As an accountant, sometimes it may seem you spend approximately 10 percent of your time preparing taxes and the remaining 90 organizing receipts, invoices and paperwork that your clients hand to you in a disorganized pile. If you service clients in the real estate industry, you may spend even more time sorting through stacks of shoeboxes to organize and categorize records of the many tax-deductible purchases your clients make throughout the year.
With the majority of their time spent on the road traveling to open houses, client meetings and print shops, real estate professionals tend to make more tax-deductible purchases than those in other industries, which means they can be among the most time-consuming accounts you serve.
Not only is it tedious, but the time you spend organizing receipts can also be a drain on your accounting practice’s revenue. Instead of taking on more clients with your high-value skills in tax preparation, you may be forced to push receipts for open house signs around your desk.
If you’re dreading another tax season spent organizing disheveled paperwork on behalf of your real estate clients, now may be a good time to consider recommending they start using cloud-based accounting software. This can help you cut down on the hours you spend preparing your real estate clients for tax season in these three ways:
- Enable Your Clients to Record and Share Expenses Immediately
Some cloud-based accounting software applications allow your clients to snap a photo of a receipt as soon as they leave the printer shop with a stack of flyers, which means you don’t have to wait until the end of the month or quarter to learn about that expense.
About Kevin Miller
Kevin Miller joined the Neat Company in April, 2017. He currently serves as the Chief Marketing Officer overseeing all of Neat's brand, marketing and revenue operations. Prior to joining Neat, Kevin was a co-founder and CMO at Salesfusion, a SaaS marketing automation solution for Mid Market companies.