3 Tips to Streamline Workflow In Your Accounting Firm

June 12, 2021

A company’s accounting process typically indicates whether it has a streamlined workflow or a terrible one. Businesses need an efficient accounting process to operate well, especially if there is an increase in workload.

In order to dedicate more resources to their core business tasks, many companies hire accounting firms that can manage their finances. Aside from daily bookkeeping and tax preparation, many of these firms also offer auditing and consultation services, among others.

However, experts found that only half of accounting firms reviewed their business practices in the last three years and only a quarter reviewed their practices over the previous eight years.

As accounting firms acquire more clients, they risk making missed deadlines, lost documents, and tax filing errors. These can significantly lower a firm’s overall efficiency and hurt its reputation.

To continuously provide good services and client satisfaction, accounting firms should consistently update and improve their workflow.

We’ve listed the top three tips to streamline your processes for your convenience:

Define Employee Roles and Responsibilities

All employees working at accounting firms have various roles and responsibilities to fulfill. In order to maximize efficiency, each employee’s role in the firm and who they work with should be clearly defined. When all employees have defined collaborative roles, they can offer intentional contribution to the company.

Designated roles also create individual accountability so any mishap can be directly and quickly addressed, essential in keeping a smooth workflow. When all employees know and understand their roles, they can also collaborate with colleagues on specific projects. Through this, productivity and efficiency are significantly improved.

Digitize Your Data

Due to the influx of vast amounts of data, the risks of physical damage or loss to documents are imminent. Data organization is a must for accounting firms, especially with the number of clients they handle. To prevent these types of mistakes, it is better to shift from paper to digital.

Once your firm switches from printing documents to sharing digital copies via email and cloud, your firm will experience a massive shift in data flow processes. Digitizing data is also a way of keeping up with today’s technology, which is elaborated in the third and final tip.

Keep Up with Technology

The accounting sector must adapt to the changes in technology to explore more efficient ways of streamlining processes. Using advanced technology like Artificial Intelligence (AI), cloud computing, and blockchain-based software help improve client satisfaction. Through these technologies, your firm can give more accurate predictions and analyses to aid in business growth.

New accounting software also limits manual data entry work, giving accountants more time to focus on strategies and other functions. If the firm leaves the manual work to the computer, its accountants will have more time to allocate to client relationships and management.


These tips, while all well and good, do not become effective right after implementation. You will have to give your firm enough time to transition and adapt to the changes. But once that happens, both employees and clients benefit from an efficient workflow and more streamlined processes.

To plan an efficient transition in your accounting firm, Firm360 offers an all-in-one platform that allows you to manage and organize all the work. We provide project and document management, advance reporting, time and billing, and more.

Firm360 is developed by a team of accountants who understand how consolidating client and project data can be a struggle for firms. Our all-in-one platform can help your firm achieve optimal efficiency in one place. Get in touch with us today to see how we can help with our accounting management software.

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