Financial Cents ’s Post

Management accountants often feel frustrated by the rigidity and limitations of their accounting software, wishing for a system that could magically solve all their challenges—an 'expect-the-software-to-do-it-all' mindset. So, instead of diving into problem-solving mode, there’s often some puffing and huffing to express their annoyance and complaining about how much extra time they need to put into manual workarounds. 😤 But here’s the thing: accounting software can be your friend but it can rarely be an exclusive friendship. A lot of these frustrations can actually be easily resolved with a bit of creativity and by exploring and leveraging some overlooked features offered by the software. Pairing these with Excel (including Power Query) and tools like Power Automate can open up even more possibilities—all at no extra cost! 🧐 Modern Excel, in particular, is incredibly powerful for creating dynamic models that enable fast and accurate data input, analysis and reporting. Accountants who take the time to tap into its full potential often find themselves with game-changing skills that make their work more efficient, insightful, and even enjoyable. 😃 The tools are right at our fingertips—let’s use them to their full advantage and channel that frustration into solutions!" 💡 #Excel #ManagementAccounting #Creativity #ProblemSolving

40% of accountants/bookkeepers were still using spreadsheets or manually sending proposals to new clients.   40% of accountants/bookkeepers didn't use practice management software and doing this on spreadsheets or manually as well.   This baffled me....   Because at Linford Grey we've been tech-led from the start.   Not just because using technology and software saves time and money running the practice, it also helps us and our clients better manage their financial operations and processes to achieve the best results.    We were chatting internally about the webinar, where these stats came from (these were polls run during the webinar and I can't tell you how many accountants and bookkeepers attended but from the comments, there were quite a lot).    And as a technology-driven practice with all the tech we have in place from practice management software to reporting software, we are still extremely busy.    We couldn't imagine how swamped we would be if we ran the practice manually.    Technology is something we all have to learn and change can be hard, it's also an additional cost for practices or those one-man bands, but boy is it worth it for us. Another thing to think about is that many business owners, especially those selling products/services online on multiple platforms, tend to look for accountants who use specific software. Technology works for us as a practice, does it work or hinder your business? 🤔 Ps. there's a few new tech partners we need to add to this tech stack pic - update coming soon! #accountants #modernaccounting #technologyfirst #techstack #arehashtagsnotdonenow

Save your #accountingfirm from unnecessary overhead expenses. Start implementing capacity planning with #accounting practice management software so you never feel understaffed and overworked again. Watch our on-demand webinar now:

Want to grow your practice without the chaos? It all starts with building scalable systems? 🧐 Scalable systems are the backbone of any successful accounting practice 💪 Without them, you’ll find it hard to grow without feeling overwhelmed. I certainly felt like this in my practice in the beginning before I dedicated time and invested in my systems and tech 💻 Start by documenting your key processes: client onboarding, monthly bookkeeping, year end reporting, etc. Then, look for ways to streamline these tasks using software or delegating to your team. A solid system doesn’t just save time, it ensures consistency and quality. We spoke a lot about systems and them all talking together at my recent Practice Energiser event where my special guest speaker Laura Burnett of IT Moon demonstrated how we can get systems that don’t automatically talk to each other, to actually talk to each other to save us hours and hours! ⏰ Who wants to waste time??? Not me! Interested in building a more efficient, scalable practice? Let’s talk: https://bit.ly/3LIjqHW Bev Flanagan Financial Ltd t/a BFF #ScalableSystems #BusinessProcesses #EfficientGrowth

Save your #accountingfirm from unnecessary overhead expenses. Start implementing capacity planning with #accounting practice management software so you never feel understaffed and overworked again. Watch our on-demand webinar now:

🚨 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗘𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆! 🚨 Ever felt like you're drowning in a sea of financial tasks and deadlines? 🌊 I have! But here's how I stay afloat: ✨ Prioritize tasks like a pro ✨ Break down big tasks into tiny ones ✨ Let accounting software be your sidekick ✨ Set reminders and calendar alerts like a boss What's your go-to trick for managing accounting chaos? Share in the comments! 💬 #accountingtips #productivityhacks #timemanagement #accountingchallenges

Maximize Your Day 🚀: Time Management Mastery for Accountants 📊 In the accounting world ⏳, every minute counts ⏰. Managing your time effectively isn't just about working harder, but smarter 🧠. Here's how you can transform your daily grind into a well-oiled productivity machine 🛠️: 1️⃣ Prioritize Wisely: Begin your day by identifying tasks that are both urgent and important 🚨. Utilizing a prioritization matrix can help you visually sort your responsibilities and focus on what truly moves the needle 📌. 2️⃣ Embrace Automation: Many repetitive tasks in accounting, like data entry and report generation, can be automated with the right software 🤖. This not only speeds up the process but reduces the likelihood of errors ❌. 3️⃣ Track Your Time: Use tools like Toggl ⏱️ or Harvest 🌾 to keep track of how much time you spend on various tasks. This data is invaluable for pinpointing inefficiencies and planning your schedule more effectively 📈. 4️⃣ Set Boundaries: Interruptions can be a major time sink 🕳️. Setting specific hours for client calls or checking emails can help you maintain focus on the tasks at hand 📞📧. 5️⃣ Reflect and Adjust: At the end of each week 🗓️, take some time to review what you've accomplished and what fell short. Use this insight to adjust your approach for the next week, ensuring continuous improvement 🔄. By implementing these strategies, you'll not only improve your productivity but also enhance your professional satisfaction by focusing on what truly matters 🌟.

In a recent survey we conducted we learned on average, accountants spend 9.3 hours per week on client communication. 🤯 But with more efficient practices, the goal is to reduce this to just 7.2 hours! ⏳ What client communication tools are you using to save time and boost productivity? #AccountingEfficiency #ClientCommunication https://ow.ly/8lho50TkKzi

Hi LinkedIn fam! 💼 Well, that's Monday put to bed. 😴 I thought I'd share the outcome of a client meeting today. 😊 At Innovate Accountancy, we recently took on a new client. As expected, there was some dissatisfaction with the service from their previous provider. 🙄 After an initial call, it was clear that we needed to get their accounting software in sync with their last filed accounts. 💻 At today's meeting, I presented the numbers to the client after resolving the issues. I received an amazing unsolicited comment from the client's mentor: "Richard always explains the numbers in an easy-to-understand manner." 🙌 Now, I only have one style of accounting and one method of going through the numbers. But as an accounting professional, isn't it my job to ensure my clients are not only happy with the service but also have a better understanding of their accounts after our meeting? 🤔 Sarah Jones #TeamInnovate #innovateaccountancy

Happy Friday, CPAs and bookkeeping professionals! 🎉 As we wrap up another busy week, it's the perfect time to check in and ask: How's it going? Whether you're closing the books or just getting started, let's take a moment to reflect and recharge. 📈 End-of-Week Wins: What were your biggest wins this week? Did you implement a new software, streamline a process, or perhaps onboard a new client? Celebrate your successes with us! 💡 Friday Tips: Got any tips for ending the week on a high note? Whether it's a productivity hack, a favorite accounting tool, or a way to stay organized, your insights can help others. 🤝 Connecting and Sharing: Let’s use this time to connect and share our experiences. What challenges did you overcome this week? How did you tackle them? Your stories can inspire and assist others in our community. 🚀 Looking Ahead: What are your goals for the next week? Planning ahead can set you up for success. Share your upcoming projects or milestones, and let's motivate each other to keep moving forward. Drop a comment below and let’s end this week with a burst of positivity and camaraderie. Enjoy your well-deserved weekend! #CPA #Bookkeeping #FinanceFriday #Accounting #EndOfWeek #ProfessionalCommunity #TGIF #AP #AR #nikko #finance