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Entries in chandra bhansali (7)

Wednesday
Jul052017

Chandra Bhansali speaking at 2017 NY Accounting Show

 

Dr. Chandra Bhansali, CEO and co-founder of AccountantsWorld, will be speaking at the 2017 New York and Northeast Accounting Show and Conference. The show will take place July 12-13 at the Pennsylvania Hotel in New York City.


Dr. Chandra BhansaliDr. Bhansali will be speaking on Thursday, July 13, at 11 am, along with Rick Telberg, publisher of CPA Trendlines. Their topic: How to Put Cloud Computing to Work in Your Practice. Dr. Bhansali and Mr. Telberg will discuss:

 

  • four ways to ensure that your firm experiences the full benefits of the cloud
  • how the right cloud approach can help you build sustainable value in your practice - without adding new clients or staff
  • the differences between various approaches to cloud adoption and migration
  • how to identify and implement the right cloud strategy for your firm's specific needs

 

 

Click here to register for the 2017 NY and Northeast Accounting Show. 

 

Friday
Oct142016

AccountantsWorld Co-Founders Named Top 100 Most Influential People in Accounting

AccountantsWorld founders Dr. Chandra Bhansali and Sharada Bhansali were both once again named to the Top 100 Most Influential People in Accounting list by Accounting Today magazine for 2016. They have now achieved a combined 18 awards in the Top 100 list.

For more than 16 years, the couple has transformed the accounting profession by designing highly acclaimed, cloud-based solutions for professional accounting, payroll, document management and more. Winners are nominated by industry professionals and peers who are asked to identify who they believe are the most influential people in the sector.

"For us to be consistently named among the most influential people in accounting each year is an incredible honor," said Dr. Chandra Bhansali, CEO and co-founder. "It is gratifying to see that our peers recognize the achievements of not only the two of us, but our entire team. This recognition further fuels our passion to continue developing innovative tools to better serve accountants and their clients."

Since the company's inception in 1999, AccountantsWorld has been a pioneer in leveraging the power of the Internet to help accountants advance their practices. Chandra and Sharada led the effort to create a complete suite of fully integrated, cloud-based products that puts accountants back in control of their core offerings, while also fostering greater collaboration with their clients. And unlike most other solutions providers, AccountantsWorld has made an unwavering commitment to professional accountants by never selling its products or services directly to their clients.

AccountantsWorld continues to enhance its products every year, and most recently added an integrated bill payment feature to Accounting Power, which received a five-star rating from CPA Practice Advisor. This focus on continued innovation has earned AccountantsWorld countless product awards, including "Best Small CPA Firm Solution" and "Best Cloud Power Solution" by K2 Enterprises.

"As technology continues to advance, we will remain focused on helping accounting professionals grow their practices and strengthen client relationships by empowering them with cutting-edge software solutions," said Sharada Bhansali, co-founder of AccountantsWorld. "Whether it's via mobile platforms, third-party integrations or strategic partnerships, we strive to make their professional lives easier and help them stay ahead of the game." 

To view the complete list of the Top 100 Most Influential People in Accounting, please visit www.AccountingToday.com.

Wednesday
Jun292016

Accountants, Cure Your Client's Pain - And Yours Too

Recently, I attended a meeting of small business owners and casually asked how many of them enjoyed doing accounting. Out of a group of about 30 business owners, three hands went up.

I’d guess that if you were to poll your own clients, the results wouldn’t be much different. You know from experience that the vast majority of small businesses find accounting work to be a hassle.

For many small business owners, managing accounting functions is simply a distraction from what they love to do - growing their businesses. Accounting is mostly seen as a regulatory burden, and few small businesses use accounting tools proactively to manage their business finances.

Finally, it’s often hard for small businesses to get competent accounting or bookkeeping staff or help. And you know well what the consequences are for you and your clients. For one, you spend a significant amount of your time fixing the bookkeeping errors clients make. Numerous surveys of accounting practices have rated this as one of the major challenges accountants face.

How Did This Happen?

All of the above are the easily foreseeable results of using popular DIY accounting software like QuickBooks – solutions that were created for small businesses, but not for professional use.

The question then arises - why recommend these DIY accounting programs to your clients? The response from most accountants is straightforward – “what choice do I have?”

Virtually all of the accounting systems on the market today are DIY systems. Even most cloud-based accounting systems are created primarily for small businesses, and are based on the DIY model. Here's the amazing part: Despite knowing that most small businesses don’t like performing accounting tasks, most accounting system software providers continue to push DIY accounting systems to small businesses.

So What’s the Solution?

It’s simple – eliminate the need for your small business clients to perform accounting functions in their offices, and have your firm handle all accounting functions for them!

You can become the solution by offering complete accounting services to your clients, including paying bills, recording transactions, performing trial balance work, creating financials, and managing your clients’ cash flow and business finances.

Not surprisingly, accountants usually find that the DIY systems that were created for small businesses aren’t the right solutions to offer complete accounting services to their clients. To deliver such services effectively, you need a cloud-based professional accounting system that lets your staff do what your clients’ staff currently does… only faster, better and more accurately, without leaving your office.

What to Look for in a Professional Accounting System

Not all of your clients will choose to engage you to perform all of their accounting functions, and you’ll have clients who want to continue to do some accounting work. But your professional system should let you work collaboratively with those clients, giving you the ability to customize the system for each client to let them do the tasks they feel comfortable performing.

A professional system should help your firm perform write-up work efficiently for the clients who don’t want to stop writing manual checks. Automatic bank feeds can cut data entry time significantly, reducing your write-up time by 50-70%.

To accommodate the clients who continue to use another system, choose a solution that has powerful trial balance capabilities and lets you prepare fully customizable financial statements easily. For maximum efficiency, look for a system that lets you easily import client data into your accounting system to perform trial balance work and prepare financials.

And, to help you to offer virtual CFO services to your clients, look for a system that provides a comprehensive dashboard, alerts, and snapshot capabilities.

 

 

 DIY accounting solutions were a necessity of the desktop, but neither you nor your clients have to live with their limitations any longer. The cloud has opened the door to bring complete accounting services back to accountants. Don’t miss this unique opportunity to grow your practice and serve your clients better.

Webinar: Beyond Quickbooks

Thursday
Mar312016

Growth Opportunities Outweigh Challenges for Accountants

Now that tax season has (thankfully) come to a close, it's the perfect time of year for accountants to broaden the view of their practice.  They should think not only about how they’re going to survive the next tax season, but also about generating a perennial revenue stream beyond tax season.

 

A recent survey of 301 managing partners of small accounting firms (firms with five or fewer equity partners and a maximum of $10 million in annual revenues) found that seven out of ten managing partners expect it will be more difficult for their firms to make money in 2016 than it was in 2015.  However, opportunities to make money may not be so difficult to come by.

While taking on additional clients is a viable option to increase revenue, a better option is to offer additional services to existing clients. Most accountants don’t know what additional services to offer, and many think they don’t have the time to handle additional services. These accountants should be thinking critically about streamlining their internal processes to accommodate a larger volume of work, because significant opportunities for offering additional services to their existing clients do exist.

A new survey by AccountantsWorld found that 25 percent of the small business owners surveyed said they’d be at least “somewhat interested” in transferring more of their accounting work to their accountants. So, with one out of every four small business owners open to an expanded relationship with their accountants, there is no better time for firms to be reaching out to current or prospective clients to expand their slate of services before the tax season crush. The survey also found that when a small business employs an internal bookkeeper, interest in outsourcing accounting work increases to 45 percent.

Since payroll is so highly intertwined with clients’ overall expenses and tax liabilities, it's a natural fit for accountants to also manage this function for their clients. If you haven’t considered offering payroll services because of the perception that payroll is an “all pain, no gain” service, consider that thousands of accountants have turned payroll into a virtually painless, highly profitable service. How? By using professional, robust cloud-based payroll systems created exclusively for accountants, like the award-winning Payroll Relief solution.

 


Knowing that additional ways of raising the bottom line exist, the next step is to find the resources needed to add those services. The trick for accountants to offer additional services without adding any staff is to focus on streamlining. By reducing the time spent on existing services and finding ways to provide additional services with minimal time and effort, adding services without adding staff becomes possible. The right professional cloud solutions can help you accomplish both.

Many accountants know that the primary source of wasted time in their practices is dealing with errors that clients make. Using a truly professional accounting system can change that, once and for all. How? A professional system lets accountants work collaboratively with their clients and gives them the ability to customize the system for each client, to ensure clients access only the functions they can perform. This enables accountants to drastically reduce client errors and regain significant time.  

Professional accounting systems like Accounting Power also make it much faster and easier to produce customizable financial statements, and accountants can take advantage of time-saving features, such as bank feeds that reduce the data entry time needed for the write-up work they perform for clients who write manual checks - time they can use to offer complete accounting services and payroll services.

 


 

Cloud-based professional accounting systems can also help accountants offer payroll and complete accounting services faster and easier by making it possible for accountants’ staff to do what clients’ staff or their external bookkeepers currently do – only faster, easier and more accurately and without leaving the office. Cloud-based payroll solutions created exclusively for accountants have also introduced a high level of automation in payroll processing, allowing accountants to offer highly profitable payroll services with minimal staff time.

These systems make it possible for accountants to generate significant additional revenues by offering payroll and complete accounting services without adding any stress to their staff. In fact, streamlining work flow and eliminating redundancies and unnecessary work actually increases staff satisfaction. 

Professional accounting systems like Accounting Power make it easy to manage the financial health of your small business clients, thanks to customizable alerts, snapshots, financial ratios and a configurable dashboard.

As a bonus, cloud-based professional accounting solutions include analytical tools to monitor client key performance indicators (KPIs) and cash flow with minimal effort. These value-added services provide additional sources of increased profits while strengthening client relationships.  

Your clients are looking for you to offer them the additional services they need - services that you can easily offer. What are you waiting for?

 

Thursday
Dec172015

AccountantsWorld selected as Finalist For 2015 Cloud Awards

AccountantsWorld is proud to announce that we've been chosen as a finalist in the 2015-2016 Cloud Awards Program in the category Best HR / Payroll Solution!

 

With awards for excellence and innovation in cloud computing, the Cloud Computing awards program accepts entries from across the globe, including the US, Canada, Australasia and EMEA. Entries are accepted from organizations of any size and include start-ups and government bodies. The program is now in its fifth year.

"It's a truly special honor for AccountantsWorld to be recognized in the 2015-16 Cloud Awards. To make the shortlist against such competition illustrates the level of service and commitment to our customers we strive for and achieve," said Dr. Chandra Bhansali, AccountantsWorld CEO and co-founder. "We are excited to continue to support the accounting profession by providing accountants with innovative tools and resources to better serve their clients and make their practices more rewarding and profitable."

Award winners will be announced in January 2016. Click here to see the full list of finalists for 2015.