Accountant is a demanding profession that requires responsibility and intelligence. We will show you how to remain a true professional and what are the tips and tricks for accountants they can use during tax season.
14 Tips and Tricks for Accountants During Tax Season
The conditions in which accountants work today are very different from those in the past. The world is changing and making adjustments to work processes.
The coronavirus, pandemic, and quarantine have made the workflow new, but you still need to be a true professional. Therefore, we will give helpful advice in this direction.
Here are 14 tips and tricks for accountants to stay in shape during tax season:
Organize your workflow correctly
First, it makes sense to automate the work of the accounting department. Many free document exchange services will allow you to solve issues with signing documents with an electronic digital signature in a few clicks.
The service must have the necessary qualities: it is available around the clock, has a pleasant and familiar functionality, and is also legal.
Have all the books you need near you
The accountant does not always sit in the office. At work, you have to visit the tax service and other government organizations. You don’t have to carry many books with you always to have the latest laws on hand.
Just download to your smartphone any application containing the country’s constitution, code, laws, and other necessary legal information.
Get rid of unnecessary labor
Think about how often you have to work with checks. If this is difficult and time-consuming for you, there is a great way out. Turn your mobile phone into a check scanner – download the corresponding app and no longer have to enter amounts manually.
The application will track the dynamics of expenses for you. By the way, the cost data can be exported to a PC in XLSX format. So it will be more convenient to carry out a detailed analysis in the Excel database.
Get new and valuable information
Remember, the pro never stops. A genuine specialist tries to gain new knowledge and gets better every day. Not only a subscription to thematic portals but also a high-quality mobile application will help you stay up to date with the latest accounting news. Professional press, video seminars, thematic collections – all this is almost in your pocket.
Learn not to forget
Another essential device that will help you remember everything and provide important information at the right time. With the “Accountant’s Calendar” application, you will not miss the date when you need to submit reports or declarations, pay VAT or income tax.
Just select an event from the calendar and add a notification. The phone itself will remind you of the approach of the moment X.
Food for your body and brain
Accountants are mathematicians, and scientists have proven that the brain eats up more energy when working with numbers and abstract concepts. Every day, your brain works to deliver quality results. Therefore, the body needs a little help. Feed your brain with glucose – keep a chocolate bar or sweet / dried fruit in your desk drawer.
Essential documents should be near
Always keep orders close at hand, especially the accounting policy order. It is one of the tips and tricks for accountants during tax season to stay in shape. If not, you must write it. “When the tax inspector comes to visit, he will probably start checking with the orders,”- says the owner of top foreign brides. The correct organization of work will help make any check (even the most difficult) easier and faster.
Audio for work
Did you know that monotonous work is best done with Baroque music? Try including Vivaldi’s The Four Seasons or Bach’s Brandenburg Concertos. Expressive baroque rhythms activate your thinking activity. And if you need to concentrate, listen to the soundtrack for movies or games. They were created to be the background, so they definitely will not interfere with your concentration.
Can fix Your mistake
The simplest case is when a mistake is detected before the close of the billing period. This is usually a month. In this case, they often eliminate the wrong document and replace it with the correct one in practice.
But do not forget to check that all changes made to paper documents are timely included in the information base. This is especially true for large companies with a complex data exchange system.
If the period was closed and the reporting was submitted, the organization would have many more problems. Accounting mistakes usually lead to tax distortions. If the tax was understated, then after submitting the revised declaration, the company will have to pay the difference and a penalty.
Suppose a significant mistake is detected before submitting the reporting, before its transfer to interested users. In that case, it is corrected in December of the reporting year or during the detection period (if it is discovered and committed in one reporting period).
If a significant mistake is identified before the reporting is submitted, but the reporting has already been provided to interested users (for example, shareholders), they correct it again in December, re-sign the reporting with the head re-submit the reporting to interested users.
Why do mistakes occur?
Each of us is human, and it’s okay to make mistakes. The difference between a real professional is that his mistakes are much less, and he corrects them qualitatively. Some mistakes are caused by haste, inexperience, and lack of attentiveness.
Therefore, we will advise a novice accountant: it is imperative to check the content of the payment order. When copying it in the “bank-client” system, do not forget to check the recipient’s details.
When it comes to taxes, do not forget to indicate the new period for which the payment is made and check the amount of the payment. This will help you avoid making mistakes when making payments.
Mistakes in documents
All accounting data is based on primary documents. Therefore, violations when filling out documents lead to distortion of credentials. At the stage of processing and entering information into the information base, mistakes also occur.
Therefore, always check the compiled primary documents and the information that you enter into them. If the forms of primary documents approved by the organization itself are used, check whether all the required details are reflected in this form.
This needs to be done only once, at the moment when you first encountered the form of the document or for the first time post this document in accounting.
Desires and orders of the management
The head of the company or the owners believe that they should know how much to pay taxes. And at the moment when the accountant has a calculated figure based on the available documents on the facts of financial and economic life.
The manager (owner) has a desire to reduce this figure by all means. And here, the main thing is to resist. Not every experienced accountant manages to defend his position, and it is even more difficult for a beginner.
Therefore, do not follow the wishes of the director or owners. Feel free to defend your positions, look for legal ways to minimize taxes. If it fails, ask for an order to carry out such documents and in no case agree to “make” such documents yourself.
How to eliminate mistakes?
Wherever the accountant is, thanks to the Invoice mobile application, he can quickly check any invoice and make corrections. And convenient options, such as reminders of important contents, in which you can make no mistakes, examples of the correct spelling of units of measurement, goods, or services, will promptly identify all inaccuracies.
How to protect yourself?
To be on the safe side, register the date of arrival of late documents. Take an explanatory note from the employee about why he did not submit the document to the accounting department on time. This will help you explain the reasons for the delays to management or government officials.
We hope this list of tips and tricks for accountants will be helpful for you in professional accounting during tax season. With this information, you can improve your level, maximize efficiency, and become an irreplaceable employee for the company. Good luck to you!
Author Bio: Karl Murphy is a professional journalist from Des Moines, Iowa. After obtaining his Master’s degree, he’s launched his career and over its course, Karl was contributing to the popular publications for men. He also develops his blog topforeignbrides.
Images by Steve Buissinne