Five time management tips for CPAs and accountants

In the fast-paced worlds of accounting and tax preparation every minute counts. As an accountant or CPA, you’re often juggling multiple clients, deadlines, and tasks, which can lead to overwhelming stress and burnout.

According to the

2024 State of Tax Professionals Report

, time management, meeting deadlines, and timely filing were the second highest set of challenges for survey respondents. What if you could regain control over your schedule and increase your productivity with proven strategies? Jump to Prioritize tasks using the Eisenhower MatrixOne time management tip for tax professionals that is very effective is to use the Eisenhower Matrix to prioritize tasks. This framework allows you to categorize tasks into four distinct quadrants, based on urgency and importance. The four quadrants in the Eisenhower Matrix include:–

Urgent & Important:

This category includes tasks that require immediate attention, and are critical to your business’s or client’s success. Examples include filing urgent tax returns or addressing critical financial discrepancies.

Urgent but Not Important: These tasks demand immediate action but do not contribute significantly to your long-term goals. These tasks can be delegated, for example administrative tasks or routine inquiries. They include strategic planning, professional development, and

building relationships with clients.

1. Neither Urgent nor Important: These tasks can be eliminated or minimized as they do not add value to your work. You can eliminate or minimize tasks such as excessive social media browsing and unnecessary meetings. This will reduce stress and improve your efficiency. Implement the Pomodoro Technique to focus your work
2. Another time management tip that accountants and CPAs can use is the Pomodoro Technique
3. . This method involves dividing your work into 25-minute intervals followed by a five-minute break. This rhythmic pattern of work helps to maintain high concentration levels while preventing burnout which is especially important in the demanding accounting field. If you are working on a financial analysis that requires intense focus, you may want to extend your work intervals up to 45 minutes and then take a 10-minute break. For routine tasks such as data entry, shorter breaks of 2-3 minutes and intervals of 15-minutes may be more effective. To fully utilize the Pomodoro Technique you can use a
4. digital clock to track your sessions. These tools help you stay focused by providing visual and audio cues for the start and end of your work intervals. By minimizing distractions you can achieve the deep focus necessary to complete high-value work. You can also track your Pomodoro sessions to understand how productive you are. This can help you manage your time and change your schedule.

3. Automate repetitive tasks with technologyOne way to improve time management is to use technology to automate repetitive processes. You can reduce the amount of time you spend on data entry and reconciliation by using advanced accounting software. These tools automatically import data from different sources, ensuring your records are accurate without having to type them each time. These platforms streamline client communication and document management, making it easier for accountants to collaborate and share data. Cloud storage allows you to access your files from anywhere and ensures that everyone in your team has the latest version. This not only saves time but also reduces the risk of errors and miscommunications, which can be costly.

Comprehensive tax automation solutions that cover the tax workflow end-to-end are invaluable in saving accountants and CPAs time in their day-to-day work. The possibilities for saving time are endless. From

client-collaboration tools and organizing workpapers easily to automating the delivery and esigning process of your firm, there are many ways to save time.

Finally, consider incorporating AI-powered tools and assistants

in your practice. These advanced technologies can assist in audit processes, and compliance checks. This will improve accuracy and reduce the risk of human errors. AI can quickly analyze large data sets and flag potential problems, allowing you address them proactively. Set clear deadlines and goals for each project. Instead of a vague goal such as “complete the financial reports,” a better goal would be “reconcile and review the Q4 financial reports by the end of this week.”

Establishing real deadlines

is another important aspect of effective time-management skills. Consider potential delays and your client’s unique needs when setting deadlines. If you are preparing a tax return for someone with a complicated financial situation, allow extra time to review the work and address any unexpected issues. Realistic deadlines not only help you manage your workload more effectively but also build trust with your clients by demonstrating reliability and professionalism. To maintain transparency and stay on track, use project management tools to monitor your progress and adjust deadlines as necessary. Trello, Asana or Microsoft Project provide a visual breakdown of your tasks and timelines. This makes it easier to know where you are at any time. By keeping your team and clients informed of any changes, you can ensure everyone is aligned and working towards the same objectives.5. Delegate responsibilities in order to speed up workflows

The second crucial step to improving your workflow is delegating responsibilities effectively. The first step is to identify which tasks can be assigned. For instance, routine data entry, invoice processing, and administrative tasks can often be handled by junior staff, robotic process automation, or

AI-powered tools. Choosing the right team members for each task is equally important. Assigning tasks according to each team member’s unique strengths and skills can ensure efficient and high-quality completion. If you have a member of your team who excels at data analysis, give them tasks that require an eye for detail. Delegate tasks that require frequent client interaction to another team member who is good at communication. By aligning tasks with your team’s strengths, you not only improve the quality of the work but also boost morale and job satisfaction. Take control of your time this tax season Effective time management can be transformative for accountants and CPAs. These techniques help tax professionals not only meet immediate deadlines, but also lay the groundwork for a more fulfilling and balanced professional life. You can begin with one method and gradually incorporate others as they become habitual. You might start by using the Eisenhower Matrix for prioritizing tasks and then introduce the Pomodoro Technique in order to improve focus. Over time, you can build a time management system that integrates seamlessly with your workflow. Take control of your time and make this tax season less stressful than last year.

Story originally seen here