Podcast appearances and mentions of michael ly

Today on the podcast we hear from Michael Ly, CEO of Reconciled accounting services. Michael and I talk about why bookkeeping is so important to your brewery business and how to evaluate outsourcing this key function.Key PointsPricing and process for outsourced bookkeepingCommon pitfalls with brewery bookkeepingSoftware tools to keep the financials running smoothlyFinancial standard operating proceduresResourcesLearn more about outsourcing your brewery bookkeeping with ReconciledGet the FREE brewery financial training newsletter

What happens after the ink dries on an accounting firm acquisition? Michael Ly and Ashley Rhoden reveal why many buyers overinvest in the purchase but underinvest in the crucial integration phase. Drawing from their hard-won experiences—both successful and unsuccessful—they walk through how to develop a comprehensive 100-day integration plan that begins during due diligence. You'll learn why keeping key employees is the difference between retaining and losing clients, how to effectively communicate changes to minimize disruption, and when to choose between a full roll-up versus platform approach. Whether you're considering an acquisition or have one in progress, this practical roadmap helps you navigate the complexities of merging firms.Chapters(00:51) - Meet the Guests: Michael and Ashley (02:41) - Michael's Integration Experiences (07:16) - Ashley's Integration Insights (09:39) - The Importance of Due Diligence (17:49) - Managing Change and Communication (20:47) - Employee Integration Strategies (23:33) - Key Employees and Leadership Buy-In (24:52) - HR and Payroll Integration (26:18) - Communication Plans and Financial Operations (29:30) - Access to Financial Systems and IT Considerations (34:37) - Communication Strategies (37:54) - Seller Involvement Post-Acquisition (41:33) - Integration Approaches: Full Rollup vs. Platform (47:10) - Conclusion and Final Thoughts Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comhttps://earmark.app/Download the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Our Guests: Michael LyLinkedIn: https://www.linkedin.com/in/michaelly/ Website: https://www.reconciled.com/Ashley RhodenLinkedIn: https://www.linkedin.com/in/ashleyrhodenmba/Website: https://highrock.coConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

In this episode, Rory speaks with Michael Ly, CEO of Reconciled, a leading virtual accounting and advisory firm, and General Partner of the AF Fund, a venture capital fund dedicated to accounting and fintech startups. Michael shares how he built one of the fastest-growing accounting firms and why he's now investing in AI-driven financial tools that streamline workflow automation, revenue recognition, and payments. Discover how his dual role as a firm owner and investor provides him with a unique advantage in identifying transformative technologies and why he believes accountants should start thinking like investors. Learn about the latest innovations shaping the profession, the challenges of integrating software with services, and how to build a remote workforce culture. Are you curious about how AI, automation, and fintech and venture investing? Want to learn how firm owners can leverage technology to scale efficiently? Find out the answers to these questions and more in this insightful conversation with Michael Ly.

In this episode of the AmiSights Podcast, we chat with Michael Ly, the founder and CEO of Reconcile. Michael shares his journey of starting the company in 2016, driven by a mission to support entrepreneurs by handling their daily bookkeeping and accounting needs, allowing them to concentrate on their core business strengths. “The business owner or the entrepreneur, they don't start a business because they're excited about accounting,” he said. “They start a business because they're passionate about a product or service they want to provide to the world and provide to their end customer, and accounting generally is not that service unless you're an accountant.” Today's episode will explore why rapid growth doesn't immediately translate into cash flow, as the need to hire more employees increases. We'll also discuss the challenges of finding qualified accountants, a task made even more difficult since the pandemic, which saw 300,000 accountants leave the industry. Lastly, we'll dive into strategies for building a strong company culture within a fully remote environment. Connect with Michael: https://www.linkedin.com/in/michaelly/ Follow Michael on Instagram: https://www.instagram.com/michael.s.ly/ Follow Michael on X: https://x.com/michael_ly_ Check out Reconciled: https://www.reconciled.com/ Follow Reconciled on X: https://x.com/getreconciled Follow Reconciled on Instagram: https://www.instagram.com/getreconciled/ Follow Reconciled on Facebook: https://www.facebook.com/getreconciled/ Recorded on 6/24/24

Thinking of selling your practice? Join us as serial acquirer Michael Ly shares an insider's guide to preparing, pricing & selling your accounting firm. Learn how to value your firm for maximum sale price, find the right buyer, negotiate win-wins, protect clients through transition, and structure creative deals - whether nearing retirement or just exploring options. Get practical tips from an active buyer on ensuring a smooth exit on your terms.(Originally recorded on March 26, 2024, on Earmark Webinars+)SponsorShareFile - https://earmarkcpe.promo/sharefileChapters(01:34) - The Evolution of Reconciled: A Modern Accounting Firm (03:48) - Insights on Buying and Selling Accounting Firms (04:19) - Determining the Right Time to Sell Your Accounting Firm (09:44) - Maximizing Your Firm's Value Before Selling (16:53) - Adopting Modern Technology and Billing Models (23:04) - Understanding Firm Valuation and Buyer Insights (28:32) - Strategies for Enhancing Firm Valuation (30:24) - Evaluating Potential Buyers: What to Look For (32:11) - Client Retention and Revenue Strategies Post-Acquisition (36:32) - Valuation Insights: Navigating Firm Sales (41:19) - Optimizing Earn-Out Structures for Sellers (43:44) - Non-Compete Agreements: Protecting Your Business Post-Sale (46:11) - Common Mistakes Sellers Make and How to Avoid Them (50:20) - Tax Optimization Strategies for Selling Your Firm (54:03) - The Future of Accounting M&A Market (56:33) - Closing Remarks and Resources for CPE Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Our Guest, Michael LyLinkedIn: https://www.linkedin.com/in/michaellyTwitter: https://twitter.com/michael_ly_?lang=enLearn more about ReconciledWebsite: https://www.reconciled.com/aboutConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Get inside the mind of a successful CEO with Michael Ly, as we explore the remarkable journey of growing a public accounting firm. Michael's story of building an accounting business from scratch began with a passion for the field nurtured through familial connections and hands-on experience in small businesses. Starting as a solo accountant, he meticulously crafted a brand and website before launching Reconciled, focusing on selling the brand and service stack rather than personal skills or identity.Central to Michael's narrative was his innovative approach which involved cold email outreach and the assembly of remote teams spanning the U.S. and Argentina. His insights into hiring salespeople for accounting firms highlighted the importance of growth and acquisition, offering inspiration and strategic guidance for aspiring entrepreneurs. He emphasizes the significance of aligning goals and values whether starting from scratch or pursuing acquisition.Michael extends a heartfelt invitation to accounting firm owners to join him in Scottsdale, Arizona, for an informal gathering—a testament to his commitment to community and collaboration within the industry. Tune in as his journey exemplifies the transformative power of perseverance, innovation, and unwavering dedication to one's vision.What you'll hear in this episode:[1:10] Growing an accounting business from scratch.[7:15] Building a national brand. [11:25] Sales approach, pricing, and scaling.[16:20] Bookkeeping business.[22:25] Hiring salespeople.[30:25] Common challenges and useful strategies. Connect with Michael https://www.linkedin.com/in/michaellyConnect with Kelly https://www.linkedin.com/in/kellyrohrs/Connect with Bilal https://www.linkedin.com/in/bmehanna/

"This episode was brought to you by Reconciled.com. Helping M&A Entrepreneurs just like you with Bookkeeping, CFO & Controller Services, Outsourced Enterprise Accounting and Tax Services. Reconciled.com"Watch it on Youtube: https://youtu.be/PLobQZTd4vcAbout The Guest(s): Michael Ly is the CEO of Reconciled, a company that provides bookkeeping and accounting services to small businesses and startups. With a background in accounting and finance, Michael has built his company through mergers and acquisitions, gaining valuable experience in the process.Summary: Michael Ly, CEO of Reconciled, shares his journey in the accounting industry and how he built his company through mergers and acquisitions. He discusses the challenges and lessons learned from acquiring other firms and offers advice for business owners looking to buy or sell a business. Michael emphasizes the importance of seeking help and advice from others, highlighting the generosity of people in sharing their knowledge and experiences. He also stresses the value of reaching out to industry experts and business owners for guidance and insights.Key Takeaways:Building a successful accounting firm requires providing affordable, accessible, and predictable bookkeeping services to small business owners.Acquiring other firms can be a strategic way to grow and expand your business, but it requires careful planning and integration.The transition period after an acquisition is crucial and should be given sufficient time to ensure smooth integration and cultural alignment.Seeking help and advice from experienced professionals and industry experts is essential when navigating the complexities of mergers and acquisitions.--------------------------------------------------Contact Michael onLinkedin: https://www.linkedin.com/in/michaelly/Website: http://reconciled.com/--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron SkeltonThe IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we'll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------

Episode 131 of The Unique CPA features Randy's insightful discussion with Michael Ly, CEO of Reconciled, a leading virtual bookkeeping and accounting firm. Michael talks about building Reconciled from the ground up and his key strategies for growth, including acquiring other accounting firms. He provides valuable perspectives on remote work culture, the current state of AI in accounting, and his outlook on the future of the profession. He follows up with practical advice on building a thriving remote business, as well as a better understanding of trends shaping the industry—a must-listen for anyone looking to learn from the experiences of a successful entrepreneur. Get the full show notes and more resources at TheUniqueCPA.com

Owning a restaurant is not an easy feat – we talked about it in last week's 5-year anniversary episode with restauranteur Gerard Craft. If you haven't listened, make sure to hit play after you listen to this brand-new episode. This week we talk to longtime St. Louis restaurant owner Michael Ly. Michael grew up in the restaurant business. His family owned a Chinese restaurant in West St. Louis County. 20 years ago, his mom and stepdad opened Saigon Café in the Central West End. It was a totally different neighborhood at the time and Michael has watched it grow around the restaurant he now runs and operates. The Vietnamese restaurant is now a neighborhood stable, growing with the times while also remaining true to its spirit. We talk about the legacy of a family business, his favorite things to cook outside of the restaurant, and of course, we're sharing the can't miss dishes. In this episode, we talk about the Red Lantern Night Market scheduled for July 22 from 5 p.m. - 11 p.m. outside Saigon Café.

Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Michael on LinkedIn: https://www.linkedin.com/in/michaelly/Learn more about Reconciled: https://reconciled.com/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Season 4 Episode 11 | Recorded November 3, 2022 The Accountant Bracket Challenge aka ABC March Appness - nominate your top 5 accounting platforms today - text “ABC” to 33339 or enroll at bracket.accountinghigh.com Shoutout to, FreshBooks Greetings Accounting High! FreshBooks recently hit the road to meet up with some amazing people in the accounting industry at 4 awesome locations. At each location, Accounting High's rapping custodian got to sit down and chat a little with some really cool people. First up in Atlanta, Georgia, our host does a live recording with Sherrell T. Martin, Founder & CEO of Nitram Financial Solutions. In this episode, they discuss colors, branding, social media, running a firm, and all the software apps they play with in our space and how some of these appbs have been game-changing factors in the future of accounting. Sherrell also shares how she got into accounting and what drove her to start her own practice. So sit back, relax and open your mind because class is in session… on the road. 2 - Sherrell and Scott at the FreshBooks Partner Meetup in Atlanta 4 - Getting into accounting, the language of business 9 - They say people know all the languages when they're born 12 - Pros of starting out from a small firm 14 - Colors Shoutout to Michael Ly, Madeline Reeves, Fearless Foundry 19 - It wasn't enough and I got tired of working like that Shoutout to David Barrett 23 - 10 lessons in 10 years Shoutout to Xero, Intuit QuickBooks, FreshBooks 28 - What color kool-aid are you drinking? 31 - What app drew you in first? 37 - Introverts & Extroverts Shoutout to Nicole Davis, CPA, Kenji Kuramoto 43 - Apps & more Colors Shoutout to Twyla Verhelst, CPA, Hubdoc, Gusto, LastPass, Teamwork, Airtable 48 - Sherrell's hard numbers 50 - Rock the Books Online 56 - Rapping it up 61 - Bloopers --- Send in a voice message: https://anchor.fm/accountinghigh/message

Welcome to Surge's Faith, Work, and Rest podcast. Our goal is to help God's people discern their vocations and reimagine their occupations for the good of their neighbors and the glory of God. In this episode, we listen to a conversation between Teena Dare and Michael Ly about the challenge of being an entrepreneur in today's context. Michael Ly is an entrepreneur, speaker, father, husband and follower of Jesus. He is CEO & Founder of Reconciled, an online accounting firm for entrepreneurs and small business owners, as well as co-founder of Humnly & PunchPay. Launched in 2015, Reconciled has been recognized in the accounting industry by industry leaders like Intuit as a “Firm of the Future” in both 2016 & 2018, 2019 Minority Business of the Year by the Vermont SBA, and made both the Inc. 5000 list and Sun Devil 100 in 2022. Michael has spoken at Intuit's Quickbooks Connect conference multiple times, as well as other accounting and small business conferences. https://michaelly.co/ Page for the entrepreneurs group: https://www.surgenetwork.com/entrepreneurs

Season 3 BONUS | Recorded March 22, 2022 Welcome to the resurrection of the #5minLy We're back for another chat and your regular dose of quick-and-easy information. Today, our hosts go through the 7 micro habits to be a better leader. Although short compared to our usual episodes, this ain't short on helpful tips on how we can better mange our firm and our employees. Listen in for more… #5minLy is co-hosted by Michael Ly, an accounting and fintech entrepreneur whose exposure to the startup accounting ecosystems has given him insights into the opportunities around the data sitting in accounting systems 7 micro habits that'll help you become a better leader at your firm Champion your employees' professional development Be present in the moment Create a periodic performance review, and follow it up Be a coach Be a human Be honest Share the praise and encourage others to do the same Shoutout to Twyla Verhelst, CPA Karbon Earmark Xero Nikole Mackenzie, CPA Chewy --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Michael Ly is the Founder and CEO of Reconciled—a virtual bookkeeping and accounting firm for busy business owners and entrepreneurs across the US. He is also a Co-Founder of PunchPay—a small micro-loan fintech startup that offers post-payment and micro-installment loans for small business expenses. In this episode, Michael shares with Stuart how his family escaped Cambodia as refugees and relied on entrepreneurship to survive the new world, his introduction to accounting, and the entrepreneurial spirit running throughout his family. Together they discuss: Michael's journey in accounting and entrepreneurship (1:20) The story of Michael's parents (3:30) The experience of growing up in the US (5:00) Michael's family's entrepreneurial spirit (08:00) Skiing in Burlington, Vermont (10:00) The story of founding Reconciled (12:00) Growth management and the tech stack at Reconciled (14:30) The story of founding PunchPay (16:30) The niche of micro-businesses (19:00) The future of Reconciled and PunchPay (21:00) Growth strategy at Reconciled (22:00)

here's a BONUS chat with Chad Davis... and a preview of what to expect from Accounting High (School) Welcome to Accounting High! In this episode, we get to know more about the whats and whys of Podcasting from Scott and Chad. They share and scrutinize the ideas of how their episodes of AutomationTown and Sons of CPAs (Accounting High) come to life. Hear how authenticity reflects on the product and why talking to people that are smarter than you is the smart thing to do 1 We all have to graduate middle school sometime, and the Sons are evolving. Evolution is what Accounting High is all about, the evolution of the accounting profession and making room for the next generation. Accounting High is the new school High School, but our listeners know that it's also a nod to getting high. I think in four years we'll be a bit more grown-up/mature and graduate... then we'll change the name to "Accounting U" Shoutout to Yeti, Shure, Jason Staats 2 Let's hear from Chad what was the driving force behind starting their podcast (AutomationTown) Shoutout to Paul O'Mara 4 You gotta be comfortable with doing some shitty stuff at first Shoutout to Zapier, Make (formerly Integromat) 6 Authenticity is hard to come by but it shows on what you're producing Shoutout to Blake Oliver 9 This is for fun and something you can throw on while you're at a barbeque Shoutout to Ignition 13 Chad hopes to reach people in positions that kind of hate the monotomous part of their jobs and they can take some inspiration from the actions that occur 17 People don't agree with the way Chad sells accounting services, but he has a great relationship with the clients that come on board Shoutout to Xero 22 Podcasts: How can we market them to mainstream operations people? Shoutout to Expensify 24 Let's find out what goes through Scott's mind as he thinks about the future of Podcasting Shoutout to Nikole Mackenzie, Michael Ly, Jason Ackerman, Ron Baker, Peloton 29 What will differentiate Accounting High from Sons of CPAs Shoutout to Relay --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Michael Ly arrived in this country in his mother's stomach as they fled Communist rule in Cambodia. He's overcome so much to get where he is today and yet he knows that God is more valuable than everything else. Pull up a chair and get some great advice from a real American success story! Dave and Michael catch up briefly, then jump off from James 4:13 and talk about how to keep your head in this insane economy! --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/dave-long4/support

Season 2 Episode 18 | Recorded January 21, 2022 Today, we're talking about the Artist Formerly Known as π (PI) … Guy Pearson, CEO of Ignition, about all the personal and professional goings-on in his world – marriage, funding rounds, rebranding, moving, and achieving a puppy, and what's ahead for Ignition. Visit Ignition: https://www.ignitionapp.com/ Connect with Guy: https://www.linkedin.com/in/guypearson1/?originalSubdomain=au What's on the menu: Haircuts – or the lack thereof Why the rebranding? Anatomy of a firm – Karbon is the skeleton; Ignition is the heart; the blood is Xero and Gusto; the fingers are Digits; the eyes are LivePlan... How Ignition helps firms move toward advisory No more “P” swag ... Ignition – The professional-services Airbnb The Canadian component Integrations – Xero, Gusto, Karbon, and more GoProposal v. Ignition = More Feature Updates? On being an extroverted introvert, and extroverted entrepreneur Guy's growing pains * No Fyre Festivals here! All about the Series C, other funding rounds, and cleaning house Uniforms of choice – Shorts, T-shirts, and Hawaiian shirts The real reason for Ignition – People Round pegs, square holes, and staying true Annihilating scope creep and sticker shock What Guy misses about running a firm Reading: The Starfish and the Spider: The Unstoppable Power of Leaderless Organizations https://amzn.to/39MfsNC Shout out to Ignition, Michael Ly, Josh Lance, Blake Oliver, Talbot Sayer, John Lennon, Eddie Vedder, Ignition's design and marketing teams, Gusto, Thomson Reuters, Intuit, Xero, Zapier, James Ashford, Richard Branson, Jeff Bezos, Tiger Global, EVP, LivePlan, Jirav and all who we appreciate but may have failed to mention here! --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Productization definition from Investopedia: The process of developing or altering a process idea, skill or service to make it marketable for sale to the public. Productized services can also be packaged and offered as subscription-based services. shout out to our sponsor this week, Gusto to learn more about Productizing Advisory, check out Gusto's people advisory training and get certified at gusto.com/training and type in the code SONS100 at checkout to receive $349 off your training!! the Acronym we're using to Productize Advisory today is CPA C for Cadence P for Process A for Agenda the steps to productize your services: Step #1, find a recurring problem or need that you're constantly seeing from your customers. Step #2 develop a solution to the problem Step #3 create a system that is repeatable and can be taught to others Step #4 train others on the system Step #5 deliver the services, get feedback, and continue to improve. Fixed fee pricing and how that's now becoming more normal for our industry has forced us to productize our services when someone's paying for something, you have to deliver a set of services each month. Cadence is one of the most important parts of productization, and there's gotta be an agenda, and there has to be a system and an approval process that can be taught shout out to GrowthLab, Dan Gertrudes, Steven Bylar, Heather Satterly, Korey shout out to LivePlan for productizing the delivery of forecasting shout out to all the Excel Jockey's and Peter Wen and TallyFor shout out to Niks, Kenji, Josh Lance, and Michael Ly, and of course your teacher Jacklyn Anku shout out to EO and Scaling Up and Verne Harnish and EOS and Traction and Geno Wickman --- Send in a voice message: https://anchor.fm/sonsofcpas/message

shout out to our newest sponsor LiveFlow, get 20% off your first 3 months with code SONS at LiveFlow.io/sons Botkeeper is giving away a free year of bookkeeping, up to $20k, enter for a chance to win here! https://www.botkeeper.com/win #5minLy where Michael Ly and Scott Scarano discuss running their modern accounting firms with some some choice topics from Karbon Magazine this week's article https://karbonhq.com/resources/not-to-do-list-accounting-firm-efficiency/ --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Recorded on 2.22.22 …Happy TwosDay! Today we're talking about Tech Partners… “I'm just pleased to participate in this podcast production pertaining to particular peculiarities of partnership.” Kenji people shout outs: Kenji, Niks, Scott, Joel Lacayo, Pat Perez, Michael Ly, Rod Drury, Matthew, tech partner shout outs: Xero, Relay, QuickBooks, CollBox, Gusto, ADP, Digits, Drizly --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Season 2 Episode 6 | The Evolution of Finance…as a Service (feat. Dan Gertrudes, CEO) | Co-Founder of GrowthLab FaaS | growthlabfinancial.com | Recorded November 8, 2021 Shout out to our sponsors this week: Gusto's People Advisory and Karbon “I didn't fail out of the school of hard knocks, I'm still getting schooled in that school, it's a hard knock life that we live…that's the moral of this story” 0-10min Figuring shit out at the ripe age of 38 Attributing equal parts luck and intention to our situations What's your tolerance to risk when investing in yourself We as Americans have to keep up with ourselves and everyone around us as we fill the holes in our souls with more stuff…in the Economy built on Credit Dan's higher education journey of 3 schools to obtain 1 diploma 10-20min Finance as a Function. “[Dan] If I were you, I would probably never take on another bookkeeping business [at GrowthLab] unless they were an FP&A customer” - Ian @ Karbon The hardest thing to sell to small businesses is Planning… it's intangible, it's hard to put a bookend on it This notion of billable hours is nonsense, my challenge is how do we productize FP&A? We need to stop having this ‘backward v forwards' thinking conversation… planning is so back in vogue right now “If accountants, CPAs, accounting firms can figure out this FP and a function, just like we all did 20 years ago with the cloud accounting. We're just going to become more of that trusted advisor. Like everybody talks about being the trusted advisor, but you're not a trusted advisor. If you're not on a cadence like if you're only talking to your customer once or twice a year, that's not a trusted advisor.” DG “… and then I came across guys like Michael Ly, also not a CPA… and one of the first people I met that looked and felt a little bit more like us” DG 20-30min “there are only two ways to make money, you leverage capital or you leverage people…we're in the business of leveraging people” DG Step 1 Technology and Leveraging our FP&A Function… shout out to Jirav Step 2 Cadence and Implementing our FP&A Function… shout out to Karbon Step 3 People and Executing our FP&A Function… shout out to our people at GrowthLab “one thing that has kept me real is knowing that [people] leave Friday afternoon and you just don't know if they're coming back on Monday” DG 30-40min “There needs to be continuity between each of the value streams…you need to replicate bookkeeping, accounting and FP&A…there needs to be a flow of information from left to right” “my number one job as a people manager is to de-risk the people factor in what we do, which sounds totally counter-intuitive to everything we probably just talked to prior to this” DG “I think you could argue that what you've done is you've created the processes first, before the pillar of people.” S² The 3 Pillars of GrowthLab: Cadence, Rigor, and Team 40-50min “if your margins aren't great it's either a pricing problem or a cost problem… or you're just paying your people too much” DG “The hourly billable model puts the onus on managing your gross margins on the customer. Fixed price, the onus is back on you as the vendor. And that's the challenge and it's very uncomfortable. It's an uncomfortable place for business owners or managers of accounting firms” DG “We have to get uncomfortable sometimes to grow, right? A lot of growth comes from being uncomfortable and, for us to grow as an industry …we're all the change agents [in an industry fraught with money and inertia]” S² --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Hello and welcome. We are all the Sons of CPAs. Join us with this week's #20minLy or Sons of CPAs Bonus episodes where Michael Ly and Scott Scarano discuss some choice topics on running their respective modern accounting firms. Today's Topic: Losing key employees that your team loves, and techniques or ways of planning for and grieving for lost employees in general... --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Sons of CPAs Episode 22 Bonus 10.26.2021 #5minLy | The Color Yellow Episode 11 LEADERSHIP | RECRUITING #5minLy defined: Sons of CPAs Bonus episodes where Michael Ly and Scott Scarano discuss some choice topics from Karbon Magazine about running their modern accounting firms. https://karbonhq.com/resources/30-interview-questions-to-help-you-identify-the-best-candidate/ --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Sons of CPAs Episode 20 Bonus HAPPY TAX EXTENSION DEADLINE 2021!!! 10.15.2021 #5minLy | Shiny Happy Hybrid Teams Episode 10 LEADERSHIP | DISTRIBUTED TEAMS | WORKING REMOTELY #5minLy defined: Sons of CPAs Bonus episodes where Michael Ly and Scott Scarano discuss some choice topics from Karbon Magainze about running their modern accounting firms. https://karbonhq.com/resources/3-infrastructure-pillars-to-run-a-remote-or-hybrid-accounting-team/ Bonus Music Video! https://www.youtube.com/watch?v=YYOKMUTTDdA --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Sons of CPAs Episode 18 Bonus #5minLy | Customer Service is Where We Win Episode 09 PERFORMANCE | SERVICE #5minLy defined: Sons of CPAs Bonus episodes where Michael Ly and Scott Scarano discuss some choice topics about running their modern accounting firms. --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Sons of CPAs Episode 17 Bonus #5minLy | HR Services or People Advisory? Episode 08 BENEFITS | CONSULTING | ADVISORY Hello and welcome. We are all the Sons of CPAs. Join us with this week's #5minLy with your hosts Michael Ly and Scott Scarano. #5minLy defined: Sons of CPAs Bonus episodes where Michael Ly and Scott Scarano discuss some choice articles from #LizMasonContent. https://www.accountingweb.com/practice/practice-excellence/why-should-an-accountant-offer-human-resources --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Sons of CPAs Episode 16 Bonus #5minLy | The Uniqueness of Subscriptions Episode 07 PERFORMANCE | PRICING Hello and welcome. We are all the Sons of CPAs. Join us with this week's #5minLy with your hosts Michael Ly and Scott Scarano. #5minLy defined: Sons of CPAs Bonus episodes where Michael Ly and Scott Scarano discuss some choice articles from Saasable Content. https://www.getsaasable.com/how-to-choose-which-subscription-model-is-right-for-your-product --- Send in a voice message: https://anchor.fm/sonsofcpas/message

#5minLy | Client Success Teams Episode 06 GROWTH | EFFICIENCY Hello and welcome. We are all the Sons of CPAs. Join us with this weeks #5minLy with your hosts Michael Ly and Scott Scarano. #5minLy defined: 1. A period of time equal to about a twelfth of an hour, sometimes an eighth... 2. Sons of CPAs Bonus episodes where Michael Ly and Scott Scarano discuss some choice articles from Karbon Magazine https://karbonhq.com/resources/if-you-standardize-one-process-this-year-make-it-this-one/ --- Send in a voice message: https://anchor.fm/sonsofcpas/message

Sons of CPAs Episode 14 Bonus #5minLy | Back on Slack Episode 05 WORK-LIFE | WORKING REMOTELY Hello and welcome. We are all the Sons of CPAs. Join us with this week's #5minLy with your hosts Michael Ly and Scott Scarano. https://karbonhq.com/resources/how-to-solve-the-5-main-communication-challenges-of-working-remotely/ #5minLy defined: 1. A period of time equal to about a twelfth of an hour, sometimes an eighth... 2. This week Michael Ly and Scott Scarano discuss a choice article from Karbon Magazine --- Send in a voice message: https://anchor.fm/sonsofcpas/message

#5minLy | The Voice of the Heroes + the Coach Episode 04 GROWTH | STRATEGY | PERFORMANCE Hello and welcome. We are all the Sons of CPAs. Join us with this week's #5minLy with Michael Ly where we feature an article of our choice from Karbon Magazine with your hosts Michael Ly and Scott Scarano. https://karbonhq.com/resources/how-to-optimize-visibility-across-your-firm-to-uncover-growth-opportunities/ --- Send in a voice message: https://anchor.fm/sonsofcpas/message

#5minLy | Work-life Harmony Episode 03 1. A period of time equal to about a twelfth of an hour, sometimes an eighth... 2. Michael Ly and Scott Scarano discuss a choice article from Karbon Magazine https://karbonhq.com/resources/how-to-break-the-always-on-cycle-and-boost-productivity/ --- Send in a voice message: https://anchor.fm/sonsofcpas/message

#5minLy | The Cult of Personality Episode 02 https://karbonhq.com/resources/building-a-strong-accounting-firm-culture/ "#5minLy defined" 1. A period of time equal to about a twelfth of an hour, sometimes an eighth... 2. Michael Ly and Scott Scarano discuss a choice article from Karbon Magazine https://karbonhq.com/resources/building-a-strong-accounting-firm-culture/ --- Send in a voice message: https://anchor.fm/sonsofcpas/message

The Michael Ly - Reconciled - getreconciled.co/merge-with-reconciled/ - 2018 USA Firm of the Future - www.youtube.com/watch?v=6qPjDrMkGBY - Palm Pilots - www.ebay.com/b/Palm-Pilot-PDAs/38331/bn_36843074 - Predictable Revenue - https://predictablerevenue.com/author/aaronross - Meet the Sons of CPAs - Jason Ackerman, CPA bnacpa.com/about/our-team - Scott Scarano, EA padgettnc.com/padgett-business-services-team - contact info: Sons of CPAs | 9708 Dayton Ct. | Raleigh, NC 27617 --- Send in a voice message: https://anchor.fm/sonsofcpas/message

"We definitely leverage Burlington and our values here in order to build a national brand. " Michael Ly has been a Vermonter for 10 years, and an entrepreneur his whole life.  Ly is the CEO of Reconciled, the cloud-based virtual bookkeeping and CFO advisory service. He has previously worked as a controller, consultant, and CFO. On top of all that, he's the co-founder of Humnly on-demand HR.  Listen to Michael Ly's story on building his businesses, remote work. and scaling up in a small city like Burlington. Follow on LinkedIn: https://www.linkedin.com/in/michaelly/ Get started with Reconciled: https://getreconciled.co/ Check Out Humnly: https://www.humnly.com/    

From Cambodia With Love! E46 In this episode, Austin Peterson and Michael Ly discuss what it looks like to build a account and bookkeeping business with a fully remote workforce prior to Covid-19 forcing that to be the case for many businesses. Michael Ly is truly a visionary when it comes to Fintech and financial […] The post From Cambodia With Love! E46 appeared first on Business RadioX ®.

From Cambodia With Love! E46 In this episode, Austin Peterson and Michael Ly discuss what it looks like to build a account and bookkeeping business with a fully remote workforce prior to Covid-19 forcing that to be the case for many businesses. Michael Ly is truly a visionary when it comes to Fintech and financial […] The post From Cambodia With Love! E46 appeared first on Business RadioX ®.

Subscribe to the Podcast https://sgplabs.com/subscribe - Why linkedIn is a great place to build your business - Why having a brand, being scalable and virtual are vital for a modern services company - Balancing outbound sales and building your brand - Why converting cold leads provides so much information for your marketing - Why start a podcast? Hint: it's more than just getting subscribers - How to think about an effective content strategy Reach out to Michael: https://www.linkedin.com/in/michaelly/ https://twitter.com/michael_ly_

2020 #35 with Michale Ly and Hector Garcia Oct 30 • 52:16 Andrew and Brad took the night off FNL co-founders Michael and Hector fill in View it on Facebook: https://www.facebook.com/fnlaccountants/videos/373528103771295

2020 #32 with Michael Ly Oct 16 • 1:02:15 Andrew and Brad talk to FNL co-founder, Michael Ly - Entrepreneur, Coach, Speaker! https://www.facebook.com/fnlaccountants/videos/2834317136892043

Michael Ly talks about his passion for developing personal and professional relationships with people and how it benefits his career as the CEO of Reconciled! He also talks about the work environment he strives for at his company and how his background helped fuel his passion for developing relationships!

You don't need a lot of resources to start your entrepreneurial journey. You can literally start with nothing. Your desire to succeed must be self-created. It will not be given to you. Facing adversity is a strength in your life, and so we shouldn't spend our lives trying to get that adversity to go away. Our guest, Michael Ly, is a serial entrepreneur. He is the founder of Reconciled, an online bookkeeping and accounting service, Humanly, which provides on-demand HR solutions for entrepreneurs and Saasable, an online app for business owners to help them keep track of their recurring revenue metrics.   Song by Adam Vitovsky / CC BY 3.0

Michael Ly and Sabrina Parsons joined David and Blake to explain the Small Business Administration's Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP). Michael Ly, is the founder of Reconciled, a remote bookkeeping firm that is currently advising and helping hundreds of small business clients navigate both EIDL and PPP loans. Sabrina Parsons, who is on the board of directors at an SBA lender, Oregon Pacific Bank, has been actively communicating with both the SBA, and the Small Business Development Center (SBDC) this week.

Today I’m speaking with serial entrepreneur Michael Ly -  CEO of a number of businesses including Reconciled In this episode, we talk about . . . How Michael stays focused on working on his businesses, rather than in his businesses. The complexities of navigating different cultures in the work environment, How starting a new business gets easier each time, as you learn from past experiences. Michael sharing how his upbringing, in the hot desert of Arizona by Cambodian refugees, impacted his approach The structure of his online bookkeeping and advisory firm The Accounting and Business tools he uses Michael’s philosophy of 'Always be Learning'. I encourage you to sign up to the Accounting Apps newsletter, by visiting https://HeatherSmithAU.COM

Andrew Wall, Hector Garcia & Michael Ly are joined by Guy Pearson of Practice Ignition to talk about some huge updates! https://www.facebook.com/fnlaccountants/videos/517937635806274/

A lot of us dreamed of starting our own business and being our own boss, but may not have known exactly what type of business we wanted to go into. Cafes and shops sound dreamy, coaching sounds fulfilling, crafting would be a great outlet...but the reality is that these business ideas are oversaturated in most areas. If you want to not only stay in business, but thrive as you serve your market and earn the revenue you desire, you'd better have a unique twist to your offering that really makes you stand out.  Our guest today took a different approach to going into business, by seeing a need that was going unmet in the marketplace, and creating a startup that would fill the gap. Michael Ly is the CEO and co-founder of Reconciled, a completely online-based accounting firm which lets business owners get their bookkeeping done in a fast, easy, and painless way with help from a certified accountant.

Michael Ly is joined by William Lopez with Gusto talking about People Advisory, Accounting Communities, and other fun stuff! https://www.facebook.com/fnlaccountants/videos/477610176279863/

Michael Ly hosts a special Ecommerce night with special guests Patti Scharf of Catching Clouds & Brittany Drury Brown of LedgerGurus. https://www.facebook.com/fnlaccountants/videos/2513847728664916/

Hector Garcia, Michael Ly & Andrew Wall are joined by our friend Bob Wang to talk about customer service & creating a "Disney experience" accounting firm! https://www.facebook.com/fnlaccountants/videos/569035650563486/

Andrew Wall, Michael Ly, and Hector Garcia do a live recap of QuickBooks Connect on the last Friday of the conference, Special Cameos from our colleagues: Jacob Schroeder, Bob Wang, Wes Hackett, Liz Scott, and Misty Megia (Leader of QuickBooks ProAdvisor Program)! (Pre-recorded live on Friday 11/08 in San Jose) https://www.facebook.com/fnlaccountants/videos/425358394802721/

Today, my guest is Michael Ly. Michael is the founder and CEO of Reconciled, an online bookkeeping service for Entrepreneurs. In this conversation we cover: -How Michael creatively funds his in-person company meet ups -Important tax considerations for hiring employees in different states -The power of transparency and vulnerability, especially with a remote team Michael is a talented entrepreneur who is building a really solid foundation for scaling a services company with a distributed model. And with that I give you…Michael Ly.

Hector Garcia & Michael Ly talk with special guest Andrew Berg of Berg Advisors about Advising Entrepreneurs and other fun topics! https://www.facebook.com/fnlaccountants/videos/389366081755306/

Today we sit down with Michael Ly, CEO of Reconciled online bookkeeping and 2018 recipient of Intuit's US Firm of the Future.Produced by Taylor Kracher, VCET Associate.www.getreconciled.co See acast.com/privacy for privacy and opt-out information.

Michael Ly & Hector Garcia are joined by Seth David to discuss Personal & Business Branding plus other fun topics. https://www.facebook.com/fnlaccountants/videos/vl.2393378420921139/2425301994358101/?type=1

Michael Ly, Hector Garcia, & Andrew Wall talk with special guests Juliet Aurora & Steve Loates about bookkeeping, hiring, and other great topics. #cloudaccounting #bookkeeping https://www.facebook.com/fnlaccountants/videos/vl.2393378420921139/463716500875921/?type=1

In this conversation, we'll cover Why you must focus on selling above everything else - 11:18 Creating your 30-minute money management system - 12:40 How to understand your unit economics - 14:30 Why you need a basic understanding of financial statements - 17:40 To hire an outside advisor or to not? - 19:00 LINKS MENTIONED Reconciled - https://getreconciled.co

Named Intuit's 2018 Firm of the Future, expert Michael Ly discusses the impact Blockchain has on elections, accounting and the way we do business. See our Guest Offerings at SelfTalkRadioShow.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

We talk with Michael Ly about small business and how you can use virtual companies to scale your company.

Episode 38 of the Art of Advisory, podcast by Kirk Bowman and Hector Garcia: Interview with Michael Ly from Reconciled Watch us LIVE every Tuesday at 12pm EST in Facebook at: http://www.facebook.com/altaccountant Download MP3: http://hectorgarcia.com/wp-content/PODCAST/ArtOfAdvisory_Episode38.m4a

Episode 38 of the Art of Advisory, podcast by Kirk Bowman and Hector Garcia: Interview with Michael Ly from Reconciled Watch us LIVE every Tuesday at 12pm EST in Facebook at: http://www.facebook.com/altaccountant Download MP3: http://hectorgarcia.com/wp-content/PODCAST/ArtOfAdvisory_Episode38.m4a

Episode 38 of the Art of Advisory, podcast by Kirk Bowman and Hector Garcia: Interview with Michael Ly from Reconciled Watch us LIVE every Tuesday at 12pm EST in Facebook at: http://www.facebook.com/altaccountant Download MP3: http://hectorgarcia.com/wp-content/PODCAST/ArtOfAdvisory_Episode38.m4a

Welcome to Surge’s Faith, Work, and Rest podcast. Our goal is to help God’s people discern their vocations and re-imagine their occupations for the good of their neighbors and the glory of God. In this episode, we listen to a conversation between Michael Ly and Jim about accounting, start-ups, managing employees, and more. Michael is an entrepreneur and cloud accounting professional, most recently as CEO of ReconciledIt.com and Co-Founder of BlockchainVT.co Michael has served in a variety of financial leadership capacities, from Controller to CFO. After moving to Burlington, VT in late 2011, he quickly became a trusted adviser to CEOs and business owners, developing a niche as a part-time CFO. He launched ReconciledIt.com in 2015 as his customer's demands for bookkeeping services grew and the technology to serve them online has come to a good level of maturity. His company grew relatively quickly and was selected by Intuit as a 2016 Firm of the Future Runner-up, recognizing it as one of the most future-ready and forward-thinking firms in the world. He was also selected to serve on Intuit's Accountants Advisory council for 2017-2018. Links: surgenetwork.com/start-faith-work-rest www.missionaltraining.org/

On today's episode of the podcast Eric is joined by beverage consultant Linda Salinas. Eric and Linda discuss some of the latest news from the Houston restaurant and bar scene including Andrew Zimmern of the Travel channel filming at 6 Houston area restaurants for the 2nd season of his show The Zimmern List, the closing of The Queen Vic Pub and Kitchen, a new fast casual Italian concept heading to the Houston area, Eric Hastings joining Lasco Enterprises, and much more! In the Restaurants of the Week portion of the podcast Eric and Linda discuss Calle Onze. In the Guest of the Week segment, brought to you by 8th Wonder Brewery, Eric is joined by Mike Lim and Michael Ly of Tobiuo Sushi & Bar. The guys discuss Mike's start in cooking, learning from Morimoto, coming to Texas, getting the restaurant started, why Katy, balancing creativity with what the customer wants, the cocktail program, how the first month has gone, and so much more! The What’s Eric Eating Podcast Guest of the Week segment is brought to you by 8th Wonder Brewery. Visit 8thwonderbrew.com for brews, events, taproom info, and much more!

My featured guest today is serial CFO and entrepreneurial accounting professional, Michael Ly. Michael has gone from comptroller to CFO over his career and now leads two firms that he started, Reconciled It and Burlington CFO. On this episode of The BOOST Podcast, Michael discusses the importance of creating a business that solves a real problem and how that idea led to his transition from a comfortable CFO job to building his own consulting practice. Get full show notes and more information here: http://bit.ly/2g3rKj6