The Visionary Leader Changing the Face of the Accounting Profession
As the founder of a flourishing firm ranked among the Top 3 Best Bookkeepers in New York by Expertise, Margo Masri is a bookkeeping and accounting visionary on a mission to change the face of her profession—and improve the lives of her clients and business owners everywhere. And she is doing exactly with Margo's Bookkeeping Services LLC, a company whose expertise and services vastly surpass the simple balancing of books. With state-of-the-art financial solutions and a team of highly trained specialists, Margo approaches every business holistically, developing customized financial solutions that help clients unlock their potential and maximize growth. And in the 19 years since opening their doors, Margo and her team have assisted thousands in achieving their financial goals, both personal and professional.
Founded in 2002 in New York City, the full-service bookkeeping and accounting firm specializes in business accounting, real estate accounting and bookkeeping, forensic financial auditing, and payroll services. Margo and her team work with clients that span across the city, throughout Nassau and Suffolk Counties, and over the country—and across industries, including high-net-worth individuals, real estate developers, law firms, contractors, property managers, business owners, and professional service-based entrepreneurs. Margo recently spoke with us to share more about her thriving company and innovative Accounting U educational platform—and how she’s now using her expertise to help small businesses and entrepreneurs achieve their dreams.
What initially inspired you to start Margo’s Bookkeeping Services?
I have a CPA background, and I witnessed countless clients struggling to navigate the complex maze of financial jargon required to successfully run and grow their businesses, so 18 years ago, I set out on a heartfelt mission to provide clients with practical and effective accounting and bookkeeping services that would help them reach their goals. We’ve already helped thousands of people implement systems that save money and raise profits without increasing their spending. Today, I’m continuing to focus on leading and empowering my team to grow within their roles and to give the most value possible for clients. I also share expertise regularly with my social media followers to help them make better business decisions and to maneuver around financial and accounting issues. I’m driven by seeing the lives of my clients change for the better.
Tell us more about the types of services your firm offers.
Margo’s offers customized financial solutions as well as onsite and remote services to meet the specific needs of our clients. We begin with a free strategy session with the client to determine how we can and to assist our team in creating a customized plan. Then, with their approval, we start working through the process. In addition to the accounting and bookkeeping services you’ve already mentioned, we offer virtual CFO, personal, and family financial services. We also specialize in helping high-net-worth individuals reduce the burden of taxes, safeguard assets, and protect their wealth, and smaller businesses get a foothold in their markets or expand.
How have you helped clients grow their businesses and increase profits?
We help clients find more money by implementing strategies, systems, and processes. I implement nine core strategies in one-on-one systems via weekly financial fundamental calls with clients. I make this mandatory because it’s a true partnership, and I’m here every step of the way, to lead them and get them where they want to be. I also use calendar reminders and give clients a task to focus on daily or weekly, depending on how involved the task is. This is where systems and strategies work. I give them smaller tasks throughout the year instead of a long list every six months as clients are more likely to complete attainable, focus-driven goals.
What is Accountable U?
Accountable U is a virtual course for teaching small business owners DIY accounting. The first few weeks focus on the basics: understanding why it’s important for businesses owners to be involved in their finances, examining their current status, and setting goals and expectations. Then, we create an action plan and examine mindset techniques to keep the process as stress-free as possible. The following weeks focus on my nine fundamental principles from effective, paperless, DIY accounting to more complex aspects, such as taxes, expenses, record-keeping, scheduling, and more. Business owners learn the most efficient techniques for managing their accounts and for ensuring everything is documented prior to tax season. Since organization is key, we make sure everyone builds a strong foundation to work from. Then, they’ll be ready to take their accounting software for a test drive and to make the most of their cloud-based filing system.
You originally offered Accountable U to a small group of people, and now you’re getting ready to open it up to people across the country. What was the catalyst for this, Margo?
I developed Accountable U a few years ago but only offered it to people I thought could use it through my network, as you mentioned. However, the response was so positive, and I was getting more and more requests from people who wanted to take advantage of it, I realized that I needed to do an official launch to make it available to the masses. Everyone loves the entity structuring component, since they’d normally pay a significant amount of money for a formal consult with a professional. Through the course, they get one strategy per month to work on and implement based upon their businesses. They also have access to a Q&A community they can contact about specific situations, questions, and problems. During the pandemic, everyone’s needs evolved in so many ways, I changed the course to address their challenges, and it continues to evolve based upon the current needs of small business owners.
What are the greatest benefits that business owners receive from Accountable U?
It serves as a roadmap for building their businesses. Hiring a good accountant can cost owners over $15,000 per year—10 times more than the course, an expense that can derail startups or smaller companies. They often find themselves in a Catch-22 situation—being forced to cover the expense of an accountant, regardless of whether they could afford it, because they could face some very tricky financial challenges that could significantly impact their business while also needing those funds to grow, and in some cases, survive. My course provides the tools to handle many of these fundamental tasks themselves for a fraction of the cost of an accountant. This makes more money available for growing their businesses.
What do you find most enjoyable about your work?
I love seeing clients overcome their obstacles, run through financial activities with ease, and move closer to reaching their goals. Once they see the light, they become so excited. There’s nothing better than finding money they already have just by shifting some things around. Helping people understand their finances is immensely rewarding because once they understand money, they can follow the flow toward success.
Margo’s Bookkeeping Services, LLC