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Explore every episode of the podcast The Modern CPA Success Show

Dive into the complete episode list for The Modern CPA Success Show. Each episode is cataloged with detailed descriptions, making it easy to find and explore specific topics. Keep track of all episodes from your favorite podcast and never miss a moment of insightful content.

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TitlePub. DateDuration
Mastering the Vital Core of Profit-Focused Accounting15 Sep 202500:51:15

If your numbers feel disconnected from your decisions, it’s time to change that. Profit-Focused Accounting helps you align operations so you can stop guessing and start leading with confidence.

Discover a clear roadmap to financial maturity with the five pillars of profit-focused accounting. Learn how to build cash flow that supports growth, know why accurate and timely reporting must come first, and how objective self-assessments, from Ad Hoc to Optimized give you and your advisor clarity on where you stand. Take the first step toward profit clarity. Watch the episode today! ▶️ Mastering the Vital Core of Profit-Focused Accounting

Episode resources:

● Website: https://anderscpa.com/ 

● 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://anderscpa.com/virtual-cfo-services/vcfo-playbook/   


Quotes

  • Jamie Nau: "A good forecast connects financial data with non-financial drivers, like customer acquisition or capacity limits."
  • Tom Wadelton: "Benchmarks give owners perspective. They reveal whether performance issues are company-specific or industry-wide."
  • Adam Hale: "Increasing enterprise value requires the owner to step back from daily operations and empower their team to take charge."


Jamie Nau, CPA, Director of Virtual CFO Services/ Virtual CFO, is a seasoned financial expert with a deep understanding of business growth stages.  Jaime has worked extensively with middle-market and large companies, providing key financial insights. His experience as an auditor has given him firsthand knowledge of how critical financial data is in strategic decision-making.  


Website: https://anderscpa.com/ 

FB: https://www.facebook.com/vcfobyanders  

LI: https://www.linkedin.com/in/jamienau/  

https://www.linkedin.com/company/vcfobyanders/  

IG: https://www.instagram.com/vcfobyanders/  

YT: https://www.youtube.com/@vcfobyanders

The Modern CPA Success Show is the go-to podcast for accounting firm owners eager to enhance profitability and master Virtual CFO services. This podcast leverages combined expertise in delivering top-tier Virtual CFO services across North America.

Website: https://www.buzzsprout.com/2458888 

Facebook: https://www.facebook.com/AndersCPA 

LinkedIn: https://www.linkedin.com/company/anders-cpa/ 

Instagram: https://www.instagram.com/anderscpa/ 

YouTube: https://www.youtube.com/@andersvcfo 

Tom Wadelton is a Virtual CFO at Anders, bringing over 20 years of financial expertise from his tenure at a Fortune 500 company. He has extensive experience spanning financial management, accounting operations, and information technology integration. Tom specializes in delivering strategic Virtual CFO services, helping businesses optimize their financial performance through advanced accounting solutions.

Website: https://anderscpa.com/about/your-ander

How AI-Powered Digits Provide Real-Time Finance Clarity for Small Businesses11 Aug 202500:36:46

You started your business to grow, not to get stuck in spreadsheets. Today, smart tools make it easier than ever to stay ahead.

In this episode of The Modern CPA Success Show, we sit down with Jeff Seibert, CEO and co-founder of Digits, to explore how AI is transforming small business finance. We cover how Digits uses machine learning to automate up to 93% of bookkeeping, how their proprietary ledger gives you deep real-time analytics, and how their dashboards and reporting tools make it easy to translate numbers into action.

Key takeaways:

  • AI-first bookkeeping: Digits automates over 90% of transactions by using real-time bank, payroll, and invoice integrations. 
  • Real-time reporting and dashboards: Digits replaces static spreadsheets with interactive, browser-based financials. 
  • Perfect fit for small businesses: Digits is ideal for single-entity, U.S.-based businesses looking to ditch slow monthly closes.
  • Made for accountants too: Digits is designed to scale with accounting firms offering Virtual CFO services.
  • Roadmap ahead: Multi-entity and multi-currency, making Digits a true full-stack solution in the making.

Start building your real-time finance clarity with Digits—listen to the episode today! ▶️How AI-Powered Digits Provide Real-Time Finance Clarity for Small Businesses

Episode resources:

● Website: https://anderscpa.com/ 

● 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://anderscpa.com/virtual-cfo-services/vcfo-playbook/   


Quotes

  • Jeff Seibert - "Digits instantly learns from your transaction categorization, quickly achieving near-perfect accuracy in managing your financial data."
  • Tom Wadelton: "We often rely on dashboarding, but typically we need to separately log into accounting systems to identify specific vendor details behind variances."
  • Adam Hale - "In accounting, it's not about identifying a $10,000 variance. It's about understanding why that variance exists. That's where AI really needs to deliver."


Jeff Seibert is the Co-Founder and CEO of Digits, a company revolutionizing accounting with real-time financial clarity and intuitive reporting. With over seven years at the helm, Jeff is reshaping how businesses experience bookkeeping and insights. He's also the host of Between Two Founders, where he shares the stories and strategies behind successful startups.  


Website: https://digits.com/  

LinkedIn: https://www.linkedin.com/in/jseibert/

https://www.linkedin.com/company/digits-financial/ 

X: https://x.com/jeffseibert 

https://x.com/digits 


The Modern CPA Success Show is the go-to podcast for accounting firm owners eager to enhance profitability and master Virtual CFO services. This podcast leverages combined expertise in delivering top-tier Virtual CFO services across North America.


Website: https://the-modern-cpa-success-show.simplecast.com/  

Facebook: https://www.facebook.com/AndersCPA 

LinkedIn: https://www.linkedin.com/company/anders-cpa/ 

Instagram: https:

How Client Accounting Services Are Redefining the Role of Accountants in Business Growth28 Oct 202400:21:13

"They swapped out ‘accounting’ for ‘advisory’ in CAS, but I still believe it’s 'client accounting and advisory services.' At scale, especially with small businesses, it’s hard to separate the two. You need a foundational understanding of their accounting model to help architect it in a way that truly tells their story." – Adam Hale

 

The finer details of this episode:

  • The shift from compliance work to advisory roles in accounting.
  • Differences between traditional accounting firm structures and mature CAS practices.
  • Importance of leveraging resources and delegating tasks within accounting firms.
  • Financial metrics and profitability considerations in CAS practices.
  • The concept of selling access rather than time in service pricing.
  • The role of regular meetings in managing client expectations and scope creep.
  • Adoption of a corporate-like structure for improved efficiency and adaptability.
  • The impact of a subscription model on client relationships and service delivery.
  • Strategies for accounting firms to remain competitive in a changing industry.


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:
Welcome and Introduction (00:00:00)
The host introduces the podcast and its mission to provide insights for accounting firms.

Overview of CAS (00:00:22)
Tom and Adam discuss Client Accounting Services (CAS) and advisory services, highlighting their significance.

Defining CAS (00:00:46)
Adam explains the evolution of CAS from "Client Accounting Services" to "Client Accounting and Advisory Services."

Importance of Accounting in CAS (00:01:02)
Adam emphasizes understanding accounting models for effective advisory services, especially for small businesses.

Traditional vs. CAS Structures (00:01:52)
Discussion on differences between traditional accounting firms and mature CAS practices, focusing on corporate structure.

Leveraging Resources in CAS (00:02:06)
Adam talks about the importance of leveraging resources and delegating tasks for scaling CAS practices.

Transitioning from Traditional Models (00:03:29)
Tom shares challenges faced by accounting firms transitioning from traditional models to more scalable structures.

Financial Metrics in CAS (00:04:35)
Adam discusses financial metrics, contrasting traditional firm profitability with CAS models and their structures.

Understanding Profit Margins (00:06:19)
Tom and Adam analyze profit margins in CAS compared to traditional firms, aiming for higher profitability.

Building Client Relationships (00:09:24)
Tom highlights the importance of long-term relationships with clients for smoother operations and better service.

Delegation and Offshoring (00:10:06)
Discussion on the necessity of delegating work and utilizing offshore teams to enhance efficiency.

Measuring Performance in CAS (00:11:59)
Adam explains the shift from traditional hourly metrics to responsibility-based performance measures in CAS.

Book of Business Targets (00:12:57)
Tom and Adam discuss the importance of setting clear book of business targets for team members.

Compensation Structure in CAS (00:13:39)
Adam outlines how compensation structures differ in CAS, focusing on book of business rather than hours worked.

Efficiency Over Hours (00:16:32)
Tom advocates for valuing efficiency and client satisfaction over the n

How Octavia Conner Made Her Clients Say Yes to Profits03 May 202100:25:21

"In order to generate profit the correct way you need to have cash flow in your business...So one of the ways that we help our business owners is that we tell them 'The ultimate goal is for you to say yes to profits.'” - Octavia Conner

 

The finer details of this episode 

  • Say Yes To Profit and Octavia's amazing backstory 
  • How she defined what needed to be done to scale her business
  • What challenges she faced and how she overcame it
  • Tried and tested tips to build your own VCFO services

Episode resources

How to Build a Flexible, Engaged, and Successful Workplace with Frank Cottle19 Apr 202100:33:57

"The one word that every major employer, or every major business, or governmental entity is using right now is agility. They started using that in 2017, 2018, 2019, they started using the word but they weren't taking action and that's the big difference” - Frank Cottle
 

The finer details of this episode 

  • Deep dive into the difference of the workforce through the years
  • What the new normal looks like for the workforce
  • Redefining the purpose of an office 
  • New workforce models and options for businesses

 

Episode resources

The Playbook That Inspired the Growth of Oberlander & Co.07 Apr 202100:29:52

"I feel like we're colleagues, so you know it's like a real firm and we work together and they help us a lot besides actually taking the course that has helped us a lot in setting the framework."- Jacob Oberlander

The finer details of this episode 

  • How the VCFO Playbook Course influenced Oberlander & Co.
  • Highlighting the practices that Oberlander & Co. adopted 
  • Importance of  implementing a solid Onboarding process and Pipeline Meetings
  • The Impact of Switching to Value-Based Pricing 

 

Episode resources

Show Less

Choosing Vendors with Jake Grimm29 Mar 202100:28:13

"In our industry, we're always looking at what can save time and what's not going to break down all the time” - Jody Grunden

The finer details of this episode 

  • Understanding your company's needs to find the right solution for you
  • How to choose the best vendor for your company
  • Things to consider before  saying "yes" to a vendor
  • How Summit CPA Group weeds out all proposals to find the best one

 

Episode resources

Adapting in the Age of Automation with David Bergstein15 Mar 202100:26:30

"I think the future of accounting is automation and advisory services." - David Bergstein

 

The finer details of this episode 

  • Understanding the importance of automation and innovation
  • Process of choosing the best platforms to automate processes
  • Why moving to the cloud is the way forward for CPA firms
  • How to add value through  advisory

Episode resources

Establish Smarter Ways of Working for you and your Clients with Bill.Com03 Mar 202100:28:56

Quote

"You have an opportunity to digitally transform your clients' life." - Pete Potsos

 

The finer details of this episode 

  • What is Bill.com?
  • How Bill.com  helped Summit CPA revolutionize their processes
  • Features  can help you and your clients
  • How you can improve your own practice using the Bill.com platform

 

Episode resources

Exploring Video Marketing Strategies to Grow Your Business15 Feb 202100:36:00

Quote

“If you want to be a big business that continues to grow with some scale, then you need to learn how to use these.” - Stephen Pope

The finer details of this episode 

  • How video helps you connect to your audience
  • Why it's important to incorporate a video marketing strategy into your social media and other marketing efforts in general
  • How to be comfortable in video
  • Tips on getting your very first video done

 

Episode resources

Financing with QuickFee03 Feb 202100:31:15

Quote

“One of the partners there was sharing that their firm no longer has an overdraft thanks to using our payment plans” - Bruce Coombes

 

The finer details of this episode 

  • What is QuickFee
  • What are the three payment solutions offered by QuickFee
  • Advantages of using QuickFee
  • How it helped firms collect payments faster
  • How QuickFee can help enhance your relationship with your client

 

Episode resources

The Future of Virtual CFO Services with Rick Telberg of CPA Trendlines04 Jan 202100:27:06

Quote

“If we write about what people are talking about, then people are going to talk about what we write about.” - Rick Telberg

The finer details of this episode 

  • How Rick curated his content for CPA Trendlines
  • Trends in the Virtual CFO space
  • What could potentially hold CPA firms back from going virtual
  • Why you should seriously consider offering VCFO work considering the current landscape
  • What type of firm is best for offering VCFO services
  • Benefits of hiring a project manager to do our client onboarding at Summit CPA

 

Episode resources

Deep Dive with Virtual CFO Client Casey Cobb of Ricochet Group21 Dec 202000:38:39

Quote

“Let’s build the plan and plug the engineers into the plan instead of the other way around.” - Casey Cobb 

 

The finer details of this episode 

  • How the beginning of this client relationship changed the way we pitched
  • Casey’s amazing backstory and how a virtual CFO was able to help him through challenging times
  • The 80/20 rule, Parkinson's Law, and how Casey implemented them into his business idea
  • How Casy found his blue ocean strategy

 

Episode resources

Unlocking Profitability: Embrace Advisory Services and Client-Centric Solutions with Simon Severino14 Oct 202400:44:16

“If you're only working in the business, you're doing it wrong. Cut your activities in half. You have to free up time to think about the business, to work on the business.” – Simon Severino

The finer details of this episode:
• Transition from traditional tax-based practices to advisory-oriented services in accounting.
• Challenges faced by accounting firms in defining and marketing their services.
• Importance of understanding client needs and delivering tailored solutions.
• Decoupling time from value in professional services to enhance profitability.
• Strategies for effectively packaging and pricing advisory services.
• The role of marketing in differentiating accounting firms in a competitive landscape.
• Implementing structured approaches like "Strategy Sprints" for business growth.
• Identifying operational constraints and improving processes for better service delivery.
• Building long-term client relationships to foster loyalty and satisfaction.
• Emphasizing the need for continuous improvement and agile responses to market demands.

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/
● Check out Strategy Sprints here: https://www.strategysprints.com/

Timestamps:
Introduction to the Podcast (00:00:00)
Overview of the podcast's mission to provide insights on accounting firms' growth and innovation.

Guest Introduction (00:00:22)
Co-host introduces Simon Severino, highlighting his expertise and the challenges accounting firms face.

Simon's Background (00:01:29)
Simon shares his non-linear career path, emphasizing his passion for market strategy and problem-solving.

Transitioning to Advisory Services (00:03:09)
Discussion on the shift from tax-based practices to advisory services in accounting firms.

Decoupling Time from Value (00:05:14)
Simon explains the importance of separating time spent from the value delivered to clients.

Client Example: Cash Flow Reporting (00:06:15)
Illustration of how an accounting firm expanded services and improved profitability through automation.

Challenges in Changing Mindsets (00:08:54)
Discussion on the difficulty accountants face in shifting their perception of time-based billing.

High Margins of Advisory Services (00:09:31)
Simon highlights the significant profit margins in advisory services compared to traditional services.

Understanding Entrepreneurial Needs (00:10:51)
Exploration of what entrepreneurs truly need from their accounting services and reports.

Importance of Advisory in Cash Flow (00:12:40)
Discussion on the necessity of advisory services in helping clients interpret cash flow reports.

Strategic Value of Consulting (00:13:37)
Simon emphasizes the value of being a sparring partner for clients in decision-making.

Subscription-Based Services (00:14:45)
Discussion on how subscription models can help disconnect time from billing in professional services.

Impact of AI on Professional Services (00:15:58)
Simon discusses the challenges posed by AI in the financial services sector and competition.

Marketing on LinkedIn (00:17:16)
Emphasis on the importance of LinkedIn for professional services and strategies to gain mindshare.

Mindshare and Marketing Strategies (00:19:59)
Simon discusses the need for consistent marketing efforts to stay top of mind with clients.

Common Marketing Mist

How To Hold An Effective Meeting with Tom Barrett07 Dec 202000:37:54

Quote

“A lot of meetings are ruled by too many subjective opinions and egos, so it’s important to bring in actual objective measures of progress.” - Tom Barrett

 

The finer details of this episode 

  • Where Summit CPA has been and where we are going with our meetings
  • What makes a good meeting
  • Why people hate meetings so much
  • How to prevent team members from being distracted during meetings
  • Healthy conflict and how that can be a good thing in meetings
  • Creating a meeting agenda and why that is absolutely necessary
  • The power in naming your meetings
  • The IDS structure and how you can use it to talk through issues
  • The role of meeting moderators and why you need one

 

Episode resources

The Importance of Team Retreats with Zach Montroy and Lillian Hocevar16 Nov 202000:36:02

Quote

“Taking this time and investment in your team will show dividends in the future.” - Zach

 

The finer details of this episode 

  • How to choose the right venues, restaurants, and activities for the group 
  • Tips for structuring the content of your company retreat 
  • Balancing team-building and business development activities 
  • Choosing the right location for your retreat 
  • The importance of working with the right team to organize your retreat 
  • Budgeting and forecasting to cover your retreat financially 

 

Episode resources

Getting the Right People into the Right Seats with Tom Barrett02 Nov 202000:30:52

Quote

“The key to keeping employees happy is to get the right people on the bus, the wrong people off the bus, and the right people in the right seats.” - Tom Barrett

 

The finer details of this episode 

  • How to keep your employees happy 
  • Using accountability charts to get everyone into “the right seat” 
  • Processes for transitioning and onboarding employees into their roles 
  • Making sure that everyone gets into seats that fit their strengths 
  • Seeing people’s potential for leadership or supervising 
  • Tips for the interview process to assess potential new team members 
  • The importance of solidifying your company values when it comes to getting teammates into the right seat 

 

Episode resources

  

Deep Dive with Virtual CFO Client Greg Bear of Bear Group19 Oct 202000:24:54

Quote

“We were growing, I was wearing a lot of hats, and I started to realize our finances should be doing better.” - Greg Bear 

 

The finer details of this episode 

  • How Bear Group got started and their experience as a remote company 
  • Their process of hiring a CFO 
  • How Summit CPA has helped Bear Group to uplevel their business 
  • New financial management tricks Greg learned during the onboarding process 
  • Bear Group’s financial workflow 
  • Factors that attributed to fast cash growth for The Bear Group 
  • What to consider if your business is looking to hire a CFO 

 

Episode resources

  

Small Business Loans06 Oct 202000:26:58

Quote

“I have the ability to play financial offense for clients, getting them the cash they need to continue to grow.” - Dan Kalis

 

The finer details of this episode 

  • How to create good relationships with your bank
  • Keeping your business in a good financial position
  • The three C’s of lending
  • The importance of building your business credit profile
  • What to do when you don’t have the capital to grow your business
  • When you should borrow from a bank and when you should go a different route
  • Creative ways to meet your business’s cash needs

 

Episode resources

Summit CPA employees Angie Douglas & Mikala Page talk about traveling while working remotely28 Sep 202000:28:20

Quote

“Scope out the wifi situation before you arrive somewhere. The worst workweeks have been when I had to use my phone hotspot to work.” - Mikala Paige 

 

The finer details of this episode 

  • Angie and Mikala’s stories and how they joined Summit CPA 
  • Tips for creating a remote/travel lifestyle 
  • Things to research before moving to a new location 
  • How Angie worked from a van 
  • Having a social life when you work remotely and travel 
  • Challenges and advantages of working remotely and traveling 
  • Equipment you will need for remote work 

 

Episode resources

Family Office Integration with VCFO Services with Michael Frost from Heritage14 Sep 202000:32:31

Quote

“You have four professionals under one roof, so if you can’t genuinely respect and understand everyone’s industry, you are going to have a hard time implementing family services into your office” - Michael Frost 

 

The finer details of this episode 

  • Why bringing in a family office may be a good compliment to what you are doing as a VCFO
  • Where to start with moving towards a family office 
  • The relationship the CPA firm has with the other professionals 
  • How building a family office creates a better client experience 
  • How professionals are able to serve each other within a family office 
  • Best practices for onboarding a client onto a family practice 
  • Questions to ask to determine if someone is going to be a successful partner 

 

Episode resources

EOS with Tom Barrett from Navigate the Journey31 Aug 202000:28:06

Quote

“The time you spend on EOS tools, you are going to save that time and more in the long run.” - Tom Barrett

 

The finer details of this episode 

  • How to determine if your organization needs EOS 
  • The process of implementing EOS 
  • Advantages of working with an EOS implementer 
  • The six key components of EOS 
  • Setting priorities using the EOS model 

 

Episode resources

Delegation Tips with Emily Morgan from Delegate Solutions17 Aug 202000:27:51

Quote

“We need to be committed to the boring stuff in our business because it is the backbone of how everything runs.” - Emily Morgan 

 

The finer details of this episode 

  • Tips for small businesses on delegating their admin tasks 
  • Advantages of having a virtual assistant 
  • How to start delegating some of your admin work in your business 
  • How to get comfortable letting go of tasks in your business 
  • What the day-to-day looks like working with a virtual assistant 

 

Episode resources

Client Spotlight with Matt Westgate of Lullabot06 Aug 202000:34:12

Quote

“Intentionally fostering serendipity in a distributed company will help keep isolation at bay.” - Matt Westgate

 

The finer details of this episode 

  • What brought Matt to Summit CPA 
  • Why Lullabot decided to become a distributed company 
  • The benefits of working with a distributed team
  • Maintaining company culture when your team is distributed
  • The evolution of the Lullabot leadership team 
  • How Matt pulled his company out of financial hardship 
  • Creating psychological safety in your company culture 

 

Episode resources

Mastering Excel: Essential Skills and Strategies to Boost Efficiency with Jeff Lenning30 Sep 202400:41:46

“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 Lenning

The 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 reporting

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/
● Connect with Jeff here: https://www.linkedin.com/in/jefflenning/
● Check out Excel University here: https://www.excel-university.com/tips

Timestamps:
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.

Se

Special Guest Justin Hatch of Reach Reporting23 Jul 202000:29:24

Quote

“Every metric tells you what button you need to push to make yourself more profitable.” - Justin Hatch

 

The finer details of this episode 

  • What Reach Reporting does for its clients
  • How Summit CPA found Reach Reporting and why it is so important to us
  • Why visual, simple reports are such important tools for CPA firms
  • How you can get Reach Reporting set up in your firm

 

Episode resources

Cash Flow Tools with Justin Pulgrano of Finagraph07 Jul 202000:28:55

Quote

“Cash flow tools allow you to help every client with short term forecasting.” - Justin Pulgrano

 

The finer details of this episode 

  • Why cash flow is a critical piece of data to collect for your business
  • What makes Finagraph a great tool for measuring cash flow
  • What the setup of Finagraph looks like
  • The disadvantages of accrual statements
  • Why you should manage cash flow using a tool instead of a spreadsheet
  • What is next for Finagraph
  • Why cash is so important in these times

 

Episode resources

Onboarding a New Employee with Zach Montroy25 Jun 202000:24:11

Quote

“The three legs of the stool are culture, tech and tools, and client backgrounds.” - Adam Hale 

 

The finer details of this episode 

  • How to communicate your core values with a new employee 
  • The process for teaching new employees the tools and systems 
  • What the schedule looks like for a new employee during their first weeks 
  • Providing real-time feedback to new employees 

 

Episode resources

Hiring Assessments with Zach Montroy08 Jun 202000:26:52

Quote

 

“We are trying to learn about a candidate, know how they are going to fit into the culture, and know how they are going to do the job in a very small amount of time.” - Zach

 

The finer details of this episode 

  • How Summit CPA has struggled in the past with hiring 
  • The hiring assessments that Zach introduced to Summit CPA 
  • Why Emotional Intelligence is such an important factor in a potential employee 
  • How the EQ assessment works and how to read the results 
  • The Kolbe assessment and how to use it in your hiring process 

 

Episode resources

PPP Loan Forgiveness25 May 202000:17:40

Quote

 

“Don’t try to game the system with these. The government is going to be really scrutinizing the details with this.” - Jody Grunden

 

The finer details of this episode 

  • Which expenses are included in loan forgiveness
  • What you should do if your business uses contractors 
  • How to approach documentation 
  • What you need to know about the regulations and guidelines 
  • The timing and process to obtain forgiveness 
  • How to work with any loan that isn’t forgiven 
  • Do you need to pay taxes on the loan forgiveness? 

 

Episode resources

Best Books to Make You a Better CFO12 May 202000:22:12

Quote

“It’s impossible to have all these experiences yourself, so you get that from reading books.” - Adam Hale 

 

The finer details of this episode 

  • How The E-Myth Revisited laid the framework that Jody used to set up Summit CPA
  • How Getting Things Done can help accountants and CFOs stay organized and on top of their work
  • How Summit CPA uses The 4 Disciplines of Execution
  • Tips for how you can develop strong reading habits

 

Episode resources

Using JetPack Workflow for project management with David Cristello27 Apr 202000:36:32

Quote

“Project management tools are built for a defined sprint of work, but there is a big gap in recurring client management tools.” - David Cristello

 

The finer details of this episode 

  • David’s background and how he started JetPack Workflow
  • Why JetPack Workflow is a valuable project management tool for CPA firms
  • How to set up JetPack Workflow in your firm
  • When a firm begins to migrate into JetPack Workflow
  • Why JetPack Workflow is more effective than other project management tools
  • How JetPack Workflow has moved the needle on Summit CPA’s gross profit
  • The best way for smaller firms to adapt to a JetPack Workflow
  • Summit CPA’s approach to maintaining their JetPack Workflow
  • What new things are coming from JetPack Workflow in the future

 

Episode resources

PPP vs EIDL15 Apr 202000:25:08

Quote

“For the clients that are really hit hard, if they are completely shut down, the Employee Retention Credit might be a good move for them.” - Adam Hale 

 

The finer details of this episode 

  • Should you apply for the PPP or EIDL?
  • What you can do for businesses that are shut down for the foreseeable future
  • Your responsibility as a CPA in this crisis
  • How we are approaching COVID-19 with our clients
  • Forecasting tips to help clients work through the near future

 

Episode resources

How to Help Your Clients Through Difficult Times30 Mar 202000:26:52

Quote

“Times are different now with COVID-19, but these are conversations we need to have when the economy is doing really well.” - Adam Hale 

 

The finer details of this episode 

  • What conversations you want to be having with your clients during difficult times
  • How to approach making a plan with your clients to get them back on track
  • How to have difficult conversations with clients
  • Why weekly meetings with a CFO can help businesses survive a rough patch
  • Talking through layoffs, furlows, and pay cuts with your clients
  • What you can do for your clients during the COVID-19 crisis

 

Episode resources

Distributed Working Models20 Mar 202000:31:02

Quote

“Creating a dedicated space for your work is one of the most essential things you can do when working from home.” - Adam Hale 

 

The finer details of this episode 

  • How Summit CPA became a virtual company 
  • Work from home tips from the Summit CPA team 
  • Perks of working from home 
  • Our favorite tools for working online
  • How this can actually be a blessing in disguise for your company 
  • How to support yourself and your coworkers through this quarantine period 
  • How virtual teams can support business growth even better than in-person teams 

 

Episode resources

Tips for Building a Firm Worth Growing: Ideal Clients and Strong Networks with Michael Clarke16 Sep 202400:46:45

“The smartest people in the world know where their expertise ends and someone else's begins. We all need to understand that because if we're on the right team, everybody wins.” – Michael Clarke

The finer details of this episode:
• Transitioning from individual-centric practices to sustainable business models in professional services.
• Importance of teamwork and collaboration among professionals serving the same clients.
• Common mistakes made by professional service providers in managing their firms.
• Strategies for building trust and effective communication with clients.
• The significance of understanding and targeting ideal clients for growth.
• The role of support staff in enhancing client relationships and operational efficiency.
• The concept of “trust compression” and its impact on client onboarding and retention.
• Emphasizing education and clear communication in the advisory process.
• The value of networking and continuous learning for professional development.

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/
● Connect with Michael here:
● Check Protection Point Advisors out here: https://www.protectionpointadvisors.com/advisors/team/mike-clarke/
Timestamps:
Welcome and Introduction (00:00:00)
The host introduces the podcast and its mission to provide insights for accounting firms.

Guest Introduction (00:00:22)
Adam shares his thoughts on the upcoming discussion with guest Michael Clarke and his book.

Michael Clarke's Career Journey (00:01:40)
Michael discusses his background in the insurance industry and the founding of Protection Point Advisors.

Overview of "A Firm Worth Building" (00:03:03)
Michael explains the motivation behind his book and the lessons learned from his mistakes.

Transitioning from Individual Practice to Business (00:04:13)
Michael emphasizes the importance of moving from individual-centered practices to sustainable business models.

Building Relationships with Other Professionals (00:06:03)
Michael highlights the value of collaboration between professionals to enhance client service.

Common Mistakes in Firm Management (00:09:21)
Michael identifies key mistakes professionals make, such as being the center of their practice.

Practical Lessons in the Book (00:12:12)
Adam asks Michael to share one crucial lesson from his book on managing professional firms.

Understanding Trust Compression (00:12:50)
Michael introduces the concept of trust compression and its significance in client relationships.

Education as a Key Element (00:15:27)
Michael discusses the importance of educating clients to build trust and improve service quality.

Applying Trust Compression Beyond Onboarding (00:17:59)
Michael suggests ways to apply trust compression in various processes, not just onboarding.

Making Client Interactions Painless (00:19:01)
Michael stresses the need to solve client problems while making the process as painless as possible.

Good Growth Explained (21:22)
Michael discusses the concept of "good growth" and why professionals struggle with it.

Identifying Ideal Clients (22:48)
He emphasizes the importance of knowing your ideal clients to avoid bad growth.

Balancing Growth and Client Quality (23:35)
The speakers discuss the challenge of balancing client acquisition with maintain

Onboarding A New Client16 Mar 202000:31:04

Quote

“Every good client relationship we’ve had with Summit CPA started out positive from the very beginning.” - Adam Hale 

 

The finer details of this episode 

  • How Summit CPA approaches the onboarding process
  • Why we have a team designated for onboarding new clients (and why we charge extra fees)
  • The keys to a successful onboarding process
  • Expectations we always set with our clients
  • Best practices for communicating with clients
  • Who is involved in onboarding? What are the roles to fill?
  • How long onboarding takes for us and what the timeline looks like

 

Episode resources

Structuring client meetings for success02 Mar 202000:27:24

Quote

“You don’t need a silver bullet every time you meet with your client” - Jamie Nau 

 

The finer details of this episode 

  • How to prepare yourself and your client for your meetings 
  • How Summit CPA has done this in the past and how we do it now 
  • The core meetings that you need to have with your client 
  • Conversations that are important to have in your meetings 
  • How to decide and communicate who should be in each meeting 
  • What the meetings look like for each service your CPA firm offers 
  • How long your meetings should be and how frequently you should hold meetings 

 

Episode resources

Marketing Your CPA Firm17 Feb 202000:26:11

Quote

“The marketing for Summit CPA is focused on building relationships. ” - Kelly Schuknecht

 

The finer details of this episode 

  • How to choose which priorities to focus on when marketing your CPA firm
  • Why good marketing is education-based and why you shouldn’t be afraid to “give out too much information”
  • How to determine if a marketing tactic is effective or not
  • How to leverage the different social media platforms for brand awareness
  • Leveraging the team at your CPA firm for a strong marketing strategy
  • How to choose the right tools for marketing your business
  • Tools we use at Summit CPA to make our marketing easier

 

Episode resources

The Virtual CFO Process03 Feb 202000:30:31

Quote

“If you really want to grow your firm and scale your practice, you have to have a process.” - Adam Hale  

 

The finer details of this episode 

  • What it was like in the early days of Summit CPA
  • How Summit CPA uses the 80/20 rule to embrace creativity with clients while also keeping solid systems behind the scenes
  • Tools we use to standardize our systems
  • What our processes look like at Summit CPA
  • How creating videos is the best way to standardize processes
  • How to standardize meetings without being too rigid
  • How standardizing and recording systems helps in onboarding new team members
  • Why you should be careful about over-standardizing

 

Episode resources

Tax Integration with Virtual CFO Services21 Jan 202000:25:05

Quote

“Taxes are a natural fit with any kind of CPA services you provide.” - Adam Hale  

 

 

The finer details of this episode 

  • How the tax services fit in with the other Virtual CFO services at Summit CPA
  • Why we don’t lead with tax services
  • Why CPA firms should departmentalize their tax work
  • Why taxes should be a small part of your CPA firm
  • The tax strategy we use with our Virtual CFO clients
  • How we are going to continue to improve our tax services in the future
  • Why doing taxes for Virtual CPA clients improves the overall client experience
  • Why it is so much easier to do taxes for Virtual CFO clients

 

Episode resources

Tips for Selling Virtual CFO Services06 Jan 202000:30:04

“For us, it’s about a long-term relationship. It’s about being a part of our client’s business for years to come, not just about cranking out one tax return.” - Adam Hale

 

The finer details of this episode

 

  • How we sell our services through education.
  • Why you should give away as much information as possible to your client base.
  • How to position yourself as the subject matter expert.
  • Why finding a niche is valuable.
  • What to consider when choosing your ideal client.
  • What the Summit CPA sales process looks like.
  • How Summit CPA’s sales process is unique and why it works so well.

 

Episode resources

How accounting firms can keep up with technology31 Dec 201900:19:18

“One of our strengths as a firm is that we are not afraid to move on to the next best software.” - Jamie Nau

 

The finer details of this episode

 

  • The different types of software that Jake and Adam learned about at Live 360, an IT conference they attended in Orlando.
  • The software programs that Adam and Jake want to bring to the firm to upgrade how things work on the back end.
  • The advantages of the Microsoft platform and what they think it will bring into the workspace.
  • The advantage of Sharepoint and why the firm is moving in that direction.
  • The logistics of how they got members of the team to the conference.
  • The advantages of sending your team members to conferences.

 

Episode resources

 

Why hiring is SO important11 Dec 201900:26:53

“We’re not just looking to hire someone with an accounting degree. Customer interaction is very important to us.” - Zach Montroy 

The finer details of this episode 

  • The Summit CPA hiring process.
  • Are passionate people driving HR?
  • Culture, values, and EQi.
  • The tough questions Summit asks in the interview process.
  • How Summit CPA’s leadership team is involved in the process.

Episode resources

Becoming the firm of the future28 Nov 201900:27:32

“They don’t feel like they have to guess while they grow. There’s a concrete plan.” - Jake Grimm

The finer details of this episode

  • Why Adam thinks Summit is the firm of today.
  • What Summit CPA is doing with tech to be efficient.
  • How to save 30 minutes a week per client
  • The keys to evaluating tech tools.
  • The Summit CPA tech stack.
  • The power of forecasting.

Episode resources

How we built our team using a distributed model19 Nov 201900:26:32

“If they’re not willing to get on camera, then they likely won’t be a good prospect.” - Jody Grunden

The finer details of this episode

  • What is a distributed model and terms used to describe it.
  • How Summit CPA became distributed.
  • The logistics of working from home.
  • The tools used to support a distributed model.
  • Why in-person events are important.

Episode resources

Navigating the Complexities of Financial Planning for Business Owners with Adam Koós02 Sep 202400:46:09

“Procrastination is a huge problem, but the bigger problem is the lack of awareness of the need for owners to start planning now, whether you're selling in three years or 13 years.” – Adam Koós 


The finer details of this episode:

  • Financial strategies for clients with appreciated properties
  • Challenges faced by business owners in managing real estate assets and company structures
  • Tax implications of selling a business and recasting financials
  • Importance of proactive financial planning and business transition for business owners

 

Episode resources:

 

Timestamps:

The introduction (00:00:00)

The hosts introduce the podcast and its mission, providing insights on accounting strategies and innovative tools.

 

Adam's career story (00:00:55)

Adam shares his unconventional career journey from pre-med to becoming a financial advisor and the founding of Libertas Wealth Management Group.

 

Services provided by Libertas (00:04:45)

Adam discusses Libertas' services, including financial planning, retirement planning, exit planning for business owners, and working with working professionals.

 

Financial strategies for clients with appreciated properties (00:07:26)

Adam explains the 1031 exchange and passive real estate investing as a solution for clients with appreciated properties who want to avoid active management and taxes.

 

Liquidity and risk management in passive real estate investing (00:13:51)

The discussion explores the liquidity and risk management aspects of passive real estate investing, including spreading risk by investing in multiple properties.

 

Impact of COVID-19 on commercial real estate (00:15:39)

Adam discusses the potential impact of COVID-19 on commercial real estate, including lease expirations and mortgage debt held at community banks.

 

Elevate your firm with a virtual CFO playbook (00:16:36)

An advertisement for a comprehensive online series to create and deliver scalable CFO services.

 

Real estate and business ownership (00:17:18)

Discussion on the strategy of keeping the building and retaining an income stream after retirement.

 

Transition planning and exit planning (00:18:00)

Clients' experiences in selling their companies, keeping properties, and the process of selling properties.

 

Engagements with business owners (00:18:55)

Exploration of the two types of engagements with business owners, focusing on personal and business guidance.

 

12-step process for business owners (00:19:47)

Explanation of the 12-step process to increase the value of the company, decrease time in the business, and increase efficiencies.

 

Risk assessment and advisory work (00:21:34)

Discussion on risk assessment, tax planning, and the need for expert assistance in various aspects of business planning.

 

Recasting and tax strategies (00:23:47)

Importance of recasting business expenses and tax strategies for business owners preparing to sell.

 

Cash balance plan and retirement strategies (00:26:27)

Explanation of cash ba

How we bootstrapped the firm of the future22 Oct 201900:29:58

“If we want to make an impact in the industry, if we want to change the way everyone is thinking, then we have to get our peers to do the same.” - Adam Hale 

The finer details of this episode 

  • Jody and Adam share how they got into the accounting industry
  • What Jody wanted to differently when starting Summit CPA
  • Moving from an hourly model to value-based pricing and achieving a negative AR
  • The type of services that Summit CPA provides to clients
  • How Summit CPA helps accountants go virtual
  • What role does core values play in the organization

Episode resources

Redefining Financial Planning and Reporting for Small Businesses and Startups with Blagoja Hamamdjiev19 Aug 202400:48:39

“The reason I started Modeliks is because it took me three weeks to create a proper financial model in Excel for every new client. With our predefined financial model template, you have that handed to you on a plate.” – Blagoja Hamamdjiev


The finer details of this episode:

  • Discussion about business planning and financial reporting software for startups and small businesses
  • Main features of Modeliks software, including financial planning, budgeting, and advisory services
  • Importance of driver-based financial planning and its impact on business results
  • Cost-effectiveness and pre-defined financial model templates by industry within the software
  • Integration of financial tables and charts with pitch decks and business plans
  • Efficiency and time-saving benefits of using the software for financial modeling and planning
  • Dashboard functionality, including tracking financial progress and accessing various charts
  • User experience and flexibility of the software, including multi-user collaboration and planned AI integration
  • Levels of support provided by Modeliks, including customer support and live sessions with screen sharing

 

Episode resources:

 

Timestamps:

The introduction (00:00:00)

The hosts introduce the podcast and its mission, setting the stage for the upcoming episode.

 

Guest Introduction and Background (00:01:48)

The hosts introduce Blagoja Hamamdjiev, CEO and founder of Modeliks, and discuss his personal and professional background.

 

Global Nature of Modeliks (00:04:22)

Blagoja discusses the global footprint of Modeliks, including the location of their team and their incorporation in Ireland.

 

Using Modeliks for Financial Planning and Advisory Services (00:07:51)

Blagoja explains how Modeliks can be used for creating financial plans, pitch decks, and business plans, including its applications for advisory services.

 

Driver-Based Financial Planning (00:11:32)

Blagoja delves into the concept of driver-based financial planning and its importance in managing and improving businesses.

 

Integration of Financials with Pitch Deck and Business Plan (00:16:29)

Discussion on how Modeliks integrates financials with pitch decks and business plans, providing a unique and efficient solution for businesses.

 

Cost and Industry-Specific Financial Model Templates (00:19:31)

Blagoja highlights the cost-effectiveness of Modeliks compared to other software and the availability of industry-specific financial model templates within the software.

 

Creating Financial Models (00:20:26)

Blagoja explains the time-consuming process of creating financial models in Excel and the efficiency of using Modeliks templates.

 

Flexibility and Data Integration (00:22:31)

Discussion on the flexibility and data integration capabilities of Modeliks, including the current and planned data input methods and integrations.

 

Dashboard and Reporting Functionality (00:28:12)

Blagoja details the dashboard and reporting functionalities of Modeliks, including variance analysis, charts, ratios, and custom KPIs.

 

Future AI Integration (00:32:01)

The planned integration of AI features in Modeliks,

Strategies for Revolutionizing Client-Centered Financial Advisory with Tyson Ray05 Aug 202400:45:29

“The total relationship is about making life better for the client, focusing on what they need in the next 6 to 12 months, and helping them prioritize their financial decisions.” –Tyson Ray


The finer details of this episode:

  • The concept of the "total relationship" in financial planning
  • The importance of understanding clients' short-term goals and concerns
  • The role of wealth advisors in understanding clients' motivations and aspirations
  • Proactive planning and collaboration between financial advisors, CPAs, and attorneys
  • Educating clients about tax planning, investment decisions, and trade-offs
  • Seeking deeper, more fulfilling connections beyond just financial matters

Episode resources:

 

Timestamps:

The welcome and introduction (00:00:00)

Introduction to the podcast and the mission of providing insights for accounting firms.

 

Guest introduction and perspective (00:00:30)

Discussion about the unique perspective of the guest, Tyson Ray, and the value he brings to the audience.

 

Introduction to the show and guest (00:00:53)

The host and guest host introduce themselves and welcome the audience to the show.

 

Tyson Ray's background and mission (00:01:19)

Tyson Ray introduces himself, his role, and his mission to help clients and the community.

 

The total relationship and client value (00:02:43)

Discussion about the importance of understanding the client's needs and building a valuable relationship.

 

Expanding services and expertise (00:03:40)

Tyson Ray's decision to expand his expertise and focus on business exit planning.

 

The Total Relationship book (00:05:05)

Introduction to the book "The Total Relationship" and its focus on client relationships and communication.

 

Client-focused planning approach (00:06:31)

Explanation of the three parts of the total relationship: life plan, wealth plan, and care plan.

 

Client relationship parallels (00:08:10)

Discussion about the similarities in client-focused approaches between wealth management and financial business services.

 

Prioritizing client needs (00:08:31)

The importance of prioritizing client needs and guiding them through their financial journey.

 

Life plan and client background (00:10:04)

Exploration of the life plan, including family, health, and personal goals, to better understand the client's needs.

 

Client's family and personal life (00:11:28)

The significance of understanding the client's family dynamics, including parents, children, and personal experiences.

 

Life plan and client's lifestyle (00:14:18)

Discussion about the life plan, including travel, recreation, home improvements, and major purchases, to enhance the client's lifestyle.

 

Client's life plan and financial decisions (00:15:53)

The importance of aligning financial decisions with the client's life plan and rewarding themselves for their

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