Sandi Leyva Training Solutions for Accountants

October 11, 2013

Links I Like – 8

  1. Supreme Court to Decide Payroll Tax Issue on Severance Pay
  2. California Crackdown on Tax Evaders – Good for Business?
  3. Xero Offers Free QuickBooks Conversion Service
  4. Please take Intuit’s Rates Survey

October 9, 2013

Is Your Chart of Accounts Stuck in the 1970s?

One of the value-added services we can offer clients is to align their chart of accounts with their tax form so that the numbers are easy to pull off at tax time.    But there’s an even bigger opportunity if we take a deeper look.

The traditional expense classifications on these forms are badly out of date.  For example, “Advertising” is listed, but “Marketing” is nowhere to be found.  Advertising and marketing are not the same!  Hardly anyone advertises anymore in our profession, but a lot of us market.  While we still need to comply with these forms, we need a different system if we are going to meet the needs of today’s startup businesses.

Changing With the Times

While the default charts of accounts provided with software are much more robust than our current tax forms, they still fall short.  Most haven’t changed since before the Internet.  Almost all haven’t changed for social media expenses.  They haven’t changed to account for cloud accounting costs.  They simply haven’t changed for a lot of new things we have expenses for now.

This disconnect provides accountants with a wonderful opportunity to custom-design a “modern” chart of accounts to meet the needs of today’s entrepreneurs.   My favorite area for improvement is, of course, accounting for marketing expenses.

Where Do Marketing Expenses Get Posted in Your Chart of Accounts?

When it comes to accounting for marketing expenses, I truly believe we need some big changes.  Where do you put business cards expenses?  Usually, it’s coded to office expenses or printing.  Where do you put the costs for a direct mail campaign?  Printing, postage, and professional fees (assuming you hired a graphics designer) contain these expenses.  Where do you put your social media expenses or the cost of your web site?  Since these expenses didn’t exist before most charts of accounts were designed, there might just be some changes that need to be made.

Shouldn’t you be able to see your marketing spend at a glance?

As both a CPA and a marketer, I want to know my total marketing spend at a glance.  I also want to know my selling spend.  That includes labor.  In addition to knowing my marketing spend, I want to know how much we’ve spent on each marketing channel as well as what it costs me to market each of our service lines.

Accountants that can answer those questions for their clients will be providing invaluable advice like a trusted advisor should.

October 8, 2013

Refer A Friend

We’re pretty jazzed to announce our new Accountant’s Accelerator 2014 Refer-A-Friend special offer.  We’d love for you to help us spread the word about our program.  And we think you should be rewarded for your efforts.

So here’s the offer:

  1. Tell your accountant friends about our program.  Your friend must be a new client, not an AA alum.  You can send them to  or  Be sure to show them the testimonials page:  We add new testimonials almost every week.
  2. Email your friend’s name and email address to with a subject line of “Refer-a-Friend,” and let us know you sent them.  We will not contact them directly.  We will not put them on any list.  You have our word on that.
  3. When their sale comes through, you’ll earn a $75 Amex Gift Card that we’ll mail to you.   You can earn multiple gift cards if you send us multiple new clients!

We do have a couple of rules:

  1. This program cannot be combined with our affiliate program.  Any new client coming through on an affiliate cookie will not qualify.
  2. Any marketing messages you send out on our behalf must be completely professional, with no pressure and no exaggerated promises.
  3. In case of conflicts, final judgment regarding this program and prizes awarded will rest with us.
  4. We hope to run this program for several weeks, but we reserve the right to end the program at any time.
  5. No purchase necessary.  Void where prohibited.  Etc. etc.

This offer starts today, so feel free to start spreading the word right away!

Thank you so much for being part of the Accountant’s Accelerator program.    We appreciate you.

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