10/1/15 – Understanding Business Valuations

@QBOchat Welcome everyone to #QBOchat. Please introduce yourselves to the group -> Name, location & name of biz. #QBOchat
@XTBills Please, never change πŸ™‚ RT @Megsquito I’m catchin’ worms! #QBOchat
@TSheets_Debbie Hey everyone! Debbie with TSheets PRO Support here. Happy Thursday! #QBOchat
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@ChristineGalli Hi @TSheets_Debbie πŸ™‚ #QBOchat
@alisonatintuit HI everyone! Alison from Intuit here – at my desk in sunny Mountain View CA! (aka Intuit Mother Ship) #QBOchat
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@QBOchat .@CathyIconis here behind the @QBOchat handle. I’m the CEO of @IconisGroup and I’m in Atlanta, GA. #QBOchat
@Unblakeable About to start my valuation Tweetchat #QBOChat.
@expensify @QBOchat Natalie here hangin’ solo in SE Asia (Cambodia to be exact). It’s 2AM here, let’s #qbochat!
@TSheets_Debbie Hi @ChristineGalli! Great to see you! #QBOchat
@Megsquito Hey friends! Meg B from Intuit Tucson here-visit me at https://t.co/Zhc2ZlyZuB outside of #QBOChat with q’s! #QBOchat
@ServelloCPA Ready for another #QBOchat ! Vinnie Servello here from Boston #QBOchat
@XTBills Sara @formerlyvodak here for XTBills (the coolest kids on https://t.co/vLXouDNEcR) in Plano, TX. Can’t wait for @unblakeable! #QBOchat
@QBOchat @expensify Holy cow!! That is commitment! Thanks so much for joining us today! #QBOchat
@QBOchat Today is all about Understanding Business Valuations. Please share your thoughts and comments as we go. #QBOchat
@XTBills Going global! RT @expensify @QBOchat Natalie here hangin’ solo in SE Asia (Cambodia to be exact). It’s 2AM here, let’s #qbochat! #QBOchat
@vheckman @QBOchat Valerie from Intuit from beautiful Illinois. Happy October everyone! #QBOchat
@shaunamaher @QBOChat Happy Thursday, all! Shauna here from @IntuitAccts social team in Mountain View, CA! #QBOchat
@expensify @QBOchat Wouldn’t miss it… even across the world! 🌏#QBOchat
@Megsquito Had any good food? MT @expensify @QBOchat Natalie here hangin’ solo in SE Asia (Cambodia to be exact)- 2AM here, let’s #qbochat! #QBOchat
@salt123 Staci from Intuit in rainy Reno #QBOchat
@QBOchat Remember you can chat live with us on our site: https://t.co/f0nCkMXnNH #QBOchat
@QBOchat We have the honor of being joined by @Unblakeable, an expert in Business Valuations. Introduce yourself @Unblakeable! #QBOchat
@jazfun Hi All!! hows my favorite bunch of Tweeters? #QBOchat
@accountingpeace Happy October! Jody from Olive Branch, MS. #QBOchat
@shaunamaher @expensify So fun! Hope you are all having a great time in Cambodia! #QBOchat
@alisonatintuit YAYYY! @jazfun is here! now we can get started πŸ™‚ #QBOchat
@jazfun Welcom @Unblakeable ! #QBOchat
@alisonatintuit @accountingpeace Hi Jody! #QBOchat
@expensify @QBOchat Thanks for joining us @unblakeable. We can’t wait to learn from you! #qbochat
@AustinNexus Brian Austin @avalara, glad to be back for #QBOchat!
@jazfun LOL @alisonatintuit great to see you! πŸ™‚ Party in start mode! Let’s learn about business Evaluations! @Unblakeable #QBOchat
@accountingpeace @alisonatintuit Hello Alison! How is life treating you? #QBOchat
@geneva_a23 happy Thursday everyone! #QBOchat
@jazfun Hey Geneva ! RT @geneva_a23 happy Thursday everyone! #QBOchat
@alisonatintuit @accountingpeace Living the dream – what can I say? πŸ˜‰ #QBOchat
@expensify @shaunamaher Thanks! We are… but it is SO hot, we are melting! #QBOchat
@jazfun Hey @AustinNexus welcome back.. adjusting back into reality? #QBOchat
@XTBills Not going to lie, going to have a hard time not singing the #unbreakablekimmyschmidt theme song every time @Unblakeable tweets… #QBOchat
@Kimtuitive You hear that? It’s #QBOchat time!! Kim Austin, @IntuitAccts Nat’l BDM, Palm Springs, CA #yesitsstilltanktopweatherinoctober Γ°ΕΈΕ’Β΅Γ’Λœβ‚¬Γ―ΒΈΒΓ°ΕΈΕ’Β΄Γ°ΕΈΛœΕ½
@jazfun LOL @Kimtuitive welcome back! LOVED your pics hope you got to rest! #QBOchat
@alisonatintuit @XTBills @Unblakeable that show was AWESOME. Can’t wait to see how unblakeable moves us past it today tho! #QBOchat
@alisonatintuit The energy is HIGH today! I’m loving it! #QBOchat
@jazfun Wow.. Packed house already! StandingRoom Only πŸ™‚ @ChristineGalli @shaunamaher @salt @QBOPro @BodeTree @TSheets_Debbie #QBOchat
@BodeTree BodeTree here, ready to talk valuations for #QBOchat! #QBOchat
@TSheets_Debbie Hi @jazfun! #QBOchat
@AustinNexus @jazfun Hey Jan! Slowly but surely πŸ˜‰ #QBOchat
@accountingpeace Whoa…. @jazfun was on my screen!! #QBOchat
@jazfun Perfect! RT @BodeTree BodeTree here, ready to talk valuations for #QBOchat! #QBOchat
@jazfun LOL Did you see me wave @accountingpeace ? πŸ™‚ #QBOchat
@Unblakeable @Unblakeable @Unblakeable Great to chat! I am a recovering VC and inv. banker turned biz appraiser. https://t.co/VQBqqwnK7E #QBOchat
@vheckman Happy @Kimtuitive is back! Missed you, lady! #QBOchat
@Kimtuitive @jazfun Thanks, Lady – good to be home! We did have a great time though! We’ll look forward to our next vacation in 10 years! πŸ˜‰ #QBOChat
@Megsquito We have video chat in #QBOChat now?! Wow! #QBOchat
@QBOchat Who is ready for some #sponsorshoutout’s?? #QBOchat
@alisonatintuit @jazfun @accountingpeace we all did. You look great Jan! #QBOchat
@accountingpeace @jazfun I was reaching out to you like a star struck @googoodolls fan! #QBOchat
@jazfun @Kimtuitive That’s too long! take off that (0) and you will be good.. #VacayRecovery #QBOchat
@AeroWorkflow Hi @vrcqbpro here from Aero in the SF bay area – #learylate #QBOchat
@QBOchat We have a new sponsor this week! #QBOchat
@QBOchat #SponsorShoutout to @Tsheets our newest sponsor!! We love their time tracking App. https://t.co/UUQYeBnvKz #QBOchat
@accountingpeace LOVE!!! RT @QBOchat #SponsorShoutout to @Tsheets our newest sponsor!! We love their time tracking App. https://t.co/aOYhvq9RHb #QBOchat
@jazfun OH..You melt my heart! I’ll pay you laterRT @accountingpeace @jazfun I was reaching out to you like a star struck @googoodolls fan! #QBOchat
@Kimtuitive Missed you back! Great to be back in the swing of things…when you work with friends, you miss work! #QBOChat Γ°ΕΈΛœβ€ž https://t.co/QenNEh4lpz
@ChristineGalli We <3 @Tsheets #QBOchat
@QBOchat #SponsorShoutout to @Avalara who will handle all your sales tax compliance. https://t.co/Bn5tUrEqJn #QBOchat
@BizBooksCloud almost #learylate here #QBOchat
@QBOchat #SponsorShoutout to @Expensify. #ExpenseReports don’t suck with their App. https://t.co/g9WEVL5cRb #QBOchat
@trippeo Whoa! Our first #QBOchat – it’s so busy! Excited to see what goes on! #QBOchat
@BizBooksCloud Brent Blackburn here in Utah, owner of Biz Books Cloud LLC #QBOchat
@QBOchat #SponsorShoutout to @Fundinggates and their streamlined A/R Mgmt App. https://t.co/P041x2rLO3 #QBOchat
@jazfun #SponsorShoutout @Tsheets making #QBOChat STRONG #QBOchat
@alisonatintuit @BizBooksCloud welcome you guys! #QBOchat
@QBOchat #SponsorShoutout to @Fundera. Easily find and secure a #smallbiz loan with their App. https://t.co/1Dft0Dmp0d #QBOchat
@expensify @QBOchat We love @TSheets! Hey guys, welcome to the sponsor side πŸ™‚ #qbochat
@jazfun @BizBooksCloud great to see you! #QBOchat
@QBOchat #SponsorShoutout to @IconisGroup. Outsource your bookkeeping to these #QBOexperts. https://t.co/wSZQpeuoYU #QBOchat
@MariaSentic @jazfun I just got here too! From sunny Chicago #QBOchat https://t.co/SG6n1SPuas
@Kimtuitive Woo! I’m loving this TIME-Tracking news! #QBOChat! https://t.co/LdBc8XOKsq
@accountingpeace Can’t wait for my staff acct. @kelliemims to meet the fabulous @tsheets crew at #qbconnect #QBOchat
@QBOchat The first question is right around the corner, remember to use A1, A2, etc when answering a question. #QBOchat
@jazfun @Fundera .. Keeping it real with Money for your customers! #FundingSolutions #QBOchat
@accountingpeace And all you other Twitter celebs of course! #QBOchat
@TSheets_Debbie Thank you @QBOChat! So happy to be able to sponsor an awesome forum like this. #QBOchat
@BizBooksCloud Ditto! RT @jazfun @BizBooksCloud great to see you! #QBOchat
@jazfun @MariaSentic WELCOME! #QBOchat is so much fun you will have a great time! #QBOchat
@QBOchat Q1: When or why would a business need a business valuation? #QBOchat
@Kimtuitive @AeroWorkflow @vrcqbpro hey V! Great to Tweet you today! πŸ™‚ #QBOChat
@jazfun @MariaSentic we use @nurph.. makes life easy if you can! #QBOchat
@AeroWorkflow Glad you’re back Kim! RT @Kimtuitive @AeroWorkflow @vrcqbpro hey V! Great to Tweet you today! πŸ™‚ #QBOchat
@AeroWorkflow @QBOchat A1: when they want to sell their business. #QBOchat
@accountingpeace Hey @MariaSentic! Enjoying your Blog posts! #QBOchat
@alisonatintuit . @QBOchat A1 I think Business Valuations are especially valuable when negotiating partner agreements? Among other situations #QBOchat
@QBOPro @QBOchat A1. If they are trying to do some succession planning. #QBOchat
@jazfun @QBOchat A1: Want to bring in a partner or shareholder? Need a business evaluation #QBOchat
@BizBooksCloud A1 How about to sell it or to formulate a succession plan or for certain kinds of loans or for raising funds through investors #QBOchat
@WatkinSBS @QBOchat #QBOchat YEP, we’re here!!
@Megsquito @QBOchat A1 A Business Valuation is needed for getting some kinds of loans! #QBOchat
@expensify @QBOchat When more rounds are going to be raised! And I’m not talking about 🍻 #qbochat
@Megsquito Jinx!! MT @BizBooksCloud A1 How about to sell it or to formulate a succession plan or for certain kinds of loans #QBOchat
@MariaSentic @QBOchat A1. If they are selling the business! #winning #QBOchat
@ServelloCPA A1: Estate purposes when an owner passes. Or when someone gifts their business, business valuations are a must! #QBOChat
@Kimtuitive A1: When would your business NOT need a business valuation? #QBOChat
@qbclay good afternoon all. Hope you are well. Trying twubs out, but cannot see feed yet. #qbochat
@qbclay good afternoon all. Hope you are well. Trying twubs out, but cannot see feed yet. #qbochat and it is not sending πŸ™‚
@BizBooksCloud twubs is hit and miss #QBOchat
@QBOchat @qbclay Yeah, twubs and tweetchat both seem to be slow #QBOchat
@EileenRSassCPA Nurph does not like me today… πŸ™ #qbochat
@accountingpeace @QBOchat A1: They have a product to pitch on @abcsharktank #QBOchat
@QBOchat Really?? RT @EileenRSassCPA Nurph does not like me today… πŸ™ #QBOchat
@qbclay back on nurph #QBOchat
@WatkinSBS @QBOchat A1 – when selling, considering going public, growth, investors…tons of reasons. #QBOchat
@QBOchat Anyone else having issues today with the different sites? Just go straight here: https://t.co/wVli4aw1Li #QBOchat
@Kimtuitive @qbclay I wondered why #QBOChat just felt smarter all the sudden – Woody’s here!
@QBOchat @Unblakeable is in the nurph room now – you can see we had a ton of people answer Q1 so far. What do you think? #QBOchat
@expensify @QBOchat Yes! Just thought it was my slow Asia wifi connection! #qbochat
@jazfun LOL @Expensify did you make it to asia? So nice to meet you IRL! #QBOchat
@TaxPlannerPro A1: I think It is great to strengthen your creditability with your employees, keep them motivated! #QBOchat
@adsmith482 @QBOchat A1: If the company is issuing stock options or bank warrants – then they might need one every year #QBOchat
@Unblakeable You need a BV for 3 reasons. 1. Tax law requires. 2. GAAP requires. 3. To assist with a transaction or dispute. #QBOchat
@jazfun @QBOchat A1: taking your business public.. #Valuation #QBOchat
@qbclay Oh but I wish I could show you guys this new feature coming into QBOA/QBO soon #QBOchat
@Unblakeable When you buy or sell a house or car, you look up the value or have it appraised. It’s just as important with a business. #QBOchat
@qbclay oh my! #QBOchat
@BizBooksCloud That is sooooo wrong! RT @qbclay Oh but I wish I could show you guys this new feature coming into QBOA/QBO soon #QBOchat
@ChristineGalli @qbclay Give us a rundown on the QB Show #QBOchat
@QBOchat @BizBooksCloud @qbclay LOL!! #QBOchat
@expensify @jazfun Nice to meet you too! Yes, we are all here… but almost everyone is sleeping. #QBOchatInTheDark #QBOchat
@BizBooksCloud At least a hint! RT @QBOchat @BizBooksCloud @qbclay LOL!! #QBOchat
@qbclay I hope to show it at OH CPA show, maybe #QBOchat
@Megsquito No spoilers Woody! Be good! πŸ˜‰ RT @qbclay Oh but I wish I could show you guys this new feature coming into QBOA/QBO soon #QBOchat
@jazfun @expensify shhh.. be very very quiet πŸ™‚ lol #QBOChatInTheDark #QBOchat
@qbclay Right, dang, many of my Intuit colleagues are in here too so I need to lay low πŸ™‚ #QBOchat
@QBOchat Do you smell something? RT @jazfun @expensify shhh.. be very very quiet πŸ™‚ lol #QBOChatInTheDark #QBOchat
@Megsquito Wabbit? RT @QBOchat Do you smell something? RT @jazfun @expensify shhh.. be very very quiet πŸ™‚ lol #QBOChatInTheDark #QBOchat
@jazfun Cmon Woody! We won’t tell anyone RT @qbclay I hope to show it at OH CPA show, maybe #QBOchat
@vheckman I’m with @qbclay. It’s hard keeping secrets (but you’re going to love it!) #QBOchat
@QBOchat Let’s get back to business valuations and leave @qbclay alone. πŸ™‚ #QBOchat
@BizBooksCloud Are you ever able to lay low in the QB world? RT @qbclay many of my Intuit colleagues are in here too so I need to lay low πŸ™‚ #QBOchat
@QBOchat Q2: Are there different methods to value a business? #QBOchat
@qbclay I believe I am safe so long as I do not say what it is…Apologize for laying down such a teaser. #QBOchat
@Unblakeable There are lots of different methods. Some rely on future cash flow forecasts, others rely on market comparables. #QBOchat
@BizBooksCloud A2 About a hundred! RT @QBOchat Q2: Are there different methods to value a business? #QBOchat
@QBOchat @BizBooksCloud Do you have experience with business valuations? #QBOchat
@Unblakeable Still other valuation methods rely on counting up assets and liabilities, and then there are more exotic techniques. #QBOchat
@QBOchat Actually, who else here has experience with business valuations? I just leave it to the experts like @unblakeable #QBOchat
@MariaSentic Many methods of business valuation – business type will determine which will be used. #QBOchat
@Unblakeable More exotic valuation techniques involve simulations and real options theory. #QBOchat
@accountingpeace @QBOchat @unblakeable Do you work outside of GA? #QBOchat
@BizBooksCloud Just with one, but we explored about ten different methods RT @QBOchat Do you have experience with business valuations? #QBOchat
@Unblakeable I have clients in several states and 4 foreign countries at last count. #QBOchat
@MariaSentic Typically, a valuation will use several methods to valuate and then a blend to determine final value. #QBOchat
@accountingpeace @Unblakeable Great! I will keep you in mind! #QBOchat
@QBOchat @Unblakeable Is this just with the new business?! #QBOchat
@Unblakeable New business and clients that came over with me. #QBOchat
@QBOchat Wow!! You are rocking it!! RT @Unblakeable New business and clients that came over with me. #QBOchat
@MariaSentic I have experience in real estate business valuations and my own company’s recent valuation. #QBOchat
@accountingpeace @QBOchat @Unblakeable Sounds like he has discovered his Niche! #QBOchat
@Unblakeable The one method that drives me crazy is “it’s worth what someone is willing to pay.” #QBOchat
@AustinNexus @qbclay And I’m back on Twitter, after too many Nurph hang-ups…#QBOchat
@qbclay Is it not true that you get a better value of a SB by looking at their expenses and liabs, not just profit? #QBOchat
@MariaSentic #marketvalue RT @Unblakeable The one method that drives me crazy is “it’s worth what someone is willing to pay.” #QBOchat
@QBOchat I’ve known of @unblakeable for years now (he is a BIG deal here in Atlanta). #QBOchat
@Unblakeable @qbclay – by SB, do you mean small business or service business? #QBOchat
@qbclay small #QBOchat
@QBOchat He used to work with some of my old colleagues, so it is pretty cool that we have crossed paths and I’m excited to see .. #QBOchat
@qbclay I just hear it is best to look at the expenses and liabs first, see spend vs just profit. But you all know more than I #QBOchat
@Unblakeable @qbclay – expenses are important in that they impact profit, but at the end of the day, valuation is about profits. #QBOchat
@QBOchat that @unblakeable started his own firm a little while back. He has crossed over to the dark side with us. #QBOchat
@QBOchat @qbclay @AustinNexus Just don’t tag them or else they’ll start trying to tweet you and “help” with any issues #QBOchat
@Unblakeable One exception is service firms. Conventional BV tools are lousy at valuing them, so I tend to approach them differently. #QBOchat
@ServelloCPA @Unblakeable What are your thoughts with the accounting industry? Does the old 1x annual revenue still hold up? #QBOChat
@qbclay Ok, thought I was on to something but I just know where to go in QB, not always what it means. Leave that up to you all πŸ™‚ #QBOchat
@Unblakeable @ServelloCPA – I have valued CPA firms and the market is pretty consistently around 0.5x annual revenue. #QBOchat
@jazfun @Unblakeable what is the best way to approach a service firm when the owner is the firm? #QBOchat
@expensify @Unblakeable @qbclay and how do we all track expenses? #ExpenseReportsThatDontSuck! #QBOchat Γ°ΕΈβ„’Ε’
@QBOchat @jazfun @Unblakeable Do you add back in what a reasonable salary would be if they hired someone else to do the work? #QBOchat
@Unblakeable If the owner is the firm, I’d probably approach by valuing the intangibles – customer lists/relationships, processes, etc. #QBOchat
@qbclay Should we also talk about the awesome pics @Kimtuitive posted of her and @AustinNexus Hawaii trip? #QBOchat
@QBOchat @Unblakeable @ServelloCPA So – you are basically saying I shouldn’t sell my biz b/c it isn’t worth much πŸ˜‰ #QBOchat
@ServelloCPA @Unblakeable WOW!! I need to bring you in during firm acquisition meetings! #QBOChat
@qbclay sure seemed pretty critical to me #QBOchat
@Unblakeable @jazfun adjusting for owner compensation is a critical part of business valuation. I ask about it in each engagement. #QBOchat
@QBOchat @ServelloCPA @Unblakeable Check out his site: https://t.co/X7kLKjrJ9q #QBOchat
@AustinNexus @qbclay @Kimtuitive Yes, eventually, but let’s keep talking about you for awhile πŸ˜‰ #qbochat
@Unblakeable @servellocpa – no, but what I am saying is that there are things you can do to make the business worth more. #QBOchat
@Kimtuitive Specifically the one where we’re working from our Villa’s dining-room table? πŸ˜‰ #QBOChat (pre-acai bowl that day)! https://t.co/17bFn71Mf4
@QBOchat Q3: What kind of guiding principles or standards are there for business valuations? Are there certifications? #QBOchat
@AustinNexus @QBOchat @qbclay Yep, I’ve been through that drill… #QBOchat
@Unblakeable There are many certifications. My own business card looks like alphabet soup. But there are core principals that guide biz vals. #QBOchat
@Unblakeable My preferred set is the Uniform Standards of Professional Appraisal Practice. https://t.co/8QaxH9lTYL #QBOchat
@Unblakeable Most standards are similar, but they have subtle differences. One thing our industry needs is peer review, like PCAOB. #QBOchat
@gabe_the_taxguy Hello all…..sorry I’m late to the party #QBOchat
@Unblakeable And I am working on a committee to create such an institution. #QBOchat
@Unblakeable Interestingly, there is no licensing for business valuation as there is in real estate appraisal. #QBOchat
@alisonatintuit .@Unblakeable THANKS for all you do to help the industry have standards around valuations! #QBOchat
@QBOchat @qbclay – @unblakeable has a band too. “Kicking off the Coverz”, right? #QBOchat
@jazfun @gabe_the_taxguy #LearyLate — You get the prize #QBOchat
@QBOchat Awesome!! RT @Unblakeable And I am working on a committee to create such an institution. #QBOchat
@jazfun @Unblakeable How does the general public search out BV Specialist? #QBOchat
@Unblakeable Yep that’s right. We play classic rock covers and our next gig is 10/23 at PDK airport. #QBOchat
@Unblakeable I think the public generally asks for referrals, though I did get a legitimate lead through https://t.co/5ao5ZVwOHZ. #QBOchat
@QBOchat @Unblakeable Do other accountants send you referrals or is it usually from other business owners? #QBOchat
@expensify @gabe_the_taxguy Happy you could make it #QBOchat
@Unblakeable I do receive many referrals from CPAs, including my former gig, HA&W. #QBOchat
@accountingpeace Mmm. Burgers. RT @Unblakeable Yep that’s right. We play classic rock covers and our next gig is 10/23 at PDK airport. #QBOchat
@Unblakeable But I tend to get more referrals from owners than most because I market myself more as an advisor than just an appraiser. #QBOchat
@QBOchat @Unblakeable At what point do you recommend accountants reach out? What are triggers to watch out for? #QBOchat
@Unblakeable Many tax filings require an appraisal as do audits. The earlier we are engaged, the better job we can do. #QBOchat
@Unblakeable Any time a client is thinking about buying or selling a business, buying into a business or buying out a partner. #QBOchat
@Unblakeable Again, the earlier we get in, the more impact we can have on the outcome. #QBOchat
@QBOchat @Unblakeable I didn’t know that! Tax filings or the audits…. Hmm… Good thing I’m here. #QBOchat
@Unblakeable Gift and estate tax, corporate form conversions, stock option grants… #QBOchat
@QBOchat Q4: What kind of information do you review when preparing a business valuation? #QBOchat
@Unblakeable On the audit side, stock option grants, purchase price allocation, goodwill impairment testing. #QBOchat
@QBOchat @Unblakeable Ahh… I didn’t make it that far up the audit chain to work on that stuff. #QBOchat
@Unblakeable My information request has 50 items on it. Broadly, I review historical financials, forecasts, business plans… #QBOchat
@Unblakeable And I interview management (VERY important). #QBOchat
@expensify @gabe_the_taxguy Have we sent you an Expensify t-shirt yet? That can be the prize πŸ™‚ #QBOchat
@accountingpeace What is the financials are well… a mess? Do you clean them up? #QBOchat
@Unblakeable No – I’d refer it out to one of you guys to fix that! #QBOchat
@accountingpeace @expensify @gabe_the_taxguy I was on time! Can I get a shirt? πŸ˜‰ #QBOchat
@Unblakeable I did once do a valuation of a company that never filed a tax return since 1983. Paid all labor in gift cards (illegal aliens). #QBOchat
@Unblakeable And the owner owed $200,000 to a guy named, “Nick” #QBOchat
@QBOchat @Unblakeable Ha!! You’ll have to join us 10/29 for our #ScaryBooks #QBOchat. Sounds like you have some good stories. #QBOchat
@Unblakeable Sure! #QBOchat
@MariaSentic @Unblakeable THAT is a great story. Did “Nick” get his money? #QBOchat
@QBOchat LOL!! I feel bad for laughing. RT @Unblakeable And the owner owed $200,000 to a guy named, “Nick” #QBOchat
@Unblakeable No – in fact we are pretty sure “Nick” had the owner whacked. #QBOchat
@QBOchat @Unblakeable eek! #QBOchat
@AeroWorkflow And people thing accounting is boring! RT @Unblakeable No – in fact we are pretty sure “Nick” had the owner whacked. #QBOchat
@Unblakeable I had another engagement where I mediated a buy-out/spin-off between 2 brothers. #QBOchat
@AeroWorkflow Sounds equally dangerous RT @Unblakeable I had another engagement where I mediated a buy-out/spin-off between 2 brothers. #QBOchat
@Unblakeable Both nice guys, very capable, but they had alpha-dog issues. Ripped apart a pretty valuable business. #QBOchat
@QBOchat @Unblakeable Oh no! That is sad. #QBOchat
@Unblakeable Had they simply shown each other common courtesy, that business would still be together and printing money. #QBOchat
@gabe_the_taxguy @jazfun @expensify No you haven’t, I love hats too πŸ˜‰ @Expensify is the best app that everyone should have #QBOchat
@QBOchat Everyone else is so quiet… Are you all just taking it all in? #QBOchat
@AeroWorkflow Yes!! RT @QBOchat Everyone else is so quiet… Are you all just taking it all in? #QBOchat
@accountingpeace @QBOchat Yes! This is all very good info! #QBOchat
@geneva_a23 still here…getting educated. #QBOchat
@XTBills .@QBOchat we’re still in awe from those stories! People these days! #QBOchat
@Unblakeable How many of you guys work with tech startups? #QBOchat
@accountingpeace Use @fundera for loans. Not Bank of Nick. #QBOchat
@QBOchat And, how many of you apps are considered tech startups? #QBOchat
@gabe_the_taxguy @QBOchat I haven’t done any business valuations, so I’m here to learn ;D #QBOchat
@AeroWorkflow I’m busy adding @Unblakeable to my contact list for future referrals! #QBOchat
@MariaSentic Definitely! RT @AeroWorkflow I’m busy adding @Unblakeable to my contact list for future referrals! #QBOchat
@BizBooksCloud up RT @AeroWorkflow Yes!! RT @QBOchat Everyone else is so quiet… Are you all just taking it all in? #QBOchat
@QBOchat @AeroWorkflow @Unblakeable I hope this group gives him some referrals down the road. I love the power of twitter in business. #QBOchat
@expensify @Megsquito @QBOchat That looks delicious! We need to host a #QBOchat potluck, you bring the dessert πŸ™‚
@AustinNexus @QBOchat I’m thinking that some of @Unblakeable’s stories could have been Law & Order episodes – we’re not used to that on #QBOchat πŸ™‚
@BizBooksCloud yup that is RT up RT @AeroWorkflow Yes!! RT @QBOchat Everyone else is so quiet… Are you all just taking it all in? #QBOchat
@XTBills .@QBOchat While XTBills is new to the scene, our parent company has actually been around since 1998…#kindofastartup #QBOchat
@QBOchat @AustinNexus @Unblakeable Very true! #QBOchat
@alisonatintuit @BizBooksCloud @AeroWorkflow @QBOchat I’m just taking it all in… and eating M&M’s πŸ™‚ #QBOchat
@TaxPlannerPro We are a Start Up, Just got approved today and going to publish to https://t.co/UCGUtS4BQR Soon!!! #QBOchat
@AeroWorkflow I’m in Silicon Valley so I have tech start up clients; in addition to starting one! ^@vrcqbpro #QBOchat
@alisonatintuit @TaxPlannerPro Congratutlations!!!! #QBOchat
@QBOchat @Unblakeable We don’t do much with startups, more established businesses or even “hobby” businesses #QBOchat
@BizBooksCloud I have a client in Florida that may be looking to sell out next year #QBOchat
@Unblakeable @TaxPlannerPro Congratulations! #QBOchat
@accountingpeace Congrats! RT @TaxPlannerPro We are a Start Up, Just got approved today and going to publish to https://t.co/3J8JHSYNbj Soon!!! #QBOchat
@XTBills @TaxPlannerPro Exciting!!! Congrats! #QBOchat
@TaxPlannerPro Thank you , we have been working hard and very excited to show everyone!! #QBOchat
@QBOchat Q5: What can accountants be doing to help businesses before, during, and after the valuation process? #QBOchat
@Megsquito Great news, congrats! MT @TaxPlannerPro We are a Start Up, approved today and going to publish to https://t.co/EXJ07QKFJm Soon! #QBOchat
@AeroWorkflow @QBOchat Q5: Keep their books clean! #QBOchat
@Unblakeable The best thing accountants can do is to organize information well. When it isn’t the valuation can become a Vietnam. #QBOchat
@Unblakeable I have one right now where I was given a scan of a 15,000 page binder, with repetitive or slighly different versions of stuff. #QBOchat
@QBOchat @Unblakeable That sucks! #QBOchat
@Unblakeable It took me 2 days just to organize that information to a point where I could use and understand it. #QBOchat
@Unblakeable (Fortunately that was an hourly engagement). #QBOchat
@Megsquito GREAT metaphor! *applause* MT @Unblakeable When information isn’t organized well the valuation can become a Vietnam #QBOchat
@jazfun agreed @MariaSentic .. We need to keep @Unblakeable on the speed dial! #QBOchat
@Unblakeable When I have good, easy to understand info, especially in Excel, it makes the whole process smoother. #QBOchat
@Unblakeable And then I can spend my time more on thinking about the valuation than the mechanics. #QBOchat
@Unblakeable And then after the process, help the client understand the document – help the client figure out questions to ask. #QBOchat
@Unblakeable One thing I think our profession needs to improve is the readability of our work product. They can be pretty rough. #QBOchat
@Unblakeable An accountant can help with that — a lot. #QBOchat
@Unblakeable And readability is something I spend a lot of time on in my practice. I want the client to understand what we did! #QBOchat
@QBOchat @Unblakeable When it comes to the bookkeeping side, I’m a firm believer of the books standing on their own. #QBOchat
@jazfun AMEN!RT @QBOchat @Unblakeable When it comes to the bookkeeping side, I’m a firm believer of the books standing on their own. #QBOchat
@QBOchat @Unblakeable You also do expert witness work – so having easy to understand reports helps in trials, right? #QBOchat
@XTBills #Preach RT @QBOchat @Unblakeable When it comes to the bookkeeping side, I’m a firm believer of the books standing on their own. #QBOchat
@accountingpeace I had an attorney ask me if I could do a BV for a divorce trial. #QBOchat
@Unblakeable @QBOChat That’s right. Lawyers, judges and juries aren’t usually financial people. So I try to give them a break. #QBOchat
@QBOchat @accountingpeace How did you answer that question? #QBOchat
@QBOchat Just a few minutes left for this week’s #QBOchat. What is your favorite take away? #QBOchat
@Unblakeable @QBOChat – even the opposing counsel. I want them to understand my thought process. Even though they won’t agree. #QBOchat
@Megsquito Mr @Unblakeable knows his stuff!! @QBOchat Just a few minutes left for this week’s #QBOchat. What is your favorite take away? #QBOchat
@accountingpeace @QBOchat I referred them to the only BV certified person I knew at the time. #QBOchat
@ServelloCPA @Unblakeable Great chat today, gotta run! Will need to chat up with you outside of the chat #QBOChat
@Unblakeable Thanks @ServelloCPA #QBOchat
@ServelloCPA Have a good week all! #QBOChat
@QBOchat You too! Thanks for joining us today. RT @ServelloCPA Have a good week all! #QBOchat
@accountingpeace Great dive into understanding Business Valuations better! #QBOchat
@PetersonBizSvcs @QBOchat @sleetergroup @BrettMillsCPA Just finished teaching @QuickBooks Online cert in Columbus Ohio! #qbochat #learylate
@Unblakeable I hope you all will consider getting my my mailing list https://t.co/gCY8IXd8lb. #QBOchat
@AeroWorkflow Absolutely! RT @Unblakeable I hope you all will consider getting my my mailing list https://t.co/ew9s3jp6qx. #QBOchat
@Unblakeable I’ll be sending out valuation tidbits, like the proposed Busch-Coors beer merger. #QBOchat
@accountingpeace @Unblakeable Done!! #QBOchat
@XTBills Thanks @Unblakeable for sharing your expertise! #becauseknowledgeispower #QBOchat
@expensify @QBOchat This was SO great… only three more SE Asia #QBOchat! Let’s make the most of them πŸ™‚
@jazfun @PetersonBizSvcs @QBOchat @sleetergroup @BrettMillsCPA @QuickBooks welcome! #QBOchat
@accountingpeace Did you say Beer? RT @Unblakeable I’ll be sending out valuation tidbits, like the proposed Busch-Coors beer merger. #QBOchat
@jazfun thanks everyone! #QBOchat
@QBOchat We have another live demo next Tuesday of the new QBO App – make sure to register! https://t.co/84ZYroso9d #QBOchat
@Unblakeable Thanks for the opportunity! This was fun! #QBOchat
@QBOPro Have a great week! #QBOchat
@QBOchat You were awesome! Thanks for sharing your knowledge with us! RT @Unblakeable Thanks for the opportunity! This was fun! #QBOchat
@accountingpeace Pray that Walmart has my intern’s chewsticks back in stock! Enjoy your weekend! #QBOchat
@ChristineGalli Thank you @Unblakeable #QBOchat
@QBOchat Next week @Fundera will be joining us while we get advice on Borrowing Money. #QBOChat
@accountingpeace Avoid the “Nick” RT @QBOchat Next week @Fundera will be joining us while we get advice on Borrowing Money. #QBOchat
@geneva_a23 thanks everyone! #QBOchat
@Megsquito Have a great week! #QBOchat
@QBOchat Have a great weekend! RT @ChristineGalli Thank you @Unblakeable #QBOchat
@QBOchat Thanks for joining us! I hope you’ll come back next week. RT @geneva_a23 thanks everyone! #QBOchat
@QBOchat You too! And a great weekend! RT @Megsquito Have a great week! #QBOchat
@QBOchat That’s it for this week’s #QBOChat, thanks for taking the time to tweet with us! #QBOchat
@QBOchat Have a great week/weekend. #QBOChat
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QBOchat Admin

#QBOchat began in July 2013 with the simple idea to host a weekly Twitter conversation around QuickBooks Online (QBO). We have since grown into a very strong community comprised of a diverse group of users. Our weekly tweet chat is held each Thursday at 3:00PM Eastern. The discussions cover a wide range of topics including QBO’s latest features and updates, business operation tips and apps that integrate with QBO, to name just a few.

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