From The Trenches – Details, episodes & analysis

Who knows what the future of From the Trenches is? Not us. But when Dave posted about a Xerocon Trenches recording it performed better than other linked in posts actual thought went into. 

BEST ON GROUND

Paul Meisner

• Xero Bank Rec AI automation - biggest update since Find and Recode
• OpenAI integration into Xero ecosystem - Xero might catch up to the Access Groups Evo AI but either way, the race for the AI Kingdom is on
• The people - face-to-face networking away from online negativity

David Boyar

• Paul Meisner the men's health role model
• Expecting a big ROI
• Quality of content - sessions packed, people wanting solutions ahead of activations 
• Industry positivity - stark contrast to toxic online communities that make you feel the sky is turning into flowing lava

WORST ON GROUND

Paul Meisner

• Professional bodies completely absent - CPA, CA, IPA nowhere to be seen at 3,500 person event
• Welcome to Country interrupted for product pitch

David Boyar

• Less "woke agenda" = more product focus (actually good)
• CEO compensation optics but loved the confident "double down"

From Dave

"The online accounting world has become incredibly negative... but they're smiling, they're wearing shorts, having a great year, but here, Accounting has sun shining on it at the moment"

From Paul

"Industry bodies, where the bloody hell are you? 3,500 of the accounting and bookkeeping community in one room and you can't even show up"

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G'day friends,

Been a while but Dave made Paul a promise - that he could make the most content rich accounting event, filled with high value content, a fair balance for sponsors and organizers, and a proper party.

And Paul is the sort of person who holds people to account....

• The agenda is finalised
• The band is booked
• The drinks budget has been broken
• The Access Group has a monstrous new take on AI to share

And there's about 30 tickets left.................... and Dave said it would sell out ....so you know...help him out.

Get your tickets at accessallareas.au

Access All Areas - Access All Areas 

Sorry about some of the audio, we are out of form. 

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When Xero goes down does CTO Mark Rees get a red alert alarm in the middle of the night? Is it red flashing lights and blaring alarms? 

Listen to find out as Paul Meissner goes 1:1 with Mark Rees at Xerocon

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There are so many new payment apps now. 

Some of them are payments but cheaper and other build great workflows to solve business problems you currently have. 

And there is a ton of work being done to help banks understand Xero data. 

And the person overseeing this strategy is Xero's Leigh O'Neill. 

Check out our other Xerocon Interviews.

4 Minutes and 31 Seconds with Jo Lyons @Xerocon https://omny.fm/shows/from-the-trenches/4-minutes-and-31-seconds-with-jo-lyons 

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New Xero APAC Managing Director Jo Lyons has the energy one needs to take on this enormous job.

In this 4 minutes and 31 second floor walk interview Jo and Paul capture the energy of Xerocon. 

Check out our other Xerocon interviews

Financial Services and Xero - What and Why with Leigh O'Neill - EGM Financial Services 

Where's the product? With Mark Rees CTO

Huge thanks to Xero for comping Paul and Dave some Xerocon tickets. 

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It's a nervous feeling as we get ready for for the biggest gathering of the industry in 3 years with the 3,000 odd attendees slightly eclipsing the 13 odd people who went to the IPA crypto conference. 

This is the retail junket we have all been looking for, the most accessible one that has sold out by attendees, was over sold to sponsors and stands to re shape the energy in the industry. 

And we discuss, if we don't expect major product announcements, and if the content is more wokey, techy, thoughy leadershipy stuff you could get anywhere then why did it sell out? And why are we so excited?

Well, because this is the greatest peer accounting community in the region and the industry clearly craves coming together. 

In this years preview Dave and Paul cover:

Is this a tech conference or an accounting conference?

What we're looking forward to 

What we want to learn

Who we want to meet (hint, it's you). 

Software Vs Accountants Futsol Penalty Shootout

Want to kick a ball at the head of a software vendor (And be ok with them kicking back)?

Software Vs Accountants Futsol penalty shoot out will go ahead live at

Time 2.00 PM

Day 2 Wednesday 

If you want to attend send Paul, Dave or Trent a message on social media or email summit@fromthetrenches.com.au 

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Best on Ground

Tyler Casky takes the Moral High ground on paid influencers https://www.linkedin.com/posts/tylercaskey_i-love-little-innovations-like-this-they-activity-6964724147667025920-k72D/?utm_source=linkedin_share&utm_medium=member_desktop_web 

The rise of Workplace TV

• Madmen
• Succession
• Halt and Catch Fire 
• Silicon Valley
• Industry
• https://www.newyorker.com/culture/cultural-comment/the-new-season-of-industry-and-the-rise-of-workplace-tv/amp 

Pauls Rant  got 50k Linked In views -  but is he right? 

https://www.linkedin.com/feed/update/urn:li:activity:6963277532511043585/ 

Progress on the Gender Pay Gap at the Big 4 

https://www.afr.com/companies/professional-services/financial-review-consulting-salary-guide-2022-23-20220808-p5b815 

Paul

Excel formula’s: ​​https://www.linkedin.com/posts/asifmasani_financial-modelling-formulas-ugcPost-6965610625259454464--7kU?utm_source=share&utm_medium=member_desktop

We need a Recession so tech staff find out what hard work looks like https://twitter.com/JohnWRichKid/status/1561023740577779713 

Worst on Ground 

David

Quiet quitting isn't real - we used to call it being lazy, this is just the old gen thinking the new gen work less - https://www.accountantsdaily.com.au/appointments/17457-excess-overtime-fuels-quiet-quitting-epidemic 

This is what 16% homeloans look like - Literally  https://www.linkedin.com/posts/james-n-nicol_these-are-not-high-interest-rates-this-activity-6968392410934501376-kJ4j/?utm_source=share&utm_medium=member_desktop 

Nonsense Mission Statements getting called out https://www.afr.com/work-and-careers/management/ashurst-should-accept-its-purpose-is-not-extraordinary-20220722-p5b3qc 

Paul

CPA too late on capacity to pay letters 

https://www.accountantsdaily.com.au/business/17328-avoid-capacity-to-pay-letters-warns-cpa-australia 

Chartered Accountants Launches another review  - we don't care, what matters is implemented changes.

Intuit has rebranded to a simpler font. Why? https://www.intuit.com/blog/news-social/unveiling-our-new-intuit-logo/?cid=soc_employee-ambassador&utm_channeltype=LinkedIn 

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What a week to make worst on ground. No matter how hard you tried, some other company did it worse.

Xero are pulling their much loved version 1 reports. That was a show until…

KPMG got caught cheating and CA did barely anything about it. That was a show until…

CAANZ took 18 months to do what little they did causing all three accounting bodies to get a please explain from the Professional Standards Authority and somehow found a way to defend their actions and blame their processes instead of any one person.

Sounds like the type of unaccountable culture that could lead to….say……systemising ethical breaches.

Best on Ground

David

Xero’s Emotional Tax Return Campaign https://www.linkedin.com/posts/joseph-lyons-au_running-your-own-business-is-an-incredibly-activity-6949868389066514432-7Qly/?utm_source=linkedin_share&utm_medium=member_desktop_web  

Accountants Daily new Editor Phil King is capturing the mood of the industry with tech news and industry voice

Paul

New Xero product - Xero go. Interesting given the current app already has a lot of the functionality.  https://www.xero.com/blog/2022/07/xero-go-for-uk-based-sole-traders/ 

Beta testing new tech is good for the customer. 

AI in Food - https://www.afr.com/technology/pizza-giant-gets-into-maths-of-preparing-food-before-orders-arrive-20220713-p5b1g0 

Worst on Ground

Paul

CA can’t uphold the ethics of the profession 

https://www.afr.com/companies/professional-services/professional-regulator-blasts-shocking-delay-in-kpmg-cheating-probe-20220718-p5b2jn 

1. Perception that CA treat big firms better than small may not be true 
2. CAANZ blame their processes, but what about their people? Who is actually responsible?
3. The by-laws can’t punish the right entities
4. How important is being part of the Professional Standards Authority? 

ANZ - MYOB - Suncorp - Myob

https://www.arnnet.com.au/article/699933/anz-drops-myob-acquisition-talks/ 

David

Rezza hood manages to upset accountants and bookkeepers in one overly salesy Hpost

https://www.linkedin.com/posts/rezahooda_accountants-accountingandaccountants-activity-6953303419453378560-b5xX/?utm_source=linkedin_share&utm_medium=member_desktop_web 

Mass Media Fear mongering on interest rates makes us dumberhttps://www.linkedin.com/posts/michaelhutchens_australias-mass-media-reporting-of-the-reserve-activity-6949950144876290049-rnjx/?utm_source=linkedin_share&utm_medium=member_desktop_web 

Atlassian is so unprofitable but we worship them

https://www.smartcompany.com.au/startupsmart/analysis/atlassian-unprofitable-valuation-adam-schwab/ 

Why VCFO Fails https://www.linkedin.com/feed/update/urn:li:activity:6947990583122513920/  VCFO association is part of the solution they spend their time trying to educate on the difference  https://vcfoassociation.com.au/ 

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This Episode is brought to you by ChangeGPS - Growth Profit Systems making accounting client friendly (brought to you means Dave did it on ChangeGPS time). 

Register for the 2022 Financial Statements + Tax Return Workpapers Masterclass

Monday 1st August 2022

1:00-2:00pm AEST

2022 Financial Statements + Tax Return Workpapers Masterclass (changegps.com.au)

Do you want to get your entire team to have an efficient and standardised Year End process?

Invite the whole team - even your juniors! - for our 2022 Financial Statements and Tax Return Workpaper Masterclass. With a consistent “one-way for everyone” approach, your firm will be able to:

• work efficiently to deliver year end, the same way, for all clients 
• de-risk by ensuring all work is produced to an exact quality standard
• train your employees with a comprehensive client service system and simplified workpapers 

You'll join ChangeGPS Founder, Timothy Munro, and CEO, David Boyar who will deep dive in to our most popular workpapers, utilised by thousands of accountants across Australia.

Register now 2022 Financial Statements + Tax Return Workpapers Masterclass (changegps.com.au)

Join us to learn:

• Why “one way” of doing things across your entire firm maximises your production and minimises your review time
• The balance your team needs to take to keep your jobs profitable without becoming an ATO auditor on every transaction!
• Why Excel workpapers strike the accountant's perfect balance between standardisation and flexibility
• Why Excel Workpapers and Xero Workpapers combine for management review perfection
• How to get your clients engaged in the year end process without relying on a threat from the ATO

PLUS: See how your client’s TAX OBLIGATIONS should be recorded at year end on their Balance Sheet and how our 2022 Tax Checklists help prompt your team to ensure this always happens!

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The orange, and widely loved Dext (Previously Receipt Bank) has had an interesting run.

Widely regarded as the best technical product for receipt automation, it's been a different couple of years for this fast paced start-up!

Dext Chief Revenue Officer Alistair Newman says they're bigger, and better and have new ways to build relationships with you their customer. 

But the accounting community has a lot of questions, and we are lucky to sit down and get some real answers from Al himself when he was down under in Australia last month. 

In this episode we discuss the rebrand to Dext, the widely discussed pricing changes, the acquisitions and where the company is headed next. 

We give a hearty Trenches congratulations to Al for this interview. 

He sat there and took the direct elephant in the room questions like an absolute pro.
Well done mate, as a community we really appreciate it. 

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Dext are proud sponsors of From The Trenches - Trenches Summit 2.0

Check out the Dext's Keynote at Trenches Summit 2.0  

The Australian Accounting Tech Report: Solving the time/tech conundrum. A talk by David Boyar, Glenn Castle, Michael Johnson and Cassandra Scott

Register Here https://summit.fromthetrenches.com.au/talks/dext-keynote/ 

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Best on Ground

Accounting Coaches that prove their value – with a p and l!

https://www.linkedin.com/posts/sharonsnetwork_business-accounting-coaching-activity-6923203081497182208-EN8M/?utm_source=linkedin_share&utm_medium=android_app

Even when McKinsey stuffs up they win

https://twitter.com/MattZeitlin/status/1517279854135107584

What happens after you sell your payroll app? Richard McLean (@richviking99) / Twitter

If you work for a tech company and rely on your shares instead of your wages/bonuses you’ll probably lose out

https://investing1012dot0.substack.com/p/valuations?s=r

Paul – Not best or worst, just really interesting seemingly lots and lots of LinkedIn new job posts. Not great resignation but Great Movement. Divipay have 14 jobs open! https://www.linkedin.com/feed/update/urn:li:activity:6936623969076658176/

ChangeGPS have 3 open positions Work with Us (changegps.com.au)

Worst on Ground

Power to accountants doing what the bodies aren’t

https://www.linkedin.com/feed/update/urn:li:activity:6927750334123556864/

Meanwhile the IPA and CA submissions were dated AFTER the advertised due date after having 6 years to get their act together!

If Benny Hill music had a font type it would be the new sage logo https://www.business-live.co.uk/professional-services/software-giant-sage-unveils-new-23796099

Accounting Bodies Out of touch with the urgency of s100a 

Xero Roadshow Review

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