Accountant of the Month: Brian Wendroff
This month we had a chance to catch up with Brian Wendroff, a managing partner at Wendroff & Associates. Despite what is a tough economy for many firms, Wendroff & Associates, a fast-growing Washington, D.C accounting firm, has expanded its practice by delivering exceptional service, focusing on end results for its clients, and building a vibrant referral network.
Founded in 2004, Wendroff & Associates provides full service accounting and business consulting services. They’ve built their practice around QuickBooks Online as its anywhere access helps them save time and money for themselves and their clients. I caught up with Brian last week to better understand their practice and attempt to glean some secrets behind their success.
How did you decide to become a CPA?
I grew up in an entrepreneurial family, and I even remember selling baseball cards and candy bars in elementary school to make extra money. When I was in the Army, working in the Pentagon, I started a local vending machine business in my free time. After leaving the military, I pursued a degree in accounting because I liked the idea of working with all types of businesses and understanding the internal systems of how they generate revenue. I thought the profession was the right direction for me.
Why do you and your clients use QuickBooks Online?
We love how QuickBooks Online allows our firm to seamlessly access our clients’ information from any online connection. This allows our accountants to troubleshoot our clients’ accounting issues quickly and efficiently to save them time and money and provide better CFO consulting. And by being more efficient, it allows our firm to focus on other areas such as client response times and developing better growth strategies for our clients. Our clients love QuickBooks Online because it doesn’t tie them down to one computer, so when they travel, they can still easily monitor their business’ financials, and they’re able to delegate accounting responsibilities within their own company more effectively.
Do you have a favorite feature in QuickBooks Online?
We love the ability to schedule reports, which is unique to QuickBooks Online. I personally schedule our A/R Aging report twice a month, which we’ve customized with contact info to keep our A/R efficient and improve cash flow. We do the same for our balance sheet, P&L, and time tracking budget reports. Our non-profit clients also use this feature to schedule and email reports, as some have board members all over the country who need these financial reports and QuickBooks Online makes this process so efficient.
How has the economy impacted your business?
Wendroff & Associates has actually tripled in size in the past year. I feel we made excellent investments in our internal technology and systems, which has allowed us to give better customer support to our clients. We decided at the end of last year that tax preparation would just be the beginning of what we do. Consulting with organizations to help them grow and reach the next level would be our core service. QuickBooks Online has of course helped with this, as smart businesses used this down period to make their own systems more efficient and effective. We’ve been reviewing our internal systems in the third quarter, and we found that almost every single one of our clients has grown their businesses during the recession.
What is the biggest challenge facing your practice?
Definitely being able to manage growth while continuing to improve our overall service. We’ve seen a big influx of new clients through referrals, and we’ve been very vigilant not to let our company grow beyond our ability to provide excellent customer service. We want to focus on internal development and even client development to ensure we are creating a company culture that always strives to understand the best ways to help entrepreneurs grow their organizations.
What sets you and your firm apart from other accountants?
My partner and I were talking about this very subject today. Accounting services are just the beginning of what we do at Wendroff & Associates, we’re entrepreneurs also and our focus is on creating the best systems to help entrepreneurs grow their businesses. Our firm has more than 100 years accounting experience, so we know we excel at the nuts and bolts, but we feel the extra step is excellent customer service, fast response times and exceptional consulting, whether that be setting up systems or putting our clients in touch with the right networks to grow. That is what the big four firms such as Deloitte do, and there’s no reason why a boutique firm cannot provide the same level of service. I’ve heard other CPA firms say accounting is a commodity, and I totally disagree. Commodities are based on price, not on quality, and our CPA’s strive to provide the highest quality service and advice. Tax Compliance is a given, so our mission is to see how can we take it to the next level and help our clients grow their business. CPA’s are a business’ most trusted advisor, and we take that responsibility to the upmost importance.
About Me: I am on the QuickBooks Online product marketing team and like to drink good coffee, go running, and play guitar.Explore posts in the same categories: accountant of the month