may2021 - 5

FEATURE
It's Time to Leave These Busy Season Practices
in the Past (Where They Belong!)
By Jeannie Ruesch
EVERY SEASONED ACCOUNTANT has been there: feeling stretched too thin
after an unforgiving busy season and eager to put it in the past.
As they eye the light at the end of the long,
never ending tunnel that has been this year's busy
season (made darker by tall, structurally unsound
piles of receipts), they're probably looking forward
to spring cleaning their to-do lists and getting
their lives back in order...and probably not looking
forward to doing it all over again in 2022.
And yet, preparation for the next busy season
is already underway, with accountants wondering
what they can do-differently, better, more-next
year to tackle their workload and preserve a little
sanity at the same time.
It's those thoughts of 'more' that are especially
common in the lead-up to stressful times - more
hours to spend working, more manpower, wondering
what more can be done to support hardworking
accountants grappling with remote audits and
complicated tax policy changes (we won't even
mention PPP loans...) on top of their usual workload.
But 'more' is not always better.
In fact, the secret (and there is a secret!) to
surviving busy season lies in doing less - or, rather,
leaving behind certain outdated practices. Accountants
with less on their plate, after all, can spend
less time and energy on arduous busywork...and
more time providing the high-value strategic
consultation and support their clients want and
need most.
So, how can you do more with less? Here are
four outdated practices accountants should leave
behind in busy seasons to come:
Managing Manual Data Entry
Automation is sometimes treated like
a threat, especially in industries like
accounting that might have a reputation
for being averse to change. However,
it's important to keep in mind
that elevation is the goal here - not
replacement. Just as there are things a
computer can do that a human worker
cannot, there are uniquely human
issues that technology can't solve.
Technology can't replace accountants,
but it can reduce their time spent on things
like data entry (or worse, double data entry) which,
in addition to eating up irreplaceable time, opens
the door to errors or even, in rare cases, fraud.
Accountants should make it a priority to integrate
software or bots that can automatically read data
from invoices, spreadsheets, and PDFs. Doing so
will streamline workflows during the busy season
and year-round.
Reviewing the Shoebox of Receipts
It's every accountant's worst nightmare: having to
sift through a massive pile of unorganized paper
receipts, invoices and forms at the eleventh hour.
Using automation year-round to tackle things
like bill pay and managing approvals can make
a big difference in lightening the administrative
load. Platforms that integrate with your accounting
software will eliminate double data entry and simplify
account reconciliation, which is invaluable
for catching and reversing any mistakes quickly
and provides a clearer, more current view into an
organization's debt and cash flow.
Tracking Down Audit Trails
Filing cabinets belong in a museum.
What accountants need is an integrated cloud
dashboard with the ability to safely store and
retrieve all client documents, vendor records and
time-stamped transactions. A single, accurate
record of the truth saves time and provides an
added layer of security that ensures both practical
and peace-of-mind benefits.
For instance, cloud-based accounting means
that client and business data is both protected
and accessible in case of an emergency - such
as a natural disaster or an unprecedented
pandemic that necessitates entire companies
work from home.
Ignoring the Human Element
2020 was a unique year where many accountants
stepped up into additional roles as business advisors
and occasionally even therapists for their
clients. With the right support system-including
the right team, tools and technology-they can
focus more time on adding that human touch to
their role and less time on repetitive manual tasks
and worrying about mistakes.
Increased automation can remove data entry
and the need to chase paper and instead allow
accountants to shift their focus toward more
forward-looking services. This will improve data
entry accuracy and help reduce the liability risk
(not to mention rescue countless sets of eyes
from squinting at ledgers, reviewing receipts and
analyzing handwriting every day), and even benefit
employee retention, morale and engagement.
It's not surprising that accountants are feeling
burned out after this busy season. (After all, even
the IRS is dealing with a more-massive-than-usual
backlog of tax returns and correspondence.) However,
that doesn't mean that the industry should
accept exhaustion as the status quo when so many
options are out there.
Investing in the right technology
and automated solutions-as well
as the accountants that will benefit
from them-can be a lifeline this year
and become a way of life during tax
seasons to come. ■
Jeannie Ruesch works as the director of
marketing at Bill.com and has been in
the accounting industry for more than
seven years. She has more than 25 years'
experience in brand creation and strategy,
design, social media development, demand
gen, and customer marketing.
MAY 2021 ■ www.CPAPracticeAdvisor.com
5
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may2021

Table of Contents for the Digital Edition of may2021
