Could you run a remote accountancy firm?
Building a successful accounting practice is challenging enough. Building one while living 9000 miles away is a whole other matter.
But Bethany Galguera, owner of Innovative Accounting, is proof that it really can work. She lives in Thailand while her business is based in Kentucky in the US, with a remote team working from several locations around the world.
In a recent webinar, Bethany shared how she overcame the challenges of running a remote firm and the most important factors for getting this right.
3 essential elements to run a remote accountancy firm
1. Effective communication
Getting communication right can be hard, even when you’re in the same office. Factor in distance and multiple time zones and it becomes even harder.
Bethany has team in the US, Thailand and Bolivia. How does she make sure there are no blips in client communications, for example?
“The team that’s in the US can generally handle things that come in during the day,” she explains. “And most of the time things aren’t really that urgent. I mean, no one’s going to die if we don’t answer their question right away! The client might think they will, but they won’t. So we’ve instituted a one to three day response policy. We train clients on that from the very beginning, from the initial consultation onboarding. Don’t expect us to respond 24 hours a day, seven days a week.”
Both Bethany and the team in Thailand are available two or three evenings a week (which is morning on US Eastern Time), so they can meet clients online. She also uses those times for Zoom calls with her team. Tools like Calendly make it easy to book in appointments.
Tech makes communications within the team much easier too, helping to prevent misunderstandings. Bethany uses Zoom and Teams for quick chats with her team whenever she has a question.
“You’re not there with your staff. You don’t see what’s happening. So I think it’s important to ask questions first. So if I see that somebody took 10 hours on something that that should have taken two, sometimes the reaction is like, What in the world? Why are they taking so long on this? But it’s important to take a step back and ask first, why is this taking so long? Nine times out of 10, there’s a plausible explanation that is not their fault.”
2. Transparency and accountability
As with any accountancy firm, systems are absolutely key. Bethany uses Karbon workflow management to keep track of everything that’s happening.
“Systems and software are just incredibly important to making this work. Each client has timelines for the work items and also for the contact so I can actually jump into a client and see all the communication, the emails, notes, phone calls, anything that happened with the client, even if I wasn’t a part of it. Any of our team, as long as they’re added to the client, can see the client’s activity. Then they can jump in and help a client anytime. That helps with communication. If a client calls and I’m not available, they can still see what I said, and if they can answer the question or they can fix the issue, they can go ahead and do that. So I think that’s a super important thing, to have some type of system that gives accountability, transparency, shares information and also communication.”
The firm uses Quickbooks Online which, again, gives Bethany a clear overview of what’s happening at any time.
“I can see exactly who’s working at that moment. So if I need to reach out to them, I know if they’re on a break, if they’re coming back or if they’re gone for the day. And then from Karbon, it syncs every work item into this task list, and so as soon as we create the work item, it comes out here.”
“We do use it to make sure that we have profitability reports, and we maintain a certain level of profitability per client, but I also like to have this because it shows what people are doing during the day. So if I log in and I’m like, Why didn’t this person complete this task that was supposed to be done yesterday, I can instantly pull up a report of exactly where they spent their time the previous day.”
3. Hire the right people
Having the right people on board is crucial to making this work. After all, you’re trusting them to do the right things, in the right way, at the right time, even though you aren’t there.
Bethany is emphatic on the importance of this.
“I try to only hire people who have integrity, because then I can give them the benefit of the doubt, unless I have proof otherwise. If you trust the people you work with – not blindly, but you have some level of faith in them – then you can think, okay, there’s probably a reason for this before you get upset.”
“Part of the reason that I have amazing staff members is because they really value the fact that they get the same flexibility. They can work from home, they have a flexible schedule, they can work from anywhere. So that actually makes them incredibly loyal, because they value that sometimes more than other things like an increase in wages, or a position, because it allows them to have the life that they want outside of work.”
Even in the best teams, issues arise that, unless they’re dealt with, can escalate into something more serious. So Bethany is quick to take action.
“If I see something that’s not being handled correctly, I will tag them instantly, not in a big deal way, but just like, next time do this or let’s not do this. As long as you’re doing that, then you never or very rarely have big issues, because all of those stay small and they get resolved instantly”.
She also has regular check in meetings with her team every six months.
“It’s really for them to vent, to tell me anything that they have a problem with, any ideas they have, if they have problems with their clients or with other teammates, with the systems. Anything! Because otherwise they might be mad for a year, and because you don’t see them, you’ll never know that they’re angry about something that maybe you could have fixed if you knew about it. I’ll also ask if there’s anything that’s coming up that might affect their work or their employment or their schedule, so that I can plan for it.”
Key takeaways for any accountancy firm, not just working remotely
Whether you run a remote accountancy firm or not, these factors make all the difference. Without the right people, systems and communication in place, it’s a struggle for any firm to be successful.
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- Get the right people on the bus – recruit for attitude, not skills. Look for people who share your values and your vision for your firm.
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- Start with systems – in an ideal world, you’d have great systems in place from the beginning. In the real world, you’ll probably make them up as you go along. The key is to keep reviewing and adapting as your business evolves.
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- Manage expectations through effective communication – whether that’s your team or your clients, everyone is happier when they know where they stand.
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- Put the right tech stack to work – make sure you’re getting the most from your software. Tech companies are continually adding more features and there could be functions you don’t know about that would improve your workflow/service offering.
The full interview with Bethany, where she covers these topics – and others – in more detail, is available in The Accountants KnowHow Club.
If you aren’t subscribing already, you can do a one month trial for just £1 – find out more here – https://avn.co.uk/knowhowclub/