Issue #13 - When work becomes joyless
CPA to CFO and how to make the transition, plus the inspiring story of Nick Sinclair
Welcome to "Get Work Done," where we discuss the complexities 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.
Brought to you by Financial Cents and delivered to your inbox every 2 weeks.
Small change, big difference
“I’ll send the documents to you tomorrow, I promise”
This is the fifth time your client has told you this. That is, after multiple calls, texts, and even mild threats.
On top of that, you’re spending 10+ hours a week on other manual tasks like recreating recurring work and following up with multiple team members about their tasks.
You find yourself having little to no time doing the work you actually enjoy — helping businesses and/or individuals make good financial decisions that set them up for success. As a result, work has become joyless and unfulfilling.
What’s the way out?
A small change you can make to see a big difference (apart from going on a three-week vacation to the Maldives 😉) is to automate as many low-level, repetitive tasks as you can.
Working towards the September 16 tax deadline? Automate your processes, from receiving signed engagement letters to getting information from clients and updating them when their project is complete.
Use tools like Zapier, Make, Financial Cents, Ignition, Liscio, and Anchor to automate yourself out of joyless tasks.
Spend more time doing the work you enjoy and get your joy back.
Firm spotl💡ght
Bobbie Witt is the CEO and founder of Bookkeeping Confidential, a firm that provides professional bookkeeping services to small businesses in a timely and accurate manner. Their promise? To provide the highest standards of bookkeeping excellence.
On this episode of the podcast, Bobbie joined us to discuss exactly how she systematized her firm and its impact on her team’s efficiency and productivity.
Take a listen below:
Excerpts below:
Bobbie:
Implementing new systems can be overwhelming if you try to do everything at once, so start small and gradually expand. Identify the key areas that will provide the most significant impact on your firm’s operations and start there. As you and your team become more comfortable with the new systems, you can gradually expand their use across other areas of your firm.
Also, always stay updated with the latest advancements in accounting technology. The software industry constantly evolves, and new features and tools are being developed. Stay connected with industry experts, attend conferences, and engage in networking opportunities to stay informed about the latest trends and innovations.
H🔥t topics
CPA to CFO: Making the transition
There’s been a lot of talk about accountants offering advisory services and stepping into the CFO role. But how do you make the transition?
Our friend, Lacey Harnar, from The CFO Project, has one of the most in-depth resources about it.
She answers important questions like:
What is a CFO Advisor?
Why do business owners want a CFO Advisor?
What is a Productized CFO Advisory Service?
What is The One Clear Path?
Why do I need to offer advisory services?
Can bookkeepers do this?
She will also be presenting a special free webinar about it next Tuesday called “CPA to CFO.” Designed for CPAs but also applicable to enrolled agents and accountants, this webinar will cover the steps necessary to transform a tax or accounting practice into an advisory service effectively. Sign up for the webinar.
Taking Control of Your Health While Running Your Business: The Inspiring Story of Nick Sinclair
The story of Nick Sinclair, a former owner of an accounting firm and the CEO of TOA Global, an accounting talent solutions company, is not only inspiring but also proof that it’s never too late to build the life you want.
Whether you run a solo firm or a large firm with 60 employees, you need good health to scale your firm, be there for your family, and achieve your lofty goals. Nick Sinclair realized this after a visit to the Doctor:
“My health is going to be something that if I don’t have it, I won’t be alive to be able to do those other two things. I can’t make an impact in the business, and I won’t be a dad, and I won’t be a husband if I’m not alive,”
Taking his life into his own hands, Nick began the journey into healthy living, losing 40kg within 10 months while running a 9-figure business.
Financial Cents recently spoke with him, and he shared his story, motivations, and how he balanced the demands of his business with his health goals.
Get inspired: Read the full interview
Swipe this workflow template
Get this free client onboarding - monthly bookkeeping checklist template.
BONUS: Access Eric Green’s checklist template for resolving a Non-Filer case with the IRS and state.
Meme
You: Thank you for making my day…😁
FOMO events
August 10 – 14, 2024
American Accounting Association (AAA) Annual Meeting
The 2024 American Accounting Association (AAA) Annual Meeting focuses on “Revolutionizing Accounting Education.”
August 14, 2 pm EST
Accounting Practice OS: How to Manage Work and Get Organized with Hector Garcia CPA and Dawn Brolin CPA
To scale your firm, you need an operating system where everything is organized and working smoothly.
Noteworthy
10 Comprehensive Accounting Spreadsheet Templates for Your Firm
Accounting spreadsheet templates give your team much-needed clarity into the requirements and flow of client projects, making them more focused on execution and quality control.
An accounting spreadsheet template is a spreadsheet that outlines the steps that make up (or conditions to be met to complete) an accounting process.
These templates can be created as a procedure for completing work (as in a monthly bookkeeping template) or a comprehensive list of information or documents needed to track and complete a service (as in Tax Preparer’s checklist).
In this article, we share 10 accounting checklist templates to help you optimize your accounting processes at scale.
Amid 2024 Mass Office Returns, Conflict Spikes And Productivity Drops
Return-to-office (RTO) mandates are on the rise and are expected to become even more common next year. A recent survey by Resume Builder reveals that half of the companies surveyed now require employees to be in the office at least four days a week. Moreover, one in four companies plans to increase in-office days in 2025 despite facing significant talent loss due to these RTO policies.
The shift back to the office is proving challenging, especially after the widespread adoption of hybrid work models during the pandemic. Employees find it difficult to adjust to working in close proximity again, leading to increased tensions and conflicts. This situation not only threatens employee morale but also impacts overall productivity.
Given that the primary goal of RTO is to enhance productivity, businesses must urgently address these issues to ensure that returning to the office delivers the desired benefits.
How CPA Firms Can Maximize the Potential of a Multigenerational Workforce
CPA firm leaders who recognize the potential of their multigenerational workforce are on the right track. While managing a team that spans four or even five generations can be challenging, the rewards are well worth the effort. By tapping into the unique strengths of each generation, from the Silent Generation to Generation Z, you can unlock significant benefits for your firm and position it for long-term success.
One key advantage of embracing a multigenerational workforce is improved retention of in-demand professionals. As I've highlighted before, understanding what motivates each group within your firm is crucial to retaining top talent. When employees feel valued and understood, regardless of their age or experience, they are more likely to stay engaged and loyal to your organization. This focus on nurturing your diverse team can lead to a more cohesive, productive, and resilient firm.
Until next time,
