July 15, 2020: Our next “Bookkeeping Fundamentals” course is set to begin on Tuesday, September 22nd. Seating is limited so reserve your spot now! Visit our “How We Help” page for more information: https://trifoldbka.ca/how-we-help/
June 26, 2020: We are proud to announce our TBA partner Shelley Rudiger has been nominated for two Sage Circle of Excellence Accounting Awards for 2020: ‘Trainer of the Year’ and ‘Bookkeeper Partner of the Year’. We’d like to congratulate Shelley on these nominations. She’s very deserving and is a winner to us everyday!
June 10, 2020: Sage Forum session – another great presentation by Dianne on “What’s New in Sage 50 software with the latest Release 2020.2”. Click here to view the session: https://youtu.be/Zm9DtO39i7Y
May 29, 2020: The three TBA partners ZOOM’d with Jennifer Bauldic and the members of her group “JET FUEL for Accounting Professionals” to share our story of how Trifold Bookkeeper Advisors came to be, and the “Power of 3” behind it. We are grateful to Jennifer for her amazing facilitation skills, allowing us to explain our intentions and our vision of what we are striving to provide to the bookkeeping community. If you missed it and/or would like to see it again, we are able to share it with you for a limited time. To access the recording, click here: https://bit.ly/0529Trifold
To join or learn more about JET FUEL for Accounting, click here: https://bit.ly/JetFuel4AP
March 15, 2020: With the onset of COVID-19, following is the blog Dianne wrote about how the bookkeeping community can help:
What Can Our Bookkeeping Community do to Help? Let Them in on Our Secrets.
In the coming days, a lot of small businesses – our clients – will be closing their brick and mortar doors to customers, vendors and employees to work remotely – maybe for the first time. Their work-from-home success will be a huge contributor to their business survival. As a community, bookkeepers have adopted to working remotely, and have been a work-from-home community for some time. We have experience with remote staff members, working in the Cloud, and we lead the way in delivering our services efficiently. We have already learned to re-think our old ways of doing business. Our bookkeeping community has innovated new services, new methods and new tools. Let’s get pro-active and creative to help our small business clients learn how to handle a disruption to their business model.
Individualization is Key
While a lot of our tools and workflows will be appropriate and helpful to some of our clients, others will have more individualized needs. You will need to ask each client to describe their current workflow in detail, their concerns about changes, and their internal vs external current communication methods. The employees’ emotional responses, readiness and anxiety around a new work-from-home situation are also key considerations.
An employee who does not know what is expected of them while working at home may become less efficient over time, which can add anxiety to the business owner during an already challenging time. To ensure a successful transition, having Employee guidelines will not only make expectations crystal clear (for both sides) but can provide flexibility for home life and responsibility of childcare. An Employee handbook could (and should) be created. Some of us may already have similar documents that can be customized or edited to assist our clients. Those of us who have remote workers will have an immediate understanding of the challenges facing our customers and will have overcome a lot of them. Pass on your knowledge and experience to help your company and your client survive. If layoffs are necessary, get the Record of Employments filed quickly online and ask the employer if they would like you provide resources to the Employee regarding how to apply online for benefits, and the new regulations regarding qualifications. Automatic payroll delivery will also need to be considered if it is not already in place.
Going remote will have some costs associated with it that these owners may not be aware of. Help them put together a budget for the transition. If a drop in their revenue is likely, or they expect additional expenses, then revisit, create and/or revise their budget and sales forecasts.
This is where we can shine.Our clients are going to be forced to look at things in detail. Introduce them to “just in time” inventory control measures, or strategies to tighten up on Days-Outstanding in Accounts Receivable. Introduce online payments and purchase order controls. Prepare a “worst-case” scenario Sales forecast and revisit every expense, eliminating anything that is non-essential.
Brainstorm with them on other ways to bring in revenue, how they could serve their clients better, and retain valuable employees. Throw everything on the table and see what might stick that could help them. Extraordinary times call for extraordinary ideas.
Introduce them to how you keep your remote team connected. Suggest Zoom meetings or coffee breaks around the virtual water cooler every day. Use restaurants who deliver by ordering lunch from them every Friday and have it delivered to Employees’ home so you can all have a Zoom lunch party together. Doing things like this will give everyone something to look forward to. You, as bookkeepers, know communication tools are essential for remote work. Decisions about what Apps to use will need to be made quickly – let them know the pros and cons of all the ones you are familiar with or have researched so they can make quicker decisions. Help get them started with a free version, and only move up to a paid version if needed. A great free simple-to-use training tool that I recently heard about is Loom. Here is a link to a YouTube video by Hector Garcia – send this link to your clients and their staff so they are able to get set up swiftly with Loom: https://www.youtube.com/watch?v=rqGV5LTuPKI. Or create your training video with Loom!
This Change may be Long-lasting
The impact of COVID-19 has turned the world of small business upside down and scrambling to survive. Analyze your clients to uncover which ones are most vulnerable and how you might support them. Show them now how valuable it is to have a pro-active bookkeeper contributing to their survival in the bad times, and this will create loyalty in the good times!
Dianne Mueller, CPB (Certified Professional Bookkeeper)