BUSY SEASON MANAGEMENT

SURVEY RESULTS: CPAs’ Best Advice for Busy Season

Busy season this year comes amidst the worst economic crash in a generation. How are CPAs handling it?

Actually, not too badly. At least not yet.

True, the economy remains the biggest worry, and collections could become an issue. But CPAs are focusing like lasers on their clients. Here’s a pictograph of the verbatim answers we’ve been getting to our Busy Season 2009 survey (Join the survey; get the updates):

It shows clearly that CPAs remain more focused on service than cuts – although those could come eventually.

Here the sampling of the verbatim comments that went into the pictograph.

[SURVEY QUESTION: What’s your best advice for managing in these tough times? What are you doing at your firm or company?]

  • Expand IT and software consulting. Take lots of QuickBooks set-up/fix-up gigs.
  • Choosing not to participate in the bad economy.
  • Nothing different. I try to work as hard as possible to deliver the best service to all clients at all times. My attitude is always-if I take care of my clients priorities first everything will work out fine for me.
  • Think positive
  • Get clients to pre-pay or put a deposit down on all tax work.
  • Trying to schedule better
  • Keep an eye on your cost. Work with clients on payment, but do not allow them to owe you for an extended time.
  • cut expenses
  • Cash and carry is king this year–both tax and audit/review work. Some fall out on personal tax clients going for “cheaper” solutions, but not troublesome…… yet!
  • Delaying all office upgrades
  • Watch staffing and expenses. cutting overhead costs and tracking staff metrics closely
  • Stay in front of clients. Make sure they are aware of all that you do for them.
  • CPAs are not an expense but a value to our clients. We provide returns on their investment in our services.
  • Reducing services to clients that appear to be in financial difficulty.
  • I have asked and received retainers on consulting projects for turnaround projects.
  • Trying to collect up front
  • Trying to do a better job explaining the tax law changes and the benefits to the clients
  • Stay lean and mean and try and hold fees in check to help out your clients – it will pay off in the long run.
  • If revenues are to decrease, the collection is even more critical than normal. We ask that payment accompany the executed e-file authorization forms; paper returns are all COD.
  • Stay focused. Set priorities and follow through.
  • Not increasing fees
  • Tel clients to have faith and be patient
  • Make sure you collect your fees and be prepared to offer concessions to retain long term clients. That’s what we’re doing.
  • Try and give long term clients a discount on returns and any client over 60 days last yr request payment upon pickup and some clients are required to put down retainers before we start. Staff has been prepared for limited salary increases to weather the financial storm.
  • Strive to maintain a positive mental attitude, remain focused, write down your plan for the upcoming week, and handle client service based on firm/client priorities.
  • Service – service – service. Do more for what you are getting paid for. Keep contact with the client. Remind them why they need you.
  • Proactive client contact.
  • Stay focused on billing. Bill more often. Be ready to ask for a retainer. Stay positive.

SEE MORE FINDINGS FROM THE “BUSY SEASON 2009” SURVEY SO FAR:

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