ASK THE ACCOUNTANT #108

Introduction

Good morning, everyone, and a warm welcome to the latest installment of "Ask the Accountant." In today’s episode, we dive into the intriguing topic of social media drama within the accounting and bookkeeping community. Join us as we share insights, experiences, and updates from the industry, as well as discuss the exciting developments in AI technology in accounting software.

Starting the Week

To kick things off, co-host Yan shared his smooth weekend filled with Formula 1 racing excitement. Following that, discussions led to notable predictions about driver performances and a nod of approval for this year's champion, Max Verstappen. Meanwhile, I’ve had quite the rollercoaster of a weekend stemming from some heated social media exchanges. After receiving both praise and backlash over multiple posts, I’ve encountered significant drama that we will unravel later in the show.

Engaging with the Community

As always, our fantastic community joined the live session with enthusiasm. Greetings poured in from viewers, including Shell, Paul, Kirsty, and several others who engage with us consistently throughout our episodes. It’s always heartwarming to see the community come together, lending support and encouragement.

Industry News

In terms of recent announcements, we talked about Sage and their impressive financial results, showcasing a positive trajectory with a 7% revenue increase and a 400 million share buyback program. Their focus on AI advancements has driven much of this success, which is promising for the industry moving forward.

We also discussed QuickBooks, which recently launched its AI-driven tool, "Intuit Assist," aimed at helping accountants manage workloads more efficiently. Despite its initial rollout being US-only, the excitement surrounding its capabilities sparked our discussion on AI's potential to streamline traditional accounting practices.

The Launch of My New Book

On a personal note, I shared an exciting update: the launch of my new book titled The Ultimate Guide to Pricing for Accountants and Bookkeepers. After months of hard work and dedication (including using AI tools to assist with the writing process), I was thrilled to finally release it on Amazon. Feedback and community support have been overwhelmingly positive, providing a significant boost as I navigate this new chapter in my professional journey.

As promised, we turned the conversation to the not-so-glamorous aspect of social media. Following an engagement with QuickBooks about a recently published report, controversy erupted in the comments section. What began as a discussion about transparency evolved into a mudslinging competition between various accounting software users.

I shared my frustration towards the toxicity, highlighting how public discourse can easily devolve into personal attacks and negativity. But what was most distressing was witnessing a rival brand opportunistically use this drama to further their agenda, falsely accusing me of compromised ethical standards in my product endorsements.

Reflections and Conclusion

This episode has been a reminder that social media, although an incredible tool for community building and engagement, can also lead to serious misunderstandings and negativity. Our industry needs to cultivate a more supportive atmosphere where professionals can express opinions without the constant fear of backlash. It’s crucial to move towards positivity, kindness, and constructively engaging with differing viewpoints.

To close our show, we encourage everyone to engage with the accounting community professionally—recognizing that collaboration, rather than competition, should be the guiding principle in our industry.

Keyword

Accounting
AI technology
Social media drama
QuickBooks
Sage
Book launch
Community engagement

FAQ

Q: What was the topic of the latest “Ask the Accountant” episode?
A: The episode focused on social media drama within the accounting community and highlighted exciting developments in AI technology in accounting software.

Q: What is the title of the new book launched by the host?
A: The title of the book is The Ultimate Guide to Pricing for Accountants and Bookkeepers.

Q: What are some recent developments discussed regarding accounting software?
A: Sage announced a strong financial performance, while QuickBooks launched a new AI tool, "Intuit Assist," aimed at enhancing efficiency for accountants.

Q: How does the host feel about current social media dynamics?
A: The host expresses concern about the negativity and personal attacks prevalent in social media interactions, advocating for a more supportive environment within the accounting community.