9 to 5 Accountant

@ConnorAbene Which bio? The Twitter one? Asking because I need a new bio :)

I came across 4-5 CFOs who stole my bio word for word. Be so good they start copying you 😅

@MatznerJon All you care about is paying people $8 an hour and brag about it to your other white friends

Everybody wants to own a small business. Nobody wants the overnight “oh fuck am I going to make payroll sweats”.

@BrettFromDJ @StocksRus007 Lol you deleted the post? Loser. Go sell your course lol

@StocksRus007 Well ain't that the pot calling the kettle black.

@cadeinvests So what do I do on Monday with 10k to invest? Am I too late? Thanks.

Wild stat. Since 2019 the S&P 500 has returned over 100%. Any amount invested would have doubled in a little over 5 years. Without you lifting a finger.

@JasonHershman You have to be okay with messy processes and knowing it's not going to be just one job for you, it's usually like three jobs in one.

What’s the one thing you wish people would know about the role of finance at a startup?

@ConnorAbene Much appreciated!

@9to5Accountant I personally only manage 6-9 at any given point. We have found that’s the limit for anybody managing clients with the involvement we want.

I manage $600M in revenue for 75 clients. Whenever I take on a new client, they’re almost always making the SAME mistakes. If you want to be ahead of 80% of SMB owners, avoid these 3 big mistakes at all costs: 1/ Not Having A Clear Goal "I want to grow my business" is not a goal, it's a platitude What's the: 6-mo priority? 5-year roadmap? top KPIs you're tracking? It doesn't even have to be a financial goal. But it needs to be specific, clear, and measurable. 2/ Not Understanding The Economics Of Growth There's always a lag between investing & generating a return on it: • Hiring • Capex • Technology Accept your numbers will go down (expense) before they bounce back (return). Because business growth is never "smooth", it's "lumpy". 3/ Not Knowing Earnings Are NOT Free Cash Flows It takes cash to run & grow a biz: • Lead gen • Maintenance • Working capital Earnings NEVER equal Free Cash Flows. You can often "only" distribute 15-25% of what you earn. What you earn isn't what you can take out. If you understand these "big mistakes", you're already ahead of 80% of biz owners. I'd love to hear what you think about this! If you liked this, share it & follow @ConnorAbene for more!

@seandsweeney Yes! The honda accord hybrid touring is the best!

I might trade in my $80,000 Volvo and get a Honda Accord. Our SUV has been in the shop and we got an Accord as a loaner. No acceleration, but what an economical car! Great gas mileage, reasonably priced & plenty of interior room. Am I crazy for thinking I might buy one next?

@jonbrosio TRIP

My students are making $100-$300/day with tripwire funnels (Even w/ tiny audiences) Now, I'm sharing exactly how they did it... Want it free? Like & reply "TRIP" and I'll send it to you [Must be following to get DM – 36 hours only]

@ConnorAbene Where's the cash come from then? Thx

How I approach buying businesses: • Little debt • Lots of cash • Never be the highest bidder Simple.

@sceniusmexico Any meetups in Playa del carmen/cancun area? I'd host one with you.

I already hosted 8 private Afterwork events in Mexico City this year. I will host a few more before the summer. The Scenius Afterworks are a series of private networking events (10-12 ppl) for digital entrepreneurs and startup founders. The Startup ecosystem is big in Mexico, but there's still a lack of real community. Let's build it 😎 Who's in?

@DreamFirms @Xero @freshbooks What did Intuit do?! I used to like xero but I used to like QBO as well so

Hey @taxtwitter, I'm officially done with Intuit after their latest stabbing in the back of accountants and want to migrate my business to @Xero or @freshbooks. Pros? Cons? Estimated cost of migration? **If you say 'it depends' please tell me what it depends on 😉**

@BuffCpa @tailor_hartman I bought a new computer and still happening. But glad that worked for you!

@tailor_hartman Have you cleared your cache and cookies, rebooted your computer, and tried again? I had this issue the day you first posted. The next day it was fine. I was in there yesterday and just now, with no issues.

They still haven't fixed this issue....

@HerschbeinCPA Sending you the best, get better!

Ouch. #BrokenFoot #HappyTaxDay #April15

@tailor_hartman It costs a lot of money to implement Netsuite, so Sage has more affordable options for clients that don't need ti fully leap into a netsuite erp environment but still need consolidated FS for example. Something QB desktop can't do.

@tailor_hartman Yes, great for biotechs and manufacturers. I think it's an impressive software for the right clients, some don't need it so we don't even go down that path. Usually go with Sage for those clients that don't need netsuite yet.

Do any of my accounting friends on here use Netsuite?

@JWellsTax 366* this year

Some of y’all don’t run your ceiling fans 24/7/365?

@darienpayton Takeover and own the roles = outsource controller. I'm available. Monthly flat fee, reporting whenever you need it.

random q for my agency owner homies: I'm looking for someone to takeover bookkeeping, payroll & ar/ap for us. what's the correct title for this?

@JensLennartsson On Samsung? I'm looking into a gimbal tripod now for my S23 ultra

I want to record short videos on my phone (Android) and add nice-looking subtitles before uploading them to Twitter. What is a good app to use?

@DIBookkeeping I have staff reach out to the vendor quarterly for stmt of account, then ensure it matches. Very manual but it works

Esteemed Bookkeeping Associates: How are you reconciling Vendor accounts in QBO, if at all, considering that you cannot use the reconcile function on a Vendor account. We're getting some bigger clients and need a good process for this. Any slick ideas appreciated!