If you are a business owner in the UK, the end of January always runs the risk of being a stressful time. 31st January is the self-assessment deadline for tax returns for the previous financial year. This period is specially a bumper ride for accountants. As Deadline is nearing and you are yet to accomplish your accounting and tax preparation. Or possibly not even close to finishing all your important documentation! Don’t let the pressure of a deadline kick your ass! Not after reading the tips shared herewith.
Mastering the art of meeting and managing deadlines in a professional environment is integral to success. The capacity to manage deadlines is also one of the more prominent ways that you can demonstrate stability and dependability to your employer. A must watch for all accountants and SME
Whether you decide to prepare and submit your tax returns yourself or hire an accountant to do this on your behalf these tips will help you to cope with a tight deadline.
Click here to download the sample planning template
- Assess the pending tasks
Ensure you have the entire job list with status either on your desk or at least on your desktop. Clean your desk put aside everything unwanted so that it helps you focus on what you are supposed to be doing to complete the pending tasks and whom to assign what to get better results on time.
- Underestimating your staff strength? Asses now!
Make sure, you assign the job to employees with the right skill set, it will ensure job efficiency and the job will progress toward its finality without any roadblocks. We have to make sure we eliminate all the stumbling blocks at the initial stage. If we asses our strengths and also weaknesses at the start, it will help us to be ready with the back-up plan too.
- Ensure that you have the complete client data
It’s very important to assess which clients have sent all the data and which clients have not. Because once the work process starts, the incomplete data or documentation will only add up to your workload. It will unnecessary harm the productivity, and also add up to your frustration in the middle of the job.
- Your constant presence matters!
Just as an airplane has to increase its speed to create enough lift, you need to generate enough momentum to affect your motivation and productivity. An example is when people feel like they are really on a roll. So make sure you meet up with your team on daily basis. Listen to their issues and encourage them to come up with great ideas.
- Complete the work but don’t forget to follow up
Now that you have a complete picture in front of you and you have begun with the jobs, you also need to keep in mind to reach out to clients, who have sent partial or no data. Regular follow up through emails or call will make your job easier.
Sachin Lohade is a Chartered Accountant and works with Accounting Firms to improve practice and reduce costs. He can be reached out at sachin@corientbs.com or you can visitwww.corientbs.co.uk
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