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EP102 – You’re Probably Bleeding Cash! Tim Hoskins Drops the 3 Bookkeeping Hacks That Can Instantly Pump-Up MSP Profits

It's a Numbers Game

Release Date: 06/22/2025

EP122 – If MFA Stops 99% of Attacks… Why Are Companies Still Being Breached - with Al Lakhani show art EP122 – If MFA Stops 99% of Attacks… Why Are Companies Still Being Breached - with Al Lakhani

It's a Numbers Game

In this episode, the Adam and Daniel welcome Al Lakhani a cybersecurity expert, to discuss the revolutionary MFA 2.0 technology. Al explains how traditional MFA (Multifactor Authentication) methods, known as MFA 1.0, are vulnerable to credential phishing attacks, highlighting recent breaches by the Shiny Hunters group. He introduces MFA 2.0, which utilises public key cryptography to eliminate passwords and ensure device-based identity verification, preventing attacks effectively. The conversation delves into the limitations of current MFA methods, the advantages of MFA 2.0, and the...

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EP121 – Using AI to Solve Real MSP Problems with Roy Castleman show art EP121 – Using AI to Solve Real MSP Problems with Roy Castleman

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EP120 – Selling Cybersecurity to Clients Who Think They’re Not a Target with Adam Pilton show art EP120 – Selling Cybersecurity to Clients Who Think They’re Not a Target with Adam Pilton

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EP119 – How MSPs Should Start With AI Today with Fiona Challis show art EP119 – How MSPs Should Start With AI Today with Fiona Challis

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In this episode, Fiona discusses the rapid advancements in AI, especially in the Managed Service Provider (MSP) sector. The conversation delves into how AI avatars are surpassing human avatars in social media, the adaptation of MSPs to AI technologies, and the importance of staying updated in the swiftly changing AI landscape. Fiona recalls past initiatives like the Mentori Program which helped navigate industry transformations and compares it to current AI integration. She emphasises the need for MSPs to embrace tools like Microsoft Copilot as an entry into AI, and outlines a structured...

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EP118 – Confidence, Change and Better Decisions with Graham Norris show art EP118 – Confidence, Change and Better Decisions with Graham Norris

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In this engaging episode, hosts Daniel, Adam and guest Graham Norris explore their personal journeys within the Toastmasters program, highlighting its significant impact on their public speaking skills and confidence. They share stories about overcoming initial fears and discuss how repeated practice at Toastmasters helped them become better communicators. Graham describes how his experience with Toastmasters led him into a career as a professional speaker and organisational psychologist. The conversation also delves into broader themes of navigating change and uncertainty, making informed...

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EP117 – Consolidate, Certify, Comply: Jason Kemsley’s MSP Playbook for 2026 show art EP117 – Consolidate, Certify, Comply: Jason Kemsley’s MSP Playbook for 2026

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EP116 – Why Your MSP Contracts Are Costing You Profit with Anne Hall show art EP116 – Why Your MSP Contracts Are Costing You Profit with Anne Hall

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In this podcast episode, Adam, Daniel, and Anne discuss the significance of legal agreements for Managed Service Providers (MSPs) and how they impact EBITDA. They discuss the inherent risks MSPs face, the importance of proactive use of contracts, and common pitfalls like revenue leakage from services out of scope. The conversation highlights the need for MSPs to educate their clients and align internal processes with contractual commitments. They emphasise that contracts are not merely for worst-case scenarios but are essential for mitigating risks and ensuring business success. The episode...

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EP115 - Building Trust with Effective Case Studies with Rob Beadle show art EP115 - Building Trust with Effective Case Studies with Rob Beadle

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EP114 – MSP Show 2025 - M&A Masterclass - Positioning for the Perfect Deal​ show art EP114 – MSP Show 2025 - M&A Masterclass - Positioning for the Perfect Deal​

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EP113 – Streamlining MSP Billing and Eliminating Reconciliation Headaches with Colin Knox show art EP113 – Streamlining MSP Billing and Eliminating Reconciliation Headaches with Colin Knox

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In this episode, Colin returns to discuss the intricate challenges MSPs face regarding billing reconciliation. He explains how MSPs struggle with managing a wide spectrum of resold products and the dynamic nature of SMB customers. Colin introduces a new 'done-for-you' reconciliation service designed to simplify this task, reflecting on its development origins and the benefits it offers. The conversation delves into how accurate billing and reconciliation can prevent overbilling and underbilling, ultimately protecting trust and financial stability for MSPs. Additionally, Colin highlights the...

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More Episodes

In this episode, Tim joins the podcast to share insights into bookkeeping and financial management specifically tailored for Managed Service Providers (MSPs). The discussion covers common challenges faced in the MSP market, tips for effective bookkeeping, and the importance of accurate VAT returns. Tim emphasises the role of timely bank reconciliations and cash flow management. She also offers advice on setting up a detailed chart of accounts, making use of automated tools in accounting software, and understanding prepayments and journal entries. The episode aims to provide practical tips to business owners for better financial management and decision-making in their businesses. 

 

00:00 Introduction and Episode Overview 

00:59 Tim's Background and Experience with MSPs 

01:43 Common Bookkeeping Challenges and Quick Wins 

02:52 VAT Returns and Common Mistakes 

08:37 Importance of Timely Reconciliation and Reminders 

11:31 Managing Supplier Bills and Cash Flow 

15:32 Improving Management Accounts 

22:34 Automating Financial Processes 

25:17 The Role of Journals in Accounting 

29:19 Conclusion and Contact Information 

 

Connect with Tim Hoskins on LinkedIn by clicking here https://www.linkedin.com/in/timea-hoskins-11b022a6/ 

Connect with Daniel Welling on LinkedIn by clicking here https://www.linkedin.com/in/daniel-welling-54659715/ 

Connect with Adam Morris on LinkedIn by clicking here – https://www.linkedin.com/in/adamcmorris/  

Visit The MSP Finance Team website, simply click here –https://www.mspfinanceteam.com/  

 

We look forward to catching up with you on the next one. Stay tuned!