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Touch it Once: How 2020 Became My Firm's Most Productive and Profitable Year

TOUCH IT ONCE: HOW 2020 BECAME MY FIRM'S MOST PRODUCTIVE AND PROFITABLE YEAR

Cost Free
Presentation Length 1.0 hour

Recorded DateNovember 16, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Course LevelBasic
Course Description

The year 2020 has been a challenging one for everyone, CPAs included. For one CPA firm, however, it was the most productive, profitable, and efficient year ever. This firm experienced its highest realization of 140% across all clients, despite not charging extra for PPP loans and loan forgiveness. They did more work for more clients in less time—all while using fewer people and providing better client service. There was higher client satisfaction with no last-minute filings or surprises. 

All this efficiency was possible because this firm adopted a “touch-it-once philosophy.” This philosophy begins with efficiently gathering client data and then integrating it into a standard workflow that combines engagement letters and billing into one task once a year. Streamlining tasks has allowed this firm to focus on client service and be more efficient in filing tax returns. They’ve been more productive and profitable, navigating COVID-19 and PPP service obstacles with ease.

Learning Objectives:


  • Recognize how a “touch-it-once philosophy” pays off in unexpected areas 

  • Identify how to properly assess and maintain the collective value of a client base over exceptions based on individual preference

  • List third-party applications and how to maximize their value

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Bacogroup

Ford Baker, CPA, has over 35 years of experience in the public accounting industry, with over 20 of experience running a firm, BaCo Group, PLLC. In that role, Ford always sought to improve the efficiency of his firm through technology and forward-thinking. His passion was built out of a unique backstory; in 2012, he weighed almost 400 pounds, but by 2014 he had changed his life and rode a bicycle from Canada to Mexico down the Pacific Coast Highway. He had a passion and focus on eliminating the clutter in his practice that created the 400-pound version of himself that he did not want to see return. Ultimately, Ford developed an in-house transaction-based workflow using Excel and various other off-the-shelf utilities that gather data and work with data more real-time. This workflow concept can change the industry from a reactive service from putting last year’s balances on last year’s returns to proactive services, teaching clients the impact of this year’s numbers on their business, its exit value, and next year’s tax bill, today.

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Joe Abesamis

BaCo Group
Tax and Client Services Director
joe.abesamis@bacogroup.com

Bacogroup

Joe Abesamis is a redemptive CPA who exists to fix what is wrong in the public accounting profession. Since 2007, he has worked in various firms where billable hours were valued over outcomes, profits came before people, and men became machines. He wants to reverse the curse and provide hope for a brighter future to the profession. Joe aims to inspire the next generation by example through BaCo Group, PLLC, a boutique tax and accounting firm, and BaCo Tech, an accounting tech company that will eliminate “busy” season from our vocabulary. Joe enjoys writing thought leadership articles for Intuit and Sage and is an active member of the innovative accountant's group, Thriveal. Additionally, he is an active member of a CEO peer advisory group of executives who challenge and inspire each other to make better decisions, Vistage International.

About Our Presenter

Bacogroup
BaCo Group, PLLC is a full service, boutique-style, accounting, tax and attestation firm that partners with entrepreneurs and owners to provide high-quality service. It provides a full range of tax planning and preparation services, accounting consulting and attestation services, outsourced ‘CFO’ related services, and more. BaCo Group utilizes a patent-pending process that seamlessly integrates client accounting records into our workflow. That integration allows us to provide automated and consolidated online financial reporting, and eliminate redundancies on a readily available command center. We see the relationship between a business and its accountant as a partnership. We achieve this relationship in many ways, first and foremost, by working side by side with our clients throughout the year instead of a reactionary basis.