In our year end wrap up: Jody, Brett, Tom, Hannah, and Jamie share favorite moments from the show, podcasting resolutions and holiday gift wishes. the hosts reflect on personal anecdotes and provide their aspirations for the upcoming year. They also introduce a new behind-the-scenes team member."If we have the ability to make our clients feel like heroes, that’s a complete home run. For me, that was very impactful and has changed the way we present things." – Tom WadeltonThe finer details of this episode:Personal anecdotes and reflections on podcasting experiences.Highlights of memorable podcast episodes and guests..Resolutions and goals for the upcoming year in podcasting.Episode resources:● Summit Virtual CFO by Anders website: https://www.summitcpa.net/● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com● Check out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/Timestamps:Timestamps by PodSqueezeWelcome to the Modern CPA Success Show (00:00:00)Introduction to the podcast's mission and focus on accounting insights.Jodi's Productivity Comment (00:00:22)Jodi humorously notes low productivity due to the team gathering for the podcast.Brett Congratulates Indiana University (00:00:48)Brett celebrates Indiana University's sports victory while discussing online gambling.Introduction of Christine (00:01:38)Jodi introduces Christine, highlighting her contributions to the podcast team.Minna Joins the Team (00:04:11)Minna shares her background and new role in the podcast.Podcast Ranking Discussion (00:04:48)Discussion about the podcast ranking as number four among accounting firms.Minna's Podcasting Resolution (00:05:46)Minna expresses her goal to improve scheduling for future podcast episodes.Brett's Podcast Experience (00:07:01)Brett shares insights from his podcast, "The Cannabis Access Show," and its educational value.Hannah's Favorite Episode (00:10:07)Hannah reflects on her favorite episode featuring guests from analytics discussing AI and innovation.Tom's Storytelling Insights (00:13:44)Tom discusses the importance of storytelling in consulting and how it relates to clients.Jodi's Favorite Moments (00:16:12)Jodi shares her enjoyment of hosting the podcast and connecting with guests.Podcast Episode TimestampsJodi's Reflection on Past Guests (00:18:18)Jodi shares memorable moments from past podcast episodes, including insights from John and Zeta Marion.Podcasting Resolutions and Christmas Lists (00:19:03)The speakers discuss their podcasting resolutions and what they want for Christmas.Brett's Conference Experience (00:19:50)Brett reflects on the impact of their podcast during conferences and the joy of audience interactions.Tom's Podcasting Goals (00:21:26)Tom shares his aspirations for exploring storytelling and AI in future podcast episodes.Hannah's Community Focus (00:23:33)Hannah emphasizes the importance of creating a fun and inviting atmosphere through their podcast.Brett on Cannabis Regulation (00:26:00)Brett discusses the challenges cannabis businesses face due to IRS regulation 280E and its implications.Christine's Personal Listening Goals (00:31:26)Christine aims to minimize distractions while listening to podcasts to enhance her engagement with the content.Gift-Giving Preferences (00:30:00)Brett and other speakers discuss their preferences for giving and receiving gifts during the holidays.Jamie's Resolution for Guest Follow-Up (00:35:05)Jamie expresses a desire to improve follow-up with potential podcast guests met at events.

Chantal Cornelius, founder of Appletree Marketing and author of "Stand Out Strategies," discusses innovative emotional marketing strategies tailored for accounting firms. She emphasizes the significance of forging deeper client relationships through emotional connection rather than traditional methods. Chantal introduces her five standout strategies: certainty, connection, contribution, growth, and significance. She also explores the power of client feedback, the challenges of adapting to change in accounting, and the transition toward client advisory services.

"As an owner of a business, it’s really nice to have control, knowing what’s coming in, what’s going out, and how much cash I have." -Adam HaleSummary:In this episode of the Modern CPA Success Show, hosts Tom and Adam discuss their firm's cash flow management service. They highlight the critical role of cash flow in business health, distinguishing it from financial forecasting. Their service includes a 13-week cash flow forecast, regular cash flow meetings, and detailed tracking of accounts receivable and payable. Emphasis is placed on the importance of reconciling bank accounts, maintaining communication, and ensuring accountability. The episode underscores how these practices help business owners stay informed, manage expenses, and make proactive financial decisions.Finer details of this episode:Importance of cash flow for businessesDistinction between financial forecasting and cash flow managementOverview of the cash flow management service offered by the firmBenefits of regular cash flow meetings for business ownersProcess of tracking cash inflows and outflowsRole of bank account reconciliation in cash flow managementStructure and efficiency of cash flow meetingsImportance of communication and accountability in financial processesBest practices for handling invoices and paymentsProactive approach to collections and managing outstanding invoicesEpisode resources:● Summit Virtual CFO by Anders website: https://www.summitcpa.net/● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com● Check out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/Timestamps:Introduction to the Podcast (00:00:00)  The host introduces the Modern CPA Success Show and its mission to support accounting firms.Discussion on Cash Flow Service (00:00:22)  Tom and Adam begin discussing the cash flow service offered by their firm.Importance of Cash Flow (00:00:35)  Adam emphasizes the critical nature of cash flow for business survival and its management.Distinction Between Cash Flow Services (00:01:01)  Adam explains the difference between financial forecasting and the cash flow management service.Overview of Cash Flow Management (00:01:56)  Adam discusses the detailed aspects of cash flow management, including tracking income and expenses.Weekly Cash Flow Meetings (00:02:35)  Tom highlights the value of weekly meetings for business owners to monitor cash flow.Bill Payment Process (00:03:16)  Adam discusses the bill payment process and the importance of client oversight.Clarification During Meetings (00:05:24)  Tom and Adam talk about the benefits of asking questions during cash flow meetings for clarity.Meeting Duration and Frequency (00:06:33)  The speakers outline the typical duration of cash flow meetings and their frequency.Best Practices for Invoice Management (00:07:51)  Tom emphasizes the importance of using a centralized system for managing invoices.Accountability in Collections (00:08:38)  Adam stresses the need for accountability in following up on overdue payments.Preparation for Cash Flow Meetings (00:09:36)  Adam explains the importance of preparation and reconciliation before meetings.Maintaining the 13-Week Cash Flow Forecast (00:10:21)  Tom discusses the critical nature of maintaining a 13-week cash flow forecast for business planning.Conclusion and Client Dependency (00:10:51)  The importance of the cash flow service in building client relationships is highlighted.

Discover the power of service packages for accounting firms, highlighting their role in enhancing client onboarding and clarifying offerings. Learn how to structure these packages using a simple tier system to meet diverse client needs. The conversation addresses overcoming challenges like transitioning existing clients and improving pricing transparency. Dive into the importance of aligning packages with client expectations while leveraging technology, such as AI, to craft engaging and effective service solutions.

In this special episode of The Modern CPA Success Show, four speakers with Halloween-themed personas—Jamie Nightmare, Hannah Hexed Hood, Adam Haunted Hale, and Joey Killing Kenny—engage in a lively draft-style discussion about their favorite Halloween movies. Jamie, the enthusiastic host, sets the stage and outlines the draft rules. Hannah humorously admits her limited horror movie experience, while Adam and Joey share their deep knowledge and personal anecdotes. The conversation is filled with playful banter and passionate debates as they each select and defend their top horror film picks, creating an engaging and entertaining Halloween-themed episode.

Dive into the transformed world of accounting where relationships take precedence over compliance. Discover the shift from hourly billing to subscription models that foster deeper client connections. Learn how modern Client Accounting Services enhance efficiency by leveraging resources and adopting a corporate structure. The discussion covers the importance of financial metrics in evaluating profitability and highlights strategies for firms to thrive in a competitive landscape. It's all about redefining the accountant's role to drive business growth!

Simon Severino, Founder and CEO of Strategy Sprints, shares insights from his journey in consulting, helping clients generate over $1 billion in sales. He discusses the crucial shift from traditional tax practices to advisory services, emphasizing the importance of understanding client needs. Severino highlights strategies for enhancing profitability by decoupling time from value and implementing structured approaches like 'Strategy Sprints.' He also explores effective marketing for accounting firms and the significance of building long-term client relationships for sustained growth.

“I love Excel. It's helped me save so much time over the years, and when I began thinking about Excel more like an employee that I can delegate stuff to, it helped me save an incredible amount of time.” – Jeff LenningThe finer details of this episode:• Strategies for leveraging Excel to improve efficiency• Continuous learning and development in Excel• Common pitfalls and challenges in Excel usage• Mindset shift from "if" to "how" in using Excel• Role of AI in enhancing Excel skills• Structure and offerings of Excel University• Key Excel functions and features for accountants• Real-world applications and case studies using Excel• Importance of presentation skills in Excel reportingEpisode resources:● Summit Virtual CFO by Anders website: https://www.summitcpa.net/● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com● Check out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/● Connect with Jeff here: https://www.linkedin.com/in/jefflenning/● Check out Excel University here: https://www.excel-university.com/tipsTimestamps:Introduction to the Episode (00:00:00)Overview of the podcast's mission to provide insights on innovative tools and strategies in accounting.Guest Introduction (00:00:22)Tom introduces Jeff, a Microsoft MVP and founder of Excel University, highlighting his career background.Why Excel University? (00:01:18)Jeff explains his passion for Excel and how it transformed his workflow efficiency.Continuous Improvement in Excel (00:02:27)Discussion on the iterative process of optimizing Excel workbooks for efficiency and accuracy.The "Last Year" Trap (00:04:06)Jeff addresses how accountants often stick to familiar methods without seeking improvements.Mindset Shift in Excel Usage (00:05:53)Jeff shares his approach of asking "how" instead of "if" when automating tasks in Excel.Learning with AI Tools (00:07:00)Jeff discusses the benefits of using AI to enhance Excel skills and troubleshoot formulas.Excel University Experience (00:09:02)Overview of the structured learning approach at Excel University, focusing on sequential knowledge building.Continuing Education Credits (00:11:44)Information on CPE credits offered through Excel University’s programs.Focus on Presentation Skills (00:12:11)Discussion on improving both functionality and presentation of Excel reports for better client communication.Charting in Excel (00:14:16)Tom and Jeff discuss the challenges of formatting charts in Excel for effective presentations.Key Excel Functions for Accountants (00:15:25)Jeff highlights essential Excel functions that every accountant should master.Power Query's Benefits (00:16:59)Jeff explains how Power Query automates data processing, saving time and improving efficiency.Real-Time Data Refresh (00:18:07)Benefits of using Excel for live updates during client meetings, enhancing responsiveness.The Impact of Spreadsheets (00:19:01)Discussion on the historical significance of spreadsheets in making personal computers indispensable.Microsoft's Ongoing Investment in Excel (00:19:51)Discussion on Microsoft's continuous updates and new features in Excel.Learning Excel Functions (00:20:17)Importance of learning new Excel functions beyond the basics through courses and online resources.YouTube Channel Promotion (00:20:38)Jeff shares his YouTube channel for quick Excel tips and updates.Searching for Excel Functions (00:21:06)Common issue of not knowing advanced functions like Power Query and XLOOKUP.Benefits of XLOOKUP (00:22:00)Explanation of XLOOKUP as a more resilient alternative to VLOOKUP.Excel University Audience (00:22:28)Overview of diverse student demographics, including CPAs and accounting professors.Student Confidence Boost (00:23:49)Feedback on how Excel training increases students' confidence in interviews.Underestimating Excel's Importance (00:24:33)Discussion on college students' misconceptions about Excel's relevance in their careers.Using Excel for Client Projects (00:25:35)Example of using Excel to model client scenarios and decision-making.Introverts and Problem Solving (00:25:48)Jeff shares his enjoyment of solving problems with Excel as an introvert.Google Sheets vs. Excel (00:26:27)Comparison of Google Sheets and Excel for collaborative work.Sharing Documents in Google Sheets (00:27:39)Discussion on the ease of sharing documents in Google Sheets compared to Excel.Gateway Computers Experience (00:28:25)Jeff reminisces about working at Gateway Computers and its rapid growth.Gateway's Growth Challenges (00:29:28)Stories of Gateway's ongoing expansion and the challenges faced.Excel Training at Gateway (00:31:08)Jeff's initial experience teaching Excel at Gateway's training centers.Role of Excel in Career Progression (00:32:53)Discussion on how various roles contributed to Jeff's Excel expertise.Daily Excel Usage (00:34:38)Jeff explains his daily engagement with Excel and content development.Office Hours Collaboration (00:35:34)The supportive environment of office hours where students share and learn from each other.Learning from Peer Demonstrations (00:36:08)Reflections on how sharing simple Excel techniques can lead to broader learning.Pivot Tables' Impact (00:37:09)Discussion on the transformative power of pivot tables in Excel.Pivot Tables and Formatting (00:38:07)Discussion on the importance of pivot tables and their time-saving formatting features.Power Query Feature (00:38:32)Jeff highlights Power Query as the most impressive Excel feature in the last two decades.Using Tables for Efficiency (00:38:44)Tables help eliminate errors and automatically adjust ranges in Excel functions.Indirect Function Discovery (00:39:12)Tom shares how the INDIRECT function simplified his work with changing templates from multiple countries.Time-Saving with INDIRECT (00:39:52)Tom explains how the INDIRECT function dramatically reduced turnaround time for presenting data.Learning from Excel University (00:40:46)Tom expresses motivation to improve Excel skills and acknowledges the value of Excel University.Time Efficiency Gains (00:41:11)Jeff mentions the significant time efficiency benefits experienced by his students.

Michael Clarke, an expert in transitioning professional services into sustainable business models, shares his insights on building collaborative practices and avoiding common pitfalls in the industry. He emphasizes the power of teamwork and clear communication in enhancing client relationships. Clarke discusses the concept of 'trust compression' and the need for professionals to identify their ideal clients for growth. He also highlights the importance of networking and continuous learning as essential strategies for advancing both personal and firm success.

In this engaging discussion, Adam Koós, a financial planning expert and founder of Libertas Wealth Management Group, emphasizes the urgency of proactive financial strategies for business owners. He shares insights on navigating complexities in real estate investment and the tax implications of selling a business. Adam delves into the importance of tailored financial planning and strategic transitions, highlighting a structured approach for enhancing company value and preparing for successful exits. His unique journey from pre-med to finance adds an inspiring twist!