Get Work Done - Issue #5
How to get on top of your workflow plus Chad Davis' process for managing his 60-person, 100% remote firm
Welcome to "Get Work Done," where we dive into the nitty-gritty of running accounting and bookkeeping firms efficiently. This isn't your average newsletter – we're all about down-to-earth tips and insights that cut through the complexities, helping you streamline processes, embrace practical tech solutions, and boost your team's productivity.
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Small change, big difference
Another busy season is over, and you’re thinking about what you could have done differently to be able to work fewer hours and still hit your deadlines.
Maybe you’ve hardly slept well in the last 2 months, got through most days on 10 cups of coffee and fries, and feel exhausted.
What’s the small change you can make now to make a big difference for the next busy season? Get on top of your workflow and set up systems and processes for your firm.
Kellie Parks and Dawn Brolin have a lot to say about this. Kellie has built a lifestyle firm that allows her to travel while running a firm, and Dawn coaches softball even during the busy season. In a recent 3-day workflow challenge, they shared everything they know about getting on top of your workflow ahead of the busy season.
Watch the 3-part video playlist.
Firm spotl💡ght
LiveCA LLP, a.k.a the Canadian Online Accounting Firm is a Canada-based, fully remote Accounting firm with 60+ team members. Whether offering bookkeeping, corporate tax, CFO, or personal tax services, this team does it efficiently because they have a good process in place.
Partner and co-founder Chad Davis unpacks his process for managing the team, from being strategic about the size of the firm and the roles to hire for in the early stages, bringing in the right foundational team members, carving out a budget for non-billable roles, putting the right tech stack in place, and implementing the Entrepreneurial Operating System (EOS).
Take a listen below:
Excerpts below:
Roman Villard (Host):
At what point did you and your co-founder have to step back and assess “we need some actual process or actual parameters as to how we operate as a remote firm”?
Chad Davis:
If I think back to the stuff that we really leaned into around that 20-person mark, what worked for us operationally was that we carved out a budget for nonbillable roles that formed the basis of why people stayed, why they joined, and kept us afloat. We were also strategic about hiring. We had a head of tech; we had our ops manager; I was just starting to look up when they were hired in 2016, so three years in. The big investments that were made mid-journey, so far, have been around middle management as a support network for everyone
H🔥t topics
Accounting Firms Continue to Prioritize Work-Life Balance
In a world where competitors are finding creative ways to lure talent to their firms, more firm owners are prioritizing work-life balance:
“We’re a couple of years into this human capital issue,” said Jen Cryder, CEO of the Pennsylvania Institute of Certified Public Accountants (PICPA). And the problem has become more severe for employers that didn’t adapt.
Cryder said accounting is experiencing the same talent crunch many other professional services are seeing, but perhaps “more acutely” because of the specific educational requirements for public accounting. A CPA must complete 150 credit hours of college education, get a year of work experience, and pass an exam.
Culled from CPA Practice Advisor and written by Lizzy McLellan Ravitch for The Philadelphia Inquirer
Workers Of The World Unite: Embracing Technology In Every Job
In the ever-evolving landscape of the modern workplace, a new reality has emerged: Every worker, regardless of their field, is now a tech worker to some extent. This shift is not limited to the tech industry and IT; it encompasses every sector, ranging from healthcare, education, carpentry, food service, manufacturing, and retail. As technology permeates every aspect of our lives, adapting and continually retraining has become paramount.
Culled from Forbes and written by Brian Greenberg, CIO/CTO and partner at Fortium Partners.
Swipe this workflow template
Get the step-by-step checklist for helping your clients form new companies.
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Well done, friends!
FOMO events
APRIL 25
Optimizing Workflow: Key to Successful Client Relationships
PS: If you’d like us to spotlight your event in the next issue, send an email to marketing@financial-cents.com
Noteworthy
Keep track of all upcoming accounting conferences via this website and this blog article: Conference season is nearly upon us! Stay up-to-date on all upcoming conferences so you can plan ahead, schedule time off, and connect with colleagues IRL. After all, conferences are part of personal development,
FORBES America’s Top 200 CPAs: On April 15, 2024, Forbes published their inaugural America’s Top 200 CPAs list. Created exclusively by the Forbes editorial team, the list is a compilation of the best CPAs in public practice. They were selected from a collection of candidates sourced through independent nominations and accolades from societies and associations. Nominees were rated on a range of weighted criteria, including expertise, innovation, thought leadership, experience, service to the community and their profession, and responses to selected questions. (culled from FORBES)
Bookkeeping Client Onboarding Questionnaire Guide (+ Free Template): A bookkeeping client onboarding questionnaire is a structured set of questions to gather essential information about your client’s business, bookkeeping practices, and expectations. Think of it as a roadmap to a successful client relationship. By streamlining your workflow, it leads to a happier client experience. Learn more about it here and get a free template.
Tax season so far: Increasing the pace: The Accounting Today editorial team has compiled a stats report from the IRS about this year’s tax season. According to the report, the number of individual income tax returns received rose by more than 17.5% in just one week (from 90,315,000 as of March 29 to 101,849,000 as of April 5).
Until next time,
