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    Home Unlabelled Accounting Today I close down our corporate AMEX, everything reconciled to the penny and nobody in real life can appreciate my accomplishment.

    Accounting Today I close down our corporate AMEX, everything reconciled to the penny and nobody in real life can appreciate my accomplishment.

    December 31, 2019

    Accounting Today I close down our corporate AMEX, everything reconciled to the penny and nobody in real life can appreciate my accomplishment.

    Today I close down our corporate AMEX, everything reconciled to the penny and nobody in real life can appreciate my accomplishment.

    Posted: 31 Dec 2019 06:40 AM PST

    I wanted to share an accomplishment that nobody in real life will appreciate.

    I started working at a small company about 3 years ago and inherited a corporate AMEX process that was decent but not great. Our payments never matched what we were syncing from expensify and the previous person didn't know why. I made it my mission to build the best god damn reconciliation. I had to back-fill previous 2 years worth of data and download all GL activity and reconcile each month. I found all of the missing activity as well as duplicated charges and corrected them.

    Eventually I built it out so that it was almost entirely automated, all I had to do was download the GL data and AMEX activity and my excel formulas would show me any differences and my total to date activity would always agree to the GL.

    We have been slowly transitioning off of these cards the last few months and this month is the absolute last month of activity. I received the last statement to confirm the $0 balance and the credit card balance sheet account agrees without any adjusting entries. During the life of the AMEX program we had over 45,000 transactions, 37 card holders and almost $10M in activity. #FeelsGoodMan

    As far as what I do at work it's not the most important or exciting activity but god damn did it feel good to close that shit out. Thanks for listening to me because I don't want to bore any of my friends to death at my new years eve party.

    submitted by /u/VistaWista
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    Me everyday

    Posted: 31 Dec 2019 12:54 PM PST

    Reflections on what I've learned as a B4 Partner and a current college professor

    Posted: 31 Dec 2019 10:00 AM PST

    As I note, I am a former B4 Advisory partner, got my PhD in my mid-40s and have been a college prof since 2008 at a brand name school. I primarily teach accounting analytics at the masters level now. Sitting here on 12/31, I thought I would share some things that I discovered over my 35+ year career.

    ​

    1. In both careers, I first started out by thinking that the technical aspects were the most important things to know but have come to realize that the people are. If people around you genuinely believe that you want the best for them, they will allow you the honor to join them on their journey and support them.
    2. I know much much less than I thought I knew. I am of distinctly average in my intelligence and am okay with that. At several points in my career, I thought I knew a lot. Now, I realize that I only knew a tiny tiny bit of what was available to know.
    3. I needed to constantly reinvent myself and the most successful people are the one who love doing it rather than resist doing it.
    4. I spent an unimaginable amount of hours and sleepless nights thinking about the mistakes that I made but have discovered that most people easily forgive honest mistakes but they will never forgive someone who hides their mistake or who attempts to cheat or throw them under the bus.
    5. Clients have the same hopes, fears and goals that I had. Once I realized that, it changed all of my relationships from trying to extract maximum revenue to creating a true partnership (and not the bullshit kind).
    6. Virtually every one going into public accounting harbors serious doubts about their ability to be successful. I have seen this with new hires as well as virtually every student that I've ever met. Astonishingly to me, each person thinks that they are the only one who feels that way.
    7. Grit always trumps intelligence. Making partner and getting a PhD are an exercise in not giving up rather than a real test of skills.
    8. I was a great manager but a lousy partner. I thrived in selling work and mentoring staff but was dismal at managing a business (like a partner needs to). Said differently, I was the embodiment of the Peter Principle. But, I took the promotion because it seemed like the right things to do. Yes, it opened up a ton of doors and nicely fattened my bank account but it also caused me to eventually leave.
    9. Being a partner was great but being a college professor is even better (although the money is definitely not as good). Think about everything that you liked about college and then subtract homework, quizzes, exams, projects and then add salary.
    10. People need to know that they are cared for, loved and respected. Most people have an emotional deficit of these things and it costs nothing to let someone know that you care for them (in a business appropriate context).
    submitted by /u/FormerPartnerPhD
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    HNY everyone, live it up tonight!

    Posted: 31 Dec 2019 05:52 PM PST

    Fired Right Before Christmas Eve

    Posted: 31 Dec 2019 10:29 AM PST

    I was terminated without notice. Partner called me into the office saying they terminated me because of my performance. I was never put on a PIP or anything. This was bullshit because the partner I worked closely with said I was a high performer and was going to be very successful at the firm. Everyone on the team really liked me. I was branded as team player. After I signed the papers the partner escorted me to my desk to make sure I wasn't stealing anything.

    I was never given a chance to defend myself. He presented me with a pen and my separation papers and I was to sign.

    This happened the same day I had to put my dog down that morning. I was late to work, I sent an email to the senior manager explaining the situation and I said I would come to work at noon. So I walk in at noon trying to get my head down and my work. Senior manager strolls in says sorry about your dog and talks business; wants to set up a meeting. I politely ask if I can just have a quiet day today because I'm grieving and manager forces me to put a meeting on the calendar. I said the "F" word. That's what did it.

    When I signed the separation papers, I was numb and didn't give a "F". I killed my best friend of 11 years. "F" this firm. I told myself.

    On the way out, I saw the partner that said I was a high performer. He had no idea what was going on. He wished me Happy Holidays! I held out my hand to shake his. He looked at me puzzled and I said, "It was nice knowing you." He asked me what was going on. I told him, "I got fired!". He looked shocked. I asked him if I can get a reference he said sure and said good luck!

    I shot myself in the foot by saying the "F" word. I know my behavior is no excuse but damn I was hurting and losing my job right before Christmas was icing on the cake. I didn't shed a tear though was dignified and professional throughout the whole ordeal.

    Thanks for reading this far and letting me vent.

    submitted by /u/AmyWhino1986
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    $15 per hour for an experienced CPA. That's it. That's the joke.

    Posted: 31 Dec 2019 12:06 AM PST

    Me ignoring emails over holiday break knowing that I'm putting in my 2 weeks

    Posted: 31 Dec 2019 08:54 PM PST

    Blowing up a spreadsheet and accidentally clicking save when you close it

    Posted: 31 Dec 2019 11:47 AM PST

    Tax busy season rules

    Posted: 31 Dec 2019 08:56 PM PST

    First year senior associate reporting in from top 10 firm. Almost 3 years experience. I just came back from a stupid stint in industry to my old firm.

    Here are my top 10.

    1. Fuck em'
    2. See #1
    3. The budget is what you work, but be efficient and ask questions.
    4. Ask relevant questions.
    5. Listen to constructive criticism, but learn to tune out the noise and picky bullshit.
    6. Go to happy hours, no exception. These are good team working events.
    7. Don't be a try hard. These fuckers ruin busy season. Most people dont make manager after 3-4 years and most who try usually burn out and leave.
    8. Dont be an asshole. People make mistakes.
    9. Dont be creepy. Learn basical social cues.
    10. Work the hours asked and maybe a bit more. If you're doubling the budget it's time to ask questions, but see # 3 for most of all.

    I'm sure assurance is even more toxic, but these rules hold true for that as well mostly.

    Edit: I've doubled and tripled the budget on a lot of clients in my past busy seasons, but new clients, messy clients, and poorly managed clients happen. This should not be the rule of thumb, and even in your first season you should hit target on at least a handful of your engagements. Feel free to ask questions.

    submitted by /u/BernadilloJune
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    Career/job goals for 2020

    Posted: 31 Dec 2019 03:14 PM PST

    What are your career/job goals for 2020? Move up within company? Out of company? Not happy so looking for lateral? Or just hanging on?

    I just took a "promotion" in my company. I say promotion in quotes because I was doing the work of a Senior Accountant but my title was something else. That got changed due to the company being acquired. Will be getting a raise, but the boss boss hasn't approved it yet to $85k + bonus.

    submitted by /u/havenotakahlua
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    Submitted my application to the Board today!

    Posted: 31 Dec 2019 05:40 PM PST

    Posting here because I'm very excited and want to share with people who understand. 😁👍🎉

    ETA: Getting licensed in WA.

    submitted by /u/MindlessCheesecake
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    WHICH JOB TO TAKE: REVENUE ANALYST OR SENIOR ACCOUNTANT?

    Posted: 31 Dec 2019 07:01 PM PST

    After 3 years, I left public accounting (got my CPA). My 3 years in public is my only relevant work experience at this point. I now have to choose between the following two private sector offers: (a) Revenue Analyst – Position is at a large publicly traded company. I am told the person in this job is to be groomed for a Senior Revenue Analyst role. Responsibilities will include reviewing/analyzing legal agreements for revenue recognition to ensure GAAP/SEC compliance. (b) Senior Accountant – Position is at a large locally based firm (basically on the client side of the work I was previously doing as an auditor). This position would provide me G/L experience and month-end close experience which I currently lack. – Which of these positions should I take and why? – What might the long-term career tracks be for each? Thanks guys

    submitted by /u/I-be-your-master
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    Anyone opt to be an audit managing director instead of partner?

    Posted: 31 Dec 2019 04:06 PM PST

    I've been doing some thinking on where I want my career to go and I am wondering if anyone has opted to become a managing director over partner? I like public accounting enough to do it for my career (variety, PTO, etc.); however, I do not really want to become a partner for a variety of reasons.

    There are no audit managing directors in my office, so I don't even know what this process would look like. Mostly just wondering at this point.

    submitted by /u/Idahomi3
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    When you’re about to begin studying for the CPA exam, is it normal to feel like you’re learning this stuff from scratch with barely any pre-existing knowledge?

    Posted: 31 Dec 2019 02:13 PM PST

    At this point in my life, I feel that if I were to take an exam from one of my intermediate accounting classes, I would score below a 10% or something. I've always been someone to completely dump information from my head once I'm done with an exam/course and so I was just wondering if it's normal to feel like you're going into CPA studying cold, and if it's still possible to learn so much and pass the exam.

    submitted by /u/whodathunkit3r
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    Great Plains - customer payment applied to close invoice but inquiry still shows invoice and payment as open

    Posted: 31 Dec 2019 08:13 PM PST

    On the payables side, payment applied to bills marks the bill and payment as historical; however, on the receivables side, payments applied to invoices still show both as open even though the amount is fully applied. How can this be fixed?

    submitted by /u/pilot_pen01
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    Giving the controller a work paper like

    Posted: 31 Dec 2019 06:42 AM PST

    What are some study tips to get through intermediate accounting?

    Posted: 31 Dec 2019 03:43 PM PST

    I am having a hard time reading through the textbook, but I heard the most successful advice is reading the chapters before lecture and doing the problems repeatedly?

    submitted by /u/Mfinge23
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    27 pay period year

    Posted: 31 Dec 2019 05:08 PM PST

    Anyone paid on Thursdays (starting Jan 2) will have 27 pay periods in 2020. Curious how other companies are handling this for salaried employees. Are you dividing their salary by 27 or keeping it at 26?

    submitted by /u/krougle23
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    Big4 Event “neat casual”

    Posted: 31 Dec 2019 04:39 PM PST

    I'm going to a KPMG event in a couple days and the dress code is "neat casual" and it specifies jeans in the invitation. They said this isn't an interview but could lead to an early offer and there is a networking event after the programming for the day. What exactly is "neat casual" for a girl? It's gonna be in the 50s and rainy.

    submitted by /u/kbn1234
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    Today is the day we audit the most.

    Posted: 31 Dec 2019 05:59 AM PST

    Enjoy some time off if you have it.

    submitted by /u/countmytits
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    Grant Thornton pay date?

    Posted: 31 Dec 2019 03:43 PM PST

    anyone else work at GT? waiting on my paycheck to deposit into my bank account. checked the payroll calendar and today is supposed to be it. ive already been reimbursed for expenses so i know they have my bank deets on file....

    submitted by /u/ecommercenewb
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    Is it mostly attorneys with tax LLM degrees working for International/M&A?

    Posted: 31 Dec 2019 09:12 PM PST

    I hear they mostly hire from law schools and the top few tax LLM programs but I'd rather not spend that much money on law school on top of an LLM. I heard CPAs with MSTs also work alongside them but I'm not sure what the ratio is. Are CPAs at a disadvantage compared to the attorneys?

    submitted by /u/thesushipanda
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    California - how long did it take from when you sent your $60 initial license fee to being given a license number?

    Posted: 31 Dec 2019 05:24 PM PST

    I'm guessing a while, but the board received my check 12/23 and wondering how long to expect :) it only took a few days from sending in my last requirement (experience form) to get the letter that I met all requirements for the license.

    submitted by /u/apc2242
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    Graduating as an accountant major concern

    Posted: 31 Dec 2019 01:31 PM PST

    As I approach graduation as an accounting major, I am concern about going into the field because I feel unprepared. This is making me nervous about entering the real world.

    submitted by /u/2783794
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