7 Tips To Boost Your Productivity In Accounting
Improving productivity translates to more free time, motivation, and a higher standard of living. When you apply proven techniques to boost accounting productivity, it also creates a better workflow. Enhancing productivity decreases delays which can otherwise result in loss of business or legal liabilities.
Keep reading to discover seven ways to bring more precision, concentration and creativity into your accounting work.
Cut Down On Multitasking
While multitasking is praised everywhere, the Harvard Business Review indicates it leads to a 40% drop in productivity. The same report highlights that multitasking incurs a 10% drop in IQ levels. Hence, doing multiple tasks at once is a threat to productivity and creativity in the workspace.
Another report shows multitaskers make up to 50% more errors and accounting work demands accuracy and error-free standards. Moreover, multitaskers take 50% more time to finish the task than their counterparts. This can cause delays, which in turn inflates the client’s budgets and ruptures relationships.
One solution is to allot large periods of time to bigger projects. In any case, uninterrupted work hours lead to productive work than when you’re not engaged with multiple tasks at once.
Delegate To Save Time
One of the biggest threats to productivity for an accountant is wasted time. Delegation is a strategy that can buy time and build the skills of your team. In fact, over 53% of business owners believe delegating at least 10% of their work can help their company grow by 20%.
Delegation reduces time spent on micromanagement so that you can focus on essential tasks while your team manages the rest. Whether it’s invoicing for small business or data entry, delegation can create higher quality work.
If you’re worried about repetitive errors, create a last stage of proofing so that you can send a detailed review after every few tasks.
Stop Emailing At The Desk
We are in an age where email pollution is increasingly common. There is an urge to check emails whether we are at the desk or on the road. Concurrent with the point on multitasking, you lose up to 20 minutes due to necessary refocusing after reading an email.
Instead of checking your email during work, do it when you are free or moving. Another option is to unsubscribe from emails that waste your time. Turn off the notifications so that the alerts do not distract from work.
Power Naps Makes You Sharp
Want extra time so that you can get more work done? Short naps are scientifically proven to improve problem-solving skills and creativity. It can enhance your memory, logical reasoning, and learning abilities, given you take power naps at the same time every day.
Besides reducing fatigue, power naps also increase the alertness of accounting workers, which leads to error-free work. Taking a ten or twenty-minute nap is good for your brain. However, you must not cross the 30-minute threshold as it can kick in sleep inertia, causing sleepiness and disorientation.
Prioritize Meetings By Importance
While all meetings sound important, most are a waste of time. The Harvard Business Review concludes that over 23 hours a week are spent on meetings by executives. This figure was less than 10 hours over 50 years ago. According to MIT, over 23 years of an average worker is spent in meetings out of a 45-year career.
When there are too many unnecessary meetings, it reduces working time, leading to low productivity. Over 65% of workers report that meetings prevent them from completing tasks. In addition, 71% of employees claim meetings are unproductive.
The best solution is to chronologically rate the importance of meetings. You can also hold short meetings instead of long ones. Also make a strict ban against phones, messages, and emails during meetings. Another option is to meet with separate small groups rather than in a large group.
Let Machines Do Mundane Work
Over 70% of the workforce believes the best advantage of automation is how it saves time that is otherwise spent on repetitive tasks. On top of that, 60% of workers say they can save a day per week if some of their tasks were automated.
Your human resources can be channeled to productive and innovative frontiers once you start using automated programs to carry out routine tasks. It can also reduce human errors besides efficiently managing the time of each worker.
Here are three ways automation can help you save time:
- Make use of automation tools like HubDoc for bookkeeping tasks including data collection and entry
- Create an automated system for payrolls inclusive of tax calculations and other formalities
- Set up automatic invoicing to get paid quickly while keeping a track of accounts
Take A Brisk Walk
Going through a creative block? The best way to think out of the box is by stimulating the brain through exercise. A study published in the Journal of Experimental Psychology proves that walking can increase productivity by up to 60%.
Converting break time into a short walk time will subsequently boost your brain function and improve stamina at work. Next time you are stuck, take a short walk around the office before taking another crack at a task.
By following best practices and optimizing your workflow, productivity and creativity can climb dramatically. Try a few of the tips listed above to start realizing results today.