June's NextGen Gems

We're delighted to bring you another edition of the NextGen Insights: Monthly Newsletter!

This month, we have some fascinating insights. Have you heard about the concept of "Culling vs. Keeping"? And what do you think about the idea of a Paperless IRS (is it possible?)

Last but not least, we bring you a unique point of view: How to be a "team player" (without burnout).

So... Why wait any longer? Let's dive in!

P.S. (Yeah, this is the Marketing Department...Just waving at you.) :)

1. Industry News

The Concept of "Culling vs. keeping": While running daily marathons and chasing clients, we almost forgot the importance of keeping the company's well-being. Jean Marie Caragher, the president of Capstone Marketing, by that means and speaks about why getting rid of bad clients can make a difference when it comes to keeping good staff.

Whoa! What a perspective.?

Explore the latest podcast: Culling versus Keeping on Accounting Today.

Paperless IRS (is it possible?): If two terms are the total opposition, definitely are "paperless" and "IRS." Unsurprisingly, the national taxpayer advocate was greeted with laughter when she coupled the two words during AICPA & CIMA ENGAGE 2023 in Las Vegas. And not just that, she said the IRS version of paperless is a goal in the not-so-distant future.

Dive into this new and fresh point of view: A paperless IRS is possible (source: Journal of Accountancy)

2. Practice Management

How to be a "team player" (without burnout)?

Studies show that people are working five to eight hours more a week now, with collaborations drifting earlier into the morning and later into the evening.?

There are many triggers that spark our desire to say yes so often. But in this video, Rob Cross focuses on the top three: the desire to help others, the need for accomplishment, and fear.

Don't miss out on this unique point of view: "How to be a team player without burnout."

3. Accountants Ask

Is Outsourcing Safe? This is a question we often receive, reflecting professionals' concerns in an industry where confidentiality is paramount.

In short - yes. With the right outsourcing partner and cloud-based software, your data can be as secure, if not more so, than traditional business setups. Providers use advanced encryption, secure VPNs, and two-factor authentication, offering robust protection.

Remember, it's a shared responsibility. Ensuring your firm practices secure data handling is equally important.

With the proper precautions, outsourcing can be a secure, strategic part of your business.

For more insights, check out this GUIDE. ?

4. AI in Accounting

Practical Prompts: Looking to enhance your LinkedIn profile? With AI, you can tailor it to fit your specific needs. Here's a customizable command you can use in Chat GPT?

"Revise my LinkedIn summary for a [Your Role], emphasizing my expertise in [Your Special Skills or Achievements]. The tone should be [Desired Tone of Voice], appealing to a client persona of [Client Persona] seeking [Services You Provide]."

This way, you can personalize the command to fit your unique branding and audience. Give it a try and witness how A.I. can help elevate your professional image!

As always, we're here to support your journey in the constantly evolving accounting world. Don't hesitate to hit 'reply' with any questions or topics you'd like us to cover in the future.

Look out for more insights in our next edition!

Best,

NextGen Team