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Tag: small business accounting software

7 Key Ways To Foster Innovation In Accounting Firms

It’s rightfully said that there’s no such thing as standing still in business. We’re either growing or declining, and there’s simply no in-between.

7 Key Ways To Foster Innovation In Accounting Firms

This is probably even truer in the area of accounting, as there have been a number of important developments in recent years that demand change and a willingness to adapt.
Probably the most important of these developments have been the concept of machine learning and the arrival of the phenomenon that is Big Data. The immediate challenge of Big Data is how to obtain it, so there is a gradual move to robotic processing of information.

These new challenges should not be faced with fear or trepidation, as they are opportunities as much as challenges. So with that in mind, let’s have a look at how innovative accounting solutions – such as introducing small business accounting software like Sage 50 – is just one of the routes you can take to greater innovation.

  1. Innovate Your Processes And Look To New Technologies With Confidence:

    Unlike bygone days, the modern-day accounting firm is a partner to its clients, and much more is expected of it outside the sole area of financial bookkeeping. Today, accountants are expected to provide a highly informed view of the client business, plus the sector it operates in.

    Accounting innovation, of course is one of the keys to unlocking this additional time by automating repetitive tasks that don’t add much value to the client relationship. This and other ways of reducing time inefficiencies is by embracing the benefits of small business accounting software such as Sage 50.

  2. Be prepared to experiment:

    One of the biggest problems with doing something for the first time is that there’s no road map – nobody to tell you that this is how it should be handled. So, it stands to reason that the failure rate for genuinely innovative offerings will be higher than a ‘safer’ route, where you keep on trotting out the same offerings.

    In other words, you have to build in an element of trialling. For example, you might invite a small handful of clients to take part on a pilot programme, so these will be the only ones who know if the programme is not as successful as first thought, but maybe not all of the idea needs to be discontinued.

  3. Make sure it starts from the top:

    Genuine innovation involves a big change for the company – and for its staff. In order for it to be truly embraced at the earliest possible stage, the commitment to innovate needs to come from the very top. If it’s seen that there’s a genuine hunger for innovation at senior management level, then there’s a much greater chance of getting your staff on board.

  4. Look to services outside your normal offering:

    One of the greatest contributors to stagnation and decline is the notion of ‘sticking to what you’re good at’, i.e. trotting out the same old services, even though the demand from the market may have moved on. You may always have been regarded as the go to guys for Mergers and Acquisitions, but this doesn’t have to mean that you can’t be considered in other fields as well? And remember that the greater the number of services you offer, the greater your income stream, and the greater the opportunity for cross-selling or upselling.

  5. Change your markets:

    For some accounting firms, they tend to make a name for themselves in a particular market sector – especially in the early years. Once they’ve landed their first Distribution Company, for example, there’s a danger of seeing themselves as a Distribution Company specialist. This is fraught with danger, however, as it tends to blind you to other opportunities. Could small business accounting software such as Sage 50
    help you to become a master-partner for all SMEs, for example, or become the go to firm for start-ups?

  6. Look to other industries for inspiration:

    If you want a long-term relationship with a client, there’s a lot to be said for copying the best practices of companies who do this well. The advertising industry, for example, will frequently have a dedicated Account Service Director, who takes a helicopter view of the relationship, and looks after the big picture elements of the business. Having this form of relationship in place can yield real results in cementing the relationship. For example, if a particular client is cash-poor at a particular time of the year, reflecting this in your monthly billing could be hugely appreciated – and lock in the client for the long haul.
  7. Innovation takes time:

    We all get bogged down in the day-to-day minutiae of our jobs. But if fostering innovation in accounting is to be given a chance to flourish, there is a need to put aside quality time. This could be a company away day, for example, when the brightest minds in the organisation are given free rein to come up with the ideas that will drive the business tomorrow. Also, don’t forget that the best ideas can come from any source, whether it’s the office junior, an intern, or even a client. So make sure that everybody has easy access to management if they come up with something big. This could be anything from an old-fashioned Suggestion Box to a quarterly Ideas Lunch where staff can chew the fat with each other and see what comes up. So there you have it – seven great tips for making sure that your company constantly reinvents itself – and constantly remains relevant to your client. If you even introduce one or two of these practices, we’re confident that you’ll be well on the way to a more innovative and fearless company.

4 Simple but effective Sage 50 tips to follow

Sage 50 is an easy to use online accounting software solution for small and medium sized businesses. Sage 50 offers features such as accounts payable, accounts receivable and cash flow management.

  1. Know your Sage 50 Support options:
    Having excellent Sage 50 Support on hand and readily available is vital as when you have questions and problems you will need an answer straight away to avoid downtime and other complications. Pimbrook has achieved numerous business awards over the years for their excellent Sage 50 Support, such as ‘Sage 50 Irish Partner of the Year’ 2015, 2016, 2017 and overall Sage Partner of the Year for 2018 and while we are proud of these, our main focus is to always deliver to our clients, exceptional Support, at all times.
  2. Compile a Monthly Sage Accounts Checklist:
    By preparing a monthly sage accounts checklist you can make the process of doing your monthly accounts easier and more efficient. When doing your monthly accounts through Sage with your newly prepared checklist on hand you will be sure that won’t let anything important pass you by.
  3. Know your Sage Function Shortcuts:
    The Sage function keys are designed to save you time and effort in the often fast-paced office environment where time can regularly be in short supply. Sage key functions from F1 to F9 are all designed with specific shortcut functions such as F1 which when pressed will generate the relevant help topics for that particular screen or F5 which when pressed opens a currency converter in a numeric field and also a spellchecker in a text field. By learning off your Sage Function key shortcuts you will not only increase your speed efficiency but it will also make the work that bit easier for you.
  4. Protect your data:
    As the data stored on your Sage 50 Accounts can be of a sensitive nature it is paramount that your Sage 50 Accounts are not only secure but maintained regularly to ensure their security. A great way to protect your data and ensure its safety is to schedule daily backups so worst case scenario you will have the most recent copy of your data saved from earlier that day should anything go wrong. Backups can be scheduled through The Sage Accounts Backup Manager.

For more information on Sage 50 and our excellent accounting solutions please feel free to get in touch with Pimbrook Software Ireland’s overall Sage Partner of the Year 2018.

9 Great Survival Tips for Entrepreneurs Without Accounting Skills

If you’re planning a new start-up, or are already trading, accounting software for small business can be your friend – especially if you lack accounting skills. Any Accounting Software is better than none, but specialist Small Business Accounting Software is obviously best.

9 great survival tips for entrepreneurs without accounting skills

We recently came across a survey of entrepreneurship in Ireland from Enterprise Ireland, which had some really interesting figures on the levels of get-up-and-go in this country. Although the survey was carried out in 2017, it’s still a pretty accurate reflector of where we stand in the global rankings, as measured by the independent TEA Index.

The Index measures two groups of entrepreneurs – nascent entrepreneurs and new business owners. The first category is those at a very early stage, for example, planning the start-up, organising a team, getting money together for a start-up, as well as those that have progressed further and recently started the new business, but have not paid salaries for more than 3 months.

New business owners were defined by the survey as “people who have started a new business since January 2014, and have paid salaries for at least three months. These entrepreneurs at least part own and manage the new business.”

According to the survey, as many as 9 in every 100 Irish adults aged 18-64 said that they are actively engaged in the very early stages of starting a business (6 in every 100) or
have recently started a business (3 in every 100).

This puts us at number 6 in the rankings of 20 European countries. Interestingly, we scored ahead of counties such as France, Germany, and Italy. With so many entrepreneurs in our midst – many of them without an accounting qualification – we thought we’d offer these survival tips to help them get through those vital early days and years including use of Small Business Accounting Software. If you opt for accounting software for small business, you’ll get a product that’s specifically for companies just like yours.

  1. It’s all about the numbers – and Accounting Software can help. A lot of business plans are very high on marketing visions and intentions, but not so high on actual budgetary milestones? But if you don’t set financial targets for growth, sales etc., it’s very hard to keep your focus on what’s really important. Setting financial targets, (for example, achieving 5% year-on-year growth), is essential for helping you stay focused, and to give you something to measure success against. Otherwise, you can get sucked into ‘business’, but without putting your efforts into the areas that matter most. If doing it manually proves too time-consuming then maybe some low-cost Accounting Software is in order.

  2. Don’t let things build up – Accounting Software for Small Business can help with that. There can be a temptation to leave your accounts work till the end of the year, when you’ll pull all your invoices, outgoings and inward payments together. This can be a massive chore. It’s much easier – and much more sensible – to do this on a monthly basis. It’s much more manageable, your end of year chore is limited to adding up the totals of each of these twelve months. And using Accounting Software for Small Business obviously makes the task even easier.

  3. Accounts need to be updated – so consider Small Business Accounting Software. Things can change very rapidly for new start-ups. This is why it’s so important that you sit down at the end of each week and review where your revenues are, where your outgoings are etc. A budget that seemed okay a month ago may be barely recognisable now, so review, review, review. Using Small Business Accounting Software can make this task so much easier for you.

  4. Your time is limited, so use it wisely, with the help of Accounting Software. As a new start-up, your time will be in huge demand. You will likely be expected to be inputting to sales, marketing, financial management, HR – and the whole nine yards. Until such time as you can afford to hire some back-up specialists, it’s essential that you don’t become a firefighter. Instead, you need to develop time management skills – particularly in the area of prioritisng tasks and differentiating between what’s urgent and what’s important. Automating tasks with Accounting Software can save you a whole heap of time – time that can be better spent on growing your business.

  5. Look to the future – with the help of Accounting Software. Assuming that you know what’s going on right now in your business, you need to be aware that things may look very different at the end of the year. You may add staff, for example, so your wages bill will be very different. Or cash flow may increase as you get a lot more invoices issued as your business grows. So look forward as well as backwards when you’re putting figures down on paper. That way, there’s much less chance of a major shock three months down the line. Choosing reputable Accounting Software can make huge inroads into this task.

  6. The easiest way to make money is not to spend it – Accounting Software for Small Business can help you keep an eye on it. Even if your business is very small at the outset, you need to develop good habits when it comes to scrutinising the costs of running your business. No amount is too small when it comes to savings. If you save a postage stamp by emailing a document, you’re much more likely to be equally aggressive when it comes to examining bigger costs such as wages, utility costs, rental for your premises etc. You can keep an eye on spending much better by investing in Accounting Software for Small Business.

  7. Don’t be afraid to set out payment terms at the outset – and keep an eye on cashflow with the help of Accounting Software for Small Business. Many companies starve to death from lack of cashflow in the early stages. The best way to protect against this is to make sure your new clients know when you’ll be invoicing them – and when you expect to get paid. Sometimes, new startups believe that this sort of a conversation could lead to losing the sale, but if your new client isn’t prepared to pay on time, are they really worth it? Also, if you work in a high-margin area, you should consider offering reduction for speedier payment, e.g. a 2.5% reduction if paid within five days of invoicing. Keeping an eye on cashflow is child’s play with Accounting Software for Small Business.

  8. Don’t feel that you’re all alone – a network of your peers and good Accounting Software can give you the support you need. Being the boss can be a lonely old place in the early days. But remember that there are hundreds of others in your locality who have gone down the road of setting up their own businesses. Whether it’s joining a formal network or just hooking up for an occasional coffee with someone you know who’s built a business, it can be hugely reassuring – and hugely informative. And remember that you can also get a huge level of reassurance by having good Accounting Software work alongside you!

  9. Don’t forget that technology – including Small Business Accounting Software is your friend. Use all the innovative accounting technology you can to help you keep track of your income and expenses more easily, set alerts and reminders, manage workflow, and stay up to date with all your day-to-day business efforts. Small Business Accounting Software can make a huge contribution in this regard.

3 Areas to Save Time in Sage 50

Boost your productivity and free up valuable time with these three clever Sage 50 tips. By investing just a little time now in familiarising yourself with these areas, you will save a lot of time by automating recurring chores that can eat into your valuable time. It will also mean that you are making the most of your investment in Sage 50 Accounting Software (the latest version of which is known as Sage 50c).

Automate Those Time-Consuming VAT Returns with Sage 50

If you work in any field of commerce, you’ll know that VAT (Value Added Tax) is a tax charged by tax-registered companies on goods and services supplied.

As we write this blog, there are three different rates of VAT charges:

Standard 23%
Reduced 13.5%
Zero 0%

Unless you are operating under the Cash Accounting Scheme, you will pay VAT when you issue an invoice to your customer, or reclaim VAT when a supplier sends you an invoice.

VAT Cash Accounting is slightly different, and means that you only pay VAT to the Revenue when the customer actually pays that invoice you have issued. It allows businesses to protect or utilise VAT for cash flow reasons. In a nutshell, you only become liable for the VAT amount when you actually have it in your bank account.

As a business owner, you are obliged to be compliant at all times, and return the correct details to the Revenue within a specified deadline. Normally, you will be making these VAT return on either a two-monthly or a four-monthly basis.

If a company decides to carry out its VAT computations on a manual basis, not only does it take valuable time, but you are also open to basic human error. It’s amazing how a single error in addition can leave you grossly misrepresenting the amount of VAT due, which may result in your making an unnecessary over-payment, or worse still, under-paying Revenue and possibly leaving yourself open to interest or penalties.

With Sage 50 Accounting Software (Sage 50c), however, all this work is done for you – saving you a huge amount of time and effort. All the relevant transactions are populated into the VAT area of Sage 50 to produce the correct data for your return, and you can send it off to Revenue safe in the knowledge that it is 100% accurate every time.

Not only is this super-fast and super-efficient, but it also means that a simple but costly maths error is completely out of the question.

Sage 50 Accounting Software (Sage 50c) will also cope with transactions being entered after the cut-off date, so that it is included in the next return. All that reconciling and calculating is done for you, quickly and efficiently and without any input on your part.
And to finish off the entire process for you, it will produce the support reports and documents in PDF format. This means that you can save them safely and securely, and can always access them again should you need to through your VAT module in Sage 50 (Sage 50c).

It’s also worth pointing out that Revenue are also pushing all businesses away from paper submissions to online submissions. This obviously makes sense in terms of overall efficiency, and is in keeping with the move to automating everything through the ROS portal.

Sage 50 (Sage 50c) can not only help you to create the file, but will also automatically upload it to ROS on your behalf. It’s fast, it’s slick and it makes your business function that much more professionally.

File your RTD with Sage 50 Accounting Software

Following on from being a VAT registered company, you must also submit an annual Return of Trading Details form to Revenue. Effectively, this represents a summary of all your VAT trading activity.

The return is usually based around the company’s accounting period, and there are strict rules around the deadlines for these returns. It’s a task that could easily be overlooked, leading to potential penalties on the part of Revenue.

Sage 50 Accounting Software (Sage 50c) include rules around calculating these details, and you must ensure your system is set-up accordingly to record the data. Set-up is fairly simple and quick, and once you’ve done it once, you can forget about it thereafter.

Again, once you have this data recorded, it is easily transferred to Revenue via the ROS system. The whole system is fool-proof, and will save you a lot of time and energy, but more importantly than this, it will give you the peace of mind of knowing that your returns have been made on time – and completely accurately.

Bank Reconciliation via Sage 50 Accounting Software

Back in the bad old days, you started with your T-Accounts, balanced the books and then prepared your Bank Reconciliation, starting with your opening bank balance, unpresented items etc. and trying to get back to the closing accounts balance. Not alone was this very time-consuming, but if just a single item had been omitted, it could take you days to find the problem and arrive at a final reconciliation.

Thankfully, those days are well and truly over. Reconciling in Sage 50 Accounting Software (Sage 50c) couldn’t be simpler. It’s been reduced to just a tick and check exercise.

It boils down to matching your Sage 50 transactions to your bank statement. And you know that if you have paid all your suppliers, and received all your customer payments, you have the correct starting point for the reconciliation.

But what the Sage 50 Bank Reconciliation also points out very quickly to you is any missing transactions – such as bank charges. And to avoid any delay in the entering and reconciling of these items, you can create the charge while completing the Sage 50 reconciliation.

When it comes to the next reconciliation, all the items that have been previously reconciled are cleared from the list, and your last reconciled balance is brought forward. All the reconciled and unreconciled items can be saved and ready for any audit.

So there you have it – three simple ways to save time and energy – and increase your level of accuracy. So what are you waiting for – get cracking with Sage 50 Accounting Software, now known as Sage 50c.

Sage 50 Accounting Software can save valuable time and increase your productivity.

If you have any questions or specific requirements Email us now! or Call us on Tel: 051 395900

 

Sage 50 Top 40 Tips

Sage 50 Accounts Top 40 Tips

Sage 50 Version 24

Sage 50 Accounts can save valuable time and increase your productivity with these 40 simple Sage 50 tips. By spending a short while getting familiar with them, you’ll make the most of your valuable accounting software, and free up time for more productive work on driving your business forward. And remember that if you’re new to Sage, the latest version of this award-winning software is known as Sage 50c. So with that, let’s get into our Top 40 Tips.

Sage 50

Sage 50 Accounts Top 40 Tips

 

Make the Most of Bank Feeds in Sage 50

Did you know that you can use bank feeds to download live bank transactions into your software? You can then compare them to your transactions in Sage 50, matching transactions and ensuring that nothing is missed.

Sage 50 - Reconciling your bank
Sage 50 – Reconciling your bank

Rely on Cloud Backup with Sage 50

We all love the security blanket of automatic cloud backup. It’s ultra-easy to back up your data to Microsoft OneDrive, so why not avail of it.

Emailing Your Invoices

Posting invoices in conventional format is costly and time-wasting, so why not email your invoices directly from Sage 50?

Drill Down Through Your Reports

It’s good to have a top-line report, but even better when you can drill down into the detail behind the big picture. Take advantage of this useful feature in Sage 50.

Microsoft Office 365 Help Centre

Sage 50 is linked to Microsoft Office 365*, and there is a dedicated Help Centre to address common Office 365 queries.

Sage 50
Sage 50

Schedule Your Backups in Advance

When using your accounting software, leaving backups to chance is crazy, so avail of the ability to schedule backups to run automatically in Sage 50. There’s no need to log out while doing so.

Sage Backup
Sage Backup

Use the Check Data Feature

Running the Check Data option in Sage 50 lets you spot any issues and nip them in the bud on the spot. Run it regularly for extra peace of mind.

Don’t Forget the Shortcut Keys

When using the batch entry windows on your accounting software, F8 will delete a line while F6 will
copy the field above. These and other shortcuts can save you a whole heap of time.

Support and Training for Sage 50

Remember that Pimbrook offer extensive support and training on your accounting software, so don’t be afraid to use it!

Quick Print

You can print out your invoices from your accounting software with a single click by availing of the Print Invoices feature.

Press F1 for Help

We all run into problems now and again, but by pressing F1 for Help, you’ll get the answers to your problem right away.

Demo Data and Practice Data

If you’d like to experiment, your accounting software comes complete with dummy companies to help you do so.

Handling Recurring Entries

You can set up things like direct debits or standing orders as recurring entries in your accounting software, saving yourself a lot of time in the process.

Credit Invoice in a Single Click

If you want to generate a credit note on your accounting software based on the invoice you are crediting, there’s no need to re-key the information.

Capture Invoices & Receipts

You can take photos of your invoices & receipts and link to a transaction in Sage 50 with the Sage Capture app.

Adding Negative Values to Invoices

Not everyone knows that you can add negative values to your invoices with Sage 50.

Using Quick Search

You can use the Quick Search feature to find records without the need to create a full search or filter.

Transaction Detail

Using the View Transaction feature in your accounting software will give you a complete breakdown
of the transaction details.

Batch Reporting

Instead of running the same reports each month on an individual basis, why not run them as a batch instead?

View Users

If you need to know who’s logged in to your accounting software at any time, just click on the User List.

Using Analysis Fields

Use the custom fields in your accounting software to enter your own codes or references.

Quick Emailing

Did you know that you can email quotes, orders or invoices with a single click?

Sage 50

Configure Shortcuts – Function Keys

Sage 50 includes two shortcut keys that you can configure for whatever function you want.

Duplicate Option

The duplicate option can save you a lot of time and energy when you are creating a lot of records or invoices that are similar in format.

Batch Changes

Batch Changes is a great tool for when you want to change the same field on a multitude of records in your accounting software.

Handy Global Changes

Changing a financial value – such as a budget increase – can be done simply by using the Global Changes wizard.

Set up Price Lists

You can set up price lists for a product, a single customer or a group of customers.

Using Foreign Trader

With Sage 50, if you trade overseas, the Foreign Trader options are available as standard in the Professional and Client Manager versions.

Nominal Link Feature

If you use Sage 50 and Sage Payroll, why not link them simply by using the Nominal Link, which will automate the posting of salary journals.

File Import

If you have information that’s been produced in a different source, just use the Import option to access it quickly and easily in your accounting software.

Send to Excel

You can simply export your data to Microsoft Excel for simple reporting and management information.

PDF Passwords

In Sage 50, you have the ability to create letters or reports in a password-protected PDF format.

Reconciling Bank Accounts

Be aware of what’s in your bank account at any time by reconciling regularly.

Using the Lock Date

If you have finished reports and want to stop posting into previous months, just use the Lock Date feature in Sage 50.

Use Colour to Break up Lists

Using colour on alternate lines is a great way to help you stay on the correct line. Just click Tools, Options and Colours.

Archiving Your Data

Archives are a simple but handy way to create a helicopter view of your business performance.

Use the Favourite Function

Sage 50 has many reporting options, but some of them will be used by you time and again, so why not Favourite them to help find them more quickly next time you need them?

Layout Rename Description

If you want to change a layout description, all you have to do is right-click the description and click Change name and description.

Auto Updates

The Auto Update features means that your accounting software is always right up-to-date. Just click Tools then Internet Options, then select Automatic.

Sage Pay

Sage Pay, integrates with Sage 50 and is a brilliant way to make sure you’re paid on time – every time.

Sage 50cloud Accounts can save valuable time and increase your productivity.

If you have any questions or specific requirements Email us now! or Call us on Tel: 051 395900

 

* Included with 50cloud Standard and 50cloud Professional. Available on 50cloud Essentials for an additional charge.

Give your business a cutting edge in 2018

It may be a little early to think of the Christmas holidays, but here’s a thought that we’d like to plant with you. Most companies in Ireland tend to come to a halt for well over a week between Christmas and the New Year, and when you’re sitting at home in those long days after the turkey has been cleared away, it’s a fantastic time to come up with some fresh thinking for your company.

While you’re relatively relaxed – and without the daily pressure of the office – you can achieve great clarity of thought. Why not put it to good use by working on three or four core items that will give your company an edge in 2018? In no order, we’ve come up with the following:

 

Are you set up for success?

Accounting and Payroll operations

There is a huge amount of research evidence to support the claim that employees are significantly more productive when working in a physical space that suits their needs. Some people may prefer the privacy of a closed office, while others may prefer the more social nature of an open plan space. The key point here is that not all employees are the same, so it’s great to be able to offer a choice of working environments.

And it’s not just whether you opt for open plan versus private offices that impacts on staff. Humans react positively to factors like light. Natural light if best, of course, but if your offices are short on natural lighting, there are umpteen solutions on the market that can simulate natural light, with a proven ability to improve mood, energy levels and concentration.

We’re not suggesting that you spend a fortune in remodeling your workspace, but some thought to how you structure your offices could pay rich dividends in getting the most from your staff – and creating a workplace that suits their many different needs.

This could be as simple as tackling an old storage room that’s not doing much and turning it into a brightly coloured and casually furnished breakout room where your staff can go for informal meetings, think-ins or just to get some quiet time to concentrate on a difficult project.

 

Are you getting enough from automation?

Your staff are not just your most expensive asset – they’re also your most important. It stands to reason, therefore, that you’ll want to use them to best effect – on tasks that will make a real difference such as forging great relationships with your clients or coming up with new business initiatives.

To this end, it pays to make sure that as many as possible of your day-to-day office tasks are automated. For example, by calling on payroll software or accounting software to drive your company forward, you are freeing up hundreds of hours each year – hours that can be used on much more productive tasks. And don’t be put off by believing that software solutions are designed for bigger companies – there’s no shortage of accounting software for small business that can transform how you take care of time-sapping day-to-day accounts work. The latest edition to the Sage 50 family of software is Sage 50c, and it is a leading accounting software in the Irish market for small to medium-sized businesses.

It automates a whole host of tasks in areas such as Accounts Payable, Accounts Receivable, Cash Flow Management, Inventory Management and Invoicing. Each of these tasks, on their own, can sap a huge amount of man-hours, but when you combine them, the savings that automation yields are even more dramatic.

The best accounting software for your business is a solution that addresses not just today’s needs, but that also has the capacity to grow with you, without requiring a further major investment in the future. Choosing your small business accounting software could be one of the most productive things you could possibly do over the Christmas holidays. And wouldn’t that be a fantastic Christmas present to your business?

 

If you’re not a ‘natural delegator’, now is a good time to address this.

People often believe that they are naturally good at some things – and naturally bad at others. The fact of the matter, however, is that most skills can be acquired, and the ability to delegate very definitely comes under this heading.

Many executives feel an unnecessary degree of stress each year because they take on too much responsibility – not just for overseeing various tasks, but also for micro-managing them.

If you think you could do with some extra layers of delegation in 2018, here are five simple questions to ask yourself to check if it’s appropriate. If you can answer yes to most of them, maybe it’s time to hive off some of the work next year.

  • Is there someone else in your company who already has – or could be given – the expertise or knowledge to carry out the task. In other words, is it critical that YOU perform the work, or can you let go of it?
  • Could someone else in your organisation grow and develop their skill set by carrying out the task?
  • Will this task crop up again in the future? In other words, will you be doomed to carry it out forever if you don’t delegate it to someone?
  • Have you got enough time to spend on delegation, i.e. explaining what’s required, possibly giving training or advice, and being available to intervene if any problems arise?
  • Is this a task that’s better suited to someone else’s skills? This isn’t always the case, as recruiting new team members, for example, may be something that genuinely needs your experienced input.

 

If you’re not a ‘natural delegator’, now is a good time to address this.

We’re not by any means suggesting that a few hours solid thinking over the Christmas break will work miracles by itself. But it can mean that you come back to the workplace after the holidays with a clear picture of what you want to achieve – and perhaps a few starting points on your journey to a more efficient, more effective and more automated business.

And if you get it right, we promise that it will become part of your ‘Christmas routine’ from here on in. After all, who can quibble with a better business?

Spend some time over the Christmas holidays thinking about how you can improve your accounting and payroll operations – as well as remodelling your workspace. To find out more about our cloud-based solutions, call us at 051 395 900