First of all, you might take comfort in the fact that even accounting professionals find this time of the year to be a little stressful. Even with the advances made in the area of accounting and auditing software, work is still work and work needs free hands. This is where most entities will become distracted from everyday business and commit their workforce to the season at hand, the middle of the financial year. Imagine your SMME of just 9 people and one accountant…complicated, isn’t it? This is where even your experienced accountant simply treats the new-acquired and expensive software as a step-child and focuses on the old method, delegating tasks to real people and getting the job done.
Virtual Assistants are not just pretty faces, thank goodness, they are the ‘go to’ people and they specialise in bringing normalcy to your rather extraordinary busy days. So what would make this season go faster and smoothly? Why keep calm?
- Budget preparation – Tasks such as calculating your expense and determining your income can be done by a competent admin assistant in order to take the load of your accounting people. Even though this seems like the most basic accounting tasks, I am sure that there will be uncertainties, much bigger problems to solve, and freeing hands is the best approach to making it through this crazy period.
- Debtors and Creditors – Before reconciling your information and finalizing your figures each month, there are creditors to pay and debtors to follow up on. This is an important aspect of the process as you will able to see where you have made money and also where you have lost some. This sort of data neatly compiled in the form of a report, for example, can serve as a precious data in months to come when it comes to reviewing past and present business strategies.
- Monitoring and Identifying Trends – Sitting down to look through data in order to identify spending trends is a time-consuming process, and we know that you already know what to do about it. This is a reason to keep calm and to utilize all the serves that your Virtual Assistant has to offer.
Getting it right the first time is your highest priority, I’m sure, and going into the second half of the financial year you will have a clear view of how much you have grown, and in which areas. You will be able to determine whether you should take on new staff or not. It all depends of your planning and preparation.