Year: 2017

The number of millennials having their own business venture is steadily on the rise. Hence, it is only proper for you, as an accountant, to have them as one your clients. Otherwise, you will be creating a big dent in your business.As previously discussed, these millennial entrepreneurs have a set of criteria should they wish to work with accountants and accounting firms alike. If you want to lure this big fish, you should have the following methods in your accounting practice.DigitalIt is not an overstatement when we say that millennials and technology go hand-in-hand. Thus, if you are to partner with them, you should know the digital world by heart. Having a reliable accounting software is a must. But switching to digital does not only refer to going paperless. You should…

A significant number of millennials make up the workforce and the millennials who start up their own business have been continually on the rise. In fact, Business View published an article calling this generation a “generation of entrepreneurs.”And according to Accountancy Age, a third of these entrepreneur millennials make at least $1.1m in annual revenue. In other words, this generation makes up one of the best accounting clients profit-wise. However, this generation also has high standards when it comes to hiring employees and choosing potential partners. In terms of accounting and bookkeeping colleagues, here are the characteristics they require.Strategic insightReporting, forecasting, and cash flow are the top three frustrations of millennial businesspeople. Hence, they prefer an accountant that can provide strategic insight into the finances of the company. Note though…

There is certainly a job growth occurring in the Philippines. For accountants, for example, you may search "accounting job Philippines" and the results will give you thousands of job posts to choose from. Information Technology (IT) jobs are also coming here in waves through companies seeking the expertise of Filipinos. Business Process Outsourcing (BPO) is also continuing its upward trend of providing more and more call-center jobs to young and alike. Nursing, engineering, banking, financial and all other areas are seeing gains and offering opportunities to more of our countrymen. But in this article, we'd like to focus on why accounting jobs is among the top choices in the Philippines. Here are three reasons: 1. Increasing Demand If you’re an accountant at this time, you’re in luck! But if you’re…

We are all aware that there are several advantages of technology in accounting. There is the fact that it automates most of the manual tasks such as reminding clients of unpaid invoices, preparing tax reports, and calculating tax rates and discounts. In this article, however, we would like to highlight three benefits of technology in accounting that not everyone appreciates. Hence, these individuals are still sitting on the fence on jumping on the accounting software bandwagon. They think their current method is enough to complete their tasks. If you are one of them, this article is for you. Overlooked advantages of technology in accounting 1.  Accuracy You've been working all afternoon looking at numbers and performing computations. Hour after hour, going back and forth on your calculator and making sure…

Of course, accounting firms, like all other businesses, are confronted with challenges.  However, to solve any problem, you need to be able to define specifically what the problem is before you can find out how to deal with them. To help you with identifying these problems, let us look into the top business challenges for accounting firms. Top challenges for accounting firms The first challenge is attracting and developing new business.   Research reveals that 70% recognize this as the primary challenge for accounting firms. Finding new clients appear to be an increasing concern for firms in the industry as international competition mounts. So as not to be hampered by such obstacles, you should be able to set objectives which will allow your accounting firm to grow organically. Another challenge…