Josh Aharonoff, CPA

Fractional CFO | Founder & CEO at Mighty Digits | Follow Your CFO Guy for Finance & Accounting tips!

I build tools that make financial reporting effortless — starting with Model Wiz, the Excel-based FP&A platform used by accounting firms, founders, and CFOs. 

I also teach finance and Excel to a community of 400,000+ across YouTube, LinkedIn, and my newsletter. 

When I’m not creating, I work as a fractional CFO helping companies turn their financial data into action.

Check out some helpful resources here:

🔗 www.modelwiz.com - Get beautiful dashboards + forecast right in your excel file

🔗 www.yourcfoguy.com - Learn Finance & Accounting like you’ve never seen before

🔗 www.mightydigits.com - Get hands on support

CEO and Founder

Mighty Digits is a consulting firm specializing in Accounting and Finance services for early stage startups. Services include Financial modeling, Month end Close, AP / AR Management, Payroll, Compliance Filings and more.

I Asked Claude to Build an Excel Dashboard
People keep saying AI can't handle real financial work.

So I gave Claude a prompt to build a department headcount dashboard (Full prompt in the comments)

20 minutes later...

I'm staring at a fully functional dashboard.

→ What I Asked For

A department dashboard where each manager only sees their team's data.

Dropdown selector. Select "Finance" and everything updates.

Auto filtering tables. KPI cards. Cost breakdowns.

→ What Claude Built

Look at the image in the bottom right corner...this is what Claude gave me.

Source table with employees across Finance, Marketing, Sales, Product, Ops.

The dropdown works. Select a department and boom...everything updates.

Filtered table using the FILTER formula. Dynamic arrays that spill based on selection.

KPI cards that calculate automatically from the filtered data.

Cost breakdown by category. Formulas linked properly.

Clean professional structure.

But here's the thing...

→ Then I Made It Mine

The main image shows what happened after a few tweaks.

Brand colors. Some formatting adjustments. A few design touches.

Now it's world class. Presentation ready. Something I could send to executives TODAY.

That's the power here.

Claude handles the heavy technical lifting. The formulas. The structure. The logic.

You bring the polish. The brand. The final touches that make it yours.

→ What Got Me

It understood dynamic arrays and used them correctly.

The FILTER formula isn't basic. Most finance pros spend hours googling tutorials for this.

It structured everything right from the start. No trial and error. No debugging formulas.

The design thinking... KPIs at top, details below, breakdown on side. Exactly how I build them.

→ Here's What I Keep Thinking

My whole career, I've believed Excel is the most important skill in finance.

Still do.

But with tools like this? You can cut the learning curve MASSIVELY.

You don't need months mastering advanced formulas. Skip straight to using them.

Focus on the business know how. What does this dashboard need to show? What decisions will it drive?

If you know WHAT you want and WHY it matters...Claude handles the HOW.

That's not replacement. That's amplification.

→ The Real Shift

If you implement this in your workflow...use it step by step like a coach handling technical execution while you guide strategy...

That's where it gets powerful.

Every finance team rebuilds the same stuff. Headcount dashboards. Budget trackers. Revenue breakdowns.

The repetitive setup? Claude does it in minutes.

You bring the context. The judgment. The customization.

Transform your financial workflows with Claude, get started at https://lnkd.in/efHYM8VD

What dashboard should I build next?

#ClaudePartner

This post is sponsored by Anthropic.

Brand partnership • The Guy Behind the Most Beautiful Dashboards in Finance & Accounting | 450K+ Followers | Founder @ Mighty Digits

Learn EVERYTHING there is to know about FP&A 👇 

➡️ What is FP&A?

FP&A stands for Financial Planning and Analysis, and it relates to PLANNING and ANALYZING Financial data…

So by PLANNING, that can be:

• Create a 3-statement model
• Allocating budgets
• Creating a forecast for a specific area of a business

and by ANALYZING, that can be:

• Comparing budget vs actuals
• Analyzing trends
• Analysis on optimal pricing
• Analysis on costing

➡️ How do you break into FP&A?

🎓 THE CREDENTIALS

FP&A is one of those tricky fields where there is no direct path…

there is no college major for FP&A.

Instead, it’s common to major in a field like finance, accounting, or even economics…

and many people who work in FP&A can have either a CPA license, MBA, or CFA.

🧠 THE SKILLS

Regardless of what credentials you have, here’s what I suggest you focus on to break into the field, and excel in your career:

💪 Strong excel skills - I can’t imagine an FP&A function that doesn’t have some aspect of excel…even if you’re using a gigantic FP&A tool.

Learn everything you can about Excel…whether that be functions, data structures, keyboard shortcuts, or data visualization techniques (to name a few) 

♻️ 3 Statement Modeling - this one’s controversial

Many feel that you don’t need to know how to create a 3 statement model in order to perform well in an FP&A function…

and I can see that being true - but I’d also say by learning this skill, you will be infinitely better positioned.

When you understand how to create a 3-statement model, you can:

💡Forecast cash flows dynamically
💡Understand the relationship between the 3 financial statements
💡Understand accounting treatments that led to the financial data you are working with

➡️ How do you create an awesome forecast?

Oh man…so much to comment on this.
Here’s what I’d prioritize:

📈 REVENUE → this is where many people start with creating a forecast, and is where early stage startups should focus, as pre-seed / seed investors want to see that you understand your business model above anything else

👥 HEADCOUNT → this will be our biggest operating expense…get it right or risk surprises

📝 PROFIT & LOSS → forecast the rest of your P&L by using an average of prior months, a fixed schedule, a yearly assumption, or any other assumption applicable.

🤑 CASH FLOWS (Balance Sheet) → when you have a 3 statement model, you can forecast changes to your Balance Sheet & P&L which will automatically flow through into your cash flows. When forecasting the Balance Sheet, utilize the BASE framework:

Beginning + Additions - Subtractions = Ending

🤩 DASHBOARDS → here comes my favorite part. When you have your information, it’s time to present them in a pretty & professional manner. Focus on a cohesive color scheme, and assets around data, charts, and other objects

===

OK…that’s my download on everything I know about FP&A

but there’s so much more to it!

What would you add?

Join the discussion in the comments below 👇

I live and breathe 2 things...

Finance & Accounting + Startups

Here's what I do:

--> I share Finance & Accounting Best Practices & Advice everyday 

Those usually involve suggestions for running a SMOOTH Finance & Accounting function...filled with some pretty design 


--> I'm also the CEO of an excited Fractional CFO firm (Mighty Digits), filled with some really great minds...

...accomplishing some real big things like:

- Building WORLD CLASS Financial Models for Startups that have gone on to raise over $400M (!) in the last few years 

- Building clean & appealing Dashboards giving VISIBILITY to the CEO, Board Members, and Investors FAST 

- Supporting 40+ high growth startups in everything and anything you could expect out of a Finance & Accounting function..

I'd love to connect and learn more about how we can work with one another - drop me a note at josh@mightydigits.com

Learn about the Chart of Accounts 👇

What is the Chart of Accounts?

The Chart of Accounts is a list of your General Ledger (GL Accounts) that make up your financial statements (specifically, your Profit & Loss and Balance Sheet)

Your Chart of Accounts can make or break your financial statements

When set up poorly they…

☹️ Confuse the reader

☹️ Don’t tell an accurate picture of what’s happening

☹️ Make it challenging to draw insights

Here’s are some tips for avoiding these mistakes:

➡️ Understand WHO the readers of the financial statements are

Before we can decide how our financial statements will look, we must understand who is consuming this data.

Your job is to make this data easy for this audience to consume!

➡️ Apply the proper balance between DETAIL and SUMMARY

The readers of the financial statements should be able to grasp what’s happening with the business, with just the right level of detail…

not too much, and not too less.

Avoid using accounts that can be grouped into one while maintaining the same significance

and avoid using accounts that are too general that would require further commentary to understand

➡️ Include SECTIONS

Your financial statements should have a proper order where the readers can understand key accounts and how they relate to one another.

Combining accounts into sections can help improve readability, allowing the audience to grasp what’s happening more quickly

➡️ use NUMBERING

Most Accounting Software will sort your chart of accounts alphabetically by default.

This may not cause much of an issue, but can become challenging to organize as your chart of accounts grows.

Adding numbering helps you maintain greater flexibility in your ordering, and when set up properly, can help the reader spot out patterns in how certain accounts are numbered

➡️ Set up DEPARTMENTAL TRACKING

Understanding what you’re spending money on is helpful…

Understanding WHO is spending that money is even more helpful

That’s where departmental tracking comes in

Here, you have 2 options:

1️⃣ Utilize a “class” for each transaction

2️⃣ Add each department as a new section on your Chart of Accounts

===

Those are a few of my suggestions for keeping your Chart of Accounts healthy & clean

What would you add?

Let me know in the comments below 👇

Master the art of Financial Storytelling 🧑‍🏫 
Your numbers tell a story, but are you telling it right? 👇

Numbers without context are just digits on a page. The real power comes from transforming those numbers into insights that drive action.

➡️ COMMON MISTAKES IN FINANCIAL REPORTING

Let's start with what NOT to do when presenting financials:

1️⃣ Dropping raw numbers without context
Raw data overwhelms your audience. When you say "Revenue grew to $100K," what does that mean for the business?

2️⃣ Reading slide content word-for-word
Your presentation should add value beyond what's written. Share insights that aren't visible in the numbers.

3️⃣ Rushing through without pausing for questions
Financial data needs time to digest. Create moments for discussion and clarification.

➡️ BUILDING A COMPELLING FINANCIAL STORY

Here's how to transform your financial presentations:

1️⃣ Start with the fundamentals
Always begin by establishing context. What's normal? What's exceptional? What benchmarks matter?

2️⃣ Connect data points to strategy
Show how financial results link to business decisions. If working capital improved, explain which specific actions drove that improvement.

3️⃣ Use comparisons effectively

- Period over period changes
- Budget vs actuals
- Year over year trends
- Industry benchmarks

4️⃣ Structure your narrative

- What happened?
- Why did it happen?
- What does it mean for the future?
- What actions should we take?

➡️ COMPONENTS OF GREAT FINANCIAL STORYTELLING

1️⃣ Clear Dashboards
Start with a clean, focused view of KPIs that matter most. Don't overwhelm with data.

2️⃣ Strategic Context
Show how financial results connect to company goals and market conditions.

3️⃣ Forward-Looking Analysis
Use current data to paint a picture of future opportunities and challenges.

4️⃣ Action Items
End every presentation with clear next steps and decision points.

➡️ PRACTICAL TIPS FOR IMPLEMENTATION

1️⃣ Know your audience
CFO needs different details than the marketing team. Adjust your depth accordingly.

2️⃣ Use visual aids
Graphs and charts can illustrate trends better than tables of numbers.

3️⃣ Practice active listening
Watch for confusion or disengagement. Adjust your presentation based on real-time feedback.

4️⃣ Create discussion points
Plan specific moments to pause and engage with your audience.

===

Remember: Financial storytelling isn't about making numbers sound good. It's about helping stakeholders make informed decisions.

What techniques do you use to make financial data more engaging?

Share your thoughts in the comments below 👇

If you're not doing budget vs actuals every month, you don't have a budget. You have a wish list.

Building the budget is step one.

Analyzing it every single month is where the value gets created.

→ The Monthly Ritual

Every month after close, you pull your actuals into the model.

Then you compare. Line by line. What did you project? What actually happened?

Revenue came in 15% below plan. Why? Was it timing? Lost deals? Churn you didn't anticipate?

Operating expenses ran 10% over. Which departments? Which line items? Was it a one time thing or a pattern?

This isn't busy work. This is how you understand what's happening in your business.

→ When Assumptions Go Stale

Every budget is built on assumptions. Growth rates. Headcount timing. Expense projections.

Some of those assumptions will be wrong. That's expected.

The question is...how wrong? And for how long?

If your revenue assumptions were off by 5% in Q1, that might correct itself. Market timing. Delayed deals. Normal variance.

If your revenue assumptions were off by 30% and the trend is continuing...your budget is stale. Holding yourself to it doesn't make sense anymore.

→ The Discipline Question

Here's where most companies get it wrong.

Some re-forecast every single month. New assumptions. New projections. Constantly moving the goalposts.

That defeats the purpose. You lose accountability. You're always hitting your "budget" because you keep changing it.

Others never re-forecast. They created a budget in January and they're still comparing against it in October, even though the business looks completely different.

That's also wrong. You're measuring yourself against assumptions that stopped being relevant six months ago.

→ Finding the Balance

The best approach? Re-forecast quarterly. Maybe twice a year for more stable businesses.

Keep your original budget as the benchmark. That's what your board approved. That's what you hold yourself accountable to.

But create a working forecast that reflects current reality. Use that for operational decisions.

Compare actuals against both. You'll see where you are versus plan AND versus your latest expectations.

===

→ How Model Wiz Helps

Model Wiz connects to QuickBooks Online and generates your budget vs actuals dashboard with one click.

Your actuals pull in automatically. Variances calculate instantly. When the month closes, hit roll forward and everything updates.

Less time building reports. More time analyzing what the numbers mean.

Book a call using the link in the comments to see how Model Wiz can help.

10 Common Journal Entries (with debits & credits) 👇

Adjusting journal entries are the heart and soul of a month end close…

and they usually all involve any of these 10 entries:

1️⃣ Deferred Revenue

When payment is received

DR Cash
 CR Deferred Revenue

When revenue is earned

DR Deferred Revenue
 CR Revenue

2️⃣ Prepaid Expense

When you purchase something

DR Prepaid Expense
 CR Cash

When you incur an expense

DR expense (ex: office supplies)

 CR Prepaid Expense

3️⃣ Depreciation

DR Depreciation expense

 CR Accumulated Depreciation


4️⃣ Accrued Expense

DR expense (ex: office supplies)

 CR accrued expenses

5️⃣ Inventory

when inventory is purchased

DR Inventory (or raw materials / WIP / finished goods)
 CR cash

When goods are sold

DR COGS

 CR Inventory (or related acct)

6️⃣ Accrued Interest

DR Interest Expense
 CR Accrued Interest 

7️⃣ Security Deposit

DR Security Deposit
 CR Cash

8️⃣ Intercompany balances

If money is sent to affiliate co
DR Due to/from affiliate co
 CR Cash

flip the order if cash is received

9️⃣ Accrued Payroll

When cash is paid..

DR Accrued Payroll
 CR Cash

When reconciling payroll…

DR Payroll expense
 CR Accrued Payroll

🔟 Amortization

DR Amortization expense
 CR Accumulated Amortization

===

Way to go - now you know your Debits & Credits! 👏

The key is to not only book your journal entries, but to have the proper workpapers that support each number.

Got any others to add

Let me know by joining in the in the comments below 👇

The Guy Behind the Most Beautiful Dashboards in Finance & Accounting | 450K+ Followers | Founder @ Mighty Digits

Veerabhadraiah T

This is the EXACT deferred revenue template I use to close books for my clients…
And on January 22nd, I'm giving it away for FREE 👇
https://lnkd.in/eCT2Kshz
I sell this template for $40 on my website.

But everyone who registers for my upcoming webinar with Zenskar gets it at no cost.

Let me tell you why this thing took me YEARS to get right.

I've closed the books for over 100 companies.

Every. Single. One. Had the same nightmare with deferred revenue.

Contracts piling up. Usage-based pricing that doesn't fit any formula. Amendments that blow up your spreadsheet the moment you think you're done.

I was so frustrated watching the same chaos repeat itself.

So I built something that actually handles the mess.

I refined it through dozens of client engagements. Every edge case I ran into, I fixed. Every formula that broke at scale, I rewrote.

Here's what's inside:

✅ Daily revenue recognition that calculates automatically

✅ Contract tracking with start dates, end dates, and total values

✅ Monthly columns that roll forward without manual updates

✅ Opening balance, invoices added, revenue recognized, ending balance

✅ Annual, quarterly, and monthly views all in one place

✅ LET formulas that make the whole thing readable and scalable

This is the exact workpaper I use when I close books as a fractional CFO.

Not some generic template I threw together. The real thing.

On January 22nd at 2pm ET, I'm walking through how to use it live.

I'll show you the formula logic. 

How to adapt it to your contracts. 

And when this approach stops working and you need something more robust.

Grab your spot here 👉 https://lnkd.in/eCT2Kshz

Become a Fractional CFO

Over the last decade, the demand for fractional CFOs have exploded 💥

and for good reason…

Fractional CFOs give you the perfect blend of a professional who can manage your finances…

without the burden or extra costs of hiring a full time employee.

But how do you become a Fractional CFO?

Here’s how I did, and how you can too 👇

➡️ CHOOSE YOUR FOCUS

Most Fractional CFOs find a niche to start off with…

that niche will help you get in front of the right prospects… 

and position yourself as an expert in that industry.

➡️ CHOOSE YOUR SERVICES

Most Fractional CFOs focus on a set of services that they’ll provide…

often times including strategic planning & oversight into the entire financial picture.

Depending on the organization, it’s possible for a Fractional CFO to also have his/her hand in other areas…

such as preparing financial statements…managing audits, and more.

➡️ CHOOSE HOW YOU WILL CHARGE

There are a ton of ways that you can charge your clients.

Most people start off with charging hourly, since that’s the simplest.

Others charge a retainer, or a success fee.

Whatever you charge, ensure that it is in line with our ultimate goals, and that your pricing structure is easy to understand.

➡️ FIND YOUR CUSTOMERS

Now comes the billion dollar question…

how do you find customers?

The truth is, there is no one answer.

It’s a matter of trying a ton of things, and seeing which ones yield the best results.

My favorite approach for anyone starting out is to announce what you’re doing to everyone in your network…

from there, finding relevant partners who can continuously refer you business can be the most lucrative…but also the most challenging to find.

The idea is that once you build up a loyal customer base, the growth should compound…

with each happy customer making referrals for additional customers.

➡️ PROVIDE VALUE

You don’t want to skip this one 😄

The best Fractional CFOs are able to take the really complex information…

distill it down to very simple language…

and explain to management what is happening vs what actions need to be taken to accomplish objectives.

➡️ SCALE

Now you’re completed steps 1-5….it comes time to scale.

Some Fractional CFOs want to grow a full team, and eventually run a full practice.

Others want to stay solo, and work with just a few clients each month.

Whatever your approach is, it’s important to continuously stay ahead of what’s happening in the industry…

and my favorite approach is to network with other likeminded individuals.

===

Those are my steps for how you can become a Fractional CFO…

but there’s so much more to it.

What would you add?

Let us know by joining in on the discussion in the comments below 👇

EBITDA vs Cash Flows

2 popular metrics that many think are the same…

but can wildly differ

Let’s dispel the myth…but first, some basic definitions

➡️ What is EBITDA?

The literal definition is

Earnings
Before
Interest
Tax
Depreciation
Amortization

➡️ How do You Calculate EBITDA?

Start with Net Income…

[+] Add back your interest expense

[+] Add back your taxes

[+] Add back your depreciation

[+] Add back your amortization

➡️ What are Cash Flows?

As the name suggests, this is the amount of cash entering / leaving your bank account

It’s commonly presented on a statement of cash flows under either the Direct Method or Indirect Method

➡️ How do you calculate Cash Flows?

Very simple: Ending cash - beginning cash

➡️ How does EBITDA and Cash Flows differ?

EBITDA revolves around activity on your Profit and Loss…

though it isn’t a GAAP metric, so you won’t find it on your P&L

Cash flows on the other hand revolve around both your Profit and Loss AND your Balance Sheet

Here are a few examples of how these 2 metrics can end up being wildly different:

🤔 What if 90% of your customers paid you net 30? Your EBITDA could look better than your cash flows

🤔 What if you acquired a huge piece of machinery (Fixed Asset)? Your EBITDA could look better than your cash flows

🤔 What if you charge your customers for 12 months upfront (common in ARR business models) Your Cash flows can look better than your EBITDA

🤔 What if you incurred a ton of expenses, but your vendors agreed to allow you to pay net 30? Your Cash flows can look better than your EBITDA

To sum it up, each metric should be used independently…there is no one size fits all.

➡️ Do I think EBITDA is a good measure for cash flows?

Well…it depends on the business

Here are some use cases where the 2 metrics can be similar:

💡 Businesses who don’t invest a heavy amount in Fixed assets

💡 Businesses that don’t have a large amount of debt / financing

💡 Businesses who don’t have large activity around receivables / payables

===

Those are my thoughts on how EBITDA differs from cash flows

What would you add?

Let me know by joining the discussion in the comments below 👇

Building the budget is the easy part. Most finance teams fail at what comes after.

Get it approved. Submit it to the board. Move on.

But that's where the real work begins.

Your board isn't asking for a plan...they're asking for accountability.

→ What Does Accountability Look Like?

It starts with memorializing your budget.

Once your board signs off on your 2026 plan, you save that version. You lock it. You don't touch it.

This becomes your benchmark for the entire year.

Every month, you compare actuals against this memorialized version. Not against some forecast you tweaked last week. Against the original plan.

→ The Monthly Actualization Process

Every month after close, you pull actuals into the model.

January closes. You actualize January. February closes. You actualize February.

You're comparing what happened against what you said would happen.

Where did you beat the plan? Where did you miss? Why?

This is where real conversations happen. Not reporting numbers...explaining the story.

→ When Variances Get Too Big

Your assumptions will be wrong. That's not failure. That's reality.

Revenue might come in lower. Expenses might spike. Cash might move differently.

When variances get significant, you have a choice.

Keep holding yourself to a budget that no longer reflects reality...or do a re-forecast.

A re-forecast doesn't mean you failed. It means your business changed.

The mistake? Companies either re-forecast too often (every month) or never at all.

Most companies re-forecast quarterly. Find what works for your business.

→ Why Your Board Cares

Your board isn't trying to catch you missing targets.

They want to know their investment is in good hands. They want confidence that you understand what's happening and that you're making decisions based on real data.

When you show up every month with actuals compared against budget, with clear explanations for variances...

That's when boards trust you. That's when they approve your next budget without pushback.

→ How Model Wiz Helps

Model Wiz connects to QuickBooks Online and generates your three statement model with one click.

The drivers tab is already structured. Your actuals pull in automatically. When February closes, hit roll forward and everything updates.

Less time pulling data. More time explaining the story to your board.

Book a call using the link in the comments to see how Model Wiz can help.

3 weeks left. 5 clients. 5 budgets. All due in January
Every client needs their 2026 budget finalized. CEOs are asking. 

Boards are waiting. Investors want projections before they write another check.

And as a fractional CFO, you have to build them all at once.

→ Part 1: What Needs to Be in Your 2026 Budget

Every solid budget for an SMB starts with a three-statement model.

Your P&L shows projected revenue and expenses. Your Balance Sheet shows assets, liabilities, and equity. 

Your Cash Flow shows where cash comes from and where it goes.

These three connect. P&L flows into Balance Sheet. Balance Sheet drives Cash Flow. Miss one connection and the whole model breaks.

You also need a drivers tab. This is your control center. 

All assumptions live here. Revenue growth. Expense projections. Headcount costs. Everything that drives your numbers sits in one place.

Then layer in your revenue forecast, your headcount plan with salaries and start dates, and your operating expenses.

→ Part 2: How to Actually Build It

Start with your historical data. Your actuals are the foundation. Pull from January 2023 through your latest closed month. 

This gives you context for projections and a reality check on assumptions.

Build your drivers tab first. Structure it with historical data on the left, projections on the right. Every P&L and Balance Sheet item pulls from this tab.

Connect everything. Your income statement feeds the balance sheet. Changes in balance sheet accounts flow into cash flow. 

Set up error checks to catch breaks before stakeholders do.

For projections, start simple. Take a trailing average with a buffer for growth on most line items. Build specific assumptions for revenue and headcount.

Then create your summary views. Boards and CEOs don't want 50 rows. They want the story.

→ Part 3: How Model Wiz Helps

Building this structure from scratch takes hours. For each client.

Model Wiz connects to QuickBooks Online and pulls your actuals automatically. It generates the three-statement model with one click. The drivers tab is already built. 

The connections are already set.

You get 80% of the model done instantly. Then you layer in your assumptions, your revenue forecast, your headcount plan.

And when February comes? Hit roll forward. Your actuals update. No manual exports. No reformatting.

You keep all the flexibility of Excel. You just skip the hours of setup.

If you want to see how Model Wiz can help you get through budget season, book a call using the link in the comments.

I went head-to-head with Claude for Excel to build a complete financial model.
https://lnkd.in/eh_8fCbx

Four rounds.
Four critical components every CFO needs.
And the results shocked me.

Here’s what I tested 👇

Round 1: Three-Statement Model
I uploaded 2 years of historical data (income statement and balance sheet) and asked Claude to build projections through 2027.

What impressed me:
Claude built a drivers tab, caught formula errors in real time, and even detected that I was referencing the wrong column in my projections. It fixed it automatically.

The self-QA was honestly incredible.
It spotted issues I didn’t even notice.

Round 2: Revenue Build
I gave Claude raw transaction data and asked it to create a revenue waterfall with customer cohorts, churn analysis, and growth projections.

Claude built customer segments, calculated retention rates, and created a solid revenue model.
But there were gaps in how it handled more complex scenarios that investors would definitely question.

Rounds 3 and 4: Headcount Model and KPI Dashboard
This is where things got interesting.

One of these Claude absolutely nailed.
The other was a major disappointment.

I’m not going to spoil which is which, but I will say this:
One mistake in headcount modeling once cost a company I worked with millions in untracked cash burn. So I have strong opinions here.

The real question:
Claude is in beta right now.
And it’s already doing things that would’ve taken me hours just a year ago.

What happens in 6 months?
A year?

I’d be lying if I said I wasn’t both impressed and a little concerned.

But here’s the thing.
I’m not trying to compete with AI.
I’m learning to work alongside it.

Want to see the full breakdown and find out who won each round?

Your 2026 budget doesn't end when the board approves it. 

That's when the real calendar begins.

Budgeting isn't a once a year event.

It's a cycle that runs all 12 months.

Miss a step and your forecast becomes stale. Follow the calendar and you always know where you stand.

→ January: Reconcile and Finalize

Start by closing out the prior year. Reconcile your actuals. Make sure everything ties.

Then finalize your budget for the new year. Meet with department heads. Get their input on headcount, expenses, revenue expectations.

Lock it down. Get sign off from management and the board.

This is your memorialized version. The benchmark you'll compare against all year.

→ Q1: Actualize Monthly

Every month after close, pull your actuals into the model.

Compare what happened against what you projected. Look for variances. Understand why they occurred.

By the end of Q1, you have three months of real data. You're starting to see patterns. Some assumptions are holding. Others aren't.

→ April: The Re-forecast

This is the checkpoint most companies skip.

You've got a full quarter of actuals. You know where your original assumptions were off. Now is the time to re-forecast the remainder of the year.

Don't throw out your original budget. Keep it as your benchmark.

But create a new forecast that reflects what you've learned. Updated revenue expectations. Adjusted headcount timing. Revised expense projections.

This becomes your working forecast for Q2 through Q4.

→ Q2 and Q3: Continue the Cycle

Keep actualizing monthly. Keep comparing against both your original budget and your updated forecast.

Some companies do another re-forecast at the end of Q2. Others wait until Q3.

Find what works for your business. The point is to never go more than a quarter without checking your assumptions.

→ Q4: Start the Cycle Again

By October, you're already thinking about next year.

What did this year teach you? Where were your assumptions off? What should you do differently?

The budgeting calendar never stops. It just rolls forward.

===

→ How Model Wiz Helps

Model Wiz connects to QuickBooks Online and generates your three statement model with one click.

The drivers tab is already structured. Your actuals pull in automatically. When the month closes, hit roll forward and everything updates.

No manual exports. No reformatting. Just actualize, analyze, and move on.

Book a call using the link in the comments to see how Model Wiz fits into your budgeting calendar.

If you're still closing books the same way you did in 2025, you're already behind.

On January 22nd, I'm hosting a free webinar with Zenskar on how controllers are closing books in 2026.

Comment "CLOSE" below and I'll send you the invite 👇

Controllers with complex contracts know this feeling too well.

You've got usage-based pricing. Amendments stacking up. Multi-element arrangements everywhere.

And every month it's the same battle with deferred revenue, prepaid expenses, and accrued liabilities.

Your Excel workpapers keep getting longer. The formulas get messier. One broken link and everything downstream falls apart.

This worked when you had 20 contracts.

Now you've got 80. Maybe more.

And the close that used to wrap up in week one is bleeding into week two.

I've built close processes for over 100 SaaS companies. I see this pattern constantly.

2026 is different though.

AI-enabled ledgers. Automated bank feeds. Modern rev rec tools that didn't exist two years ago.

What's possible now has completely shifted.

Here's what we'll cover:

-The 5-stage close cycle and where each stage breaks down with manual processes

-Live balance sheet reconciliation with my actual deferred revenue workpaper

-How to handle prepaid expenses, accrued expenses, and deferred revenue at scale

-The 2026 toolkit: AI ledgers, automated feeds, modern rev rec tools

-When Excel stops scaling and what signals it's time to upgrade

Everyone who attends gets my deferred revenue template with the LET formulas I actually use.

Comment "CLOSE" and I'll send you the link 👇

If you run a professional service firm, there’s one skill you must master that nobody talks about.

It’s not financial modeling, month end close, or forecasting.

It’s babysitting.

I’m serious. After getting my master’s in accounting and my CPA, I somehow ended up spending half my time chasing clients for basic information.

Not exactly what I pictured when I started my firm.

But here’s the thing. Master this skill and you’ll grow faster, keep clients longer, and avoid disasters caused by things falling through the cracks.

Here’s why client management matters more than technical skills.

→ The Why: The Foundation

Your clients depend on you to keep them compliant and maximize the value of your services.

Without active management, value erodes, risks pile up, and the relationship weakens.

You’re not just doing their books. You’re effectively managing their finance function, whether they realise it or not.

→ The Challenge: What Actually Goes Wrong

Slow responses
Clients are busy. Delays create bottlenecks and push critical work back.

Disengagement risk
Giving up on a client has consequences, especially if they keep paying. Lost momentum often leads to lost revenue.

Resource drain
Constant follow-ups eat into margins and capacity. Managing this without hurting quality is the real balancing act.

Mixed signals
Without clear communication, clients don’t know what’s expected of them or what you need to deliver value.

→ The How: Four Simple Strategies

Send reminders
Reach out proactively via email or messages.
Make requests clear and explain why they matter.
Don’t wait until the last minute. Keep following up until you get what you need.

Make decisions
When clients don’t respond, don’t wait forever.
Set decision points and move forward with your best judgment.
They hired you to be their eyes and ears on finance.

Track deadlines
Keep a master timeline of deliverables and milestones.
Visibility prevents surprises and keeps everyone aligned.
If a company will run out of cash in six months, the CEO should know well in advance.

Disclose regularly
Share your running to-do list with clients.
Transparency builds trust and keeps expectations clear.
Flag what needs attention and follow up until it lands.

==

When I started my firm, I lost money because clients were slow to send information.

We billed hourly, so no info meant no billable hours.

That’s why we switched to fixed pricing. We charge at the start of each month, regardless of turnaround time.

But don’t get too comfortable. If clients wake up and realise they’ve paid for months of work that didn’t move forward, it won’t matter who’s right.

They’ll find someone better at managing them.

It took getting burned a few times to accept this, but babysitting clients is part of the job.

Next time you feel like giving up on a non-responsive client, think again

You might even want to include “babysitting” in your scope of services

What’s your experience been with managing client communication?

How to win Clients as a Fractional CFO
Study these channels to grow your firm 👇

Let’s break it down:

➡️ NETWORKING EVENTS

Show up where your ideal clients gather. Industry-specific events are opportunities to spot businesses needing financial guidance. 

One genuine conversation here often turns into a long-term client relationship. I've landed some of my biggest clients just by being in the right room.

➡️ COLD OUTREACH

Skip the templates. Craft proposals that show you've studied their business inside out. 

When you speak directly to their financial pain points, decision makers take notice. 

Your first message should make them think "this person gets my business."

➡️ WEBINARS & WORKSHOPS

Monthly financial planning sessions are your stage. Share frameworks that business owners can use right now. The best part? Every attendee becomes a warm lead. 

➡️ PARTNERSHIPS

Business attorneys and tax firms want the same thing you do - client success. Build referral systems that make sense. 

When everyone wins, your business grows naturally. 

➡️ ONLINE COMMUNITIES

Finance groups need expert voices. Jump in, solve problems, build authority. Don't sell - serve. The clients will follow. 

Focus on giving real value first, and watch how quickly you become the go-to expert.

➡️ INFLUENCER MARKETING

Team up with business coaches who get it. Create content that shows real financial impact. 

Their audience becomes your audience. 

Choose partners whose values match yours - authenticity sells.

➡️ PODCASTS & KEYNOTES

Share war stories that matter. Focus on transformations, not theory. Business owners want proof, not promises. Every speaking engagement is a chance to demonstrate your expertise to dozens of potential clients.

➡️ LINKEDIN ENGAGEMENT

Post daily insights about financial challenges your target market faces. Comment thoughtfully on posts from potential clients. 

Share client success stories (with permission). The platform rewards consistency and value.

➡️ SEO & BLOGGING

Create content that ranks for what your ideal clients search. Focus on specific pain points and solutions. 

Each article should offer actionable tips a business owner can implement today. This builds trust before they ever reach out.

===

🤔 The beauty of this playbook? 

You don't need to implement everything at once.

Start with what resonates most with your style. Test, measure, and expand from there.

What methods are you using? And have I missed anything?

Join us in the comments below 👇

Most firm owners operate without a clear strategy.

They're busy with client work, putting out fires, and reacting to whatever comes up next.

I've been there...and it's exhausting.

But the firms that grow consistently are the ones that pause regularly and ask themselves the hard questions about where they're going and how they'll get there.

Here are 20 questions every firm owner needs to answer:

→ Purpose & Direction

What's our mission in one clear sentence?

Why does our firm exist, and who do we serve best?

What values drive how we deliver accounting services?

Where do we want our firm to be in 3 years?

What would success look like if nothing limited us?

→ Market & Advantage

Who is our ideal client (by size, industry, and need)?

What financial pain points do our clients face daily?

What's changing in the accounting industry and how do we adapt?

Why do clients choose us over competitors?

Which monthly services can we offer that clients find irreplaceable (KETO Mojo, tax, automation, and advisory)?

→ Goals & Metrics

What are our top 3 priorities for this quarter?

What does client success look like for us?

What's the one metric that matters most for measuring client satisfaction, retention, or cash flow utilization?

How do we know progress each month?

What milestones will tell us we're scaling successfully?

→ Actions & Tactics

When and how will we pause, check in, and adjust course?

What quick wins can generate momentum (updating automation, prioritizing upselling current clients)?

What bottlenecks or inefficiencies slow us down and how do we fix them?

Who owns each segment and who by when?

What must we deliver in the next 90 days to move forward (new systems, client onboarding)?

===

I review these questions quarterly with my team...and every time we do, we find something we've been ignoring or something that needs to shift.

The firms that fail aren't the ones with bad answers...they're the ones that never ask the questions.

Set aside time this quarter to go through these with your team.

You'll be surprised how much clarity comes from just writing down the answers.

What questions do you ask yourself when planning your firm's strategy?

Let me know in the comments below 👇

Most accounting firms grow the same boring way.

Cold outreach. Referrals. Maybe some LinkedIn posts.

Here are six strategies that position you as the innovator in your market while everyone else competes on price.

→ Demystify Complexity. Showcase Expertise.

Stop hiding your knowledge behind jargon.

Your clients don’t understand what you do, and that’s a problem.

I started creating visual breakdowns of month-end close, cash flow waterfalls, and revenue recognition.

Not for clients. For prospects.

Show exactly how you solve problems.

When someone sees you turn a complex tax strategy into something simple, they think, “this person gets it.”

And they hire you.

→ Flip the Proposal Script.

Most firms send proposals that read like legal documents.

Pages of services, terms, and pricing tables.

I flipped it.

Instead of “here’s what we do,” I lead with “here’s what you’re dealing with.”

Cash flow issues? I show the burn timeline.
Messy books? I show what clean looks like.

Then I position our services as the solution to their pain.

Proposals became conversations, not documents.

→ Cross-Pollinate Expertise.

Most firm owners never talk to each other.

I started hosting monthly roundtables to share what’s working.

One firm automated AP. Another fixed onboarding. Another built an offboarding process that retains 30% of “lost” clients.

Everyone leaves with ideas they can implement immediately.

You don’t compete with every firm. Find ones in different niches and share notes.

→ Monetize Your Declined Clients.

This changed everything.

We used to turn away clients who weren’t a fit.

Now we funnel them.

If they can’t afford full CFO services, we offer a $500 strategy workshop.

They get value. We get paid. And 20% come back within six months.

That’s over $50K this year from clients we used to say no to.

→ Compete in Public. Win Clients, Not Awards.

Some firms spend $10K sponsoring award ceremonies.

Nice trophy. No clients.

We started doing live “showdowns.” Comparing models, debating tax strategies, breaking down real scenarios.

Public. Transparent. Educational.

Awards don’t close deals. Demonstrated expertise does.

→ Sell Certainty, Not Compliance.

Most firms sell tax prep or month-end close.

That’s compliance.

Clients want certainty.

“Can I make payroll?”
“Can I hire?”
“Should I take this deal?”

When you sell certainty, price becomes secondary.

You become the advisor they can’t afford to lose.

===

These six strategies will separate you from every other firm in your market.

Pick one and test it this quarter.

Which one are you trying first?

Most firm owners are drowning in disorganization and don’t even realise it.

We didn’t.

For years we juggled Asana for tasks, Hiver for emails, QuickBooks Time for hours, and Google Drive for files.

Everything was scattered.

A client email? Buried in a thread from weeks ago.
Time tracking? Sitting in a spreadsheet no one updated.
Who’s working on what? Spread across four tools.

When we hit six employees, it broke.

I’d see an email in the group inbox, assume someone replied, leave it unread… then realise three days later nobody had answered.

That’s when Tracey stepped in and said we had to fix this.

After months of research, we landed on Carbon.

Best decision we made in 2025.

→ Client Lifecycle Management

Intake forms now trigger onboarding automatically.

Client signs up, Carbon creates the workspace, assigns initial tasks, done.

Recurring work schedules itself.

AP twice a month? Auto scheduled.
Weekly payroll? Auto scheduled.

We’re not creating tasks manually anymore. The system does it.

→ Workflow Tracking

Templates keep everything consistent.

Month-end close looks the same across all 40 clients.

Same steps. Same checks. Same order.

When staff finishes a task, Carbon automatically pushes it to the manager.

No more “did you finish that?”

Deadlines track themselves. Overdue work surfaces automatically.

I can see what’s happening in real time without chasing updates.

→ Team Collaboration

Work is crystal clear.

Open Carbon, see your tasks, do the work.

All communication lives inside the client timeline.

If I need someone to respond to an email, I assign it with notes. No forwarding. No messy threads.

@mentions notify the right people instantly.

→ Time & Billing Automation

This part surprised me.

There’s a simple timer.
Select client, select task, hit record.

Time logs automatically.

Even better, Carbon suggests missing time.

If you worked on a client but didn’t log it, Carbon flags it.

No more lost billables.

It tracks billable vs non-billable automatically, so invoices are one click.

→ Client Communication Hub

Carbon sits on top of Gmail.

Every client email gets captured in one place.

I can see unread emails across all clients at a glance.

Files, emails, tasks, everything lives in one timeline.

When someone senior needs context, they scroll for a few minutes and they’re caught up.

No digging through inboxes.

===

We used to spend 15+ hours a week on coordination.

Now it’s closer to three.

If you’re using separate tools for tasks, email, time tracking, and files, you’re bleeding hours every week.

Tools worth checking out: Carbon, Keeper, Canopy, Karbon, Liscio.

We use Carbon and it’s been worth every penny.

What practice management tool does your firm use?

Your output isn't determined by the amount of time you have.

It's determined by the energy you bring to that time.

Think about it...you can feel drained and have 8 hours go by while accomplishing close to nothing.

You can also be fired up and accomplish more in one hour than most people do in a full day.

I learned this the hard way after burning out multiple times trying to cram more into my calendar.

Here's what changed for me:

→ Your Energy Follows a Wave Pattern

Throughout the day, you have peaks and dips.

Just like heart rate, sleeping patterns, and light cycles...energy follows a wave.

It's up to you to structure your day where you concentrate deep focus at certain times and recovery during others.

If you don't optimize, you'll find yourself burnt out and unproductive.

→ Perform an Energy Audit

One of my favorite books I read in 2024 was Buy Back Your Time by Dan Martell

He suggests asking yourself: Where am I focusing my energy throughout the day? What activities give me energy? What activities drain me?

Energy Givers:

Closing new opportunities & meaningful wins

High quality conversations with clients

Positive feedback on your work

Genuine team connections

Solving challenging problems

Energy Drainers:

Difficult client interactions

Performance management conversations

Losing business relationships

Administrative busywork with no growth value

If you're a firm owner, this exercise is crucial...it allows you to delegate tasks that drain you while doubling down on the ones that fuel you

→ Build Your Perfect Week

Structure your calendar to maximize energy, not just fill time

Block 90 Minute Deep Work Sessions: Schedule focused work when your energy is highest and protect these blocks fiercely

Batch Similar Tasks Together: Group meetings and tasks by type to eliminate energy draining context switching

Schedule Strategic Recovery: Build in breaks after intense meetings or deep work...recovery is productive

Design Meeting Free Days: Reserve full days for uninterrupted work to maintain flow and momentum

I used to have an open calendar with a 15 minute buffer between each meeting

After implementing the optimal week approach, everything changed

Now instead of being reactive to what my calendar tells me to do, I'm proactive in planning my calendar ahead of time

I also experimented this week with "no meeting Wednesdays" and absolutely loved it...though my Tuesday was extra busy because of it

==

Founder burnout kills great businesses...managing energy is a competitive advantage, not a luxury

Optimize for the quality of your hours, not the quantity

I had a similar learning with cooking...I used to wash vegetables, cook them, then take out more while they were cooking

It wasn't until I learned about mise en place that I realized optimizing the sequence of tasks in blocks made everything more enjoyable and efficient

Same thing applies to how you structure your day

How do you structure your day to optimize for energy?

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