Join Dawn Brolin and Shahram Zarshenas, CEO of Financial Cents, as they delve into the world of accounting workflow optimization. In this episode, Dawn discusses the top features that are transforming the accounting industry, including the Client Inbox and Workflow management. Discover how Financial Sense simplifies complex tasks, enhances client communication, and integrates seamlessly with other essential tools. Our guest, Shahram, shares insights into their vision for the future and how they’re empowering accounting firms to work smarter, not harder. Whether you’re a seasoned accountant or just starting in the field, this episode offers valuable insights into improving efficiency and client satisfaction in the world of finance.
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Change is the name of the game when it comes to the accounting profession, we all know this is true. However, I think many of us will agree that change is challenging, especially when it affects our tried and true habits and processes. In our firms, this also applies to our tech stacks and especially to our core accounting systems.
These types of changes are necessary if we want our firms to succeed. This is because we need to look honestly at what we are doing now and be willing to make changes that will benefit us and our clients in the long run. This is what I did several years ago when I realized that by continuing to keep my clients on Quickbooks Desktop (QBDT) instead of transitioning them to Quickbooks Online (QBO) I was actually holding us all back.
One of the fundamental benefits of QBO (other than it being the most comprehensive and widely adopted accounting system in the world) is that it offers immense flexibility and functionality with its open-API platform.
On a practical level, what this means is that QBO allows other companies to create and connect applications that extend their power. You can see hundreds of apps to exponentially expand the services and increase the efficiency of your accounting services, team, and revenue possibilities in the QBO marketplace. Being able to tap into these tools is a game changer for the services you can provide and the level of support and insight your clients receive from you.
After all, who wants to be pigeonholed in a constraining system at the price of their productivity and profitability? Not me! That was the decision point for me when it came to my evolution from QBDT to QBO. In fact, making this transition from QBDT to QBO may be the most impactful efficiency and firm-expanding hack I can offer to you, ever.
If you feel hesitant, or like it’s going to be too much of a heavy lift, I hear you. After all, QuickBooks is a huge part of how my firm serves clients, QBDT Enterprise edition was the backbone of my accounting practice for decades. Yet, I realized that if I didn’t transition to QBO, I wasn’t going to be able to be successful in the future in terms of being able to keep up with the expectations of my clients and the workflow that is also ever-evolving.
My clients wanted more advisory-level services from me, and by leveraging the QBO automation and apps available, I was able to free up my time and get everyone in the cloud on QBO. My clients have not only been receptive to this change, they have embraced it!
Let me give you a few examples of some of the key QBO apps and integrations I leverage (none of which are available in QBD) for my firm and my clients, too:
ADP – Leverage ADP’s powerful payroll and sync it seamlessly with QBO.
Bookkeep – This amazing app eliminates the manual revenue reconciliation process by syncing ecommerce and payment app data into QBO.
Corpay One – direct integration with QBO so all of my payments are automatically entered and reconciled.
Financial Cents – my practice management platform with all of our QBO transactions
Ignition – Ignition integrates with QuickBooks to automatically create and push invoices according to the billing information specified in our proposals.
Jirav – Another powerful integration that enables all Quickbooks data to be leveraged within Jirav to take your FP&A to the next level.
Liscio – The QBO integration here allows you to bill clients directly through Liscio. Simply create the invoice in Liscio or select an existing invoice in QBO using the new Invoice Task type.
Swizznet – Managed IT and cloud hosting all designed specifically for QBO so you know every level of your firm and client data is locked down and protected from cybercrimes and internal data theft.
As you can see, just from my shortlist alone, making the move from QBDT to QBO opens the “vault” so to speak of a new frontier of apps and opportunities to enhance our businesses and those of our clients. Here’s where we can actually create exponential gains in productivity, efficiency, and productivity. This all translates into more benefits for our firm and my clients.
The most important takeaways here are simple: Moving from QBDT to QBO provides greater flexibility and freedom for our firm which translates into maximum workflow efficiency plus more powerful tools for our clients.
Plus QuickBooks-protected cloud access lets clients collaborate and boost productivity because they can use it anywhere, using any device it’s made to manage any business – and every one of them can make it their own.
A lot has changed since I started my accounting practice 23 years ago, and so has the business landscape. My clients’ needs are always evolving, just like their businesses. I am sure you can say the same for your firm, this is why it’s so imperative to make sure you evolve your tech and the systems that support your service offering, too. Put your transition to QBO on the calendar now before year end so you maximize this major productivity and profitability hack pronto!
To get information on how to migrate, you can check out this resource.
This is a paid partnership with Intuit.