6 Time Management Tips for Accountants
Time management skills are essential for professionals in finance and accounting. Accountants are responsible for an extensive list of tasks, including gathering, recording, filing, reporting, and analyzing company financial data. Other common accounting responsibilities include reviewing and analyzing financial reports, sending and receiving business payments, and tax filing.
These tasks are meticulous and can be time consuming without the right accounting programs and business practices in place.
How efficiently is your business accounting department performing in time managment?
Businesses around the country continue to waste countless hours performing manual data entry. This is a poor use of human resources and not practical for a busy accounting department. Creating a work environment that encourages time management is essential to financial success.
In the following informational list, we will reveal the top 6 time management tips for accountants.
1). Prioritize Tasks
Accountants that demonstrate poor time management are also often guilty of poor organizational skills. These issues lead to numerous issues, including financial errors, missed deadlines, or worse, lost assignments.
It is essential for accountants to be diligent in prioritizing financial tasks. Take time to develop an outline and timeline for each project. Break larger projects into smaller, more manageable workloads.
Spend a few minutes at the beginning of each day reviewing what needs to be accomplished. Doing so, will help your mind stay centered and focused on these responsibilities throughout the day.
2). Create a Focused Work Environment
Accountants spend countless hours each week being unproductive on the job. This lack of productivity is often due to non-work related causes. For example, workplace socializing, taking personal calls, and/or surfing the internet.
Staying focused on professional responsibilities is crucial for busy accountants. Distractions are not only a waste of time, but also increase the likelihood of an error. It is important for professionals in all levels of accounting to encourage a job-centric work environment.
Encourage employees to socialize on non-company time. For example, on breaks or outside of work hours.
3). Implement Healthy Project Management Skills
There are several simple practices that could help accountants focus better throughout the day. Try to avoid the urge to take on too many projects simultaneously and not attempt to multitask.
Oftentimes, overburdened workers will multitask in an effort to increase productivity under pressure. Unfortunately, trying to work on multiple projects at one time increases the risk of errors and actually decreases productivity.
4). Delegate Financial Tasks
The ability to properly delegate financial tasks is essential, whether you’re a company owner, a financial department manager, or a lead accountant. You should protect your business finances by selectively assigning tasks. However, it is also important to always have a backup plan for unexpected circumstances.
Selectively assigning tasks refers to specific employees to specific financial accounts. This reduces the risk of internal fraud.
5). Use an Online Check Writer that Integrates with Accounting Software
Using a check printing program, what some laypeople refer to as an “online check writer” that works with your accounting software helps accounting departments perform tasks securely and efficiently. Eliminate the time, energy, and risk of data entry error with PrintBoss online check writer (aka check printing) software.
Are you ready to save time and human resources?
With QuickBooks Online and PrintBoss online check writer software, you can easily delegate employee tasks. These applications also provide additional protection, including the ability to set limitations and restrictions on financial account access.
6). Take Breaks
Planning your day is one the easiest and most effective ways to encourage time management practices throughout the day. Schedule tasks and assign practical deadlines. In addition to planning your assignments, it is also important to schedule breaks throughout the day. Taking breaks throughout the workday can help reduce anxiety and improve your overall mood.