Beyond the Year-End Crunch: Building a Continuous Accounting Workflow with Your

1. Beyond the Year-End Crunch: Building a Continuous Accounting Workflow with Your CPA When thinking of an accounting crunch at year-end, we think of an awful marathon never ending! From tax to reconciliation and data sharing, all these activities swirl around hectic and last-minute inconveniences from the CPA's and business owners' self-posed deadline of December. Therefore, how about the plaguing idea of spreading the load over the year? Continuous accounting is sweeping the limelight with the approach of proactively managing finances during the course of their occurrence with an aim to lessen the burden, enhancing accuracy, and improving the relationship with the CPA. With the advent of more user-friendly tools like QuickBooks Accountant Copy, transferring data and constant review has never been easier! This article will look into building a continuous accounting workflow, its advantages, and ways you can get started. What Is Continuous Accounting? Continuous accounting is about taking financial tasks away from the annual and quarterly sprints and integrating them into daily operations. Instead of leaving the CPAs and the companies with financial statements or reconciliations until December, they will enter those activities incrementally. Think of it like cleaning up the desk as you go and not letting paperwork build up for months. This requires access to real-time data, automation of certain tasks, and constant communication. Benefits of Continuous Accounting Less Stress at Year-End

2. Working throughout the year protects one from December burnout. The year 2023 saw a release of a Gartner survey indicating that 72% of finance teams regard year-end consolidation as their biggest source of anxiety. Continuous accounting relieves this burden by resolving any issues in due time. • Better Visibility of Financials • Real-time data allows you to track performance and adapt strategy quickly. For example, if you see a gap in cash flow in July, that gives you enough time to take action, instead of only realizing it in December. • Better Collaboration with CPAs • Regular CPA check-ins keep every party aligned on tax strategies and compliance. Utilizing QuickBooks Accountant Copy ensures secure, continuous sharing of relevant information without interrupting your accounting workflow. • Decreased Error Rate • Monthly (or even weekly) discrepancy trading allows costly mistakes to be avoided. 60% of accounting errors arose during year-end—a Deloitte study. • Benefits of Continuous Accounting Collaboration with QuickBooks Accountant Copy • The introduction of QuickBooks Accountant Copy has really changed the game for continuous accounting. Here's how it works in a nutshell: • Secure Data Sharing: Companies create a read-only version of their QuickBooks company file, which CPAs can work on without affecting the live data. • Ongoing Reviews: Your CPA is able to review transactions in real-time and flag issues or feed back to the company—no more waiting for the year-end closure process. • Efficient Workflow: A CPA can merge back into the primary file any changes made—for instance, adjusting journal entries—with very little disruption to the company's day-to-day tasks. • Example: In June, the CPA recognizes the company miscategorized a recurring expense. The CPA adjusts the Accountant Copy, provides feedback, and the business corrects it immediately, thus avoiding the year-end rush. • Practical Steps for Implementing Continuous Accounting • Adopt a Cloud-Based Tool • Get your people using apps like QuickBooks Online to facilitate real-time information sharing between businesses and CPAs. Cloud-based solutions also provide data backups and remote collaboration. • Schedule Regular Checkpoints • Schedule time with your CPA on a monthly basis (or quarterly is an option) for meetings to discuss finances, taxes, and future planning. • Automate Strongly

3. Zapier is useful to automate annoying and repetitive chores (such as invoice reminders and bank reconciliation). This leaves you free to do actual work. • Train Your Team • Ensure employees understand continuous accounting concepts and know how to use QuickBooks Accountant Copy. • Set Clear Goals • KPIs (like reducing accounts receivable days) should be established to track progress and provide motivation. • Common Barriers and Solutions • Resistance to Change: Teams accustomed to annual processes may resist. Start small—try a monthly review instead of endeavoring to change everyone's behavior immediately to a weekly review. • Information Overload: Too much real-time data would be overwhelming. QuickBooks Reports or other dashboards can help determine which metrics deserve your attention. • Price Concerns: There are ongoing costs associated with cloud subscriptions and automation tools, but they save you considerable amounts in the long run from error reduction and the increase of efficiencies. • Common Questions Regarding Continuous Accounting • Q1: Is continuous accounting only for large businesses? • A: Not at all! The small and mid-sized businesses benefit more in stress decrement and cash flow visibility. Thanks to cloud tools, being affordable isn't an issue with such accounting projects anymore. • Q2: How do I convince my CPA to switch to continuous accounting? • A: Explain the advantages (like fewer year-end surprises) and suggest a trial. Most CPAs appreciate the efficiency gains. • Q3: What if my team is not tech-savvy? • A: Choose tools that are easiest to learn, such as QuickBooks Online, then provide basic training. Only focus on one process at a time (e.g., monthly bank reconciliations).