Today's Technology for Tomorrow's Firm.
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November 2015 • www.CPAPracticeAdvisor.com 15 It may be tempting to wait until afer Ta x Day to think about your 2016 goals when all of the flings and tax notices are behind you. But, in doing so, you've already missed out on one-third of the year to accom- plish any goals your frm set out to achieve. Planning ahead now also gives you the opportunity to forecast your f irm's needs for the busy ta x season. Identif y both your short-term and long-term goals for your frm. Create a plan for the upcoming year, but also consider where you'd like the frm to be in the next fve years. Te goals that you pick for 2016 should be rea l i s t ic a nd a l ig n w it h you r overall vision for your payroll prac- tice and serve to help you eventually get to the end goal in mind. Create a plan for achieving your goa ls. I f you r pla n is to i nc rea se marketing or grow your staf, outline how you w ill achieve these goals. W hat does increased marketing look l i k e – m o r e p r i n t e d m a t e r i a l s , increased social media usage, etc.? Your plan should also include the process you and your staf will use to monitor your progress. Will you hold a frm-wide campaign to cele- brate the progress of certain goals or will a small team be responsible for quietly measuring metrics? Tis is also a good time to access your tax season needs. If you think you will need more resources or staf to help you achieve your goals and s er ve you r c l ient s du r i n g f i l i n g season, now is the time to plan for the uptick. Determine how you will continue to process payroll for your cl ients a nd help t hem w it h f i l ing notices. Identif y any efciencies in you r c u r rent process a nd w here there is room for improvement and build it into your business goal plan. Assess your current processes and sof t ware. A re there any upgrades t hat need to be made i n order to ensure you hit your goals? Invest in the needed technology now so that you can more efectively achieve the goals you have set in place. Examine the current tasks you carry out for clients and research the available technology to see if there is anything that will make you more efective or provide greater security. Lastly, communicate w ith your frm and clients about your goals. Your staf needs to be onboard for successf ul implementation. Make sure t hey a re able to see how t he goals are best for your payroll prac- tice, especially if they are particu- larly challenging to achieve. Other practitioners may be concerned that they cannot carry out the additional tasks required of them in order to help meet the frm's business goals. You' l l a lso wa nt to reassure your clients that any changes you make in atempts to achieve these goals will not interfere with the quality of service they are currently receiving. Clients may worr y that a focus on growing your business makes them less of a priority. Year-end is flled with forms and d o u b l e - c h e c k i n g i n f o r m a t i o n accuracy, but it can be a great time to put the wheels in motion to start the new year of with a bang. A Year in the Life of a PAYROLL Accountant is sponsored by SurePayroll and ADP The ADP logo and ADP are registered trademarks of ADP, LLC. ADP A more human resource. is a service mark of ADP, LLC. Copyright © 2015 ADP, LLC. Practice made perfect. You want to be more to your clients, and we want to offer you the fexibility you deserve. You can process payroll yourself using our proprietary cloud-based solution, refer clients directly to give your clients access to leading payroll and HR solutions, or even cash out of your existing payroll business to focus on what matters most to your frm. See how ADP ® can provide a more human resource to your frm and your clients: adp.com/cpaprograms. Start Planning for the Year Ahead By Taija Sparkman T he end of the year is a busy season for payroll practitioners. It's flled with lots of year-end tasks and checklists, making sure your clients are prepared for the upcoming tax season. Tis is also why it's a good time to start planning your year ahead. Year-End Payroll Checklist Balance clients' quarterly to annual fgures Check the names, addresses and social security numbers of clients' employees for errors Review fling criteria with clients Compare UI and FUTA wages Provide clients' employees with correct forms Help clients with any notices File any amendments For more resources, visit ADP's Small Business Resource Center and the Payroll blog by SurePayroll. ✓ ✓ ✓ ✓ ✓ ✓ ✓