Losing Accountants? Here's How to Help Your Accounting Team

Posted by Ryan Howard on Jan 6, 2023 8:44:11 AM

Losing Accountants - How to Help Your Accounting Team

The Wall Street Journal is reporting that the number of accountants and university students that are studying accounting is falling. The long hours, especially during tax season, are turning off young recruits. Enterprise corporations are offering college credits and higher pay to entice more people into the field. 

Let's evaluate what accountants do at your business and what to do when your accounting team is dwindling.

 

Your Accounting Team's Duties

As your business grows, so do the back-office tasks necessary to keep things running smoothly. Accountants and your accounting team are on staff to assist. In fact, it's a wise decision to work with an accountant from the early phases of the business to help with the business plan, financial projections, investment opportunities, pricing structure, and more.  Accountants also provide advice on the legal or tax structure of your business. 

Other duties of your business accounting staff include:

  • Documenting business procedures such as credit, accounts receivable, and collections policies

  • Determining the effectiveness of collections, credit, and A/R policies

  • Creating, tracking, and receiving payment on invoices

  • Payroll

  • Accounts payable

  • Sales records and other financial reporting

  • Tax Preparation

These duties may be broken down into several different job responsibilities to ensure a consistent and healthy cash flow. In short, your business accountants help save money and bring in funds to keep your company successful. 

Sample A/R Job Descriptions

How to Help a Dwindling Accounting Team

If your business is losing accountants or struggling to hire new accounting staff,  consider that even the largest enterprise companies are encountering the same challenges. When salary increases and college credits aren't an option that's available to your accountants, Enterprise Recovery LLC can help fill the gap. 

Our services include:
  • Commercial Debt Collections - When those follow-up calls aren't happening, our debt collections specialists help get your business paid - or our services are free.

  • B2B Legal Services - Let our general counsel guide any long-term debts that need to be handled through litigation.

The accountants that work for your business are too important to ignore. Supporting your accounting team is a win for your cash flow and a win for a successful company.  Let us know how we can help.

Outsource Accounts Receivable for More Cash

Topics: Accounts Receivable, Hiring a B2B Collections Agency