On today's episode of Building the Premier Accounting Firm, Roger Knecht welcomes guest Jimmy Moore to discuss the critical intersection of merchant services, payment compliance, and financial technology for accounting firms. They explore how advisors can better protect their clients from rising fees and regulatory pitfalls while streamlining tech stacks for better performance.

In This Episode:

00:00 Introduction to the Podcast
01:29 Understanding Merchant Services
04:20 PCI Compliance Fundamentals
06:46 Tech Stacks and Integrations
09:43 Four Compliant Billing Models
14:18 Cash Discounting Pitfalls
17:53 Visa Regulations and Enforcement
22:14 Future of Payment Technology
26:57 Leveraging Partnerships for Growth
32:02 Effective Rate and Closing Thoughts

Key Takeaways:

  • Audit client payment models to ensure they follow one of the four approved methods: surcharging, cash discounting, dual pricing, or convenience fees.

  • Prioritize PCI compliance to safeguard sensitive cardholder data and avoid costly non-compliance fines.

  • Integrate payment solutions with core accounting software to reduce manual data entry and minimize human error.

Earn CPE: NASBA-approved CPE and IRS-approved CE credits are offered via Earmark by listening to this episode. ⁠

Access our QAS Self-Study Courses here: https://www.earmark.app/channels/0384dbbe-df08-4ae3-ba82-621a7a465e95

Conclusion:

Thank you for joining us for another episode of Building the Premier Accounting Firm with Roger Knecht. For more information on how you can establish your own accounting firm and take control of your time and income, call 435-344-2060 or schedule an appointment to connect with Roger's team here.

 

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Offers:

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Remember this: Accounting Success IS Universal.

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For more information on how you can apply these principles to start and build your bookkeeping, accounting, & tax business, please visit us at www.universalaccountingschool.com or call us at 801-265-3777.  And know that if it's about accounting, it's Universal.

 

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