How I Plan Now to Keep Sane During Busy Season
It's no secret that busy season can be both overwhelming and stressful for accounting firm owners. The seemingly endless year-end closes, tight deadlines, and long hours can take a toll on anyone's mental and physical health. Add to that the daily challenges of running a business, and it's easy to feel like you're running in circles. As someone who's been there, done that, and still doing it, I'd like to share my tips on how to keep sane during demanding periods and year-round.
Proactively organize and delegate tasks: Get Time Back
As an accounting firm owner, there's no shortage of tasks that require your attention. A key strategy to keep things flowing smoothly, especially during peak periods, is to ensure that all your deliverables are listed in your practice management software (we use Teamwork, other popular alternatives are Karbon, JetPack, Canopy, etc.). Each deliverable should be attributed to a staff member, keeping everyone accountable for their assigned tasks.
Moreover, double-check your dates and time budgets. When things get intense, it's easy to lose track of time. Having the correct dates and time budget for each deliverable avoids last-minute panic and helps maintain a steady workflow.
To further enable delegating tasks, consider adding 'How To' content to your tasks. We love using tools like:
Loom for creating tutorial videos: concise and visual guides that can help clarify any confusion related to the task. i.e. how to calculate and record payroll allocation journal entries in QuickBooks Online.
Scribe for creating step-by-step tutorials: complete SOPs or processes with text, links, and annotated screenshots. i.e. how to define parameters for and download a labor allocation report in the payroll software.
I cannot stress enough the importance of detailing specific instructions, nuances about the task, or any other information that you feel is necessary for the successful completion of the task. This level of detail might seem excessive, but it's these small steps that can greatly reduce stress and help keep you sane during the demanding tax season and beyond.
Prepare during Q4: Reduce Stress and Overtime in Q1
Proactive preparation is the key to surviving the 1099s and year-end close season. Start prepping as early as Q4, preliminary 1099s run-throughs, and year-end financials reviews. Don't let the end of the year sneak up on you!
August-September 1099 Run-Through: This is an excellent time for a preliminary run-through. Identify year-to-date 1099 recipients and leverage client requests in QuickBooks Online (QBO) to obtain any outstanding forms.
Ensure a Clean November Close: Make sure there are no open items or unreconciled accounts after the November close. Every account on the balance sheet and profit & loss should be checked and confirmed for accuracy. This will set the stage for a smooth and stress-free busy season.
Embrace Technology: Reduce Errors and Free Up Time
Technology has revolutionized the accounting industry, and it's not going away anytime soon. From cloud-based accounting software to automation tools, there's no shortage of technology solutions that can improve your efficiency and accuracy.
Here are three ways we have embraced technology to streamline processes, reduce errors, and free up time:
Email campaigns and client nudging: we automated recurring client requests (i.e. month-end reports requests, proposal signature reminders, onboarding emails). We use tools like Content Snare, TeamWork Desk, and Mailchimp to send emails on our behalf.
Automating data entry into QuickBooks Online: clients' bank and credit card accounts are linked in the bank feeds, Zapier pushes data from forms and other platforms to QBO (as invoices or bills), batch import Stripe invoices into QuickBooks through CSV files, etc.
Communication templates: whether you use Gmail or Outlook, a ticket system, or a CRM like Hubspot, you can create email templates for each type of written communication. We have a template for follow-ups, for sending the financial statements, for open items and missing info requests, etc. Make your team's life easier. Create a template next time you're typing an email.
Beyond the efficiency examples, technology can help you stay organized, track progress, and collaborate with your team members, regardless of their physical location. A little time invested in technology selection and implementation goes a long way.
Calendar Everything: Prioritizing Personal Time
Remember that you can perform at your best only when you are at your best. Ensuring you have a healthy work-life balance is crucial, and time management is the key here. Believe it or not, your calendar can be a powerful tool in this aspect.
By scheduling everything, including my personal time, I keep sane. I block time for self-care activities like exercise, meditation, and family meals in my calendar just like I would for a meeting.
One practice I've found particularly helpful is to start each day with a 20-minute meditation session. This small window of peace and tranquility in the morning sets the tone for the rest of the day. It helps me stay focused, calm, and ready to tackle any challenges. I also take a Pilates class twice a week from 10.30-11:15 am when traffic is light and I don't waste time in the car.
Prioritize this time in your calendar and stick to it. It might seem like a minor detail, but over time, it will bring a significant positive change to your overall well-being and work performance. If you haven't tried meditation before, plenty of guided meditation apps and resources are available. I use Insight Timer - they even have under 5 minutes meditations!
Staying sane during crunch time requires a combination of strategies that enable you to do more with less. By prioritizing and delegating tasks, being proactive, embracing technology, and practicing self-care, you can manage your workload more effectively, reduce stress, and maintain your well-being. My goal for 2024: document and build a training tasks list to delegate onboarding and cleanup projects. Each year, I get something off my desk so I can focus on what matters most: people (team, peers, vendors, centers of influence, clients).
Remember that you're not alone in this journey, and many others face similar challenges. Don't hesitate to reach out for help, support, or advice when you need it. Remember it's one step, one meeting, and one time block at a time. :)
This is a paid partnership with Intuit.
