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Collective by DBA: Revolutionizing Operational Support for CPA Firms

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In episode 14 of the “Who’s Really the Boss” podcast, hosts Rachel and Marcus Dillon reveal Collective by DBA (previously DBA Firm), a revolutionary initiative born from their experience as successful CPA firm owners. The Dillons have navigated the choppy waters of firm management and emerged with a blueprint for success that they’re now sharing with the accounting community.

Collective by DBA isn’t your typical consulting service. It’s a comprehensive support system designed specifically for CPA firm owners looking to overcome common hurdles and achieve sustainable growth. Their approach is simple yet powerful: By providing tailored resources, personalized implementation plans, and a supportive community, Collective by DBA empowers accounting firm leaders to transform their practices and reach new heights of success.

Operational support is at the heart of Collective by DBA’s approach—an often overlooked but crucial aspect of running a successful CPA firm. As Marcus emphasizes, “[Collective by DBA] is operational support for CPA firms. And I just I come back to operations—that’s the keyword.” This focus on operations sets Collective by DBA apart. While many consultants focus on technical accounting skills or marketing strategies, Collective by DBA recognizes that how a firm operates day-to-day is often the difference between struggling and thriving.

Collective by DBA targets firms with revenues between $500,000 and $5 million and 3 to 30 employees. As Marcus explains, “That’s really the core. That’s who we feel called to serve because that’s who we can make the greatest impact on.”

The Three Pillars of DBA Firm’s Support Model

Collective by DBA’s approach is built on three fundamental pillars: structure, strategy, and systems. 

  • Structure forms the foundation, with concepts like their “Team of Three” model providing a framework for organizing staff roles efficiently.
  • Strategy focuses on making smart decisions about the firm’s direction, such as transitioning from relying on seasonal tax work to more stable, recurring revenue streams.
  • Systems emphasizes leveraging technology and processes to streamline operations and improve efficiency.

Key Offerings

Collective by DBA offers a range of resources and services to support CPA firms:

  • Firm resources. Firms that join the Collective Community can download guides, templates, and case studies.
  • Webinars. Regular online sessions are eligible for CPE that cover topics ranging from team management to technology implementation.
  • GRIP (Goal Ready Implementation Plan). This intensive service involves a deep dive into a firm’s current state, goals, and challenges, resulting in a tailored 24-month plan for growth and transformation.
  • Advisors. Collective by DBA team members work closely with firms to implement changes, ensuring lasting positive impact through one-on-one advisory and group facilitation.
  • Community events. Collective by DBA hosts gatherings like their recent Get Together in The Woodlands, Texas, creating opportunities for accounting professionals to learn from each other and share experiences in person.

The Get Together Event

In April 2024, Collective by DBA hosted its first major in-person event, bringing together about 60 firm leaders nationwide. The two-day gathering included presentations from the Dillon Business Advisors and Collective by DBA, peer-led discussions, and the introduction of their GRIP service. Marcus notes, “Unlike many other conferences and events members might go to,  the other attendees are actually leaders in firms. We’re not stacking events with influencers, sponsors, and vendors.”

The Future of Collective by DBA

As Collective by DBA continues to grow, it’s expanding its offerings while staying true to its mission of providing operational support to CPA firms. Recent developments include gaining approval to issue CPE credits and plans to make its GRIP service more widely available.

Rachel summarizes their approach: “We are definitely not a technology company. What we are is very invested in building relationships and positively impacting and transforming the accounting industry. Building relationships and sharing what we’ve learned has been really rewarding and something that gets me really excited.”

For CPA firm owners looking to transform their practice, Collective by DBA is helping to create more efficient, profitable, and sustainable accounting practices by addressing the often-overlooked operational aspects of running a firm. To learn more about their resources and services, visit Collective by DBA and listen to the full episode of the “Who’s Really the Boss” podcast.

Rachel and Marcus Dillon, CPA, own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA, supports and guides accounting firm owners and leaders with firm resources, education, and operational strategy through community, groups, and one-on-one advisory.

Reimagining Professional Gatherings for Meaningful Learning

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Conference season can be overwhelming for CPA firm owners and accounting professionals. Large industry events often lead to information overload and superficial networking. But what if there was a better way to learn, connect, and grow professionally?

In a recent episode of the “Who’s Really the Boss” podcast, hosts Rachel and Marcus Dillon tackle this challenge head-on. As CPA firm owners and industry consultants, they’ve pioneered an innovative solution: the “Get Together” event model.

The “Get Together” Approach

The Dillons’ “Get Together” events are intentionally small and focused, with only about 50 to 70 people. This intimate setting fosters a collaborative atmosphere that combats the anonymity often experienced at larger events.

Key features of the Get Together include:

  • Round table setup. This encourages interactive discussions and peer-to-peer learning.
  • Advanced study sessions. These allow for deeper exploration of topics in smaller groups.
  • Practical, actionable content. The focus is on real-world application rather than theoretical knowledge.

Rachel explains, “We named it Get Together because it really was a gathering of friends of accounting industry peers who have the same goals and a desire to make their firms a better place to work.” This approach directly addresses the common frustrations with traditional conferences: information overload, superficial networking, and lack of actionable takeaways.

Target Audience and Exclusivity

The Get Together events are designed for firm owners and leaders from businesses with revenue between $500,000 to $5 million and team sizes of 3 to 30. This specificity allows for discussions and content directly relevant to all attendees.

Rachel emphasizes, “What that means is there’s a limited number of seats, and we want to make sure that we are able to be transparent, and we want to make sure that people who appreciate that are in the room.” This careful curation ensures everyone present is there for the right reasons: to learn, share, and grow.

Focus on Strategy, Structure, and Systems

The events cover three main pillars: strategy, structure, and systems (including software). Marcus explains, “Strategy could be as simple as mission, vision, and values, which a lot of people just write off as fluff in their business. But if they don’t have a clear mission, vision, or value statement, it’s so hard to help them steer the ship.”

Regarding structure, the Dillons discuss their “team of three” model, where each client has a dedicated Client Service Manager (CSM), Controller, and CFO. During the structure discussions, attendees dig into roles and responsibilities, workloads, and compensation strategies. 

They focus on tools for systems and software that create efficiencies and improve client and team member experiences.

Marcus notes, “We have some very important people that we are connected to in the software and systems world, and that’s who we partner with. So our events are not full of people trying to sell you stuff. If they’re just there to sell you something, they don’t need to be in the room.”

Maximizing Learning and Networking

To get the most out of any professional event, the Dillons suggest several strategies:

  • Set clear goals and intentions before attending
  • Check the agenda in advance and select relevant sessions
  • Actively network and share challenges/successes with other attendees
  • Take time to reflect and process information during and after the event
  • Prioritize next steps and actionable items post-event

Rachel stresses the importance of actionable outcomes: “If there are no actionable steps out of a conference, I don’t know that I can say it was a success. That next step might just be ‘call this person’ or ‘reach out to this company.’ But if there’s literally not a next step, I don’t know that it was worth the time and monetary investment.”

Maximize Your ROI on Professional Development

The Get Together model is a welcomed alternative to conference fatigue and information overload. By focusing on a specific audience, emphasizing practical outcomes, and providing strategies for effective participation, these events deliver tangible value to every attendee.

As you consider your next accounting conference or professional development opportunity, ask yourself: Are you seeking a flood of information or actionable insights? Are you looking for a room full of strangers or a community of like-minded professionals?

Less can be more in a world of constant noise and information overload. The Get Together model shows that reimagining how we learn, connect, and grow as accounting professionals can lead to more meaningful and impactful experiences. Learn more in the most recent episode of the “Who’s Really the Boss” podcast.

Rachel and Marcus Dillon, CPA, own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA, supports and guides accounting firm owners and leaders with firm resources, education, and operational strategy through community, groups, and one-on-one advisory.

QuickBooks Online Tests Credit Karma Financing: What Accountants Need to Know

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In a recent Unofficial QuickBooks Accountants Podcast episode, hosts Hector Garcia and Alicia Katz Pollock discussed a significant new development in QuickBooks Online: the integration of Credit Karma financing options. This feature allows QuickBooks users to offer personal loan options to their customers directly through estimates, marking a potential shift in how small business tools operate.

This Feature Is In Testing

Note that this new feature has not yet been released generally. It is currently in beta testing and may not be available to all users. A ProAdvisor discovered it in her client’s file when the client sent an estimate to a customer. In addition to the expected messaging, the customer was invited to take out a loan to pay the invoice.

How It Works

When the QuickBooks user sent an estimate to a customer, they noticed financing offers powered by Credit Karma. In the fine print, the interest rates varied widely, from 8.49% to 35.99% APR with autopay. The loans are provided through a company called Upgrade, potentially allowing Intuit to monetize its $7 billion acquisition of Credit Karma. 

Importantly, this feature will be optional for QuickBooks users. It can be toggled on or off in the account settings, giving businesses control over whether to offer financing to their customers. When enabled, the financing option appears alongside the estimated details when customers view them. 

Potential Benefits and Concerns

This integration could help businesses convert more estimates into paid work by offering customers flexible payment options. As Alicia noted, “If you are somebody who gives high estimates and you know you struggle to have all of your bids accepted, this may be a way of actually getting them paid where you’re getting paid in full right up front.”

However, the hosts also raised some potential concerns:

  1. Privacy: There are questions about how QuickBooks customers’ information might be used to market these loans.
  2. High interest rates: The upper end of the APR range (35.99%) raised eyebrows among the hosts.
  3. Ethical considerations: Accountants may need to consider the implications of facilitating high-interest loans to their clients’ customers.
  4. Customer relationships: Businesses must decide whether offering financing aligns with their customer service approach.

Intuit’s Strategy

This integration is part of Intuit’s broader strategy to leverage its Credit Karma acquisition. By offering financing options within QuickBooks, Intuit aims to create a more comprehensive financial ecosystem for small businesses and their customers.

However, it’s important to note that Intuit does not directly provide the loans. Instead, they likely receive a commission for approved loans, similar to Credit Karma’s existing business model.

What Accountants Should Do

If you or your clients use QuickBooks Online, it’s essential to be aware of this new feature:

  1. Check the settings: Look for the “customer financing” toggle in the Discounts and Fees section of the new invoice experience.
  2. Discuss with clients: If the feature is available, discuss whether offering financing aligns with their business goals and customer relationships.
  3. Understand the terms: Familiarize yourself with the financing options and terms to advise clients appropriately.
  4. Monitor developments: As this feature is still being tested, watch for any changes or broader rollout.

The integration of Credit Karma financing into QuickBooks Online represents a significant shift in accounting software capabilities. While it offers potential benefits for businesses looking to close more sales, it also raises essential considerations about privacy, ethics, and customer relationships. As this feature develops, accountants will be crucial in helping clients navigate this new landscape of embedded financial services. Listen to the full  Unofficial QuickBooks Accountants Podcast episode for the latest information.

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!

Transforming Your CPA Firm: A Strategic Approach to Client Acquisition

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A recent episode of the “Who’s Really the Boss” podcast offers a roadmap for strategic client acquisition that could revolutionize your accounting practice. Hosts Rachel and Marcus Dillon, drawing from their experience running DBA Accounting, posit a compelling thesis: CPA firm owners can turbo-charge business growth by implementing a comprehensive client acquisition strategy that encompasses ideal client profiling, service package development, and streamlined inquiry management.

Identifying Your Ideal Client: The Foundation of Strategic Growth

At the heart of the Dillons’ approach is a laser focus on identifying the ideal client. This isn’t about targeting any business owner who needs accounting services; it’s about pinpointing the specific type of client who will benefit most from your expertise and align with your firm’s values and goals.

Rachel and Marcus share their experience: “Our ideal client is a doctor owner. They own their own practice, and their annual revenues are anywhere from  $1.5 to $3 million. They’ve got a team of 20 employees or less, and typically it’s a family practice.”

This level of specificity didn’t come out of thin air. The Dillons arrived at this profile by analyzing their existing client base, identifying patterns in the types of clients they served best, and recognizing opportunities where they could add the most value.

By focusing on a specific ideal client profile, you’re not just narrowing your focus—you’re setting the stage for more targeted marketing, more efficient operations, and, ultimately, more satisfying client relationships.

Streamlining Inquiry Management: Converting Prospects into Ideal Clients

The Dillons emphasize the importance of a dedicated person handling new client inquiries. Rachel manages this process for their firm, ensuring consistent messaging and efficient screening of potential clients. 

“The thing that has helped the most with that is knowing who our ideal client is, and knowing who our ideal client isn’t, so that within just a few minutes after talking, I can decide whether or not to continue asking questions to see if they are a good fit?” Rachel explains.

Their system includes:

  • Quick response time (typically within 24 hours)
  • Use of technology (HubSpot as their CRM and website platform)
  • Automated calendar booking for prospects

Marcus adds, “Our website has to be just as good a front door as a brick-and-mortar office could be. So we’ve invested in our website, and many people ask us questions about our website.”

Their website includes clear messaging about their services, video content explaining their ideal client profile and onboarding process, and self-qualification tools. This helps prospects determine if the firm is a good fit before they even make direct contact, saving time for both the prospect and the firm.

Leveraging Technology for Marketing and Communication

The Dillons use a variety of tools to streamline their marketing and communication efforts:

  • HubSpot: Serves as their CRM, website platform, social media scheduler and email marketing tool
  • Ignition: Used for sending engagement letters and receiving payments

Rachel emphasizes that while these specific tools work for their firm, the key is to find solutions that provide automation, analytics, and a seamless experience for clients and prospects.

Key Takeaways for CPA Firms

To transform your CPA firm’s client acquisition strategy:

  1. Get specific when defining your ideal client 
  2. Designate a dedicated person to handle new client inquiries
  3. Invest in your website as a key tool for attracting and qualifying prospects
  4. Leverage technology to automate and streamline your marketing and communication efforts

By implementing these strategies, you can create a more focused, efficient, and profitable accounting practice that attracts the right clients and provides more satisfying relationships for you and your clients. Get all the details by listening to the full episode of the “Who’s Really the Boss” podcast.

Rachel and Marcus Dillon, CPA own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA, is a community for accounting firms to get operational support in strategy, structure, and systems.

Embracing the Future of Accounting with Sage Intacct

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“If I gave this same presentation three months from now, it’s probably going to be a different discussion because that’s how fast everything’s changing right now in this industry.” That’s according to Douglas Lewis, a co-host of the new Unofficial Sage Intacct Podcast, which was created to help accountants stay up-to-date on the latest in a rapidly changing technology landscape.

Co-hosts Doug Lewis, Emily Madere, and Matt Lescault will combine their expertise in M&A consulting, Sage Intacct implementation, and global accounting practices to provide a unique perspective on the accounting profession’s transformation. As an unofficial podcast, they aim to offer balanced information about Sage products, including discussing competitors and potential shortcomings.

In Episode 1, Doug, Emily, and Matt discuss how the evolution of accounting technology is transforming the role of accounting professionals from number crunchers to strategic advisors, requiring a shift in skills and mindset.

The Rapid Evolution of Accounting Technology

The accounting industry is experiencing rapid change driven by technological advancements. This breakneck evolution is affecting every aspect of accounting:

  1. Mergers and Acquisitions: The landscape of firm valuations and appealing features for acquisition is constantly changing. One of the most requested items nowadays is a thriving CAS practice. This demonstrates the increasing importance of technology-driven services for firm value, with Sage Intacct often at the core of these valuable practices.
  2. Technological Advancements: New tools and software continually emerge, offering enhanced capabilities and efficiencies. These advancements include cloud-based systems, AI-driven analytics, and automated data entry, all of which are reshaping how accountants work.
  3. Operational Shifts: The way accounting firms and departments operate is being reshaped by these new technologies. Matt Lescault mentions that his firm has been “completely remote” since 2010, a trend that has accelerated across the industry. This shift to remote work is enabled by cloud-based tools like Sage Intacct, which allow for real-time collaboration and data access from anywhere.

This rapid change presents both a challenge and an opportunity for accounting professionals. Emily Madere, who works in Sage Intacct, stresses that “accounting is now technology-focused.” This shift requires professionals to not only understand financial principles but also to be adept at leveraging advanced software tools. 

This constant evolution pushes accountants beyond traditional number-crunching roles and into more strategic positions. Today’s accountants are expected to provide data-driven insights, predictive analytics, and strategic financial advice. Tools like Sage Intacct are enabling this transition, automating routine tasks and providing powerful analytics capabilities that allow accountants to focus on higher-value activities.

As the podcast hosts emphasize, embracing these technological changes is not just about staying competitive—it’s about redefining the role of the accountant in the modern business landscape.

Sage Intacct: Driving the Future of Accounting

At the heart of this technological revolution in accounting is Sage Intacct, Sage’s flagship product that’s reshaping the industry landscape. Matt Lescault, drawing from his global experience as president and CEO of Lescault & Walderman, a Sage partner in both the US and Africa/Middle East, offers a broader perspective: “There will be a major focus on the Intacct product because it is what Sage is launching globally.

Sage’s significant investment in Intacct reflects the software’s potential to transform accounting practices on a global scale. It offers advanced capabilities beyond traditional accounting software, enabling professionals to automate routine tasks, gain deeper insights from financial data, and make more informed strategic decisions.

With her expertise in Sage Intacct, Emily Madere highlights its transformative potential: “Sage has a lot of great, awesome products and functionalities that can help a lot of people.” However, many companies are not fully leveraging Sage Intacct’s capabilities. Madere observes that there’s “an opportunity for firms, businesses, entrepreneurs to get so much more out of their system.” This underutilization often manifests in several ways:

  1. Limited use of automation features, with firms still relying on manual data entry for tasks that could be streamlined.
  2. Underuse of advanced reporting and analytics tools, missing out on deeper financial insights.
  3. Failure to integrate Sage Intacct with other business systems prevents a holistic view of operations.
  4. Neglecting real-time collaboration features that are particularly valuable in today’s remote work environment.

By fully embracing these functionalities, Madere suggests, companies can dramatically improve efficiency, gain more actionable insights from their financial data, and ultimately provide more strategic value to their clients or organizations. This shift from basic bookkeeping to high-level financial strategy is at the core of the evolving role of accounting professionals, which the podcast aims to explore.

Drawing from his extensive M&A consulting experience, Doug Lewis highlights a significant trend in the accounting industry: “In all of the M&A work that I do for accounting firms, one of the most requested items is a thriving CAS (Client Advisory Services) practice. And most firms that we see who have these thriving practices are utilizing Sage Intacct to do so and to build that out.” 

Mastery of advanced tools like Sage Intacct not only enhances operational efficiency but can directly contribute to a firm’s market value and long-term success. Proficiency in Sage Intacct is becoming a key differentiator in the M&A landscape, potentially increasing a firm’s attractiveness to potential buyers or investors.

The New Accounting Professional: From Number Cruncher to Strategic Advisor

As accounting technology evolves, so does the accounting professional’s role. The days of simply balancing books and preparing financial statements are giving way to a new era where accountants are expected to be strategic advisors.

Sage Intacct is at the forefront of enabling this shift. Automating routine tasks and providing powerful analytical tools frees accountants to focus on higher-value activities. This requires a new set of skills:

  1. Data analysis: Interpreting complex financial data and deriving actionable insights
  2. Strategic thinking: Using financial information to guide business decisions
  3. Technology proficiency: Mastering advanced tools like Sage Intacct

Emily Madere emphasizes the importance of staying current: “After you listen to an episode, you are going to have a more robust knowledge of the Sage products and how to use them and how to talk to them with your colleagues.”

This evolution demands a proactive mindset. Accountants must actively seek out opportunities to learn and adapt to new technologies. Matt Lescault, with his global accounting experience, notes the rapid change he’s observed: “I started my company in late 2006, and it’s just been an amazingly fast-paced environment of change from a technology approach and focus.”

The Unofficial Sage Intacct Podcast aims to support this journey, providing insights and guidance to help professionals navigate this changing landscape. As Madere puts it, “This is a great opportunity for me to share what I know about Sage and hopefully help people in their day-to-day lives.”

As the podcast hosts emphasize throughout the episode, the accounting profession is transforming profoundly. At the forefront of this revolution is Sage Intacct, offering powerful tools that enable accountants to move beyond traditional number-crunching and into strategic advisory roles. 

This shift represents not just a change in tools, but a fundamental reimagining of the accountant’s role in modern business. As accountants become strategic advisors, they can drive more informed decision-making, contribute to business growth, and even influence economic trends.

Don’t get left behind. Join the conversation with the Unofficial Sage Intacct Podcast and equip yourself with the knowledge and insights needed to thrive in the new era of accounting. Your journey from number cruncher to strategic advisor starts here.