Archives for March 2025

Intuit’s Stockholders Meeting: What Accountants Need to Know

Earmark Team · March 24, 2025 ·

Intuit recently held its annual stockholders meeting. Even if you spend your day working hands-on in QuickBooks, it’s important to understand the bigger picture behind this publicly traded company.

In a recent episode of “The Unofficial QuickBooks Accountants Podcast,” hosts Alicia Katz Pollock and Matthew “Spot” Fulton analyzed the meeting and shared insights that can help accounting professionals plan for changes coming to the QuickBooks ecosystem.

Why This Meeting Matters

Intuit’s fiscal year ends on July 31, which means their annual meeting doesn’t line up with the usual calendar year or fiscal year. At each meeting, Intuit’s CEO, Sasan Goodarzi, and other leaders present the company’s strategy and financial results. Matthew explains he listens to these meetings because it reveals how Intuit’s plans match what accountants are seeing on the ground.

An AI-Focused Vision

Intuit decided in 2018 to become an “AI-driven expert platform.” Goodarzi calls AI the greatest technology shift since electricity and the internet. Whether you agree or not, Intuit is already seeing major results:

8x faster development velocity (roughly 30% quicker feature delivery)
11% fewer direct customer support calls thanks to AI-powered self-service

Intuit also applies AI inside its own operations. Matthew describes it as an “eat your own dog food” strategy: They’re not just releasing AI tools for customers; they’re using the same tools internally to reduce workload and speed up development. For accountants, this means QuickBooks may change more quickly, making it vital to stay informed about new features.

Five Big Bets for Growth

During the meeting, Intuit repeated its “five big bets” for driving innovation:

Revolutionize speed to benefit
Connect people to experts
Unlock smart money decisions
Be the center of small business growth
Disrupt the mid-market

The “connect people to experts” bet includes both Intuit’s own experts and independent accounting professionals. While some accountants worry about QuickBooks Live as competition, Alicia points out that the QuickBooks Live Expert Assist model can allow ProAdvisors to focus on higher-level services while routine questions go elsewhere. In many cases, accountants can also sign clients up for QuickBooks Live and share revenue.

Expanding the Ecosystem: Mailchimp and Credit Karma

Intuit’s acquisitions of Mailchimp and Credit Karma once puzzled some users. Now, the strategy is clear: create a complete platform. A business might start small in QuickBooks, then grow and need Mailchimp for marketing, or use Credit Karma to secure funding. Intuit reported:

22% more customers using both Mailchimp and QuickBooks Online
5x increase in Credit Karma users who finish taxes in TurboTax

This cross-platform synergy is part of Intuit’s plan to keep business owners on their products for every financial need. Meanwhile, the company continues to see massive usage overall:

$2 trillion in invoices managed across the platform
$124 billion in total payment volume
$10.4 trillion in consumer debt visibility via Credit Karma

QuickBooks Online Growth and Payroll

QuickBooks Online’s U.S. customer base grew by 11%, and QuickBooks Online Advanced saw a 28% rise in subscriptions with an 84% retention rate. QuickBooks Online Payroll revenue climbed by 23%, with 18 million workers paid through Intuit’s payroll systems each year.

These numbers highlight Intuit’s growing influence. Matthew believes the trifecta of QuickBooks Online Advanced, QuickBooks Time, and QuickBooks Payroll offers more advanced project tracking, streamlined payroll, and faster reporting. Alicia adds that the new features—like revenue recognition and updated reporting—make QuickBooks Online Advanced more compelling than ever.

New Mid-Market Focus: Intuit Enterprise Suite

To “disrupt the mid-market,” Intuit introduced Intuit Enterprise Suite. They estimate the average revenue per customer (ARPC) at about $20,000 a year—or roughly $1,600 a month. While still in early phases, it could give companies that have outgrown QuickBooks Online Advanced or Enterprise more reasons to stay with Intuit. Additional API features and custom fields may arrive soon, which could benefit app developers and clients with more complex needs.

What About Mint?

A shareholder asked if Mint, Intuit’s personal finance tool, might see a refresh. Goodarzi gave a brief response suggesting no big revival is planned. This indicates Intuit remains focused on other core products, including QuickBooks, TurboTax, Mailchimp, and Credit Karma.

CEO Compensation and Long-Term Vision

About 7% of Goodarzi’s pay is salary, while 93% is in stock options. This structure links his earnings to the company’s success. Alicia sees this as a sign that Intuit’s leaders believe in their long-term strategy enough to connect most of their personal income to stock performance.

What It All Means for Accountants

Despite the rapid pace of AI and big-company acquisitions, Alicia and Matthew see opportunities for accounting professionals who adapt. QuickBooks Live might handle everyday questions, but accountants can build advisory relationships, train clients on best practices, and provide higher-level analysis. As Alicia notes, even though Intuit automates routine tasks, the human element remains vital for nuanced financial guidance.

Stay Informed and Keep Learning

To hear all the details—and pick up more practical tips—check out Episode 78 of the Unofficial QuickBooks Accountants Podcast. You’ll learn:

How Intuit’s “five big bets” connect to real-world QuickBooks features
Deeper insights into QuickBooks Online Advanced
Opportunities in QuickBooks Live Expert Assist
Ways to keep pace with AI and other tech shifts

By understanding Intuit’s direction, you can better guide your clients and spot new ways to grow your business. AI and automation are here to stay, but accountants who use these tools strategically can deliver even greater value.

Alicia Katz Pollock’s Royalwise OWLS (On-Demand Web-based Learning Solutions) is the industry’s premier portal for top-notch QuickBooks Online training with CPE for accounting firms, bookkeepers, and small business owners. Visit Royalwise OWLS, where learning QBO is a HOOT!

Streamlining Sales Tax Compliance: Exploring Avalara’s Managed Returns for Accountants

Blake Oliver · March 21, 2025 ·

Managing sales tax is one of the most challenging services to offer clients as an accounting firm.

Collecting sales information and filing tax returns traditionally involves a lot of work. It means logging in to multiple state portals, keying in sales data, and filing returns one at a time. With multiple clients filing in multiple jurisdictions each month, this quickly becomes unmanageable.

There’s also a big risk of making mistakes—if you slip up in one small way, it can lead to extensive notice correspondence and mounting penalties.

During an Earmark Expo webinar, hosts Blake Oliver and David Leary explored how modern compliance platforms such as Avalara’s Managed Returns for Accountants (MRA) allow you to expand your services without substantially increasing staff, risk, or costs.

Introducing a New Approach with Avalara

Avalara’s solutions aim to eliminate much of the repetitive manual work by consolidating data and automating return filings. John Sallese, Director of Strategic Accountant Solutions & Partnerships from Avalara showcased how Managed Returns for Accountants offloads the filing burden onto Avalara after the firm has reconciled the data.

Here’s how it works:

Data Collection and Review: Firms import or sync sales data from QuickBooks, Shopify, Amazon, or other systems into Avalara. The platform can also recalculate sales tax liability if needed.
Approval by the Firm: After confirming the monthly numbers are correct, the firm marks each return “Approved to File.”
Automated Filing and Payment: Once approved, Avalara files and remits payment on time, assuming responsibility for meeting deadlines, sending confirmations, and handling notices.

John noted that if the firm misses the approval deadline—usually around the 10th of each month—Avalara auto-approves to avoid late filings.

As an added safeguard, if any Avalara-caused delay results in penalties or interest, Avalara covers those costs under the terms of service.

Two Distinct Service Models: MRA vs. Returns for Accountants

Avalara offers two different models for accounting professionals:

Managed Returns for Accountants (MRA)

Firm’s Role: Gather and reconcile monthly data, approve liabilities.
Avalara’s Role: File returns, handle payments, and manage notices.
Key Benefit: Reduced risk for late filings and penalties, as Avalara takes over once data is approved.
Typical Cost: Ranges around $25–$30 per filed return (volume discounts may apply).

Avalara Returns for Accountants (sometimes referred to as “ARA”)

Firm’s Role: Owns the full process—import data, finalize calculations, file, pay, and manage notices.
Avalara’s Role: Provides the software platform, automation tools, and supports advanced e-filing flows.
Key Benefit: Complete control and flexibility over the entire return process.
Typical Cost: Generally lower per return because the firm does more of the work.

Many firms adopt both solutions.

Straightforward filings can go on the MRA model, where the firm approves data and lets Avalara handle the rest.

Complex cases, such as back-filing multiple years, voluntary disclosures, or clients with inconsistent monthly data, might be better served with the RA model, which grants the firm end-to-end control.

Notice Management and Advisory Opportunities

In addition to filing returns, MRA includes comprehensive notice management. This means Avalara addresses notices from tax authorities and resolves them directly, relieving firms of much of the back-and-forth associated with sales tax inquiries.

Firms also gain better visibility into potential advisory projects. “You’re not just filing returns,” John emphasized. “If you see clients calculating tax in states where they’re not registered, you can help them register or do a voluntary disclosure.”

Using these platforms can elevate the firm’s role from simple compliance processing to a strategic advisor, offering value-added services around taxability research, nexus studies, registrations, and more.

Implementation Considerations

John shared what to consider when you’re implementing Avalara MRA:

Data Integration: Ensure you can connect client systems (eCommerce, accounting, POS) to flow data automatically. This reduces manual entry and ensures more accurate filings.
Monthly Workflow: Clearly define who imports data, who reviews it, and when approval is due. MRA’s auto-approval protects against accidental late filing.
Client Onboarding: When setting up each client’s “filing calendar,” you’ll specify which returns need filing, the frequency, and any special state requirements. Avalara’s team verifies each setup to confirm accuracy.
Pricing Your Services: Whether you pass the per-return fees directly to clients or bundle them into a flat monthly charge, clarify the difference between MRA’s delegated model and RA’s self-service approach.

Elevate Your Sales Tax Practice

Sales tax compliance no longer has to be a necessary evil fraught with manual effort and risk. By choosing the right workflow model—either delegating filings to Avalara (MRA) or keeping them in-house (RA)—firms can scale sales tax services while maintaining appropriate oversight. The key is matching each client’s needs to the best approach.

Want to See a Live Demo?
Catch the full Earmark Expo session featuring Avalara, hosted by Blake Oliver and David Leary. You’ll see a real-time walkthrough of the platform and learn how to seamlessly integrate advanced compliance solutions into your firm’s existing workflow.

Earn Free CPE

Visit earmark.app to watch the webinar and earn free NASBA-approved continuing professional education credit.

7 Game-Changing Features in QuickBooks Modern Invoices That Save You Time

Earmark Team · March 21, 2025 ·

For accounting professionals who rely on QuickBooks, the invoice is arguably your most essential tool. QuickBooks’ modern invoice redesign represents one of the most significant overhauls in years, changing how you’ll create, send, and manage client billing.

In a recent episode of The Unofficial QuickBooks Accountants Podcast, hosts Alicia Katz Pollock and Dan DeLong explore these new modern invoices, which have been in development for about a year. Alicia says, “They originally drove us crazy, and now I’ve actually become quite fond of them”—a journey many accountants can relate to when facing significant software changes.

Getting Started with Modern Invoices

If you haven’t switched to modern invoices yet, you’ll need to take that first step manually. When viewing a standard invoice, look for the “Update Layout” button in the upper right corner. Clicking this will convert the invoice to the modern experience.

The new interface might initially seem to take up more screen space (Alicia notes her screenshot size has doubled), but the extra real estate serves a purpose. Let’s explore what’s changed and why it matters to your practice.

Smarter Customer Insights Without Switching Screens

One of the biggest improvements is accessing client information without leaving your invoice. Next to the customer’s name, you’ll find a small Intuit Assist icon that provides valuable context with one click.

“It actually does have contextual information about the customer that’s there,” explains Dan. “So it’s nice to have it all in one place. And you don’t have to navigate and look in the customer section to see those types of insights.”

This panel shows:

Payment history by method (credit card, bank transfer, PayPal)
Number of open invoices
Number of overdue invoices
Customer relationship length

Alicia appreciates this feature: “I’m kind of used to having to have multiple tabs open where one I’m doing my invoicing and in one I’ve got the customers open… now I can see my customer information without having to navigate away.”

You can also edit customer information directly from the invoice screen by clicking the “edit customer” link. This allows you to update addresses and contact details without interrupting your workflow, a significant time saver.

Better Communication Tools for You and Your Clients

The modern invoice includes four different communication fields, each serving a specific purpose:

Customer payment options: Instructions about how to pay that appear on the invoice
Note to customer: General communication that appears on the invoice
Internal customer notes (hidden): Team communications that clients can’t see
Memo on statement: Text that appears only on customer statements

The internal notes feature is especially valuable for team collaboration. As Alicia explains, you can use it to record important details like “Customer got a PITA discount”—information your team needs but clients shouldn’t see.

Sales Tax Management Made Easier

According to Alicia, address management in the modern invoice is “mission critical” for those working in states with complex sales tax rules.

The system now clearly shows whether sales tax is calculated based on your business location or the customer’s location. By toggling the “add shipping info” link, you control which address determines the tax calculation:

When shipping information is collapsed, tax is calculated based on your business location
When shipping information is shown, tax is calculated based on the ship-to-address

“For those of you who are having trouble with sales tax calculating incorrectly, this is your game changer,” emphasizes Alicia. “Pay attention to the bill to, the ship to, and the ship from boxes and make sure that you have the right addresses in the right places.”

Expanded Payment Options and Strategic Fee Management

The modern invoice significantly expands payment options through QuickBooks Payments. Beyond standard credit cards, your clients can now use:

Apple Pay
Bank transfers (ACH/EFT)
PayPal
Venmo

What makes this integration powerful is that all these payment methods work through QuickBooks Payments—no separate PayPal or Venmo business accounts are required. This means all payments are processed with the same automatic recording, fee allocation, and deposit reconciliation that QuickBooks Payments provides.

“All of the automagic things that QuickBooks payments does—like recording the payments, recording the deposits, allocating the fees, making the deposit reconciled in the bank feed—all of those things are done for you,” explains Dan.

Perhaps most interesting is the new option to have customers pay the processing fees. By turning off all standard payment methods, you’ll see a new option labeled “your customer pays the fees.” When selected, this gives clients the option to pay via ACH while covering the associated costs.

Alicia shared a practical application: When clients’ credit cards expired, she sent invoices with the “customer pays fees” option enabled. In her email, she wrote: “You’re welcome to pay this yourself. If you want to save on the fees, give us a call with your new payment information so that we can update our systems. And then you won’t have to pay the fees; we’ll pay the fees.”

The result? Three phone calls with updated card information—problem solved.

Recurring Payments Without PCI Compliance Concerns

The modern invoice also introduces an improved approach to recurring payments that addresses security concerns. Instead of storing client credit card information (which creates potential PCI compliance issues), the system now allows clients to approve automatic future payments while maintaining control of their payment details.

“This is really replacing scheduled sales receipts,” explains Alicia. “Now you can make a recurring invoice, and the customer approves it to auto pay it in the future. So it’s kind of the best of both worlds.”

Dan adds that the system “automatically checks the auto-pay functionality so that they don’t have to find it. You don’t have to tell them where it is. It’s just preselecting that option.”

Customizing Your Invoice Experience

Nearly all customization options for the modern invoice are found in the Manage panel and can be accessed via the gear icon at the top right. These settings allow you to control what appears on your invoice without changing default settings for all clients.

Through this panel, you can:

Turn specific fields on or off (shipping information, service date, SKU column)
Manage custom fields
Configure payment options and tips functionality
Add discounts (percentage or dollar amount)
Control whether discounts apply before or after sales tax
Set up recurring invoices or payments
Access client reports directly from the invoice

For those who want to see exactly what clients experience, three view options are available after selecting the “modern” template:

Email View: How the email appears in a client’s inbox
Payer View: What clients see in the payment portal
PDF View: How the invoice looks when printed

“Rather than sending a CC or BCC to yourself to see what the customer sees, it’s nice to see it all in one place,” notes Dan.

Current Limitations and Future Development

While the modern invoice offers many improvements, some limitations exist in the current version:

Design customization is limited to colors and fonts when using the modern template. To access all the modern features, you must use the standard modern layout rather than your custom templates. Intuit has indicated enhanced customization is on their roadmap.

Reminders cannot be set on an invoice-by-invoice basis yet. Both hosts expressed a strong desire for this feature: “Intuit, if you’re listening, we desperately want reminders to be set up on an invoice by invoice basis. Desperately.”

The Intuit Assist autofill feature is still in beta. This feature aims to create invoices automatically from files, images, or text, but accuracy varies, especially with line items. The hosts encourage users to try it despite limitations, as user feedback will help improve it.

Why These Changes Matter for Your Practice

These invoice improvements represent more than just interface changes—they’re part of a complete rewrite of QuickBooks Online’s underlying code.

“One of the things that’s really happening is they’re actually rewriting the entire code base underpinning all of QuickBooks Online because it originally started back almost 20 years ago,” explains Alicia. “The code that it was written on 20 years ago was modern back then. But things have changed on the programming side.”

This approach sometimes requires what Dan calls a “take a step back to move forward type of thing,” where short-term limitations enable long-term improvements. “They’re basically recreating the foundation so that new and cool features can actually take place,” he notes.

For accounting professionals, these changes deliver practical benefits:

Time savings from not switching between screens
Improved client experience with flexible payment options
Better security compliance through modern payment handling
Real-time visibility into invoice status, from creation through payment
Strategic tools for managing fees and client relationships

Most importantly, Intuit is actively seeking feedback. A prominent feedback link appears on each invoice, providing a direct channel to the development team.

“If you have a good idea, please go up to feedback and flood that feedback and let them know what you want to change,” encourages Alicia. “They are actively listening.”

Dan confirms: “Now they can act on the flood of feedback that has been coming in. They’ve been taking care of some of the more mission-critical issues. Now they’ll be able to further enhance this experience.”

Next Steps: Making the Most of Modern Invoices

To maximize the benefits of these changes, consider these practical steps:

Explore the Manage panel thoroughly to understand all available customization options
Try the Intuit Assist features even while in beta
Review your sales tax settings in light of the new address field controls
Use the view options to understand your clients’ experience
Provide feedback to help shape future development

By mastering these new capabilities, you can transform what might initially seem like disruptive changes into meaningful practice advantages—delivering better client experiences while saving valuable time.

For a comprehensive demonstration of all these features, listen to Episode 80 of The Unofficial QuickBooks Accountants Podcast, “Everything You Need to Know About Modern Invoices.”

AI’s Game-Changing Impact on B2B Revenue Management

Earmark Team · March 11, 2025 ·

Technology has made many tasks like paying employees, managing bills, and handling expenses much more manageable in business finance. However, tracking revenue—essential for any company’s success—has mostly relied on old tools like spreadsheets and emails, leading to a lot of manual work and confusion. Fortunately, that situation is starting to improve.

In a recent Earmark Expo webinar, Blake Oliver, CPA, and David Leary explored how Tabs, a new AI-powered platform, transforms B2B revenue management by bringing invoicing, usage-based billing, and revenue recognition under one roof.

Why Revenue Management Has Lagged Behind

Even though significant improvements have been made in automating accounts payable and payroll processes, managing revenue still requires a lot of manual effort. David pointed out that the accounting department is responsible for handling payroll and paying bills, but revenue management often gets divided among different teams, including marketing, sales, and finance.

According to Ali Hussain, CEO and founder of Tabs, “Revenue is just a very complex discipline from a data standpoint.” Each contract can carry unique terms, amendments, and usage triggers. Until recently, this complexity kept automation efforts at bay.

In 2023, artificial intelligence advanced enough to tackle complicated business contracts, even those tucked away in emails or side agreements. Taking a cue from how today’s accounting and payroll systems have combined various tools into a single platform, Tabs offers an all-in-one solution for managing the entire revenue process. This means businesses no longer have to search through multiple spreadsheets, contract systems, and scattered documents to close the books.

From Contract Ingestion to Collections and Revenue reporting: A Look Inside Tabs

During the demo, Caitlin Lu, Head of Partnerships, showcased how Tabs centralizes every step of the revenue cycle:

Contract Ingestion

Forward a contract (formal MSA, email agreement, renewal, side letter—English language only) to Tabs’ secure email.
Tabs automatically scans the document, extracting billing terms, pricing details, renewal dates, payment schedules, and usage allowances.

Billing and Invoicing

Tabs auto-generates invoices based on the extracted terms.
Users can edit or confirm billing frequency or payment terms before sending.
Integration with QuickBooks or NetSuite is bidirectional: once sent, the invoice syncs to the general ledger, and any subsequent changes in QuickBooks or NetSuite flow back into Tabs.

Usage-Based Billing

For companies charging by hourly rates, seat licenses, tiered usage, or any variable consumption model, Tabs removes the need for manual calculations.
To share usage data, simply upload CSV files or integrate a BI tool. Tabs then apply the contract’s negotiated rates.

Revenue Recognition

Tabs automatically computes deferred, unbilled, and recognized revenue aligned with GAAP requirements.
It generates corresponding journal entries for each period, which are ready for import into the GL.
For audits, every revenue schedule is tied to the original contract, creating a clear paper trail.

Collections and Renewals

A live collections dashboard highlights overdue invoices, pending invoices, and upcoming renewals.
Automated reminders can be sent to customers.
Renewal information, including price escalators or extended terms, surfaces well ahead of contract end dates, mitigating revenue leakage.

Customer Payment Portal

Each invoice includes a secure payment link where customers can pay by ACH, credit card, wire, or check.
ACH, checks, and wires incur no additional fees in Tabs; credit card fees depend on the Stripe terms negotiated by the merchant.
Tabs applies payments and reconciles amounts automatically, marking invoices paid in both Tabs and your accounting system.

Implementation and Pricing

Unlike traditional billing systems that can take six to nine months to set up, Tabs is designed to help finance teams get started in just one billing cycle. There’s no need for costly technical projects; many companies can simply export their usage data from their product team using a spreadsheet. Tabs takes care of everything else from there.

Tabs offers a straightforward pricing plan with a fixed fee, meaning there are no extra charges based on how much you use the service. They collaborate with Stripe to handle credit card payments, but you can choose any payment processor.

Transforming the Role of Finance

The Tabs approach offers a refreshing solution for accountants who often find themselves overwhelmed by complicated revenue models, spreadsheets, or the hassle of tracking down missing contract updates. Instead of getting bogged down with tedious data entry and reconciliations, finance teams can focus on more valuable tasks. This includes providing insights on pricing strategies or analyzing how profitable different customers are. Plus, the system helps ensure everything is ready for audits and automatically handles journal entries, which helps to minimize mistakes and keeps financial records tidy.

“This is your chance to do more with less,” says Ali. By centralizing contracts, usage, billing, and revenue recognition, Tabs enables finance professionals to be proactive rather than reactive—whether at a large firm managing hundreds of contracts or at a growing SaaS startup looking to modernize its revenue processes.

Ready to Learn More?

If you’re ready to see how Tabs can help, or if you’re an accountant interested in rolling this out to clients, visit tabs.inc and explore the “Partners” section or schedule a demo.

You can also earn free CPE by watching the webinar’s replay and completing a short quiz in the Earmark app. With AI now able to tackle the messy reality of B2B revenue, it’s time to shed that manual work and step into the future of revenue management.

Proactive Cash Flow Solutions for Small Business Clients

Earmark Team · March 7, 2025 ·

Millions of small business owners start every morning the same way—logging into their bank account to see their balance. While 95% of business owners perform this daily check, a recent Cash Flow Compass report from Relay reveals a startling insight: 91% of small businesses face ongoing cash flow challenges. Despite their vigilance, most owners still lack the structures and systems to plan effectively, leaving them vulnerable to late payments, insufficient reserves, and high stress.

Based on a recent webinar featuring Blake Oliver, CPA, and Relay’s own Deanna Zubrickas, this article explores how accountants and financial advisors can move beyond balance-check advising and guide clients toward proactive, data-driven cash flow strategies. By leveraging multiple bank accounts, automated transfers, and regular check-ins, accountants can deliver both financial clarity and much-needed peace of mind to overworked owners.

Let’s dive into some of the key points from the webinar and, more importantly, what you can learn from them.

1. The Universal Challenge: 91% Face Cash Flow Struggles

In Relay’s Cash Flow Compass survey of over 750 small businesses:

91% of respondents reported dealing with cash flow issues.
Common causes include rising labor costs, seasonal fluctuations, and late client payments.

With so many business owners feeling the pinch, accountants have an opportunity to provide high-value advisory services that go far beyond routine compliance work.

2. Overconfidence vs. Reality: The 42% Confidence Gap

One surprising finding is that many owners believe they have a solid handle on their finances—but the numbers tell a different story. On average, business owners are 42% more confident in their cash flow management than is justified by their actual data. This gap creates real risks.

Blake remarks, “Coming off of a busy season, business owners see a big bank balance and feel invincible. The challenge is helping them realize that money might need to stretch through slower months or seasonal dips.”

This mismatch between perception and reality underscores the need for deliberate systems that track not just daily balances but future obligations.

3. Missing Payments, Personal Stress, and Burnout

Cash flow struggles affect both the business and its people:

31% of respondents missed or were late on major payments, including rent and payroll.
71% reported experiencing significant stress or anxiety due to cash flow woes.
62% said they suffered negative outcomes like delayed projects or losing clients.

For many, delayed payments jeopardize vital relationships with landlords, suppliers, and staff. Even worse, it erodes personal well-being. As Blake noted in the webinar, accountants are uniquely positioned to help clients break this cycle, offering regular check-ins and proactive planning that reduce the risk of crisis—and the accompanying burnout.

4. The Single-Account Trap: Why 24% Use Multiple Accounts

Despite recognizing their vulnerabilities, most small businesses still rely on one operating account for everything. According to the survey:

95% check their balance daily,
but only 24% maintain multiple accounts to track and separate funds.

Without additional accounts, it’s easy to mix up funds earmarked for payroll, taxes, or profit distributions. That single lump-sum balance can create a false sense of security. This is where modern tools and advisory play a crucial role.

5. Structuring for Success: Multiple Accounts and Automated Transfers

Relay, the official banking partner of Profit First, offers a clear solution:

Create Multiple Accounts: At a minimum, split finances into an operating account, payroll account, and savings or tax account.
Automate Transfers: Relay lets you set rules so each payment received is split into designated buckets—e.g., 10% for taxes, 15% for profit, and the rest for operations.
Project-Based Accounts: For agencies or firms handling multiple projects, separate accounts for each project can clarify available budgets without waiting for monthly reconciliations.
Receipt Capture & Sync: Relay’s new receipt capture feature (in beta) automatically syncs to QuickBooks or Xero, streamlining bookkeeping and reducing administrative overhead.

By making these processes nearly automatic, business owners start building reserves without having to remember monthly or quarterly transfers. Even small percentage allocations can add up, bolstering that emergency fund. Meanwhile, accountants can monitor activity in real-time rather than sifting through backlogged statements.

6. Advisory in Action: Weekly 15-Minute Check-Ins

A critical element of success is consistent communication. Rather than waiting for quarterly reviews—or worse, an emergency—weekly 15-minute video calls can transform client relationships:

Forecast: Quickly update spreadsheets or dashboards, listing upcoming bills, expected deposits, and payroll cycles.
Allocate: Ensure auto-transfers are working as intended and address any shortfalls immediately.
Plan: Discuss hiring decisions or new projects that might affect cash flow in coming weeks.

This shift from reactive to proactive engagement positions accountants as strategic partners. As clients see their cash flow stabilize, trust builds, and deeper advisory conversations become routine.

7. The Bigger Picture: Reducing Stress and Enabling Growth

When small businesses move beyond bank-balance management, they gain more than just better books—they reduce anxiety, avoid late fees, and seize growth opportunities. With 43% of surveyed businesses having less than a month of reserves, even moderate savings can soften sudden revenue dips or unexpected expenses.

Most importantly, owners get back to focusing on what they do best—running and growing their companies—rather than obsessing over daily balances. It’s a win-win for both the client and the accountant.

Conclusion: Empower Your Clients to Thrive

For many entrepreneurs, the line between personal and business stress is razor-thin. By advocating structured cash flow management—multiple accounts, automated transfers, and regular advisory sessions—accountants can deliver peace of mind while ensuring clients have the resources to grow sustainably.

Ready to see these strategies in action? Watch the full webinar for in-depth conversations, real-world examples, and detailed demonstrations on how to implement a modern cash flow system. Equip your clients to move beyond the daily balance check and lay the groundwork for lasting success.