A Good Tax Workflow Needs Logic

A good tax workflow is easy to define:

  • Collect all the data from your client needed to prepare the tax returns
  • Take the client data along with the appropriate forms and worksheets and route to right team member(s)
  • Prepare the returns
  • Route the returns to the reviewer(s)
  • Review the returns with your client and then file

On paper, it looks very simple. In practice, it never is. There are landmines throughout the process starting with the rolling forward of client data, getting engagement letters out and signed, scheduling and assigning work, approval bottlenecks and much, much more. These landmines eat into the productivity of your people and your profits.

To avoid landmines you need to plan better and apply the right technology to solve the problem.

Plan better! The workflow can’t start without the work – and if all the work comes in at the same time you have an immediate bottleneck.

Be proactive with your clients in your information requests, instructions and scheduling. Anything you are able to front load into the months before the work starts is a big plus.

Utilizing the right Technology. Technology can solve many issues that plague the tax preparation and return process. Most workflow systems are good at preparing checklists and forms – but if the workflow tool doesn’t include business logic, it falls short of what is needed. Business logic drives the process based on the rules you define, eliminating the need for a user to act or make a decision on the next step.

To learn more about the right technology for tax workflow, click here.