My Zeo

  • Home
  • About
  • Blog
  • Lifestyle
  • Health
  • House
  • Pets
  • Fitness
  • Money
  • Contact

Are You An Accountant? Make Your Life Easier with These Accounting Tips

November 5, 2018

A career in accounting is no cake walk. If you’re feeling overwhelmed and stressed, this article will give you some great accounting tips.

The end of the tax year, handling new employee benefits, and keeping on top of accounts receivable: an accountant’s work is never done.

That’s why 48 percent of US accountants reported that they feel stressed in their job. Layoffs, tight budgets, and a responsibility to manage cash flow in a tricky economy all contributed to that, too.

Whether you’re a small business owner doing your own accounting, or you’re managing your first financial department, there are bound to be stressful times ahead.

It’s not all doom and gloom, though! Here are some awesome accounting tips to help you manage the day-to-day and seasonal stress of your finance job.

1. Organize Your Documentation

There is nothing worse than wasting a lot of time hunting down an invoice or receipt.

Keep your books in balance with software that allows you to upload receipts, manage invoices, and even delivers reports on demand. There are plenty of services out there tailored to small business owners and accountants, such as Freshbooks or AndCo.

2. Simplify Your Pay Stub Process

Struggling to get your head around individual pay stubs? The sums, taxes, and state requirements can make the end of every month a stressful period.

A pay stub generator takes the headache out of the monthly administration. It calculates everything for you, so all you need to do is download the stub and print it for your employee!

3. Set an Audit and Reconciliation Routine

Set a time aside every week to audit and reconcile your accounts. Doing this regularly will stop it mounting into an overwhelming task.

Knowing exactly where your accounts stand at any point in time will help you to manage business processes, report to the board, and feel in control

4. Streamline Your Accounts Receivables Process

As well as auditing your accounts on a weekly process, consider using an accounts receivables service to alleviate your stress.

These services are dedicated to only following up outstanding invoices to free up a lot of your time every week. The investment in an accounts receivables service will pay for itself as your cash flow becomes more regular without taking up your time.

5. Check Your Tax Relief and Liabilities Ahead of Time

Be prepared for the annual tax return! Avoid a last-minute headache by updating your knowledge well ahead of the seasonal rush.

Make sure you know about every company asset, loan, bank account, and investment so that your tax return is easy to complete.

If you’re not sure about your tax relief and liabilities, especially as a startup or small business owner, invest in a consultation with a tax accountant to make sure everything is correct.

Put These Accounting Tips to Use!

If all of these accounting tips still aren’t helping you sleep at night, never fear!

There are plenty of ways you can get a good night’s sleep. In fact, that might be all you need to feel like you can take on your accounting tasks like a pro.

Check out this guide to help you get the best night’s sleep of your life!

 

Leave a Comment · Money

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About Me

Hello all!!!! I'm Darcy and I recently started writing on My Zeo about health and fitness (and part of that important health equation is sleep!). As we are all super busy with life, I try to integrate how to stay fit, relax and be healthy and happy through everyday life.

Facebook

My Zeo

NEWSLETTER

TeraHemp

Dissecting the Cost of Gastric Sleeve Surgery in the UK

The cost of a gastric sleeve in the UK usually oscillates between £8,000 to £15,000. This wide range . . .

Read the Post

Best Wines for Thanksgiving Dinner

As we welcome the brisk autumn breeze heralding the Thanksgiving season, our hearts are filled with . . .

Read the Post

Why should we focus on playing Rummy online?

Whenever people shift the focus to the best options of gaming like Rummy online, then definitely . . .

Read the Post

Important advantages of rummy app that you must know

A Rummy app is a mobile application specifically created for playing the popular card game Rummy on . . .

Read the Post

What are the top reasons for playing the Rummy game?

Everybody is very much interested in getting involved in games and sports in life, and further . . .

Read the Post

Follow Us Online

  • Facebook
  • Instagram
  • LinkedIn

Copyright © 2018 myzeo.com

Copyright © 2023 · Simply Pro by Bloom Blog Shop.