You’re struggling to keep up with your accounting workload. What are some time-saving techniques you can use?

If you’re an accountant, you know how demanding your job can be. You have to deal with deadlines, clients, regulations, taxes, audits, and more. Sometimes, it can feel like you’re drowning in numbers and paperwork. How can you cope with your accounting workload without sacrificing quality or accuracy? Here are some time-saving techniques you can use to streamline your accounting tasks and boost your productivity.

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1 Automate repetitive tasks

One of the best ways to save time as an accountant is to automate the tasks that you do over and over again. For example, you can use software tools to create invoices, generate reports, reconcile bank statements, and track expenses. You can also set up reminders, alerts, and workflows to keep track of your deadlines and priorities. By automating these tasks, you can reduce errors, improve consistency, and free up more time for higher-value activities.

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Kelly G. Peters, CPA, CMA

Principal, TCI Solutions, LLC
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Before automating repetitive tasks simplify things. Figure out the wastes in the processes (transportation, delays, storage, inspection, rework, etc.) and work to reduce or eliminate them. Talk to your suppliers on how to get you what is needed in a more useful output. Talk to them about being timelier and consistent.

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2 Delegate and outsource

Another time-saving technique is to delegate and outsource the tasks that you don’t need to do yourself. For example, you can hire a virtual assistant to handle your administrative duties, such as scheduling, emailing, and filing. You can also outsource some of your accounting functions, such as payroll, bookkeeping, or tax preparation, to a qualified professional or firm. By delegating and outsourcing, you can focus on your core competencies and leverage the expertise of others.

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Kelly G. Peters, CPA, CMA

Principal, TCI Solutions, LLC
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If you're going to outsource, make sure that you can live with their off-of-the-shelf solutions. Most companies like to do things their way. This drives up costs if you want the outsource partner to provide you that unique service and support. Outsourcing still needs to be affordable and have high quality.

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3 Use cloud-based solutions

A third time-saving technique is to use cloud-based solutions for your accounting needs. Cloud-based solutions are online platforms that allow you to access your data and software from anywhere, anytime, and on any device. They also offer features such as real-time updates, collaboration, security, and backup. By using cloud-based solutions, you can save time on installation, maintenance, and troubleshooting. You can also work more efficiently and flexibly with your clients and colleagues.

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4 Adopt a paperless system

A fourth time-saving technique is to adopt a paperless system for your accounting records and documents. Paperless systems are digital systems that allow you to store, organize, and manage your files electronically. They also offer benefits such as easy retrieval, searchability, and sharing. By adopting a paperless system, you can save time on printing, scanning, copying, and filing. You can also reduce clutter, waste, and storage costs.

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5 Implement the 80/20 rule

A fifth time-saving technique is to implement the 80/20 rule for your accounting work. The 80/20 rule is a principle that states that 80% of your results come from 20% of your efforts. Therefore, you should identify and focus on the 20% of your tasks that have the most impact on your goals and outcomes. By implementing the 80/20 rule, you can save time on the tasks that are less important or urgent. You can also increase your effectiveness and value.

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Kelly G. Peters, CPA, CMA

Principal, TCI Solutions, LLC
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I recommend categorizing your tasks between most to least urgent and most to least impact. Focus first on the most important and urgent, second on most important least urgent, third on most urgent and least important, and ignore the least important and urgent. Also, you can put tasks into three buckets, most urgent and important. The stuff that's either important or urgent, and then everything else. If someone calls about something in the middle stack, move it to the first stack. If after something doesn't get a call in the second stack for 30 days move it to the third stack. Stuff in the third stack that haven't had any inquiries within 30 days, throw out.

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6 Learn new skills and tools

A sixth time-saving technique is to learn new skills and tools that can help you improve your accounting performance and efficiency. For example, you can learn how to use advanced features of Excel, such as formulas, macros, pivot tables, and charts. You can also learn how to use new software or apps that can enhance your accounting functions, such as budgeting, forecasting, or analysis. By learning new skills and tools, you can save time on manual or tedious tasks. You can also expand your knowledge and capabilities.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Kelly G. Peters, CPA, CMA

Principal, TCI Solutions, LLC
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Talk to your boss. Come to them with metrics about backlog and productivity. If backlog is growing and productivity is the same or just improving slightly have a conversation about either new tools, elimination of things being done, or new staff.

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You’re struggling to keep up with your accounting workload. What are some time-saving techniques you can use?

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1 Automate repetitive tasks

2 Delegate and outsource

3 Use cloud-based solutions

4 Adopt a paperless system

5 Implement the 80/20 rule

6 Learn new skills and tools

7 Here’s what else to consider

Accounting

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