Episode 20: Wrapping up EOY work and setting up for next year’s success (Renovate Part 4)
Sam wraps up the series based around the BlueprintHQ Renovate Program, which is all about helping create space in our firms and getting a super efficient at what we do every day. These sessions are all around the job processes for End of Year tax work, which still takes up about 85% of our work, so it's this area that accountants need to get super focused on.
If you haven’t yet listened to Episode 16, about the overall workflow, Episode 17 about the first stage, Episode 18 about the second stage, and Episode 19 about the third stage, then do so before you listen to this episode.
In this episode, Sam covers resource planning, the starting mindset and the different roles you need. She explains the accountability strategies that can be helpful and tips for execution going forwards, plus the common mistake the happens to many when they get too busy that makes this whole process fall apart.
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What we cover in this episode
How to set the firm up for success from the job workflow from previous session
What resource planning is and why you need it
The starting mindset that is key to this whole process
The different roles you need to have
Why your first employ should not be an accountant
Accountability strategies that can be helpful
Tips for execution going forwards
The common mistake that makes this fall apart when things get busy
The team check in you need to be having monthly
The measurements for success
Quotes
“[We must] work on a starting mindset. This actually means that we start the jobs, not the client. Normally we start the job when a client sends information in [which means] the client actually starts the job, not us. So [starting mindset] is giving us more power over our workflows.”
“It usually takes two seasons or two rounds to get to this [improvement]. With the collation of data, you've tested the spreadsheets, seen what data you need to collect, then you might look at a practice management tool to help you with this. But I've always found Excel is probably the best for collating this solid data.”
“In the short term if you're not measuring anything, measure something that you think will be success, and the simplest one is the turnaround time. But start thinking about other things, what information can you capture reasonably simply with what you've got right now?”
“Up to 60% of senior accountants and partners time during the day is taken in document management, and email management. So, filing…A lot of our days, even our high-end accountants aren’t doing accounting, they’re doing admin.”
“It's small, consistent steps that will give you the greatest change. So don't do everything at once, step it through. If you try to get everything in place at once, you'll go on to overwhelm and there will be too much to concentrate on. Get one habit in, then get the next.”
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