Words that win clients

Welcome to this week's Net Gains newsletter! This issue is packed tighter than a month-end close to-do list.

We explore what a 23-year-old forensic accountant actually does all day, why doctors are giving accountants a heads up about private equity and how to stop losing clients because you sound too much like an accounting textbook.

Let's get into it.

But what does a forensic accountant actually do all day? TikTokker @camrynmca spills the tea on her timesheets (figuratively), including Ponzi schemes and insider trading.

Private equity déjà vu? Doctors warn accountants: what happened to them could happen to you.

Franchise accounting got you frazzled? Sage breaks down how to wrestle with royalties and recognize revenue. 

Watch your write-offs: As the economy dips, so-called "friendly fraud" is on the rise.

From crunching numbers to clearing the fog

David Safeer, founder and CEO of Cash is Clear Learning Systems, is on a mission to redefine how accountants think about their value. If your clients are consistently profitable on paper but always stressed about making payroll, you'll want to hear what Safeer has to say.

In this interview with The Net Gains, Safeer breaks down why cash flow, not just profit, is the secret to sustainable growth. He also weighs in on how to spot the blind spots that quietly kill momentum and the five essential steps to delivering cash flow advisory services that actually move the needle. -Janet Berry-Johnson 

Many business owners focus solely on profits, but you emphasize cash flow. How can accountants help clients prioritize cash flow as a driver of sustainable growth?

Accountants can help their clients by starting with their own mindset. I see it daily: accountants fixate on profit and/or taxes while neglecting cash flow. They pass this fixation onto their clients.

Accountants first shift their mindset, and then introduce tools like 13-week cash flow models and cash flow management strategies. Combined, they eliminate negative future bank balances, which is the foundation of helping a business thrive. Once you master the fundamentals, you pick key strategies to maximize cash flow.

What are some common cash flow blind spots that accountants and advisors can help business owners identify and correct to improve profitability and scalability?

Accountants in my mastermind course learn to identify critical cash flow blind spots. Inventory overstocking, extended collection periods and excessive overhead creep are easy to learn.

They open their eyes and minds when we dig past symptoms to find root-cause problems. Inventory? Why overstock, and how do you prevent it? A/R? Prevent late payments before they happen. Learning why expenses are high allows you to cut the right ones. Transitioning from reactive tactics to proactive strategies positions accountants as strategic transformation agents.

For accountants looking to incorporate cash flow advisory into their service offerings, what skills or tools do they need to deliver meaningful insights to clients?

Cash flow advisory engagements have five key steps. Each step requires skills typically beyond an accountant’s formal education.

1. Mentor. Teach business owners new skills and frameworks.
2. Mindset. Cash flow is not accounting. No theory. No principles. It is basic math combined with real-life timing.  Accountants need to see this first and then teach their clients.
3. Model. Understand how cash flows in and out so you can predict the future, including the impact of changes.
4. Manage. Change the timing of cash in and out of the company so clients have money when they need it.
5. Maximize. Implement strategic changes that improve the business to increase cash flow and profit.  

Speak clearly and grow

Great communication isn't just for keynote speakers. In a recent episode of "The Successful Bookkeeper" podcast, Ruth Milligan, founder of Articulation and curator of TEDxColumbus, shares why communication is an essential business skill. 

Milligan breaks down how fuzzy emails, jargon overload and filler words quietly chip away at your credibility, and how to fix them. Give it a listen, and you'll learn how to explain complex topics without watering them down and show up confidently in every client conversation.

Why this matters: If your emails confuse instead of clarify or your proposals aren't landing, it might not be your pricing. It might be your phrasing. (The Successful Bookkeeper)

Built for chaos

Thinking about launching your own firm but worried about the uncertainty in the economy? Learn from Matt Bontrager, CPA and managing partner at TrueBooks CPA.

In a recent episode of the Nevada State Bank's podcast, "Through the Door: The Insider's Perspective on Running a Business," Bontrager shares with host Megan Comfort how he built a thriving accounting firm in one of the most unpredictable moments in recent history: January 2020. 

Their conversation covers how TrueBooks CPA's virtual model, sharp online strategy and commitment to education helped the firm survive and scale. From hiring the right people to embracing flexibility, Bontrager offers a candid look at what it really takes to grow fast and smart.

Why this matters: Accounting isn't just about balance sheets; it's about building a resilient, modern business. Bontrager's story proves that when you embrace tech, trust your team and think beyond busy season, you can turn challenges into serious momentum. (Nevada State Bank)

 85% 

Difference in spending on education between people with multiple income streams and those with a single job. (Harvard Business School)

• Inclusive firms build a team where everyone actually belongs
• New House bill could shake up tax deductions
• FASB updates how business combinations get accounted for
• Audit automation is here to help, not take your job
• Fewer raises ahead as CFOs tighten compensation plans

QBOA gets a glow-up for accountants

Intuit just gave QuickBooks Online Accountant (QBOA) users a few new tricks to make life a little easier (and maybe less soul-crushing during busy season).

The latest updates include more streamlined document and task management, better client request tracking and tools to help you stay on top of deadlines. Plus, a new dashboard gives a clearer view of what's coming due and what's falling through the cracks. No more chasing spreadsheets or losing sleep over forgotten follow-ups.

Why this matters: If you're already living inside QBOA, these updates could save you some serious time. Better workflow tools mean less admin overhead and more brain space for strategic work (or at least fewer open browser tabs). (CPA Practice Advisor)

The Net Gains is your one-stop shop for fresh, FREE accounting insights. You can reach the newsletter team at thenetgains@mynewsletter.co. We enjoy hearing from you.

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The Net Gains is curated and written by Janet Berry-Johnson and edited by Bianca Prieto.