Lean Accounting for CPAs

In this workshop we’ll focus on using a tool that you already have to pull together working paper files for compilations and tax engagements.

These days most of us have heard of the ‘minimum viable product’.

I pilfered Eric Ries’ terminology and “re-purposed” it to refer to the kind of simple, manual working paper files that Caseware modeled their system on in the late 1980s. I did my best to strip down the features and modeled them in Microsoft’s Excel spreadsheet to develop theBOOKS.


The Lean Startup
Eric Ries’ popular self-help book for startups

Of course a lot has changed since the 1980s, which means that our MINIMUM VIABLE PRODUCT is actually much more efficient than it used to be before the days of online banking and powerful spreadsheets.

Bookkeepers working after-the-fact today don’t need to gather collections of bank statements and canceled cheques – and then individually record them into a columnar journal. Today they can download a year’s worth of transactions at a time, and then simply categorize them.

We’ll show you how to pull together the equivalent of a columnar journal, using lookup tables and other techniques to summarize and even convert from a foreign currency into Canadian dollars.

Synoptic Journal
an ‘old-fashioned Synoptic Journal’ with multiple columns reproduced in a spreadsheet

theBOOKS will allow you to efficiently write up a year’s worth of bank transactions in Excel, or post a trial balance from an online accounting package.

We’ll even go over how to import a year’s worth of transactions into the Wave™ Accounting ledger, in order to get an opening trial for use with the working paper software.