollar sign in modern office

plus 17 extraordinary benefits to consider offering.

by marc rosenberg
cpa firm staff: managing your #1 asset

“if you pick the right people and give them the opportunity to spread their wings and put compensation as a carrier behind it, you almost don’t have to manage them.” – jack welch

“pay your people the least possible and you’ll get from them the same.” – malcolm forbes

every cpa industry survey we’ve seen for decades shows that compensation is either no. 1 in importance to staff or close to it.

more: staff crave advancement and challenge | what leadership looks and feels at cpa firms | eleven things that good mentors do | give the recognition your staff needs | the importance of great bosses | how remote work is impacting accounting firms | make work flexibility work for everyone | why staff leave cpa firms … and how to stop them | how to solve the big disconnect in talent management | what relevance means for staffing in accounting | how accounting staffing has changed
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our feeling is that compensation is the ante to enter or stay in the game. put another way, according to jeremy wortman:

if college graduates are looking for their first job, or if a young person with a little experience is job hunting, compensation is huge. if a person has two offers, one for $60,000 and the other for $65,000, the higher offer will get the person almost every time. but if the offers are $500 apart and the person likes the firm offering the lower salary better, it’s likely that the lower-paying firm will get the nod.
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what to do when a partner becomes disabled

man seated at desk in front of empty chair

what does the partnership agreement say? oops …

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

question: my partner has been out sick for the past 3½ months, and he has been continuing to get his draw. it looks like he will be out for some time more, but not sure how long.

more: do as little as possible | want to merge? here are 23 things to request | i’m just starting out; why join an association? | don’t blame the client for your location | realign partners with monthly meetings | i’m 76. should i slow down? how? | who to hire when it’s time to grow | hourly billing doesn’t cover the value; now what? | ask for what you’re worth | the top tip for reviewing tax returns | you have to start somewhere | two options for collecting past due fees | you can’t win with lowballing | nine reasons not to specialize | when board service gets tricky
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he does make some calls from home, but isn’t really doing any work. is there anything i can do?
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