Introducing 5 timesaving, efficiency-boosting, performance-enhancing monday.com hacks.
These actions will drastically improve your communication both internally and with clients. Along with keeping everyone better informed, they’ll save your team hours of time (and money). So, they can focus on the high-value work that actually makes your accounting practice profitable.
1. Simplify Your Accounting Practice & Client Budget Tracking
How can you accurately track where your staff spend valuable time in your accounting practice? With monday.com tracking tools, practice managers can easily monitor staff productivity at a glance.
A Kick Consulting built Budget Tracking Dashboard on monday.com gives you a quick and easy way to track the profitability of each client in your accounting practice. With more transparency into your team's work, you can shine a light on the clients attracting the most staff attention. Then you can ensure high-value clients are given appropriate focus.
A custom-made monday.com tracking dashboard allows you to calculate how much time each staff member spends on a particular client's work. So, you can automatically allocate costs to the correct client account. Relevant information can also be filtered and presented to accounting firm partners in an easy-to-read monday.com dashboard.
You can also offer these same tools as extra services to your clients. So you can streamline client updates. Giving them quick and easy ways to see the progress of their work. You can dramatically improve your service offering, along with your potential revenue streams from clients. When you provide these insightful, powerful, easy-to-read reports. The best part is you can do it at a very low cost to you. While being of high value to your clients.
Estimated timesaving: 3 hours per week.
2. Automate Your Teams KPI Tracking
Finally… you can stop spending hours manually collating spreadsheets for your monthly, quarterly and yearly staff reviews! Our monday.com Accounting Practice Management Solution uses dashboards to 'pull' all the important information from your existing boards.
Your dashboards will show whether staff completed tasks within a set timeline and to budget. It will highlight the workload of each of your staff, along with the hours spent. It can also flag when a workflow lags behind and auto-send notifications to relevant team members to let them know.
The team at Kick can create private dashboards for individual KPIs. Along with team dashboards to keep working groups on track. Providing a level of transparency that is appropriate for different roles in your practice. Both team members and managers can track progress in real-time. Allowing issues to be flagged and addressed before they turn into bigger problems.
Estimated timesaving: 5 hours per month per manager.
3. Turn manual follow-up emails into automated monday.com notifications.
Kick Consulting founder and CEO Elena Korolkova says.
Most of our Kick Consulting clients come to us complaining that they waste hours per day "herding cats". One of their biggest challenges is chasing up outstanding information from clients. Along with status updates from their own colleagues.
Well, relief is at hand! A custom monday.com tracking board allows you to see what information is outstanding at any point in time. It can automatically send follow-up email reminders after a predetermined period. When the status of client work changes and is updated on a monday.com board. Relevant team members will be automatically notified.
You can even create safety measures to recognize outstanding items and escalate follow-up when needed. If actions are not marked as done by a particular deadline. No longer will you have to waste time with productivity-sucking follow-ups. Have your monday.com board do the heavy chasing for you.
Estimated timesaving: 1 hour per day per staff member.
Did you check Increase Efficiency in Your Financial Planning Business Find out how to use them effectively.
4. Automating repetitive bookkeeping and tax workflows
Automating common workflows with monday.com helps dramatically reduce the risk of missing tasks. At the same time, make sure expectations of quality and timeliness are met. It ensures the quality of output stays high and reduces ambiguity around whose job it is to do the next step. Often staff are not sure when something needs to be done. Or what step goes after the next. Automation provides a road map of the journey from start to finish. Along with easy tracking of the progress.
Our accounting clients tend to automate every workflow they can. They start with straightforward ones like repetitive bookkeeping tasks and PAYG calculations. Each client has the frequency of tasks set on their main board. The monday.com solution for Accounting Practices can allocate bookkeeping tasks at the right time and to the right person. You can also incorporate additional tasks like sending electronic documents for signing to the client. Or automatically reminding them how much PAYG needs to be paid and by when.
Estimated timesaving: 1.5 hours per week per person.
5. Involve your clients in the process
One of the biggest efficiency boosters clients get from our monday.com Accounting Practice Management Solution is when they engage their clients in the process. The Accounting Practice can add your clients as guests to the boards. Then restrict permissions to only allow them to see what you want them to have access to. The clients will love it because they can see the progress of outstanding work without contacting the accountant.
Many of our Accounting client's customers would say ‘before monday.com was introduced, their biggest concern was feeling like they’d been 'forgotten’. Once they had provided documents to their accountant, they felt like they were in the dark as to the progress of the work’. This is easily solved with Kick Consulting’s monday.com Accounting Practice Management Solution. It sends automatic updates to clients on the progress of their work. Giving them a feeling of being kept in the loop and ‘remembered’. Our Accounting client's customers say they really value the sense of inclusiveness that this open sharing of information creates.
Estimated timesaving: 2 hours per week.
monday.com is an essential tool for any accounting practice looking to streamline their processes and improve their efficiency. With monday.com's versatile features, you can centralize your communication, automate your processes, track your progress, collaborate with your team, and manage your workload. Give monday.com a try today and see how it can help take your accounting practice to the next level!