Firm of the Future Profile: Beach Cities Accounting
Welcome back to our Firm of the Future profile series about thriving firms and consultants who are benefiting from the cloud and QuickBooks® Online Accountant (QBOA) to better serve clients and find new revenue opportunities. In this new article, we spotlight Kathy McQuiggan of Beach Cities Accounting.
Mindy King: Tell us about your firm.
Kathy McQuiggan: Beach Cities Accounting provides a full array of on-site and cloud-based accounting services to small- and mid-sized businesses and high-wealth individuals. We empower business owners to aim higher and support them in achieving their goals. Depending on our clients’ needs, our staff can:
- Provide QuickBooks training, set-up, system conversions and data cleanup.
- Manage 100 percent of the business’s accounting needs, including part-time CFO/Controller services.
- Work directly with, and oversee, a client’s in-house bookkeeper to maintain accuracy and compliance.
Combining QuickBooks and business knowledge, Beach Cities Accounting reviews financial statements and key performance indicators with clients in a way that empowers owners to take their business to the next level. Our staff helps companies identify the day-to-day operational issues that negatively impact cash flow and profitability. We use the best technology to give clients greater levels of automation, efficiency and profitability. Our clients can access financial results 24/7 from any mobile device.
Our team members make all the difference. I’m a CPA with Big 4 audit experience, and I’m advanced certified in both QuickBooks Desktop and QuickBooks Online (QBO). Our firm is QuickBooks-centric and all team members are QuickBooks certified.
We do not do taxes. We tell our clients we do the fun stuff. The IRS code is not fun! We give our clients the gift of time by relieving them of the burden of accounting. That’s what I consider fun.
MK: How long have you been using QuickBooks Online Accountant?
KM: I’ve been using QBOA since I started my firm in 2012. QBO was obviously here to stay and was going to be the preferred system for new businesses. In 2012, 360,000 small businesses were using QBO. As of October 2018, QBO had 3.6 million subscribers. It is obviously the wave of the future.
MK: What convinced you to make the move to QuickBooks Online Accountant?
KM: I am a lifelong learner, so I enjoy continuing education conferences and workshops about helping my clients become more profitable, as well as learning more about the latest in QuickBooks and its related applications and processes. At conferences and on webinars, various presenters, including Joe Woodard, Doug Sleeter and Brad Smith, convinced me that if I wanted to reach my goal of 30 percent growth each year, then I needed to dive into QBOA. QBO provides my clients with greater integration with third-party applications that improve efficiencies in their businesses. The same apps are not always available with QuickBooks Desktop.
MK: What are your goals for your practice this year?
KM: We had two major goals for 2018. We are on target to reach our 30 percent annual revenue growth goal. Our second major goal for 2018 was to research and utilize a practice management system. We completed the goal and implemented Teamwork. We love the operational efficiency that the system has provided.
MK: What’s your favorite away-from-the-office place to get work done?
KM: I love our office space in sunny Manhattan Beach, but if I’m not at the office, I’m happy to help our clients from anywhere. I love that I am not tied to the office to help our clients. I know our clients are working 24/7, so we try to be available to them when they need us (within reason, of course).
MK: Where’s the craziest place you’ve done work for a client?
KM: I’m either so crazy that I don’t know I’m crazy or I’m just so boring that I don’t go to crazy places. I’ve helped clients in the middle of volleyball tournaments (as a spectator), sitting in my car (with the car pulled over on the side of the road), at home, while on vacation and while visiting family.
MK: What’s your number one timesavings tip?
KM: Make a list and get it out of your head. In 2018, implementing Teamwork was the formal implementation of our lists and detailed processes for our clients. It has boosted our team’s productivity. When the processes are well documented, we are doing our job more efficiently and effectively.
MK: When you’re not working, what’s your favorite way to spend your time?
KM: Spending time with my kids. My son currently plays basketball and volleyball so I love watching his games, and my daughter is going to school in Utah so I love either going to Salt Lake City to visit her, or savoring the time when she comes home.
MK: What advice do you have for peers that are still on desktop?
KM: Just do it! Why wait? If you don’t want to do it, then send all your clients that want to move to QBO to me. If you don’t have any clients asking to go onto QBO, then my guess is the average age of your clients is 50+. Do those folks a favor and persuade them to join the cloud revolution!
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