Online accountants may like to consider making some New Year resolutions to help make their working life a bit easier.
A number one priority has to be to organise your time so you’re not rushing to finish things at the last minute. A good example is the January 31 deadline for filing self-assessment income tax returns. As these are for the financial year ending April 2011, persuade clients to furnish you with the information you need as early as possible. Remember HMRC will be handing out £100 penalties for late filing.
The question of money weighs heavily on everybody’s mind at the moment and accountants are no exception. Make sure you bill clients on time and apply your credit terms if they do not settle on time.
Cloud computing is becoming ever more popular and contractor accountants may find it beneficial to encourage their clients to adopt online accounting packages. The majority of these allow you to remotely access your client’s data, reducing the need for face-to-face meetings and all the expenditure that goes with them.
The popularity of social media continues to grow and if you don’t already have a profile on LinkedIn, now is the time to set one up. Even if you’re already part of the business network, this is a good opportunity to make sure all the information is both current and relevant.
Make a point of speaking to your clients to find out what’s going on in their business at the moment. It’s always possible that they’ll need additional advice and services that could bring in more money for you.
Finally, the New Year adage ‘out with the old, in with the new’ could be worth considering in the business context. If you have any clients that you’d dearly love to live without, take the bull by the horns and suggest they find a new accountant. Try and replace them with clients that value the work you do for them.
Happy New Year!