Earmark Podcast | Earn Free Accounting CPE

Blake is joined by Twyla Verhelst, Head of Accountant Channel at FreshBooks, to discuss a groundbreaking concept in advisory known as "Collaborative Accounting." This innovative approach aims to enhance collaboration between accountants and clients by providing a platform for efficient financial management. They delve into various aspects of this new approach, including FreshBooks' certification program, dedicated support for accounting partners, and a community for accountants to exchange best practices and insights. Prepare to be inspired by the transformative power of Collaborative Accounting!SponsorFreshBooks - https://earmarkcpe.promo/freshbooksTo learn more about Collaborative Accounting and join the FreshBooks partner program, visit https://freshbooks.com/accountantsChapters(00:19) - Earn Free CPE (01:02) - Welcome Twyla Verhelst to the show (08:02) - How do you make advisory services efficient? (11:54) - What is "collaborative accounting"? (14:10) - Who are we collaborating with? (19:28) - Can you give us an example of this? (24:13) - How do we make the time for this when we're so busy helping with clients with other problems? (35:54) - Why clients are seeking financial advice elsewhere (39:36) - What is FreshBooks doing to help make collaborative advisory possible? (45:08) - FreshBooks has top-notch support (46:01) - Community partnership is a huge part of this (47:10) - Wrap up and where to learn more about FreshBooks (50:32) - Remember to Earn Free CPE by listening to this Episode Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Our Guest, Twyla VerhelstLinkedIn: https://www.linkedin.com/in/twylav/?originalSubdomain=caTwitter: https://twitter.com/TwylaVerhelstInstagram: https://www.instagram.com/thattwylagirl/?hl=enLearn more about FreshBooks: Website: https://www.freshbooks.com/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Jerry Maginnis, an experienced accountant with over 40 years of experience, shares advice for young accountants on building a successful career. He emphasizes the importance of soft skills, navigating busy season, expanding business acumen, and the pros and cons of different career paths. This episode offers indispensable guidance to maximize your career as an accountant.

Think the pathway to owning an accounting firm is linear? Think again.In this episode, Blake has a fascinating conversation with Scott “OKR” Scarano, an accounting firm owner with an unconventional background.Before becoming a successful firm owner, Scott started dealing drugs, got kicked out of UNC, and ended up with a felony conviction. But with persistence and grit, Scott cleaned up his act, got back on track with his accounting degree, and hustled his way up to leading an accounting practice approaching $2 million in annual revenue.Scott gives an honest account of his journey—the highs, the lows, and the lessons learned along the way. He talks about the mistakes he made scaling his firm and the tools and systems he implemented to get “out of the work” and create more freedom in his life.These days Scott is pursuing his creative passions, like rapping as "OKR," while his firm runs smoothly in the background.His story offers inspiration that firm ownership isn't one-size-fits-all and that with the right mindset and support, unlikely entrepreneurs can thrive in accounting.Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on AutopilotChapters(00:46) - Blake's first impressions of Scott (07:14) - The definition of a successful firm (11:28) - Scott works an hour a week on his firm (12:09) - The bottom line: What Scott takes home (13:32) - Are you planning to grow the firm? (15:33) - Scott felt guilty about not doing the work (16:55) - How Scott started his firm (21:34) - Learning from mistakes (23:29) - Scott's felony charge and what it taught him about business (26:02) - The similarities between pricing drugs and accounting services (32:09) - What did you do after you bought the firm? (35:55) - Getting stuck at $1.2 million revenue (36:40) - How EOS changed things (38:25) - What is Padgett? (39:24) - Back to EOS (44:48) - Joining XPAC, the Xero Partner Advisory Council (48:27) - Stuck in Mexico during COVID caused a mindset shift (51:16) - Cal Newport and digital minimalism (56:05) - What Scott is working on next (01:01:37) - Where to reach Scott and how to listen to Accounting High (01:04:01) - Where do you want to see the accounting profession go? Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Our Guest, Scott ScaranoWebsite: https://www.accountinghigh.com/LinkedIn: https://www.linkedin.com/in/scottscarano/Twitter: https://twitter.com/scottscaranoLearn more about Scott's firm, Padgett NCWebsite: https://raleigh.padgettadvisors.com/index.phpConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

From offsetting winnings with losses to tracking gambling sessions, this podcast explores tax strategies for beating the house. The speaker, a CPA specializing in gambling taxation, discusses what counts as gambling income and how to properly track activity. They also address the importance of record-keeping, IRS publications on gambling, tax implications for recreational and professional gamblers, understanding tax forms for gambling winnings, and the intricacies of the gambling niche.

Major changes are afoot in the world of QuickBooks. QBO and Payroll prices are going up. Intuit is phasing out QuickBooks Desktop Pro while touting QuickBooks Online and Enterprise as the future, though Hector predicts Desktop will still have a 2024 edition. QBO Advanced still needs improvements, like reverting to a static navigation bar, and Hector is excited about new integrations with QuickBooks Checking. Tune in for insights from Hector Garcia, CPA, on the past, present, and future of Intuit’s small business accounting software.Sponsor South Carolina Association of CPAs (SCACPA) - https://earmarkcpe.promo/scacpaChapters(00:00) - Quickbooks dropped the ball with QuickBooks Checking (00:57) - Earn Free CPE (01:18) - Welcome Hector back to the show (02:41) - QuickBook Online price changes (06:46) - How will Intuit make sure its LLM is learning the right things? (10:17) - What's new with QuickBooks Desktop Pro and Premier? (18:26) - Why can't QBO do better inventory and what apps do you recommend for inventory? (19:43) - Let's talk about QuickBooks Checking (27:25) - Are you recommending QuickBooks checking to clients? And what do they need to do to get to that point? (31:30) - Revisiting Hector's 2022 predictions for QuickBooks Desktop (33:06) - Some new features (37:41) - Hector's QuickBooks browser extension RightTool (40:44) - How do you protect client information in RightTool (42:12) - Hector sold his tax practice and he's having a conference in Miami (46:19) - We're launching a new QuickBooks podcast! Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Our Guest, Hector Garcia, CPALinkedIn: https://www.linkedin.com/in/hectormgarciacpa/Subscribe to updates about the Unofficial QuickBooks Podcast: http://eepurl.com/iw4kpELearn more about Hector's conference in Miami: https://altaccountant.com/creative/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Follow the journey of Keeley Favoino, CPA, from her background in accounting at various organizations, including EY, Starbucks, OfferUp, and Farmer's Fridge, before joining Foxtrot, a modern corner store concept. Foxtrot's accounting department was initially focused on bookkeeping, but as the company grew, so did the need for a more robust accounting system. Keeley led the transformation from cash basis accounting to GAAP financials using QuickBooks Online, creating streamlined processes and establishing communication channels between departments. As Foxtrot continued to expand, Keeley and her team decided to upgrade to NetSuite, a platform that could better handle their reporting needs and integrate well with their existing tech stack.Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on AutopilotSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:22) - Preview: Being curious and finding the right fit (01:27) - Earn Free CPE (01:48) - Welcome Keeley to the show, and please tell us about FoxTrot (06:11) - What did Foxtrot look like in the beginning? (09:02) - What did the accounting team look like when you joined? (12:24) - How did you start working with startups? (25:26) - What came after OfferUp? (32:33) - Walk us through your moves with setting up systems (46:45) - What were your next steps and systems you implemented (49:15) - How did you pick your ERP system? (50:52) - What is a 4-4-5 Calendar (01:01:58) - What is your favorite thing about NetSuite? (01:10:22) - What is next for Keeley? (01:12:18) - What advice would you give to a young public accountant that is interested in startups? (01:16:04) - Wrap up and how to connect with Keeley Connect with Our Guest, Keeley FavoinoLinkedIn: https://www.linkedin.com/in/keeley-favoino/Learn more about Foxtrothttps://foxtrotco.com/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Blake Oliver is joined by Katherine Studley and Jim. Katherine and Jim specialize in helping OnlyFans creators and sex workers with their accounting and tax needs. They discuss the unique challenges facing these clients, as well as the common misconceptions and stereotypes surrounding the industry. Katherine shares how she built her business through TikTok and Instagram, and Jim explains how their pricing structure and hiring practices have contributed to their success. Tune in to learn more about this fascinating and underserved niche in the accounting world.Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on AutopilotSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:00) - Preview: Everyone deserves judgment-free financial representation (01:10) - Earn Free CPE (01:30) - Welcome Katherine to the show (02:36) - Background on Jim (04:11) - Who are your clients? Are they all OnlyFans creators? (05:08) - Chapter 6 (08:20) - Do you see sex workers being discriminated against in audits? (13:29) - What deductions should OnlyFans creators be taking? (14:32) - What are the biggest challenges you face working with OnlyFans creators? (16:12) - How do you make 1040s work? (18:01) - Where are you finding talent, and how are you training them? (21:44) - What was the biggest lift to get ClickUp to work for your firm? (22:52) - How do you like ProConnect compared to other software you've used in the past? (27:12) - What other apps do you use or recommend? (31:13) - Chapter 15 (32:22) - How do your clients get into this line of work? (35:04) - What type of income are your clients making from this? (37:34) - Are you worried about TikTok potentially getting banned in the U.S? (41:04) - Why do banks or payment processors give OnlyFans creators such a hard time? (42:04) - Give us a sense of the size of the industry (44:47) - What are some tips on creating content that appeals to your target audience (47:52) - Human-trafficking and sex-trafficking training (52:26) - Wrap up and where to reach Katherine or learn more Connect with Our GuestsKatherine Studley: LinkedIn: https://www.linkedin.com/in/katherine-studleyTwitter: https://twitter.com/theonlyconsultFacebook: https://www.facebook.com/katherine.studleyInstagram: https://www.instagram.com/the_only_consultantTikTok: https://www.tiktok.com/@the_only_consultantConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

In this episode of the Earmark Accounting Podcast, Blake talks with Stacey Feldman, CPA, about her experiences in the world of CPG and accounting at PopSockets. They look at the challenges of scaling a startup, from tracking components in a supply chain to accounting for inventory costs. Stacey also reveals insights around simplifying supply and the importance of real-time data for accurate accounting.Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on AutopilotSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:00) - Preview: The importance of merging accounting and finance (00:44) - Earn Free CPE (01:05) - Welcome Stacey Feldman to the show (04:06) - Stacey's career path in the CPG industry (11:16) - What was the first big challenge that you had to solve in accounting for Pop Sockets? (15:05) - What did you map with the supply chain? (25:35) - What put PopSockets on the map and scaled the brand? (28:16) - What is FBM? (28:49) - How did you do all the accounting for PopSockets? What tools did you use? (36:54) - PopSockets 14 Million Dollar mistake (42:14) - What lessons have you learned regarding customer discounts? (47:44) - Differences between full manufacturing and light manufacturing (53:57) - What other cutting edge technology or interesting tech is Sunday using? (01:03:45) - Wrap up and how to connect with Stacey Connect with Our Guest, Stacey FeldmanLinkedIn: https://www.linkedin.com/in/feldmanstacey/Learn more about Full Send Financehttps://www.fullsendfinance.com/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Ariel Menche recounts his FP&A journey - from his tenure with KPMG and the WWE, to FP&A consulting to startups. His strategic financial advisory story highlights valuable FP&A lessons, including insights about data's impact on a CFO's role and establishing best practices for financial model development.Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on AutopilotSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:00) - Strategic finance (00:45) - Earn Free CPE (01:07) - Welcome Ariel to the show (03:13) - How Ariel got into FP&A pro wrestling (09:15) - What did the financial models for the WWE look like? (13:20) - Tell me more about these sheets you created to keep track of accrued expenses (17:54) - What gave you the idea to do this? (19:51) - What did you do with your extra time? (20:50) - What were the most memorable KPIs at WWE? (24:35) - What's the difference between working for the WWE and now running FP&A for startups (34:17) - How did you learn how to build financial models? Do you have advice on how to start? (46:34) - What is your favorite type of business to model? (48:37) - Ariel shares an example where a formula works out that he wasn't sure about (51:45) - Do you have any advise for people who want to do what you do? (56:19) - Wrap up and where to reach Ariel (58:07) - Remember to go earn FREE CPE Connect with Our Guest, Ariel MencheLinkedIn: https://www.linkedin.com/in/ariel-menche/Learn more about Raftel Strategyhttps://raftelstrategy.com/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

In this episode, Blake and Ron Baker discuss the subscription economy. They delve into the origins of the terminology and how CPAs and accountants can provide more value to their clients by prioritizing relationships over services. This is a must-listen for anyone interested in the subscription industry, which is projected to surpass $1 trillion by 2025.Many thanks to our sponsor, Anchor!To learn more about Anchor, visit https://earmarkcpe.promo/anchorSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:00) - Preview: A firm can't be everything to everyone (01:16) - Earn Free CPE (01:33) - Welcome Ron Baker to the show (03:11) - What does "subscription economy" mean? (04:33) - What does the subscription model look like for accounting firms? (13:10) - If I'm not billing hourly, how do I make sure that my team doesn't get completely overwhelmed? (16:41) - Why there is a shortage on accountants? (26:39) - Power of different pricing models (32:48) - Why don't accountants charge based on how many assets they manage? (42:37) - What CPA firms do to impact people's lives (45:28) - How accountants can approach thier clients in a different way (51:21) - Amazon never would have happened if Jeff Bezos thought like an accounting firm (57:24) - Accounting firms want to change but don't (01:04:47) - What does the future of accounting look like? (01:06:32) - How to contact Ron Baker Connect with Our Guest, Ron BakerLinkedIn: https://www.linkedin.com/in/ronbaker1/Twitter: https://twitter.com/ronaldbakerLearn more about VerasageWebsite: http://verasage.comGet Ron's book"Time's Up!: The Subscription Business Model for Professional Firms": https://amzn.to/3y7GfxbConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/