Accounting Blog

What is Reach Reporting? Reach Reporting is a comprehensive financial reporting and analysis software designed to streamline the process of creating insightful and visually appealing reports. With its robust features, it helps accountants, CFOs, business advisors, and...

How do small accounting firms network? How important is communication? How do you use reporting to improve communication?

As businesses enter a new year, many are looking to grow their clientele. However, before increasing marketing spending, firms should consider investing in strengthening their client relationships to reduce client losses and keep their most valuable assets. In fact,...

With more and more accountants striking out on their own, here are a few things you should consider as you begin your firm.

Quality financial reporting is vital to help point your client in the right direction. By ensuring your reports are meaningful and measurable, you are showing your knowledge of your client’s company, its current situation, and its goals. 

People are leaving their jobs in droves in search of their own promised land. During this great exodus, the need for accountants rises, creating opportunities for accountants who see the signs.

As an accountant, you understand the fear that many business owners face when it comes to their finances. Confusion and uncertainty can lead to fear, which in turn can hold your clients back from future success. Your job as an accountant is to dispel that fear by...

Congratulations! Your accounting firm is growing! You are no longer a small mom-and-pop business with just a handful of accountants doing all the work. So, now what?? This transitional time is critical for firms and their future success. This article will dive into...

Your clients are wisely searching for the right financial professional who can help them unlock their financial growth. “Financial success does not fall in your lap,” says Justin Hatch, CEO of Reach Reporting. “You have to be intentional with your choices. How...

The Problem Dave Carlson, President and Chief Operating Officer of Summit Technology As President and COO of Summit Technology, I know this business inside and out and which KPIs are most important to our short and long-term goals. As a business owner, I need regular...

Contributing factors to Accounting stress Today's business structures make financial and managerial reporting daunting, overwhelming, and just downright frustrating. With businesses implementing more systems that need reporting and each company seeming different from...

Have you ever forgotten the "Why" of Financial Reporting and Analysis? As you sit at your desk and create this month's financial reports for your clients, you may ask yourself, "Why am I doing this? Is this helping my clients at all? "It is essential always to keep...

Accounting is at a defining moment. With businesses looking for more than just end-of-month statements, IT has stepped up their AI efforts, while accountants are improving their deliverables and communications.
Who will succeed?

Not everyone thinks financial statements, spreadsheets, and numbers are exciting. I know, weird, right?  Most of your clients are business owners with talents in other areas. They are not accountants; that's why they hired you!! Giving a non-accountant a spreadsheet...

Accounting Principles Accounting Principles, commonly known as GAAP, are an essential aspect of financial accounting policies and practices. These principles provide guidance on how accounting transactions should be recorded and reported, ensuring transparency and...

“Ladies and gentlemen, welcome to the main event. In this corner, weighing in at 225 pounds and having been an official profession since 1897, THE ACCOUNTANT.  In this corner, we have THE ADVISOR; while newer in the industry, the advisor weighs in at 207 pounds and...

As Director of Technology, I implement and create best practices for tech delivery to our clients. I was instrumental in getting the structure and templates set up within Reach Reporting to support our team with financial dashboards and reports they provide their clients.

Fathom HQ has been part of the QuickBooks Online Advanced reporting package since October 2018. With Fathoms’ Smart Reporting free offer ending soon, the question most users are having is why?

NEWS RELEASE FOR IMMEDIATE RELEASE Reach Reporting and Gusto Partner to Deliver Enhanced Reporting for Advisory Services Springville, Utah, United States – May 5, 2022 – Reach Reporting, the leading flexible reporting tool for accountants, today announced a strategic...

More than Financial Numbers Today’s business leaders are no longer satisfied with pure numbers. They demand valuable insights that contribute to better decision-making and strategy execution, especially around their most vital asset: their people. Increasing Your...

Helping Clients Achieve Financial Goals Duncan Lloyd, the Executive Director of Cloudaccountant.com, a traditional firm of Profit First accountants, recently sat down with Reach Reporting to discuss how financial reporting helps his clients achieve their financial...

What makes a person genuinely good at what they do? What are those essential traits they possess to help them raise the bar in their profession? We all possess different characteristics and talents that make us unique.

Effective communication between an accountant and their client is the key to a successful partnership. Without it, all the numbers and data are useless. 

There have been far too many times in my own life when I would go into work at 4:00 am to go home at 10:00 pm and go into my home office to work some more, only to do it all again in 3 more hours. I was not checking to make sure my business and life books were balanced, and I began resenting every day and becoming a person people avoided.

The faux pas of discussing money and salaries is out the door for this article.  Whether we like it or not, money, and in turn salaries, are a BIG deciding factor in what career we study for, where we live, what jobs we accept, and how we live each day. 

Financial reporting is SO much more than raw data in a spreadsheet. It is the story of your client’s business. A well-constructed financial report gives your client all the relevant information they need to make prudent financial decisions in a digestible, easy-to-understand form. 

Before you get into accounting, or even if you are already years into your career, you may want to consider adding any of these six degrees to your accounting degree to give you the edge.

There can be a lot of soul-sucking repetition in accounting. However, there can also be intrigue and passion, and you don’t have to be a mafia accountant to experience it.

Every company, big or small, in any industry can benefit from financial accounting. However, the best way to handle financial accounting varies depending on the company's size, growth, and structure. In this article, we'll explore the different options for financial...

As a financial advisor, part of your job is teaching your clients. You are more than a report generator, number-puncher-inner, and tax preparer. Educating clients not only helps them but helps you as well. They become more versed in how the finances of a business run, which in turn can make their chances of success skyrocket. And you get a grateful client for life. 

You can help your clients ask the right questions about the data you provide by presenting it as information. Data turns into information with context. By doing this, you will increase your value while improving your client’s decision-making for their business. When your clients don’t understand their data, they may miss opportunities to propel their business forward. 

Now more than ever, clients are expecting clear communication from financial professionals. When a firm is lacking in its communication skills, that firm is missing out on revenue. The better a firm understands the value of good communication, the more likely it will implement and improve communication practices and policies.

Are you familiar with the DIKW pyramid? No, it is not one of the Great Pyramids of Giza. No, you did not learn it in elementary school, akin to the food pyramid. It’s ok. Most people are unfamiliar with this pyramid.

One of the most confusing aspects of a financial report is when accountants provide data without context. A 5% increase in revenue from last month sounds impressive but is it? Is the growth taking in the 10% increase in the cost of goods or the additional employees? Though there was a 5% increase in revenue, is your client realizing they dropped 8% in net profit?

Today we’re going to talk about dashboards and financial statements. So this is a chance that some of our CPAs made over the last year. I would venture to guess this is probably one of the most impactful changes we’ve made.

Most accountants feel a solid GAAP financial statement is what their clients need but they need more to take advantage of the fair or foul winds of their financials.

If you don’t kiss your clients every time you meet you should. Here are a few tips on how to kiss your clients to help them understand how you feel.

Think of your chart of accounts like a filing cabinet. Each drawer represents an account. Each file is an accounting transaction. The better organized and structured your filing cabinet is, the more granular your reports can be. 

The causes of stress can be different for each of us and different based on industry. Some pressures come from within ourselves, and some come from outside sources. 

Accurate and proactive reporting makes a huge difference in analytics and financial performance. By increasing the perceived value of financial reporting, most companies help their decision-makers understand the importance of these powerful tools to help them grow, innovate and compete effectively.

Learn tips on providing visualized financial data with insight that business owners are demanding so they to be more agile, more innovative, and more profitable than their industry peers. 

As the CEO of Reach Reporting, Justin Hatch has met countless business owners struggling to understand their financial data. However, the pain point of data comprehension has created an opportunity for savvy financial professionals to differentiate their services and...

As technology continues to evolve, accounting firms must adapt to stay competitive. However, many small to medium-sized accounting firms hesitate to adopt new technologies. According to Sage, 13% of firms lack time, 38% lack money, and 25% lack expertise. Benefits of...

Discovering and finding the most crucial data insights for your clients is only the first part of your job as their accountant and financial advisor.  Transforming those insights into understandable financial stories is the second, and I believe, the most critical part. 

The pandemic has not only brought about health and economic concerns, but it has also significantly impacted the way we work. As we slowly emerge from this unprecedented time, we have learned that allowing employees to work remotely, at least part-time, may lead to...

Simply creating and then giving clients a financial report is NOT ENOUGH. The message needs to tell the story of their financial situation.

Here at Reach Reporting, we're all about creating charts and graphs that bring financial data to life. After all, a well-crafted chart can make complex spreadsheets much easier to understand and consume. But, in order to make charts effective, proper layout and color...

Reach Reporting is the only solution that we’ve found in our price range that allows us to standardize our custom solutions. That’s been critical in our growth.

It is becoming less and less acceptable to be a reactive accountant who prepares taxes once a year, producing tedious and confusing financial reports. Your current and future clients want a forward-thinking approach to their financials. 

Every business owner, CFO, CEO, or Company President knows the importance of cash flow when running a business. Regardless of the size of the company or the industry they work in, cash is king. 

No matter if your business provides a service or produces and sells a product, you have a break-even point (BEP). Knowing your break-even point will be critical in your success and your ability to make your company’s best financial decision. 

We define accounting as “The Language of Business” because the accountant plays an essential role in interpreting that language to their client.  Therefore, the small business owner values an accountant who can help them understand the financial details of their business.  

As you are preparing to offer more financial advisory services at your firm, there are opportunities to up your chances of success. Of course, being a total pro with your accounting skills is at the top of your list of assets!

With the pandemic and financial, political, and social unrest, financial professionals are experiencing an unprecedented level of stress at work. According to a recent survey by staffing firm Accuntemps, 52 percent of financial professionals are stressed at work, and...

Social media has become an essential tool for businesses, and accounting firms are no exception. With an estimated 3.96 billion people on social media in 2021, there is a massive audience waiting to hear from you. The opportunities social media presents for accounting...

Small business owners are the backbone of the American economy, with over 30 million businesses driving growth and innovation. However, many of these businesses struggle to understand their financials, leading to cash flow management problems and, ultimately, business...

As an accounting and financial professional, you work tirelessly to keep your clients' finances in order. However, there are days when the "BLAHS" set in, and you need inspiration to keep putting one foot in front of the other. Where to start can sometimes be the...

Happy clients are the lifeblood of any business, and this is especially true for those in the accounting industry. But how can you create happy CPA clients? How do you keep them coming back and referring you to their friends and colleagues? The key is to focus on...

In today's fast-paced business world, companies that do not adapt to new technology may fall behind. Accounting firms are no exception to this rule. However, many small and medium-sized accounting firms are hesitant to adopt new technology, as per Sage's Practice of...

Are you tired of hourly billing and the constant pressure to track your time? Have you considered switching to a value-based pricing model that focuses on delivering the best possible results for your clients? If so, you're not alone. Many accounting firms are moving...

When it comes to your business and having the necessary tools to reach your goals and grow the company, an accountant can be your best friend.  Take advantage of their expertise and listen when they explain what changes can help improve your business.  It all begins with the words, “I don’t understand.”

A change in market mind-sets and a shift in industry demographics are causing accountants to expand their offering to advisory services’ with value-based pricing. You have to ask yourself if you try to change the direction of the market, or do you go with it?

Financial statements are full of valuable financial information. They often have SO much helpful information; some of it gets lost in the shuffle and missed. Make a concerted effort not to overlook your “Cost of Goods Sold” data. 

Here are eight songs that you should add to your accounting playlist. Let us know what you think.

In 2021 Accountants are returning to value-based billing to increase their revenue stream by offering year-round services to their clients.

As a small business owner, you know how vital it is to keep your books updated. Unfortunately, up to date books do not automatically translate into understanding your financials.

As a CPA, you want to take care of your clients, give them everything they need to make prudent financial decisions. Here are 5 Reports you should be giving your clients.

Create visual financial reports and your clients will begin seeing the whole financial picture of their business. Your report will help them make better decisions but also make your contributions invaluable to them. 

Change the game by taking advantage of how the human brain naturally collects information. The connection between the human brain and the eyes is truly amazing. Let’s take a peek at a few studies to teach us how “seeing is believing” works.

One of the emerging, positive trends we have seen this year is CPA firms moving more towards offering strategic advisory services. This trend changes from the more traditional accounting and compliance services we have seen in the past.

The best CFOs don’t just hand their clients a pile of financial statements and call it a day. Operating as a CPA or a CFO means taking the hard data and helping clients go beyond the what and into the why and how. 

Mr. Hatch is an industry expert in the field of business management specializing in software development and financial reporting. Justin has had nearly 20 years of management experience, and now is serving as CEO of Reach Reporting where his mantra is to absorb complexity wherever possible.

Clients find Reports Difficult As an accountant, you know the importance of financial reporting and its impact on your clients' businesses. However, sometimes, clients find it difficult to understand the data presented in financial reports, making it challenging for...

Reporting is Time-Consuming As an accountant, you know how time-consuming it can be to create financial reports for your clients. But what if you could save time without sacrificing the quality of your reports? That's where Reach Reporting's financial report templates...

There are five financial reports that are vital to your clients. They contain the core financial information they need to make the most prudent financial decisions.

Business owners often don’t prioritize their time to include a deep dive into their financials. They spend their time doing what they do best, running their business!

In any relationship, whether it be marriage, parent/child, student, or employee, when we are aware of the expectations, we can measure ourselves and do a better job fulfilling those expectations.  With this in mind, as a bookkeeper, what do your clients want and need...

The key to unlocking the entire chocolate factory of financial data to your clients. Become their golden ticket.

CPAs and Visual Psychology. You are left-brained, most of your clients are not.  I bet you are wondering why, as a CPA, you need to know anything about psychology and how the brain works and behaves. You may be thinking, "I work in financial data and numbers for a...

Visual financial reports are a critical part of the if you are moving toward a more advisory role. Here is a quick way to create beautiful reports.

Today we would like to share with you some new quality of life updates we have added this week to improve Reach Reporting. You will now notice that we have added some new shapes to match the icons available when using conditional formatting. These can be found within...

Whether you are new to the accounting profession or a seasoned CPA with years of experience under your belt, knowing what your clients expect from you is vital. Specific needs may change over time, but there are a few essential requirements that will never change....

When was the last time you found yourself nodding off while listening to an accountant speak about Tax Compliance or Understanding The Complexities Of Form 5472 And Its Transfer Pricing Implications? Seriously, if we are honest with ourselves, accounting can be...

Humans are Visual Learners.  Frederick R. Barnard first introduced us to the idea that  “A picture is worth a thousand words” in December of 1921. He was writing a publication about the effectiveness of graphics in advertising and the phrase has only become more and...

As regions in the US begin to open up again and enter into this uncharted territory of post-pandemic life, there are many questions and even fewer answers about returning to work. As a business owner, there are obvious concerns about keeping your employees safe and...

The ups and downs and sideways changes with the Payment Protection Progam continue! On June 5th, President Trump signed into law the PPPFA (Payment Protection Program Flexibility Act). Back in April, we posted this article on How to use your PPP loan. Since then, a...