As CPAs put another tax season in the books, as it were, it’s a perfect time to reflect on how to make the year to come run more smoothly for your business and nonprofit clients.

Conduct a Yearly Review

Over the past year, no doubt you’ve had a range of experiences—both good and bad—with your clients. To strengthen those relationships, and help each client improve their financial management processes, begin by asking yourself some key questions about each client:

  • Were their financials well organized overall?
  • Did their financial software work well for them or did they find it too limited or complex?
  • Did they struggle with messy audits?
  • Did their reporting process work well for them?
  • Did tax season hold unpleasant surprises for them, and if so, why weren’t they aware of what was coming?

Common Pitfalls

The benefit of asking those questions is that they can help you pinpoint the source of each client’s struggles—which often relates to their financial software.

To take one common example, many organizations rely on Quickbooks because it’s so easy to use, but sometimes the software’s limitations begin to cause trouble, especially as organizations grow. For instance, Quickbooks limits the number of users and the size of files, lacks many desirable business-specific features (including an audit trail and configurable workflows), and doesn’t offer the customized reports some organizations want.

Speaking of audit trails, another common issue for nonprofits and businesses alike is a failure to keep sufficiently organized and complete records and documentation. For a typical retail business, for instance, that means keeping track of every sales slip, check, receipt, invoice, and cash register tape, among other records. It’s not easy to stay on top of every detail all year long, and antiquated bookkeeping practices certainly don’t help.

If you find that some or all of your clients’ struggles relate to their financial software, it’s time to have a conversation with them about their options. Best-in-class alternatives such as Sage Intacct cloud accounting software are more popular, affordable, and feature-rich than ever before, and they might hold the key to making your clients happier and more organized in the year ahead.

Get Started

Michaud Accounting Solutions brings more than four decades of combined experience to both public and corporate accounting. We can help you and your clients explore the features and benefits of solutions such as Sage Intacct cloud accounting software, so you can help your business and nonprofit clients become more organized and more confident in their accounting processes for 2020.