With an estimated three out of four current CPAs predicted to be retired within the next fifteen years, there is a concerning dearth of new certified public accountants entering the field. The latest AICPA Trends Report revealed that accounting graduates in 2019-2020 decreased by nearly 10%, with fewer than half making their way toward sitting for their CPA exam. Public Accounting firms have responded to this shortage by transitioning toward hiring nonaccounting college students -nearly one-third total number per firm! Despite these numbers seeming daunting, other CPAs view it as a great opportunity open up pathways into accounting positions and prepare them beneath experienced professionals before retirement vacancies arise.
There are things you can do right now to help your team build efficiencies and automate repetitive tasks. Our customers love that they have reporting and centralized data at their fingertips. They are no longer micromanaging tasks and employees. Budgets are met, tasks are tracked and they now have more time to focus on higher-level tasks, like advising their clients. What's better that
Check out our dashboard "My Workspace"
In closing, if you are looking to do any of these things listed below, you need to see the power of PracticeERP.
When you put these tips into practice, you'll be well on your way to managing your CPA firm more effectively! Schedule a meeting with us and we can discuss options further.