January is getting closer; how are those tax returns going?
Hopefully, you’re in control and getting through them at a steady pace. Or even better, they’re already done and December and January will just be business as usual.
But if your workload is rising along with your stress levels, it’s not too late to do something about it.
Here are four things you can do now to destress.
1. Set up outsourcing
Time may be getting on, but you can still start outsourcing. After all, now is when outsourcers know you need the most help so they are geared up to support you. And if you put this in place now, you won’t be panicking over the holidays – you might even get the chance to relax!
The key is to keep it simple. Send them the most straightforward jobs that will require minimum input and checking from your side. This leaves you free to focus on your more complex, time-consuming clients.
Be very clear about your expectations with the outsourcer so each side has the same understanding of what’s involved. This will avoid unnecessary communications and save time later.
2. Group your clients
Batching returns by complexity or type of return can save you time. The last thing you want in the middle of January is to realise that those last few returns are all the tricky ones that require much more of your time.
Identify which clients are most straightforward and, if possible, allocate these to less experienced team members (or to your outsourcer, as above). With more complex clients or those who have unique situations, make sure you schedule enough time to deal with them properly. In fact, it’s a good idea to get through those first.
3. Get it right first time
Mistakes happen when you’re under pressure. And there’s nothing like a mountain of tax returns and a fast-approaching deadline to make you feel pressured.
But of course, when you make mistakes, it takes time to correct them and the pressure builds even more. A ‘right first time’ system prevents those mistakes happening.
Get together with your team and create checklists to cover the most common mistakes. It’s important to involve your team as they’ll know where in the system lapses are most likely. And make sure everyone is crystal clear on who does what and when, so nothing slips through the net.
4. Use time blocking to ramp up efficiency
If you’re constantly switching between different tasks, your brain is always shifting gear and you never reach that state of pure concentration. Blocking out time to work on specific areas helps you work more efficiently.
Plan your day (and encourage your team to do the same) so you group specific types of work together. For example, data entry, review sessions and client meetings. Restricting client meetings to certain days of the week means you can work uninterrupted on the other days.
I know there are dozens of guides to tax season around at the moment but I hope at least one of these tips helps relieve the pressure.
And here’s another tip.
Once it’s all over and you have time to breathe again, get together with your team to analyse how it went. Look at what worked, what didn’t and where you can make improvements. Make sure to put systems in place ready for next year.
More helpful guides and free resources for accountants
Shane Lukas – AVN for Accountants
