Many accounting firms are beginning to fully transition to remote work, whether to reduce costs, improve work-life balance, or increase the availability of financial professionals. In addition, financial service firms have found that this way of working is more efficient because it facilitates scalability, increases productivity, and streamlines all financial processes. Since working remotely is challenging, it’s important to build a solid business infrastructure and keep up to date with new practices in this industry to ensure everything runs smoothly and efficiently.
Let’s dive into the best practices for remote accounting teams in 2022 and 2023!
Secure web-based accounting and bookkeeping software
Cloud-based accounting and bookkeeping software is another great way to streamline your online accounting and bookkeeping team’s workflow. This type of software allows team members to access financial data and tools from anywhere, at any time.
Since accounting involves working with very sensitive data, the prerequisite for successful online financing is the use of the right digital technology. Working with large amounts of data can take too much time and lead to errors. However, when you integrate the latest technological solutions into your finance processes, accounting teams can work with big data and deliver fast results.
Automation shouldn’t only speed up processes and minimize human error, but it can also improve overall business performance.
In addition to the technical aspects, accounting software and tools should keep all data secure and ensure that no sensitive information is ever compromised. This is especially important considering that accountants handle their clients’ personal and financial records.
Some of the most popular proven software solutions you can use for remote accounting are:
- Exact Online
Proven internal and external channels of communication
Efficient communication between all team members and adequate customer support are the backbone of any remote business. That’s why one of the best practices for remote accounting teams is to determine how they communicate internally with team members and externally with clients.
There’s no one-size-fits-all model, so each financial firm should explore the best options and compare them to their needs. Some accounting teams prefer a video conferencing solution like Zoom or Google Meets, while others opt for a messaging system like Microsoft Teams, Slack, or a combination.
These applications have great features that speed up processes and facilitate communication. For example, you can create channels for each client, such as bookkeeping, accounting, and CPA channel, and add only the team members that match their roles. This way, you have all the information in one place, which eliminates misunderstandings and simplifies communication.
Continuous online accounting and bookkeeping courses for employees
As remote work becomes increasingly popular, it’s important that all accountants are familiar with their duties and company policies, and fully understand the specific needs of clients. Therefore, developing a training system for remote accountants is one of the most sought-after practices in 2022 and 2023. It goes without saying that all employees already have the necessary knowledge and training, but it’s important to integrate with the systems clients already have in place.
By developing a remote accounting training system, companies can ensure that all of their employees are up-to-date on the latest accounting practices and procedures. This not only increases efficiency and accuracy but also builds confidence with clients who know their remote accounting team is competent and knowledgeable.
For example, FinSuperstars is a online finance company that organizes special accounting and bookkeeping course for all employees to keep them up to date on their clients’ financial matters and to incorporate them into the company’s culture and policies. Moreover, in these courses, the team gets to know the client’s company better and is trained and certified for the right tools and software solutions before they start their work.
Clear expectations for both sides
Remote financing can only be of great benefit to both parties, companies, and their customers if they formulate clear expectations from the outset to ensure smooth and productive cooperation.
For remote accounting teams, it’s important to openly address any communication and scheduling constraints and let clients know what to expect in terms of turnaround times for deliverables.
On the client’s side, it’s important to provide remote accounting teams with all the information they need to do their jobs effectively. This includes access to financial records, clear instructions on what you expect from them, and realistic deadlines for deliverables. If there are areas where you need additional help or clarification, be sure to communicate this early so your remote team can make adjustments as needed.
By setting clear expectations on both sides, remote accounting firms and their clients can maintain a productive and successful working relationship.
Flexible and adaptive teams
One of the most important practices for remote teams is their ability to be nimble and adaptable. Because they aren’t tied to a physical office, remote accounting firms can respond quickly to the changing needs of their clients. For example, if a client’s business slows down and they need less support, an accounting firm can easily scale back their services.
Conversely, if a client’s business picks up and they need more support, an accounting firm can quickly hire additional staff or extend hours to meet demand. This flexibility is one of the many reasons why remote accounting firms will be the best choice for businesses of all sizes in 2022 and 2023.
A remote accounting firm should be able to adapt to different circumstances and respond to the changing needs of clients. The flexible and adaptable structure of the team can quickly respond to changes in the client’s business.
Project management tools
Remote accounting firms need to be especially careful when it comes to organization. For remote accounting teams, project management tools can be a lifesaver. They help team members organize their work and stay on track. By keeping all the important information in one place, project management tools make it easy for team members to find what they need when they need it. In addition, these tools help keep track of deadlines and milestones so everyone knows what needs to be done and when. With so many moving parts, keeping records remotely can be a challenge. But with the right project management tools, it doesn’t have to be.
Looking ahead to 2022 and beyond, it’s important to remember that remote accounting can be successful – as long as you have an experienced and highly skilled team on your side.
At FinSuperstars, we not only have experience with remote work, but we can also provide you with the best web-based accounting software, tools, and staffing that can save you 32% on your labour costs.
Contact us today to learn more about how we can help you succeed!