5 Accounting Hacks We Are Thankful for this Year

Thanksgiving is the time of the year to be thankful for the bigger, and smaller, things in life. Whether those things are personal or work-related, being thankful is actually proven to be good for you.

Work is of course a big part of your life. And being happy, fulfilled, and of course thankful in your job has a significant impact on your life as a whole. As accountants, it can be tough at times; with deadlines, new standards and regulations, and a sometimes thankless job.

To help, we’ve put together a list of 5 accounting hacks we’re thankful for this year. Some deal with accounting itself, while others are tips and tricks that have helped accountants do their jobs better – and make their lives easier. 

We hope that you too can benefit from these hacks, and find even more to be thankful for in the year ahead. Here goes!

1: Easily track standards changes

It can be tough keeping track of the latest changes and updates to accounting standards. The good news is that the Association of International Certified Professional Accountants (AICPA) has a dedicated Standards Tracker.

This Tracker provides instant references to recently issued standards and updates, including summaries, effective dates, and links to the actual standards.

No more scrolling through dozens of different websites of dubious accuracy and outdated information. Find everything you need, from the source, quickly and easily. 

2: Freshen up your workspace

Freshening up your workspace may not sound like much, but it can make a huge impact on your wellbeing, productivity, and happiness at work. 

Whether you’re back in the office, working from home, or both; getting some design inspiration could be the catalyst you’ve been waiting for to make that change.

We liked design ideas to refresh your workspace, as well as some practical tips to make immediate changes.

Tips include, for example, clearing clutter, using containers that are both useful and aesthetically pleasing, making use of your wallspace, and adding light. Many of these are “little” things that can make a big difference.    

3: Get a virtual assistant

Your to-do list keeps growing, and you have work deadlines plus home responsibilities. Where do you turn? 

We’ve used virtual assistants from platforms like Fiverr to help take care of some of the more mundane tasks for us. Whether it’s booking a restaurant or even researching public financial information, it can take significant of the weight off your shoulders.

Our tips are: use providers who have a high number of 5-star ratings, read some of their latest reviews, and stay away from brand-new sellers. Don’t forget to pay it forward: if you received incredible service, let your assistant know! 

4: Keep your team engaged

Running an accounting team – or being part of such a team – has its own challenges. It’s not just your own work that counts, but how the team performs that matters.

As such, having a team that’s connected, engaged, and pulling in the same direction is a gamechanger. 

Today, there are some great apps out there that can help bond your team together; whether it’s fun challenges, celebrating a team member’s birthday, or just communicating openly and honestly with everyone.

There are a few such apps on the market, each offering something slightly different. Search “employee engagement app” on Google, and choose an app that speaks to you.

5: Use accounting automation

Our favorite hack this year has to be automation. Anything can be automated, and it’s nothing short of life changing

Accounting is ripe for automation, especially when it comes to regular tasks, such as monthly reconciliations. In fact, so many areas of accounting can be automated: from manual data capturing to payroll management, as well as more complex areas such as lease accounting.

Automation not only saves hundreds of hours of time; it also results in fewer errors, easier management of multiple tasks, the ability to see the bigger picture, key insights, higher productivity, and the list goes on.  

It’s not just the turkey

We’re thankful for these hacks, and we hope you are too. By being more efficient and fulfilled at work, we’re able to spend more quality time with those we love, especially around this time of year.  Not to mention staying grateful, positive – and healthier.

All things that we’re most definitely thankful for. 

Have your own accounting hacks? We’d love to hear from you! Let us know and we’d be happy to share them with the community.

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