From The Trenches

Listen to David and Paul as they interview Joseph Healy from Judo Bank, LIVE at the SOFY Party, as they discuss about the banking industry, the economy and Judo Bank.

The cover:

• Bank controversies and where banks have missed out the needs of the small and medium sized businesses
• How major banks are so focused on their profit maximisation and have made a huge mistake when they lost sight of their social license. 
• The uniqueness of Judo Bank where the major banks have fallen off
• One of Joseph's major regrets in agreeing to outsource financial analysis to India at NAB where it dropped banks costs to 30% but also reduced the quality as well.
• Judo Bank's first actual operating day and how they compete with the big major banks.

Finally, Joseph responds to some crowd queries regarding the banking industry.

About Us

From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

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Best on Ground

• Get clients who rave about you like Gabi Leibowitz. Post 200m sale https://www.linkedin.com/feed/update/urn:li:activity:6550704110189010944/
• Fan fashion
• Paul’s webinar with BGL. The Modern Compliance firm: https://www.bglcorp.com/event/the-modern-compliance-advisory-firm/
• If H&R Block can go paperless, why can’t you https://www.accountantsdaily.com.au/business/13227-h-r-block-cuts-out-paper-ahead-of-tax-time-2019 

Worst on Ground

• Accountants boasting about revenue.
• The economy
• Labour party changing the name of a tax bill is the height of pettiness. https://www.linkedin.com/feed/update/urn:li:activity:6551990734134882304

In Depth:

David and Paul reflect on their 2018 resolutions and share their predictions for the year to come. 

About Us

From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant. 

See omnystudio.com/listener for privacy information.

Best on Ground

• 11% of AU houses are un-occupied - https://www.businessinsider.com.au/solved-the-mystery-of-australias-1-million-empty-homes-on-census-night-2017-7
• My Swedish Robot story - This is the future of AI and it’s what most providers miss: https://www.accountingweb.co.uk/tech/tech-pulse/how-self-learning-technology-will-empower-accountants
• We promote the wrong people https://www.linkedin.com/feed/update/urn:li:activity:6549055446299357184/
• Trent Innes is not moving to MYOB https://twitter.com/trentinnes/status/1143751812161273857 

Worst on Ground

• CBA / For Accountants email lists “insert Name”. Worse than CC not Bcc.
• More fear about the rich paying no tax. A data journo mis-interpreting the data: https://www.theage.com.au/money/tax/how-a-millionaire-pays-no-income-tax-20190610-p51w5j.html
• The silent disruption of the accounting industry https://www.benchmarking.com.au/the-silent-disruption-of-the-accounting-industry/
• Automation cuts into profit at firms https://www.afr.com/business/accounting/automation-cuts-into-profit-at-firms-20190518-p51oot
• It started with Paul's website being copied, now accounting firm website plagiarism is rampant. https://www.facebook.com/groups/977122739056681/permalink/1901865956582350/
• Big 4 are Big cheats - KPMG cops a 50m fine for cheating on their oversight boards https://www.accountingtoday.com/news/kpmg-to-pay-50m-for-cheating-on-pcaob-exams
• If a hedge fund doesn't understand how to manage risk, what hope do we have? https://www.afr.com/business/banking-and-finance/hedge-funds/blue-sky-directors-in-shock-at-receivership-20190618-p51yti

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In this week's In Depth, Paul shares a client story that explores the role of the accountant in detecting and preventing fraud.

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David sat down with John Shepherd from the ATO to discuss all thing Single Touch Payroll. 

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Best on Ground

• Talk about down to earth leadership, Trent Innes is leading from the front on the behaviour he wants in his team: https://www.businessinsider.com.au/xero-boss-if-you-dont-wash-your-own-coffee-cup-dont-bother-applying-for-a-job-2019-5
• New apps:
  • Reckon STP App 
  • Aider.AI - Check out David’s interview with the founder Brendan Roberts here: https://www.sequelcfo.com/thefinancialmentor/episode-2.-your-business-has-nothing-in-common-with-gilette
  • Chata.AI

Worst on Ground

• Small Biz wasting their time with IRR laws: https://www.smh.com.au/business/small-business/one-in-a-hundred-success-rate-sparks-small-business-sacking-reform-call-20190527-p51ri1.html
• Paul’s STP enthusiasm
• Sholto’s Death of Bookkeepers tweet. “Existential threat”: https://twitter.com/sholtomac/status/1134257674009292800 

Indepth: QBC Wrap up, Our Top 6 Takeaways

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Coming to you from Quickbooks Connect 2019, David sat down John Dunkerley, Australia Country Manager at Intuit.

The discuss:

• what's next for Quickbooks
• the future of add on app ecosystem 
• app advisory 
• the role of AI in accounting software

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Straight from Quickbooks Connect 2019, David sat down with Cassie Divine, Vice President, QuickBooks Online Platform Leader at Intuit, to talk about the global small business landscape and inspiring female business leaders.

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BREAKING NEWS: Quickbooks Live is coming to Australia. David sat down with Rich Preece, Senior Vice President at Intuit, to ask the elephant in the room questions about a tech company offering bookkeeping and accounting services.

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Best on Ground

• We've got 5 free tickets for Quickbooks Connect, enter here: https://www.fromthetrenches.com.au/qbc2019
• Australian Accounting Awards https://twitter.com/jak_knight/status/1131815074748817408?s=19
• The bank of intuit https://twitter.com/mattpaff/status/1131657258968862720?s=19
• Effective accounting marketing https://m.facebook.com/watch/?v=851256128545958&_rdr
• Great staff Venn Diagram: https://www.linkedin.com/feed/update/urn:li:activity:6527289717006966784

Worst on Ground

• David at Accounting Awards
• Purple bricks: https://www.afr.com/real-estate/residential/purplebricks-to-quit-australia-20190507-p51kzo
• Jamie Oliver
• Jason Andrew’s post on the startup Anki shutting down after raising more than $200 million: https://www.linkedin.com/feed/update/urn:li:activity:6528776576727941120

Indepth: 6 Tips to Manage Deadlines

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