Practice Management Accountant spotlight: Nick Boscia, CPA, EA Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Nick Boscia, CPA, EA Modified Aug 13, 2024 4 min read Boscia & Boscia PC, an accounting and tax firm based in Matawan, New Jersey, has a rich history dating back to its founding by Joe Boscia Sr. in 1975. My father, a dedicated and hardworking accountant, built the firm with a commitment to providing exceptional services, even if it meant working seven days a week. While his methods were effective, they were also deeply rooted in traditional practices with minimal adoption of evolving technologies. The early days My dad was one of the first users of Intuit® Lacerte® Tax, and his account number 371 is a testament to how long we’ve relied on this software. Despite Lacerte’s evolving features, my father used it in the most basic way, not seeking to improve processes or grow beyond what he knew. His old-school mentality and relentless work ethic provided a comfortable lifestyle for our family, but left little room for technological advancement. Transitioning to the next generation (from left) Joe Boscia Jr. and Nick Boscia My brother, Joe Boscia Jr., joined the firm after college, bringing an entrepreneurial spirit that contrasted with our dad’s traditional approach. While I pursued my CPA license and worked at PwC, Joe focused on expanding the business, leveraging his strengths in networking and client acquisition. When I joined the firm in 2013, I quickly learned our outdated systems and saw the potential for improvement. Embracing modernization One of my first realizations was the need to move away from manual processes such as big, green sheet ledgers and manual write-ups for monthly bookkeeping. Attending accounting conferences opened my eyes to more efficient ways of working, including bank feeds and online downloads for QuickBooks Desktop, features we were not using. Convincing my father to adopt new tools was challenging, but we gradually made changes. After he retired in 2018, we had the freedom to fully implement our vision. One of the first major upgrades was SmartVault, integrated with Lacerte, which revolutionized document management by allowing clients to securely upload documents and access their tax returns online. This was a game-changer for us, reducing the need for paper documents and improving client interaction by providing a secure, organized way to manage our clients’ tax returns, significantly reducing the administrative burden and streamlining our operations. We also continue to convert clients from QuickBooks Desktop to QuickBooks Online. In addition, our tech stack includes: Calendly: Simplifies appointment scheduling, reduces missed appointments, and allows clients to book times that fit their schedules. Anchor: Implemented for billing and engagement letters, this app that integrates with QuickBooks Online automates invoicing and payment collection, eliminating time-consuming billing tasks. FinancialCents: An app that also works with QuickBooks Online, we use FinancialCents as our workflow management tool, giving us a comprehensive view of all tasks, improved project tracking, and team collaboration. Growing the team and the family dynamic As our client base grew, we faced the challenge of managing an increasing workload. We initially split the client load between Joe and me, and later expanded our team through internships and full-time hires. Training the team was crucial, especially as we continued to adopt new technologies. What everyone wants to know is what it’s like working with family. The dynamics of working in a family business, especially transitioning from an old-school founder to a new generation, are unique. My brother and I complement each other’s strengths; Joe focuses on client acquisition and external relations, while I concentrate on internal processes and technological upgrades. This synergy has been crucial to our growth, allowing us to more than double our client base from 700 to 1,800, while improving our work-life balance. Adapting to change Our journey wasn’t without its struggles, particularly with legacy clients who were resistant to change. Transitioning them to new systems was a gradual process, often requiring a blend of old and new practices to accommodate their preferences. However, the long-term benefits of modernization have been clear in terms of efficiency and client satisfaction. Today, Boscia & Boscia PC stands as a testament to the successful integration of family values and modern technology. We continue to innovate, always seeking new tools and methods to enhance our services and streamline our operations. The foundation built by my father has allowed us to grow and adapt, ensuring that we provide the best possible service to our clients while maintaining a healthy work-life balance. Previous Post Guía para cambiar de software y migrar datos Next Post New Education Resource Center is now live! Written by Nick Boscia, CPA, EA Nick Boscia, CPA, EA, has an unwavering commitment to redefining the accounting profession. As co-owner of Boscia & Boscia PC in Matawan, New Jersey, Nick specializes in individual and business tax returns, and bookkeeping, leveraging technology-driven solutions for efficient and clear client communication. Nick's brand, TheBalancedCPA, embodies his mission to blend professional growth with a fulfilling personal life. He advocates for a well-balanced lifestyle, emphasizing mental health, positivity, and personal well-being in an industry often plagued by stress and burnout. Nick is passionate about promoting a career in accounting that allows for travel, building strong relationships, and ongoing learning. His goal is to inspire others to achieve a harmonious balance between work and life, proving that a successful career and a fulfilling personal life are not mutually exclusive. More from Nick Boscia, CPA, EA Follow Nick Boscia, CPA, EA on Facebook. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Notify me of follow-up comments by email. Notify me of new posts by email. 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