Covid-19 or coronavirus is a global pandemic and no one is certain how long it will last. Not only has coronavirus impacted people physically but also financially as people have become jobless, homeless, due to worldwide lockdown. And it also has impacted businesses negatively. If we look at the accounting firms, they’re also facing on going crisis of covid-19 pandemic on their business.

accounting firms

Well, it is a big challenge for accounting firms to work remotely while keeping an eye on their employees during the time of crises. But how firms are managing coronavirus impact, this is the question.

In this article, we’ll walk you through some points through which you’ll understand how accounting firms manage coronavirus impact.

Let’s get started

Here are some ways accounting firms following to manage coronavirus impact

Make sure to read every point given below thoroughly and follow them in your business. So, let’s have a look at them below:

» Moving data to cloud-based system

Now that every firm is working remotely it is important to adopt some online tools and software to manage everything online. Online software such as QuickBooks Online, Quicken, Sage, etc. is sufficient in managing clients’ data and accounting books. Moreover, by working with this software, you can access documents from anywhere with internet access and keep your data backup anytime you make changes. To backup data, just download it to one of your storage like Google Drive, OneDrive, etc.

» Download video conferencing software

Do you want to hold a meeting with your employees? Do you want to have face-to-face meet-ups? Don’t forget that video conferencing is the way to interact with employees during online work. For that Google Meet, Zoom, Skype and many other software are used by accounting firms. With this software, you can get your team on the board and you can help people maintain focus.

Tips to go online: mute yourself until you have something to say. It actually helps cut your background noise and make conversation noise free.

» Preparation of tax clients for virtual interactions

Tax is one of the scariest parts of any business. Mostly people face difficulty in tax preparation, right. And during these unprecedented times, it has become more difficult for people to manage their tax filing. Therefore, to help clients come out of this situation, accounting firms have started doing virtual interactions with their clients. Just make it person-to-person interaction to receive and give digital documents and help clients filing tax. Moreover, working from virtual copies of receipts, statements, invoices, and reports will further save the spread of the virus.

» Sending clients update

It is a time of uncertain crisis and it’s difficult for any firm to update their client physically. Therefore, with the latest technology it has become much easier for them to update their clients via email explaining your firm’s future plan for handling the coronavirus situation and what they can expect more from them. Another good option to update audience is through social media. You can type your message, talk about the ongoing time, your position, and update your clients about everything. Social media will become a good online tool for you to interact with your clients and fulfill their requirements there.

» Setting up a virtual mailbox

Another method accounting firms can follow to manage coronavirus impact is by setting up a virtual mailbox for document storage. Moreover, a virtual mail box will help firms save sensitive data of clients and keep it safe from spammers and hackers. If you’re working remotely just make sure to sign up for a virtual mailbox and start using it. This way you’ll be able to mail your clients and employees about the work and anything important about the business.

Summing up

Coronavirus is an eclipse for every person living on earth. No matter how big or small your business is, this pandemic has negatively impacted everything across the world. Every marketer and business is coping up with the disease and seeking out ways to work effectively and efficiently. In this article, you have read how as an account ting firm you can mitigate the impact of covid-19 on your business. Make sure to follow all the tips given in this article and effectively do your work during these unprecedented times as well.

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