The 2023 tax season is right around the corner, so now is the time to start preparing. Even if you're not the one doing the taxes at your firm, you need to make sure your tech stack is up to par to make the upcoming tax season a success for your cli...
The 2023 tax season is right around the corner, so now is the time to start preparing. Even if you're not the one doing the taxes at your firm, you need to make sure your tech stack is up to par to make the upcoming tax season a success for your clients.
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Although January is a hectic time for bookkeepers with additional payroll deadlines, it's also a prime time to complete tasks that will elevate your firm's reputation in the long run. You can easily get caught up in the frenetic busyness of the month, much less did the best possible work on the clients' books. Here are the top six things bookkeeper's needs in their tech stack for the 2023 tax season. Get familiar with them now so there's no learning curve when it comes time to file taxes.
Use a cloud based software
If you're still using desktop-based software, now is a great time to make the switch to cloud-based accounting software like . They allow you to work seamlessly with your clients, their tax professionals and your team. You don't have to worry about overwriting each other's work or locking each other out of the software, which can be a big stressor when deadlines are looming.
Receipt capturing tool
Receipt capture software can be a lifesaver for transactions that require complex categorization or for when multiple team members submit receipts. Not only does it save you from having to sort through physical receipts, but it also extracts key information from source documents, making the bookkeeping process much easier. Online services like QuickBooks premier cloud hosting can come handy in managing your receipt, sales and invoices.
Manage your schedule with scheduling software
No one has time during tax season for a bunch of back-and-forth to schedule a meeting. Using scheduling software will save you and your administrative staff hours of time and loads of frustration. Create a link specifically for CPAs and other tax pros, and block off time each week to meet with them. This will help you better manage your time and build relationships with potential referral partners. If you need to schedule a meeting with more than one person, try using scheduling software that allows you to see three or more calendars at once. This way, you can easily find a time that works for everyone without the headache of coordinating multiple schedules yourself.
Keep video conferencing software
Video conferencing platforms are a great way to stay in touch with your clients without actually being in the same room. However, one downside of these platforms is that there's no easy way to keep everyone on the same page. Plus, if you need to share something with the client, you'll have to do it through email or their client portal, which can be distracting. Make sure you have more flexible and supporting software for your online video meetings.
Client management portal
During tax season, the emails never seem to stop. You constantly remind your clients not to send sensitive information via emails. Fortunately, there are a number of tools available to streamline client communication and document sharing. A client communication portal keeps your inbox tidy, protects sensitive client information and allows your whole team to interact with and assist clients - a must-have feature for those times when a staff member is out of the office due to illness or an emergency.
Use 1099 software
If you're not using general ledger software that can prepare, e-file, email and mail 1099s on your behalf, then you'll want to consider using dedicated 1099 software instead. It is highly essential to have a 1099 software dedicated just for the tracking of what you have done till now just in terms of 1099.
Final Words
With so many choices of technology tools available, it can be difficult to know which ones will be the best fit for you, your team and your clients. The best way to choose is by familiarizing yourself with each tool and how they work together. This way, you can avoid any potential disasters come tax season.
No doubt tax season is considered a busy time for many people. Taking just 10 minutes out of each day to focus on mindfulness can help you better manage this stress. Additionally, it can lead to more creative problem-solving and make you less reactive. Whether your team is entirely remote or working from the same office, an internal communication tool is the key during tax season. The right tool will not only streamline work-related communication, but it will also provide a sense of community during this stressful time of year.
