Depending on your accounting firm’s resources, it’s likely as a CPA, you do a fair amount of data entry as part of your work. Probably too much.

Data entry can be the source of long nights at the office, especially during peak seasons. Furthermore, it could be keeping you from other important tasks that are vital to keeping your firm profitable and growing.

If there was a way to do away with manual data-entry as part of your day-to-day, what else could you be doing?

Improving Your Client Relationship

Client retention is one of the biggest hurdles CPAs face, as high turnover can spell doom for a firm. Keeping clients satisfied with your services should be the number one priority for CPAs, but with much of the day dedicated to redundant tasks like data-entry, it can be easy to lose sight of this goal and forget to perform the little things to maintain a good accountant-client relationship.

A top reason why clients drop their CPA is due to a lack of communication. Beyond performance and ROI, clients pay attention to how often their firm reaches out to them and how accessible they are. According to a CCH study, the leading reason that clients switch firms is that they don’t regularly check in with their clients to assess their changing needs.

There’s plenty of competition out there, so if a client feels like they’re being neglected by their firm, few will hesitate to make a switch. When you don’t make the client’s needs a priority, it’s easy for them to see that. However, it’s understandable if you would like to focus more time on your client’s specific needs, but data entry work takes up the majority of your time. If your data entry duties were taken care of, you’d have more time to schedule one-on-one time with clients as well as other occasions to reach out and communicate.

Client Acquisition

Next to client retention, the acquisition of clients should be the next priority for growth. Having a happy client-base will increase word-of-mouth for your firm, but networking is a process that can take time, which you don’t always have.

You need time to plan out strategies for acquiring new clients, as each firm has a different ideal client. These strategies may include long-term marketing campaigns, attending industry events or partnering with other professional firms for referrals. In any case, these strategies will take lots of time to plan as well as execute.  

More Time on Quality Control

Nothing chips away at retention like an audit. Mistakes happen, but more attention to detail with constant review and revision will lead to less. A good share of your time should be dedicated to quality control, but more and more of that time is often eaten up by the mundane busy work that needs to be done. Firms and CPAs need to find an acceptable balance between busy work and quality control. An abundance of mistakes can lead to rejections by the IRS or worse, an audit. Definitely not the news you want to deliver to a client.

If you’re looking for more things that you could be doing after the data entry is done, here’s a checklist for daily to-do’s that can make the end of the month that much easier.

Daily Accounting Checklist

  1. Refresh financial data (some software does this automatically). Then you’re 100% in the know every day about where the company finances are at.
  2. Reconcile cash against receipts. This keeps track of where the money goes, as well as shortages/overages.
  3. Reconcile and review all transactions. Doing it daily means less work for you at the end of the month, while also making you stay on top of any possible issues or snags.
  4. Make a record of all payments recieved. Again, this will make it so you’re 100% on top of the company finances.
  5. Evaluate, categorize, and record expenses. This will prevent you from having to sort through endless piles of receipts at the end of the month.
  6. Keep a record of all inventory.
  7. Invoice clients in a timely manner. This keeps everyone on the same page about charges rather than allowing time for people to forget why something happened or why a thing was purchased.
  8. Keep on top of paying any and all vendors.
  9. Regularly back up all data. This is a safety measure against anything that might erase your documents and data.

Time should also be spent on improving your processes so fewer mistakes can occur. Fostering an environment where mistakes are caught earlier will further streamline your processes and improve overall quality.

These three processes are just a handful of aspects your firm could be spending more time on if that redundant work was just cut out. Fortunately, there’s an easier way to handle manual data entry, besides hiring more hands, recruiting a legion of interns or outsourcing. eFileCabinet provides can process to streamline your data-entry. Using advanced OCR technology, you’ll be astonished at how easy our system processes documents and organizes it into our intelligent filing system. Download our free ebook below to learn more about how document management can help you focus more on what matters.

Say No To Busy Work. Focus On Efficiency. eBook