What's Next For Accounting? - Issue #67

🗓️ This Week

• I was recently interviewed on the Concierge CPA podcast

• On my pod this week I talked with internet celebrity Mitchell Baldridge about why he developed custom no-code software to automate his CPA firm

• A bunch of accounting folk shared the most broken parts of their workflow here

• I shared some info about a firm generating $2M/yr top line with two full time employees

• Taxbit acquires crypto accounting platform Tactic

• Trust & estate platform Slatewell raises $3M

• Zapier with some best-practices for how to keep your Zaps organized

• A Chrome extension to use Excel keyboard shortcuts in Google Sheets

• Slite launches an AI assistant to ask questions about all the data in your Slite workspace - this is a great preview of how this will be invaluable in your Office 365, Google Workspace & practice management environments

⚠️Warning ChatGPT Ahead⚠️

• ChatGPT Professional is now rolling out

• Perplexity is a spin on ChatGPT that cites sources. I ran through an example quizzing it on the business use of home deduction. This is very similar to what I'm looking for in the future of AI-enabled tax research

• 10X Your Excel Skills with ChatGPT - Absolutely useful for sweaty formulas

• This Guardian writer says ChatGPT generates in 30 seconds, for free, something she charges $500 for

🤖 Automate My Thing

A Free Writing Editor

We've all heard of AI-written articles, but the way I use AI most today? Editing. I went through my full process in this thread.

My most common use-cases:

• Draft a response to a sticky email by providing a few bullet points of what to communicate

• Rewrite my email in a more convincing/confident/kind tone

• Generate a list of counter-arguments

Once you've trained ChatGPT on your voice, the feedback is excellent, and a departure from the boilerplate verbiage you get by default. It's the #1 mistake I see people making with playing with ChatGPT, lack of instruction.

Don't like what you got? It probably means you didn't train it to do specifically what you're looking for. At some stage in our lives we've all been frustrated with a junior not being able to read your mind, before coming to the realization that it's up to you to clearly communicate your expectation. It's even easier to project this expectation on AI.

💎This Week's Sponsor

Put your client reporting on autopilot with LiveFlow

😍From The Community

• 01/30 🕸️ Into The Chadiverse with Chad Davis

• 02/01 📗 Book Club - S04E02 with Kate Presto

• 02/01 🎤 Who Runs The World - “What’s wrong with being confident?” with Twyla Verhelst

• 02/08 🚜 The Content Farm - Idea Harvesting with Jason Staats

• 02/09 📗 Book Club - S04E03 with Kate Presto

• 02/14 💘 Swiping Right - February is all about your sweethearts - apps and clients with Kellie Parks

• 02/15 📗 Book Club - S04E04 with Kate Presto

• 02/16 🏫 Hall Pass - Identifying a Niche with Brandon Hall

• 02/21 📗 Book Club - S04E05 with Rachel Fisch

• 02/22 🐠 EOS-Ish with Rachel Fisch - The Model with Rachel Fisch

My community Realize is a private space for people to swap ideas & collaborate. At $180/mo it’s also the way I finance everything else I do, pay a full-time creative director, and a part-time developer in an effort to make the accounting industry a slightly better place 💗 The community is currently about 275 members strong.