october2021 - 12

FROM THE TRENCHES
RANDY JOHNSTON
EVP & Partner
K2 Enterprises &
CEO of Network Management Group, Inc.
randy.johnston@cpapracticeadvisor.com
@RPJohnston
CLIENT EXPERIENCE FOR TODAY
LEVERAGING PAYROLL
SOFTWARE MAKERS ARE trying hard to make a difference. The accelerated change noticeable
in the last two years in accounting software, accounts payable, payment systems,
human resources, and payroll is astonishing. The same is true for practice management
and trial balance software, too. As this year completes and the conference season heats
up, I'm anxious to see the new developments in document management, workflow, tax,
and audit software. But that will be a topic for a different day.
The temptation was great to
write about the advances in Cloud
Accounting. Following the theme
of this month's publication with
products like AccountantsWorld
Accounting Power, AccountingSuite,
Acumatica, Dynamics 365, Intuit
QuickBooks Online, NetSuite, Sage
Intacct, simPro, Spire Systems, Xero,
Zoho Books, and others would have
been easy. Our weekly podcast, The
Technology Lab, should cover these
cloud accounting products for the
moment.
This year provided an opportunity
to review over 50 payroll, PEO
(professional employer organization),
and HR (human resources)
products for our K2 courses on
accounting software, add-ons, and
reporting tools. Fantastic progress
has been made, and to quote an old
advertisement, payroll " is not your
grandfather's Cadillac " anymore.
SO, WHY PAYROLL?
Simply put, most of us get paid to
work. If you are lucky enough to create
jobs or have a job, you wind up
with a check once or twice a month,
12 OCTOBER 2021 ■ www.CPAPracticeAdvisor.com
whether a draw or paycheck. Our
pay is a measurement of the value
we put into businesses. It is the
great bargain some of us can make,
trading our daily lives to accomplish
goals. Peter Vessenes, in his book
Bumper
to Bumper: Building Your
Multimillion-Dollar Business, explains
this quite clearly. Bumper to Bumper is
one of my top recommended books
of the year in addition to WorkQuake
by Steve Cadigan. Both can help you
see the future of business and work
in this decade including the evolving
culture of employees. In addition,
both books can provide insights
into the Great Retirement and Great
Resignation that we see in many
accounting firms and companies.
In effect, our paychecks represent
Capitalism at a very personal
level. To quote Peter Vessenes,
" Capitalism is an exchange of goods or
services wherein all parties in the trade
believe that the value received is equal to
or greater than the value offered. In the
simplest form, Capitalism is nothing
more than a barter. Each party
believes they received something
that was worth more to them than
what they offered. The key word in
this statement is believe. Very successful
capitalists are very effective
in persuading their trading partners
to hold a high value of their goods
and services. "
Payroll systems allow companies
to pay their employees conveniently.
Whether the payroll is run as a selfserve
DIY operation or completely
http://www.CPAPracticeAdvisor.com
october2021

Table of Contents for the Digital Edition of october2021
