Gabbyville

What is Accounting?

Accounting refers to the practice and profession which involves recording financial transactions, maintaining financial records and audits, analyzing financial information and complying with taxation matters for individuals and businesses.

What is Bookkeeping?

Bookkeeping deals with the accurate and up-to-date recording, interpreting and reporting of financial transactions of individuals or businesses. Transactions such as daily sales for businesses are recorded daily.

The accounting industry is dynamic and expansive. Healthcare professionals interact and deal with a variety of patients daily. This is why there are a lot of challenges these professionals face.

Here are some common industry issues that accounting professionals like you may encounter:

1. Communicating effectively with clients

Ineffective communication with clients lead to poor business decisions and practices. Important reports, payments, payroll, income information, budget preparation are oftentimes hard to understand.

What accounting professionals can do:

Make sure that accounting information are reported accurately in writing. The report format you choose should have a legend or should come with helpful line descriptions that even non-accounting professionals can easily navigate and understand. All reports should be organized, dated properly, with the most recent one on top.

2. Talent acquisition

Businesses in the accounting industry find that it’s hard to find and keep good people to work for their companies. It’s not as easy to find accountants, as to qualify as one, you would have to have the necessary skills and pass the CPA exam.

What accounting professionals can do:

With accountants and accounting professionals hard to find, it is important to make things interesting for new professionals in the field to choose your firm or company. Can you offer great leadership and experience? Competitive benefits? Make sure that your company has room for professional growth.

3. Finding new clients

This proves to be one of the top challenges for accountants and firms, as competition is fierce and international workforce proves to be hard to compete with.

What accounting professionals can do:

Make sure that you give your accounting service or firm an edge by fully understanding what your clients need and offering specialized services, especially if you have specialties that you can offer to a wide clientele, that you can probably offer at a different price point. It’s also a good idea to ask for referrals from your existing clients, or create a referral bonus program that your clients can participate in.

Accurate, empathetic, and professional communications with your patients rank high in your must-haves as an accounting professional. And we at Gabbyville are armed with the right tools and skills to make sure that your goal is met every single day, with every single phone call.

We know the legal lingo by heart!

We understand that bookkeepers communicate with their colleagues, auditors, and clients constantly. This is why our Gabbonistas are trained on basic bookkeeping lingo to make sure that our calls are professional and are also efficient, to save you money. We are known for confidently communicating about balance sheets, bookkeeping cycles, cash flows, deductibles, and so much more! You can count on our trusty Gabbonistas to speak confidently and knowledgeably to your clients.