The Startups Seeking to Dethrone QuickBooks

Blake and David dig into reports from the Illinois CPA Society and National Pipeline Advisory Group highlighting issues like long work hours, the 150-hour rule, and low starting salaries. They examine the potential disruption of traditional accounting software by startups and vertical SaaS companies offering embedded accounting functionality and review some of the CPA Practice Advisor Readers' Choice Awards. Wrapping things up, they highlight the health risks of long working hours, and discuss the need for better work-life balance in accounting firms, based on a recent WHO report.SponsorsOnPay - http://accountingpodcast.promo/onpay Cloud Accountant Staffing - http://accountingpodcast.promo/casKeeper - http://accountingpodcast.promo/keeperBlue Onion - http://accountingpodcast.promo/blueonionChapters(01:44) - Does QuickBooks have some new competition? (06:42) - Layer wants to be a GL service (09:45) - Lili's place in the marketspace (13:03) - The role of accountants in software success (14:57) - CPA Practice Advisor's 2024 Reader Choice Awards (17:22) - Illinois CPA Society survey results (24:00) - WHO publishes estimates on health costs from working long hours (28:31) - The long-awaited NPAG Impact Report was released! (30:39) - Identifying pipeline problems (32:34) - Reasons students don't choose accounting majors (45:55) - Final points from report (48:02) - Blake's theory on why accounting starting salaries are low (54:46) - Thanks for listening and remember to subscribe  Show NotesTeal Announces $8M Seed Investment to Drive Next-Gen Accounting Products for Vertical SaaShttps://www.businesswire.com/news/home/20240520567117/en/Teal-Announces-8M-Seed-Investment-to-Drive-Next-Gen-Accounting-Products-for-Vertical-SaaSEmbedded accounting startup Layer secures $2.3M toward goal of replacing QuickBookshttps://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/?guccounter=1Illinois CPA Society Releases Updated CPA Pipeline Reporthttps://www.icpas.org/about-us/press/press-release-details/2024/05/16/illinois-cpa-society-releases-updated-cpa-pipeline-reportNational Pipeline Advisory Group releases draft strategy reporthttps://www.accountingpipeline.org/draft-report/Embedded accounting startup Layer secures $2.3M toward goal of replacing Quickbooks | TechCrunch                https://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/ The Best Tech for Accounting Firms: CPAs Voted for Readers Choice Tech Awards        https://www.cpapracticeadvisor.com/2024/05/15/2024-cpa-practice-advisor-readers-choice-award-winners-announced/105089/ Lili Launches New Accountant AI for Small Business Financial Management   https://www.cpapracticeadvisor.com/2024/05/16/lili-launches-new-accountant-ai-for-small-business-financial-management/105520/ Embedded accounting startup Layer secures $2.3M toward goal of replacing QuickBooks     https://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/ Kabbage Inc. Settles Allegations of PPP Fraud        https://smallbiztrends.com/?p=1487492 US accounting group bows to calls for faster path for recruitshttps://www.ft.com/content/b6562303-cfda-4c6e-bb7b-8fe6e092bb01 National Pipeline Advisory Group releases draft strategy report - National Pipeline Advisory Group   https://www.accountingpipeline.org/draft-report/ Bench and Shopify alumni announce $11M CAD to build “the Stripe for accounting” with Teal - BetaKit                https://betakit.com/bench-and-shopify-alumni-announce-11-million-cad-to-build-the-stripe-for-accounting-with-teal/ Embedded accounting startup Teal raises $8M seed          https://www.axios.com/pro/fintech-deals/2024/05/20/embedded-accounting-teal-8-million-seed The Indicator from Planet Money : NPRhttps://www.npr.org/2024/05/17/1197964709/trade-wars-and-talent-shortages Canadian fintech Teal raises $8M to build ‘Stripe for accounting’               https://techfundingnews.com/canadian-fintech-teal-raises-8m-to-build-stripe-for-accounting/ Kabbage to pay $120M in PPP fraud settlements with DOJhttps://www.bankingdive.com/news/kabbage-pay-120-million-ppp-fraud-doj-small-business-loan-pandemic/716053/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or