078 How To Build Your Accounting Firm Tech Stack

XPM www.xero.com/u...
Aero www.aeroworkfl...
Pixie www.usepixie.com/
Liscio www.liscio.me/
Senta www.senta.co/us/
Qount www.qount.io/
Mango mangopractice....
Karbon karbonhq.com/
Keeper keeper.app/
Copilot www.copilot.com/
Jetpack jetpackworkflo...
Canopy www.getcanopy....
Firm360 www.myfirm360....
Elephant getelephantcpa...
TaxDome taxdome.com/
Client Hub clienthub.app/
Financial Cents financial-cent...
💰Today's Sponsors
Cloud Accountant Staffing www.cloudaccou...
Canopy getcanopy.com/
ClientHub clienthub.app/
Xero Roadshow www.xero.com/u...
Jason's Twitter / jstaatscpa
Jason's LinkedIn / jstaats
Jason's KZbin / @jasoncpa

[@DerekFoote1985]

I also think it's helpful to map out your expected process independent of any PM system. What's the steps in your process? How are they communicated or handled? What do you want your document storage to look like? How do you communicate to clients? What do you want automated vs. what needs to be tailored? Do you want to have one go to platform, or build "best in slot"? Basically imagine a project beginning to end and all the fiddly details and steps along the way. Knowing what your ideal process, communication methods, storage, etc. looks like enables you to go out and find the PM system that best fits that picture. And there won't be a perfect fit, but it'll help you build an idea of "must haves" and "can't stands" to modify from there. I turned away from a few PM systems because they lacked a "must have" or had a "can't stand."

[@ryanc4199]

Great video, Jason (I mean, is there ever a bad one?? 🤣). The list of apps is really helpful, too. Thanks for taking time to consolidate this... it's really helpful for me. As I was listening to you, it dawned on me to that the practice management app I choose really needs to be selected for MY future growth. While I'm tiny right now, I have plans to be bigger and I don't want to outgrow the app I select. It's so disruptive to change down the road. So, since I'm just starting my firm, I'm waiting a little while to pull the trigger to see how my own firm processes and client interactions solidify.

[@RomeoHatesShrimp]

Missed this episode yesterday but great vod as always 🥂

[@nerf_herder90]

For the algorithm!

[@MoetheCPA]

CCH wants to charge 8k for setup fee to get Workflow XCM to complement CCH Access Tax. And the XCM cost is like 8k per year for 15 ppl. But it does not do all that like a tax dome does. But TD also a little scary is they want a 3 year prepaid commitment to get $50 per user per month

[@JasonCPADaily]

Ye you'll notice XCM isn't on the list

[@dons1643]

I am using TD and did not opt in for the 3 yr deal and am paying $80/mo but can quit whenever I want since it's monthly... I have been using it for a few months now and like it. It does a lot of things well, but I still use Salesforce for my CRM. I looked at XCM and thought it was way too expensive for my firm. I think TD does the core things that are important to Accounting and tax firms. and they have been working on the client facing app, and client experience - which is very important.

[@metincapani3476]

Just catching up to your stuff. Wow! Really good! Does it make sense to run Canopy and Keeper at the time? 50 clients all on qbo. Team of 4. Just curious if working with Keeper will cause double work. But it does offer a cool central point to see where everything stands and it's synced with qbo. Thoughts?

[@JasonCPADaily]

I know a lot of smart folks running this stack, I think it makes sense. Keeper's something you could probably bolt to any other system since what it's doing is still so unique

[@orgtax]

What do you suggest for the 100-300 person firm? Are we stuck with the old guard, non-cloud beasts?

[@JasonCPADaily]

XCM seems like the least bad of the bad options but admittedly I'm not an expert here But in a couple more years you're going to have some better cloud options

[@moorelife5688]

Hey Jason! I am faced with a dilemma and I would love to have your feedback. I am a senior accountant and have spent the majority of my career in banking and PE. I would like to go get my CPA and open a firm. So this would mean I need to obtain a masters degree, but I am curious if the school matters. I have one group of people saying go to WGU because it’s cheap and online. With the other group telling me to go to a large state school due to better credibility. From your perspective as a firm/business owner does school matter? Thanks!

[@JasonCPADaily]

No and I'd even extend that to say the CPA really doesn't matter either unless you're going to do attest work. Firms have to get a prospective client's attention by being different - somehow better for them than anyone else. If they're looking at credentials you've already lost the battle. My framework is something along the lines of: 1. Get experience doing what I think I want to do - this may mean doing it for a firm for a bit 2. Get that side hustle started 3. Go all-in and make sure that's the thing you want to do 4. Then consider if credentials + school will make you better The more we stack up those barriers to just getting started, I think the more we lose sight of having the flexibility to explore, and learn what you'll ultimately enjoy most! It's about you, after all, and what you can spend the next decade doing happily.

[@moorelife5688]

@@JasonCPADaily This is great! I appreciate your insight and your frame work is definitely eye opening as I never thought of it that way. Keep up the great content and I hope you have wonderful rest of your day!

[@nathansosa1121]

Had someone tell me two weeks back that the Practice CS integration was great and you didn't need anything more.... Won't even lean into Onvio

[@Smuddpie]

Lies. Practice CS will push client info (address, SSN) to UT and then drive you crazy with data sharing requests because some someone's address is Dr. in one and Drive in the other. That's about it.

[@nathansosa1121]

@@Smuddpie it was someone from a firm j used to work for, all Practice CS ever brought was pure pain

[@DerekFoote1985]

I didn't mind PracticeCS. Some of the data sharing was incredibly helpful but it's a beast that takes a lot of work to get setup and running well. The reporting features felt antiquated and hard to get the data you wanted. Never used Onvio, but have no heard good things. Went out on my own and kept UT, didn't touch any other TR products for the rest of my systems.

[@brendacannon3062]

Did Practice for years. Hated it. Moved to Onvio for $$$. Used it maybe one year. Hated it. Then moved to Firm360. 🙌🏻

[@JasonCPADaily]

@@Smuddpie Oh no everyone just needs to click the exact right buttons on data sharing requests 100% of the time then it isn't a problem 🤡

[@ryanmarlar5189]

Is there any good on-premises software anymore? I see the appeal of cloud/Saas. But it is getting seriously out of control. The fees creep up, there are constant password requests. Multi factor verification is quite possibly the most annoying time suck. I’d like to buy something and own it. Any help would be great.

[@JasonCPADaily]

I suspect those days are behind us, as it's much more lucrative for software co's to build around the recurring revenue model