Time – no matter what you do, it seems like there’s never enough of it. Fortunately, there are small things that you can do to make the most of your time. Here are some of our best pointers to help you be more efficient and productive.
Set agendas for meetings and stay on task
According to a recent study, 45% of employees say that meetings get off track because of side discussions about other projects.
In every meeting invite, include a high-level overview of the outcome of the meeting (e.g., Streamline processes for gathering budget data from each department). This ensures that everyone attending arrives prepared and stays on task.
It’s also a good idea to create a schedule for your meetings. This is especially important when attendees are expected to present information. Giving them a time frame will keep them from wandering off topic.
When the right intentions are set and communicated before the meeting, you’ll find that your meetings are more meaningful.
Find ways to reduce interruptions
Interruptions are a major drain on productivity. A productivity researcher found that we lose up to 28 billion hours each year due to interruptions, at a cost of $1 trillion to the US economy. There are steps you can take to minimize interruptions in your workday. Here are three that may help:
1) Make your accounting software accessible to your auditors
One of the most time-consuming aspects of the auditing process is responding to requests for information. Digging through files to find a document that you feel like you’ve already provided is a pain in the neck.
Give your auditors access to your accounting software. If they can pull their own reports and access data themselves, then they won’t need to ask you.
2) Check your accounting systems on a regular basis
Another way to minimize interruptions is to check your accounting systems proactively. We advise that you check your general ledger at least weekly, and your specialty accounting software tools (such as LeaseQuery) at least every other week.
This will reduce the odds that you’ll find unexpected changes, like new information entered by your colleagues or updates made to the software, when you’re in the middle of other tasks.
3) Use your calendar to your advantage
Do you find yourself checking email in the middle of projects? Do you regularly have one-off conversations with certain colleagues? Do yourself a favor and schedule time for those tasks. If they’re blocked out on your calendar, you’ll be less likely to interrupt yourself because you have a planned day and time to address them.
Microsoft Excel is one of the most valuable software resources for accountants. Most of us have go-to shortcuts that make using Excel easier. Here are our top ten favorites:
F2 to edit the selected cell
Ctrl + Backspace to show the active cell on a worksheet
Alt + Enter to add a new line to a cell
Ctrl + End to go to the last cell of a document
Ctrl + PageDn and Ctrl + PageUp to switch between workbooks to the right and left respectively
Right-click + D to delete a row or column
Ctrl + Arrow Keys to skip to the end of a row or column
Ctrl + Shift + Arrow Keys to skip to the end of a row or column while selecting all cells
After copying and pasting cells with formulas, tap Ctrl, then Shift + V to paste all cells as values
Bonus: If you close a tab that you meant to leave open (like one of our awesome blogs), use Ctrl + Shift + T to reopen your last tab. This works in any browser!
Journal of Accountancy has a few more shortcuts that we like to use in this article.
Pay attention to ergonomics
Workplace safety is often associated with blue collar jobs. But accountants spend a lot of time sitting, often hunched over their keyboard staring at screens. Everything from screen height to the way your chair is built can impact your health, especially during the long days (and nights) of the busy season.
According to the Bureau of Labor Statistics, musculoskeletal disorders (such as carpal tunnel, muscle strains, and low back injuries) account for 32% of “days away from work” cases in the private sector.
That means nearly one-third of workplace injury cases that require time away from work are completely preventable. Ergonomic keyboards, chairs, and monitor risers are widely available and worth the investment. Regularly checking your posture and taking periodic stretch breaks will also help.
Be ready for the new lease accounting standard
For non-public entities, the compliance deadline for the new lease accounting standard is quickly approaching. The more time you give yourself, the smoother your transition will go.
Allow for ample time to build your lease inventory, determine your internal policies, and evaluate lease accounting software. You’ll be glad you did come January 2020.
You may already be looking at lease accounting software options as a way to ease the transition to the new standards. Or, you may just want to lighten the load of managing and accounting for leases in Excel. If either is true, read our blog, “Lease Accounting Software Comparison: What You Need to Know.” It provides all the information you need to navigate software demos with confidence and ask the right questions.