The orange, and widely loved Dext (Previously Receipt Bank) has had an interesting run.

Widely regarded as the best technical product for receipt automation, it's been a different couple of years for this fast paced start-up!
Dext Chief Revenue Officer Alistair Newman says they're bigger, and better and have new ways to build relationships with you their customer. 
But the accounting community has a lot of questions, and we are lucky to sit down and get some real answers from Al himself when he was down under in Australia last month. 

In this episode we discuss the rebrand to Dext, the widely discussed pricing changes, the acquisitions and where the company is headed next. 
We give a hearty Trenches congratulations to Al for this interview. 
He sat there and took the direct elephant in the room questions like an absolute pro. 
Well done mate, as a community we really appreciate it. 
________________________________________________________________
Dext are proud sponsors of From The Trenches - Trenches Summit 2.0
Check out the Dext's Keynote at Trenches Summit 2.0  
The Australian Accounting Tech Report: Solving the time/tech conundrum. A talk by David Boyar, Glenn Castle, Michael Johnson and Cassandra Scott
Register Here https://summit.fromthetrenches.com.au/talks/dext-keynote/ 
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8. The Dext Generation | Interview with Dext CRO, Alistair Newman

In the age of FAKE NEWS, brave souls are needed to fight through the noise and give accountants in practice the support and information they deserve. 



David Boyar and Paul Meissner share a passion for the role Accountants play in the Australian economy. As the engine room of the economy, small - medium businesses rely on their accountant for technical knowledge, business acumen and professional (and often personal) support. As the way accountants work (through technology) and service (through new services like Virtual CFOs) changes, we have to ask If accountants are helping their client’s, who is helping Accountants? 



If you read the Accounting Industry news and listen to the industry leaders then the Accounting industry is at war. It’s a war against technology, the ATO and even UBER (apparently). The problem is that most of the leaders have never worked in practice. They are subject matter experts but can't offer the perspective of someone who had to actually have conversations with clients about implementing technology, actually moved to value pricing, actually compared technology features and how an entire team may be impacted by them. 



Each week in this podcast, 2 plucky Chartered Accountants will bring you the real stories ‘from the trenches’. This no holes barred, feisty, yet humorous take on the Accounting landscape will be entertaining while sending a message to the scaremongers, that the FAKE NEWS must end. By following a simple podcast formula, David and Paul will deliver rapid value straight to your earphones. With segments like ‘best and worst of the week’, ‘Fake News exposed’ and a the rapid format ‘5 questions in 5 minutes’ special guest interviews, what more could you want. This podcast won’t be for the faint hearted.



https://www.fromthetrenches.com.au/

Business News

Business

News

As Statler said to Waldorf, the witty old blokes in the VIP box on the Muppet show;
“There’s a lot to be said about this program.”
To which Waldorf quipped back;
“Too bad you can’t say it on a family show!” The bothed harrumphed and probably cut to a clip of Kermit trying to get animal ready for his next scene.
And in the spirit of that nostalgia Trenches starts it's 8th year.
Paul and David say a huge THANK YOU for investing some of your time listening to us.
Because of you we are earn the meaningless perk of being ranked in the top 20% most listened to podcast on earth.
Not bad for a show about real life in the accounting industry.
Best on Ground
David
CAANZs budget submission covers everything - but will Canberra listen? - CAs influence has to be at a weak point  https://www.charteredaccountantsanz.com/news-and-analysis/advocacy/policy-submissions/pre-budget-submission-2023-24 
Karbons payments product was bigger than expected https://karbonhq.com/feature/billing-and-payments/ 
Fox Sports - Stick to highlights of the 2016 and 2023 Grand Finals, leave the balance sheets to us https://www.linkedin.com/feed/update/urn:li:activity:7163833930805096449/ 
 
Paul 
Paul hit the ChangeGPS National tour to see the launch of Protect - David calls it the biggest innovation in accounting in a decade  https://changegps.com.au/apps/protect 
DECLARATION OF INDEPENDENCE - David did not ask Paul to cover this, in fact David has begged Paul to talk about ChangeGPS in the past and he has said no. The comments in the show are 100000% because Paul chose to share them. 
MYOB lampoons instant invoicing in the best way https://www.youtube.com/watch?v=RVzPKz_Uz2M 



Worst on Ground
Paul
Flexible Hours will suffer thanks to the right to switch off https://www.afr.com/work-and-careers/workplace/business-fights-back-against-right-to-disconnect-from-work-20231220-p5esol#:~:text=%E2%80%9CA%20legislated%20right%20to%20disconnect,are%20unreasonable%2C%E2%80%9D%20she%20said. 
Agent Linking- David completely misunderstood the issue but Paul was in the room when it was workshopped….what actually happened is worse.
Ethics and the insane tokens accountants need to jump through as CA clings to a belief it can regulate the profession. Pledges, dobbing in peers increased ethics training. 
David
Media reports of 150 ATO agents linked to tik tok GST fraud is good ol fashioned clickbait See omnystudio.com/listener for privacy information.

1. Can CA regulate the profession? | MYOB's ripper new add | The biggest innovation in 10 years

My Father was a public practitioner for 40 years and my family lost him this year. 
One day, everyone of your families will be in this position. This episode, might be important to them. At some point in your life, it might be important for you. 
The first 8.5 minutes of this episode I talk about Dad. He came to Australia with very little, was brought up through welfare homes and then together with my mum raised my sister and I, while building an accounting practice that sustained my family through millions of happy moments. If it is too heavy for you, I understand, sharing this is an indulgence for me, you can skip it if you want to. 
If you skip it, you need to know this bit. 
Regular listeners would knowhow influential Dad was on my career and values. He is the reason I understand what you do so well. And why I realised I was better placed to help you rather than small business clients. 
Paul and I then talk through the first two weeks, the transition to get Paul control to service clients, and how he navigated the day to day while managing his practice and his family. 
Finally we talk through the sale process and what it means for for my family
While dealing with the grief, Paul stepped in as director and ran the day today while I worked through a sale process.
Not every family has a Paul or a son like me, our knowledge of the industry helped. 
And not everyone has a friend like Paul, who stepped up the way the very best of friends do, when you are at your lowest. 
I hope when reading this  line, you appreciate my lesson here.
I develop, sell and support accounting technology for a living, so it is with honesty that I say:-
The tech you use doesn't matter. 
All that matters. Is your health, and your relationship with your clients.
Yes, you're all that matters.
 
 
______________________
 
Cultural Note
Z"L is an English rendering of a common Hebrew posthumous honorific.
ז״ל‎ (Z"L) is the acronym of זיכרונו לברכה‎ (zikhronó liv'rakhá, literally “may his memory be a blessing”. - wikipedia.
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3. Joseph Boyar Z"L

This show was recorded in mid February but thanks to Dave being busy getting the ChangeGPS new TaxPlan Advanced product ready we had a delay getting it out. Oh how we long for the days 6 years ago when we'd record and publish in a 2 minute workflow. 
 
Before we begin.....To The Xero's...https://www.linkedin.com/feed/update/urn:li:activity:7039489285565161472/ 
Best
A very simple explanation about why we don’t know what to do in the current Australian Economy
Australians head for their first endogenous shock in 30 years - MacroBusiness
 
Tips for Xero Roadshow for exhibitors and why we need an active ecosystem
Xero Roadshow Playbook | App Partner Edition (letsjourney.com.au)
 
Worst
Dext are determined to reinvent an accounting role Pre-Accounting: Why Small Businesses Can’t Ignore It - Dext Blog
Death of the Accountants Exemption Michelle Levy advice review: Labor to ‘stress-test’ plan to overhaul financial advice (afr.com)
 
Xero State of the Union Report Take Aways
Dave

Surprised how popular mergers are in shifts in practice structure is
40% of practices offer employee benefits 40% dev and training, 33% track employee wellbeing, if you aren't happy leave….we don’t need to constantly berate the business model of accounting firms, enough firms are progressive to give staff choice and it's the laggards loss. 
Only 19% are home office only, that convo is dead, move on

 Paul

Bookkeepers don’t equal accountants in any sense of practice but the report, like so many other strip both of their individual identities and can get the conclusion wrong
More services doesn’t mean more service
Surveys are always an issue

 
Dave's not so new Trench
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2. Death of Accountants Exemption | Economic Own Goals | Xero's state of the union

While the entire world changes in response to war, inflation, the Covid Era work habits that are sticking round and Jim Chalmers attempt to alter the course of capitalism, our pertinacious host Paul Meissner proudly declares that TECH WILL NOT CHANGE (even though he knows ChangeGPS will drop 3 new products this year)! 

Before we dive in, a huge thank you to our episode sponsors 'Access Offshoring'. Are you struggling to find quality staff in your firm? 

Speak to the team at Access Offshoring. They specialise in finding quality talent in the Phillipines, trained on Australian tax law. They can help you improve your margins, unlock your capacity and get your firm back on track. 



Tax will Change
Blue collar workers won't get the same ATO treatment as white collars
The year of the micro business as COSBOA gets the chance to stop pandering to unions 
The year of return to employment for failing micro businesses 
Conference Schedule overload 
Post Conference marketing to accountants to be .... reduced? NAH!
The voice of accountants gets organised to have impact for small business and themselves
Professional bodies make an effort to improve, hopefully 
There has to be a growth in offshoring 
Conference Content maintains its repetition 
Accountants look after themselves!!

This show is proudly sponsored by Access Offshoring and ChangeGPS See omnystudio.com/listener for privacy information.

1. What are going to see in '23?

We are brought to you by ChangeGPS LIVE FROM BRISBANE https://www.eventbrite.com.au/e/changegps-live-from-brisbane-tickets-460588100407 
Best on Ground
Trenches Award Finalists https://awards.fromthetrenches.com.au/  GET YOUR TICKETS NOW and enjoy some early bird pricing 
Could the real CAANZ Members please stand up? YES!!!!!
https://www.linkedin.com/feed/update/urn:li:activity:6995548683614253056/ 
Work from Home For Ever is done 
https://twitter.com/ShaanVP/status/1588589924072443904 
Sensationalist Click Bait our way https://www.bloomberg.com/opinion/articles/2022-11-01/the-accountant-shortage-threatens-capitalism-s-future 
Conor Clune published a paper on the governance of professional accounting bodies and he's coming on trenches https://www.emerald.com/insight/content/doi/10.1108/AAAJ-08-2020-4756/full/html 
Xero small business insights is finally getting the recognition it deserves https://www.linkedin.com/posts/louise-southall-2038b6157_policymaking-at-the-reserve-bank-speeches-activity-6988004559528861697-0YO0/?utm_source=share&utm;_medium=member_android 
Great engagement from Tax Institute to a member concern https://twitter.com/austaxter/status/1582505298010382337 
RIP Simple Fund Desktop https://www.bglcorp.com/2022/09/19/simple-fund-desktop-end-of-product-life-date-set/?utm_medium=email&utm;_source=rasa_io&utm;_campaign=newsletter 
Worst on Ground
Early proof quality of work is declining due to staff shortage crisis https://www.afr.com/companies/professional-services/deloitte-calls-crisis-meeting-blames-staff-turnover-for-poor-audit-results-20221025-p5bsn8 




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8. The Dext Generation | Interview with Dext CRO, Alistair Newman

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