Ask tax clients questions to identify advisory service opportunities

Posted by Mary Ellen Biery
accountants identify advisory services

Accountants preparing for the upcoming season may be tackling the annual checklists related to hiring, training, technology updates and scheduling. However, you can also use this time of year to do some casual research that will help identify advisory services that deepen relationships (and engagements) with clients throughout the year.…...

Sageworks Electronic Tax Return Reader usage triples

Posted by sageworks

Sageworks Electronic Tax Return Reader, the winner of the 2017 Barlow Research Monarch Award for Innovation saves lenders and analysts time by importing information from business borrowers' tax returns that are electronically produced by a tax package. This enables analysts to spread loans and reviews in seconds instead of manually…...

Grow your accounting firm by planning for the 2018 busy season

Posted by Mary Ellen Biery
CPAs plan for 2018 busy season

Seasonality/workload compression is perennially among the most pressing issues for accounting firms, especially for smaller practices. Indeed, this was a top issue among firms with fewer than 10 professionals in the latest AICPA Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey. With the final deadline of the 2016 tax…...

Credit unions: Determine risk ratings scale based on portfolio complexity

Posted by Kathleen Cline

When a credit union establishes its risk rating system it has to decide whether it will require analysts to separately rate the borrower (capacity) and the loan (facility) or to assign one rating that considers both factors together. Said another way, it has to decide between a dual or single…...

Transforming “lenders” into “bankers and advisors’: Developing the entire relationship

Elise Hauser
Posted by Elise Hauser

During a recent Sageworks webinar, Nick Miller, president of Clarity Advantage shared best practices to transform lenders into advisors to their business clients. During the webinar Miller discussed that business borrowers want a full banker relationship, not just lenders. When business owners seek funding, they also want to form a…...

3 Myths about providing advisory services to accounting clients

Posted by Mary Ellen Biery
provide advisory services to accounting clients

With the latest tax deadline behind them and the individual tax season ahead, accountants this time of year often realize that they are on a treadmill of never-ending deadlines with only brief periods of relief. They may be enjoying the break they have now, but they know that the treadmill…...

Infographic: Retaining clients by the numbers

Matthew Jones
Posted by Matthew Jones

It is a well-known fact that retaining clients at accounting firms can be challenging. There are a couple statistical figures that can paint a helpful picture of the challenges preventing firms from retaining clients. One of the primary reasons firms are having a hard time retaining clients is because the…...

Which credential is best for performing business valuations?

Posted by Mary Ellen Biery
selecting business valuation credentials

Demand for valuations of U.S. businesses remains solid, so some accountants and other advisors might be weighing whether to pursue valuation credentials with one or more of the professional organizations in order to expand their services. Do you need a credential in order to provide business valuations? “In the broad, global…...

Retaining females at your accounting firm

Posted by Mary Ellen Biery
recruit and retain females in accounting firms

Finding qualified staff and retaining them rank as top issues at accounting firms of all sizes, according to the AICPA Private Companies Practice Section’s (PCPS) 2017 CPA Firm Top Issues Survey. Given that these two challenges perennially show up in this and other surveys, accounting firms would benefit if they…...

Best practices in risk rating policies

Elise Hauser
Posted by Elise Hauser

Policies are “the cornerstones for sound lending and loan administration,” and risk rating policies are a key component. Regulatory agencies lay out elements that loan policies should cover, such as what types of loans an institution will make and what information will be required from borrowers, but they rarely dictate…...