SURVEY: Firm Size Matters in Tax Software Choice

PLUS: More trends and insights from annual operations and technology survey.

By Randy Johnston and Brian Tankersley
The Accounting Firm Operations and Technology Survey

The tax, practice management, and time & billing software a firm chooses depends heavily on the size of the firm, according to the new Accounting Firm Operations and Technology Survey.

MORE: Top Challenges? Staffing, Staffing, Staffing
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

Dell far and away leads the hardware wars, and Fujitsu remains the top name in scanners but Canon is gaining ground. VMware tops virtual server use and older operating systems are being ushered out the door and Windows 10 adoption stands at 93.1 percent.
READ MORE →

Tax & Accounting Firms Rehire Two-Thirds of Pre-COVID Workforce

Payroll services on a roll… unless you look at last year.

By Beth Bellor

An incomplete recovery seems to be the theme for recent employment reports.

Employment in the accounting profession reversed its downward trend from the previous month to hit 1,014,000, the highest mark since March.

MORE ON JOBS: New Job Cuts at CPA Firms | COVID Job Toll: Tax & Accounting Cuts 17,500 Employees | Firms Recall Half of Furloughed Staffers | Covid Kills 67,600 Jobs in Tax and Accounting | Pre-COVID-19, Accounting Profession Hits New Highs
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

You remember March and April, right? One month there were 1,042,800 accounting jobs; the next there had been a 7.5 percent nosedive to 965,000. With September’s figures, we’ve regained 63 percent of that 77,800-job decline.

In this report, CPA Trendlines highlights:

  • Current and long-term hiring trends in each of the bookkeeping, payroll, tax, and CPA segments of the industry (all data seasonally adjusted)
  • Average hourly wages for key segments
  • Typical hours worked per week
  • Trends concerning women in the accounting workforce

READ MORE →

New Job Cuts at CPA Firms and No Recovery in Sight

Payroll remains the hardest-hit sector.

By Beth Bellor

After shedding 77,800 jobs in April, tax and accounting employers have added back 45,300 employees, but the total headcount has dipped again and remains down by 32,300 from the pre-COVID level, according to the latest data reviewed by CPA Trendlines.

MORE ON JOBS: COVID Job Toll: Tax & Accounting Cuts 17,500 Employees | Firms Recall Half of Furloughed Staffers | Covid Kills 67,600 Jobs in Tax and Accounting | Pre-COVID-19, Accounting Profession Hits New Highs | Planning for the Coronavirus Recession
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

In this report, CPA Trendlines highlights:

  • Current and long-term hiring trends in each of the bookkeeping, payroll, tax, and CPA segments of the industry (all data seasonally adjusted)
  • Average hourly wages for key segments
  • Typical hours worked per week
  • Trends concerning women in the accounting workforce

READ MORE →

Opportunities in Common and Uncommon Services

bar chartWhat do your clients want that your competition doesn’t offer?

By CPA Trendlines

Virtually every CPA firm faces two common challenges:

  • Get the work done.
  • Find more work.

MORE: Three Hidden Surprises in PPP Loan Forgiveness | Cloudy Forecasts Call for Rainmaking  |The Forecast: Partly Gloomy, Chance of Doom  |  Busy Season Benchmarks in Free Fall  | Say Hello to the New 24-Month Busy Season | Maybe the Pandemic Isn’t All BadCOVID Drives New M&A Trends  |  Re-Thinking Today’s Firm with Five Global Leaders|  Clients Want to Pay You More (Really!)

GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

 

Or, to put it another way:

  • Satisfy clients.
  • Find more clients.

READ MORE →

Cloudy Forecasts Call for Rainmaking

Have you assessed your clients’ needs, or just provided what they asked for?

The average monthly price paid for accounting services: Clients who do not receive advisory services pay their firms an average of $1,108 a month. They’d be happy to pay $564 more.

By CPA Trendlines

Rainmaker alert! The cloudy skies of 2020 show a good chance of precipitation.

More in Surveys & Research: COVID Impact: 17,500 Tax & Accounting Jobs LostCAS: Critical Success Factors for the Covid Age | Clients Want to Pay You More (Really!) | The Forecast: Partly Gloomy, Chance of DoomBusy Season Benchmarks in Free Fall | Say Hello to the New 24-Month Busy Season | Accounting Firms Take Billions in PPP PayoutsThe More Monitors, the Better | The Top Portable Monitors for Working from Home

GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

But praying for rain isn’t going to work. Neither will a rain dance. The most effective action is often simply a matter of asking and offering.

A new survey of small and midsized businesses and their CPA firms finds that clients are generally willing to pay 50 percent or more for additional accounting-related advisory services … but only if their accounting firm offers them.

READ MORE →