A Day in the Life of an Accountant
Have you ever wondered what a typical day looks like for an accountant? Perhaps you picture us buried under spreadsheets and calculators, staring at numbers all day long. Admittedly spreadsheets and calculators do feature quite heavily but there’s lots more besides. Make yourself a cuppa and join me for a typical day at JMB Accounting.
Bright and Early:
I’m up early nowadays as we have a new furry four legged addition to our home, a mini husky who goes by the name of Sheeba. This is the best time of the day. I can get on with some work without interruptions and catch up on some online shopping too. My daughter is approaching a big birthday so I need to get some present ideas!
I like to check out the bank balance and Xero and make sure all scheduled direct debits have come in and gone out. Next I approve any draft invoices issued by the team and raise any others for adhoc work completed. Then I carry out a couple of reviews for VAT or accounts and my client managers will finalise the work later. Afterwards a quick scan of Accountancy Daily. The morning is also a good time to catch up on some email admin and review the list of work for the day.
Next it’s time for a family walk. I can’t let Sheeba off the lead yet, so slightly tricky around passing runners and other dog walkers, but it’s getting easier! I may meet a client so I have to remember to look half presentable!
Mid Morning:
Once I get to the office, we try to start the day with a huddle for 5-10 minutes when we let the rest of the team know what work is expected in, whether any meetings are taking place, and who might have phoned for some figures or information. We also let the team know who we are working on today as it often highlights a conversation or message that might have taken place earlier. I answer any questions the team might have on individual client work.
This morning I’m working on some tax returns. Managing tax affairs can be complex and time-consuming but our comprehensive tax return service takes the hassle out of the process, ensuring that tax obligations are accurately and efficiently dealt with. Today I’m working on paperwork for some of our sole trader clients. I also have some Capital Gains Tax paperwork to focus on as there is a very short window for these returns.
I’m meeting with a new client this morning and we discuss the onboarding process and what the journey with JMB looks like. We look through their business plan together and I talk through the pros and cons of each business status so they can choose whether to set up as a sole trader, a partnership or a limited company. We also talk about the benefits of our payroll service which helps avoid the angst of getting it right on time and every time.
Afternoon:
I wish I could say I go for a lunchtime walk. Whilst this would be more beneficial, the reality is that I usually catch up on emails and eat at my desk. Note to self – I should set a better example to the team and take a break away from my desk!
After lunch I work on some Management Accounts for a client. At JMB we can oversee everything on behalf of our clients, from annual accounts to preparation to HMRC submission, as well as budgeting and cash flow forecasts.
This afternoon I’m meeting with one of my long standing clients, many of whom have been with us since they first set up in business. We are discussing all important exit planning strategies. It is really important not to leave it too late to consider exit planning as creating an action plan gives you security in early implementation. It also has the added benefit of making improvements within your business.
Late Afternoon:
If I’m lucky I can grab a little time to take in a webinar on business development or some professional training. I also work on some marketing tasks, maybe approving posts to go out on social media over the coming weeks, responding to LinkedIn messages, sending out requests to connect etc.
At the end of the day a client pops in for a pre-arranged meeting. I like to be flexible and offer clients meeting times that work for them – this time of day is quite popular as business owners can finish work first rather than disrupting their day.
Evening:
I tidy up for the day, prepare my to-do list for tomorrow and leave the office. I’m working hard to improve my work life balance so I’m trying to be home ready for a family walk at about 6.30pm, before relaxing on the decking with a nice glass of red. I’m really lucky that my husband does most of the cooking which gives me an hour to catch up on one of my favourite programmes – Masterchef Australia! Then I might do 30 minutes or so on business development before turning in for the night. Never underestimate the power of a good night’s sleep to restore the body and mind ready for another busy day tomorrow!