Accounting Busy Season Guide to Balancing Time & Work

Ah, busy season in accounting. It’s the time of year when your calendar is as packed as a suitcase before a 2-week vacation.

Your inbox feels like an expense report with all the receipts: it’s overflowing, never-ending, and somehow always missing that one thing you actually need.

And your free time?

What free time?! There is none!

Your to-do list keeps multiplying just like the receipts, and your work days are getting longer. You are surviving the best you can, running on coffee and determination.

But the thing is, you shouldn’t just be surviving—you should be strategizing.

No matter if you work on a fixed schedule (being a public or private accountant) or an independent accountant with more control over your work hours, we’re here to help you balance more than just books. With the right tips, tricks, and tools, you will be able to finish the busy season without losing your mind…or weekends.

In this blog post, we’ll explain what accounting busy season is and when it occurs, and we’ll provide you with tips and tricks to prevent burnout during this time.

Sounds good?

Let’s roll, then.

What is the accounting busy season?

Well, as you probably know, the busy season refers to the busiest time of the year for accountants, when they face multiple deadlines at once, depending on the accounting field they are in.

During this period, accountants put in extra work hours to meet those deadlines. And it can get tough.

Here are the most common client activities during the busy season:

• Tax deadlines. In the US, April marks the filing deadline for individual and business tax returns. For accountants, this means extensive paperwork, return preparation, and meeting strict deadlines.
• Audit deadlines. Since the fiscal year typically ends on December 31st, January is a busy month for accountants. They must finalize books, create financial statements, and conduct audits.
• Internal and external reports. Accountants in private companies prepare reports for internal stakeholders, such as board members or management. Those in public companies must also deliver quarterly reports to meet regulatory requirements.
• Financial planning and forecasting. Many businesses use the busy season to assess their financial health and plan budgets, cash flow projections, and strategic goals for the upcoming year.
• Client advisory services. Accountants often provide consulting services during this time, including tax-saving strategies, investment planning, and risk management.
• Regulatory compliance & updates. Changes in tax laws or accounting standards requires accounting firms to adjust their processes, educate clients, and ensure compliance with new regulations.
• Frequent client communication. Accountants frequently chat and discuss with clients, addressing questions, giving guidance, and ensuring accurate financial reporting.

How busy can the season get?

According to The Effect of the Busy Season Workload on Public Accountants’ Job Burnout study, pretty busy.

In this study, the researchers examined how increased workloads during the busy season can impact job burnout among public accountants. They measured hours worked, role stressors, and job burnout (in public accountants working for a national firm), before and after the busy season. 

Here are their key findings:

• Accountants worked an average of 49 hours per week before the busy season. This workload did not directly affect their burnout, suggesting that accountants can handle a substantial workload before showing signs of burnout (kudos to you!).
• During the busy season, average weekly hours increased to 63. This increase in work hours led to higher job burnout levels.

This study proved that the busy accounting season is no joke.

Long hours stretch into late nights, coffee replaces sleep, and the workload feels like a marathon with no finish line. It can all inevitably lead to burnout, which is why accountants need strategies to manage workload and avoid burnout during these peak periods.

When is the busy season for accountants?

All accountants go through their busy seasons, no matter the field. They all need to ensure clients’ accounts are accurate and ready before the deadlines. That’s why the busy season in accounting depends on location and accounting specialization.

Tax accountants have a peak workload from January to April each year, considering the fiscal year ends on December 31st. That’s the period when individual tax returns and business returns are due. During those times, tax accountants consult with clients, gather documents, prepare and file tax returns, and handle IRS inquiries.

For public accountants, the busy season is between February and March. During that period, they are required to meet quarterly reporting deadlines for private and public companies; they often do year-end audits and reviews, internal control testing, prepare financial statements, and communicate with stakeholders.

For management accountants, the busiest season is between December and February, as they are required to do budgeting and forecasting for the upcoming fiscal year. They need to analyze current financial data, prepare budgets and forecasts, and do cost accounting.

How to survive the accounting busy season: the guide

Navigating (dare I say surviving?) the accounting busy season requires strategic planning and self-care. Here’s a list of tips that can help you and other accountants get through the demanding period much easier:

1. You need to set clear expectations.
2. You need to learn to plan capacity and prioritize tasks.
3. You should use technology and automation to increase efficiency.
4. You must maintain a healthy lifestyle and know when to take breaks.
5. You need to plan a post-busy season period so you can properly rest and recharge.

Now, let’s go through each of these tips.

#1 Setting clear client expectations

One of the biggest challenges during the busy accounting season is managing client needs and demands while also juggling strict deadlines.

Setting clear expectations from the start can help you reduce stress and improve overall efficiency. Here’s how you can do it effectively and assertively:

1. Set deadlines early and communicate them to clients. Consider sending out a schedule of deadlines in advance, outlining when clients must submit documents. Then, ensure clients receive those deadlines; you can always reach out to them using multiple communication channels, like emails and phone calls.
2. Define what your clients are required to provide. Give clients a detailed checklist of documents, forms, and reports they must provide. Also, be sure to offer examples or templates (specify the format!) to help them provide you with accurate and complete information.
3. Send out automated emails as reminders. These emails should remind your clients to send the required documents and submissions. You can also consider scheduling quick check-ins with clients to ensure they’re on track.
4. Address questions and concerns in advance. Create a pre-busy season file with questions and answers that can help clarify common issues regarding tax deductions, financial statements, or regulatory changes.
5. Learn how to set boundaries to manage workload. It’s your job to enforce deadlines and ensure your clients know late submissions can disrupt your workflow.

By setting clear expectations and being proactive in communication, you can improve workflow, and create a less stressful busy season.

#2 Planning capacity and prioritizing tasks

During the busy season, you simply can’t survive without a clear plan. That’s why assessing your workload realistically and learning how to prioritize tasks is the only way you won’t feel like you are losing your mind.

Here’s a crash course on how to plan your capacity and prioritize tasks:

1. Evaluate your available time and resources realistically. Before you start working, be realistic about your time so you avoid overcommitting. I highly recommend you start using a time tracking tool (the sooner, the better!) so you can analyze past busy seasons to estimate how long different tasks take.
2. Be honest about your limits and acknowledge that you can’t do it all. Accept that particular tasks require delegation or automation so you don’t burn out.
3. Use the Eisenhower matrix for prioritization. In this step, you categorize and rank tasks based on urgency and complexity. You should break tasks into 4 categories:
   • Urgent and important. Think of high-priority tax filings, approaching deadlines, and compliance reports; you need to do these first.‍
   • Important but not urgent. Tasks like reviewing work papers and client advisory services should be scheduled. These tasks require your undivided time and attention and should not be interrupted by deadlines.‍
   • Urgent but not important. Tasks like routine emails and non-critical meetings should be delegated, if possible.‍
   • Not urgent or important. These tasks are unnecessary admin work; you should try eliminating or minimizing them.‍
4. Use the 80/20 rule. The so-called Pareto principle can help you identify the most impactful work (like high-value clients and essential filings) so you can focus all your energy there.‍
5. Be realistic about your goals. When setting goals, try using the SMART framework to ensure they are Specific, Measurable, Achievable, Relevant, and Timely. Breaking down large projects into smaller, manageable ones makes goals more attainable and progress easier to track. So, instead of setting your goal to “finish all tax returns this week”, try saying, “I’ll complete 3 tax returns per day”.‍
6. Schedule focus sessions. Instead of multitasking, you can use the time blocking (or time chunking) technique to maximize your focus. The method is pretty simple: you dedicate specific time slots to different types of work. For example, your mornings can be dedicated to high-concentration tasks like financial reviews and afternoons for client communication and less mentally demanding work.‍
7. At last, learn to say “no”. Simply put: you should know how to push back against unrealistic client demands.

#3 Using technology to increase efficiency

During your busy season, you need every advantage and tool that can help you stay on track and productive.

If we’re talking about efficiency increase and automation, I have to mention Memtime.

Memtime is the solution for automatic time tracking because it eliminates the need for manual time logs and entries, all to ensure your EVERY billable minute is accurately recorded. 

Unlike traditional timers, Memtime runs in the background, capturing time spent on different documents, apps, programs, and browsers without disrupting your workflow. It’s the perfect time tracking app for accountants!

With its passive time tracking, you log your time in all programs in an automatic timeline and actually see where your time went. All you need to do is turn on your computer and start working on tasks and projects.

Here are some Memtime features worth noting:

• It’s a desktop application for Windows, macOS, and Linux.
• All your computer activity is captured and displayed in 1-60 minute intervals so you can visualize how your day unfolds.
• Memtime can also capture every minute of your phone calls made with specific VoIP services or on your iPhone and display them in a chronological timeline.
• You can turn captured activities into time entries and connect them to accounting software (more than one) to sync tasks and projects (here’s a list of tools Memtime integrates with).
• Your data is visible ONLY TO YOU and stored offline on your computer.

So, whatcha say?

If you need precise tracking and almost effortless time management, give Memtime a chance. It will improve your billing accuracy, helping you deliver high-value services to clients. It can truly be your go-to tool for maximizing efficiency during peak periods.

Try Memtime for yourself for 2 weeks; it’s on us. All you need to do is create a Memtime account (it takes less than 10 seconds to do!) so you can download and install the app. No credit card info needed.

#4 Maintaining a healthy lifestyle

Tax season or year-end closing are overwhelming, to say the least.

That’s why you need to maintain your well-being to be able to keep up with all the clients, tasks, and deadlines. A healthy body and mind help you stay sharp and productive.

Here’s what we at Memtime recommend you do:

• Stay active. If you don’t move, it will take a toll on your body and energy levels, so try to stretch every hour to release tension or switch to a standing desk while working.
• Don’t skip meals. Skipping meals or eating only junk food will crash your energy. So, try incorporating foods that can sustain energy and don’t require preparation, like nuts, yogurt, and fruits.
• Stay hydrated. Please keep in mind the findings from this study: a dehydration level of 1.36% of body mass leads to significant effects on mood and increased fatigue. When you’re dehydrated, you have difficulty performing tasks, as your concentration is reduced and there are more frequent headaches. Optimal hydration is key.
• Get enough sleep. Lack of sleep decreases focus and accuracy, so be sure to have a consistent bedtime, and use short power naps (no more than 10-20 minutes) to recharge.

Even in the busiest season, you must prioritize your health. Doing so will help you perform at your best and avoid burnout.

#5 Planning a post-busy season period

After weeks of long hours, super-tight deadlines, and intense focus, you deserve a post-busy season recovery period.

Without proper rest, the feeling of constant fatigue can carry over into the rest of the year, impacting your productivity and causing burnout. You need to take the time to rest and recharge.

Here’s how you should approach this topic:

1. Schedule time off in advance. Plan your breaks before the busy season starts, so you’re not scrambling at the last minute. You can go on a full vacation, or take just a few personal days, but having planned downtime will help you push through the peak season, knowing the relief is coming.
2. Rest. Rest. Rest. Busy season = late nights and early mornings. Once it’s over, it’s time to reset your sleep schedule by getting 7-9 hours of quality sleep PER NIGHT.
3. Rebuild your healthy habits. Long hours at the desk can take a toll on your body, so post-busy season is a great time to rebuild healthy habits like returning to your regular exercise routine and prioritizing healthy, nourishing meals.
4. Spend time with family and friends. Tax season often means having no social time. Now’s the chance to reconnect with your loved ones and express gratitude to those who supported you through the busy season.‍
5. Reflect so you can improve for next year. Once you return to the office, take some time to evaluate what worked and what didn’t during the busy season, focusing on what the most stressful periods were. Think of processes or strategies that could be improved to make those periods more manageable.

Planning a post-busy season period is a must. When you are well-rested, you are more productive, and prepared for the challenges ahead. You will return to work refreshed, energized, and ready to deal with even the most demanding clients.

Wrapping up

Busy season in accounting is anything but a piece of cake, and you know it.

It’s demanding and exhausting but with the right strategies, you don’t just have to survive it; you can manage it effectively without sacrificing your well-being.

Be sure to:

These steps will ensure that the high-pressure period doesn’t ruin your confidence, competence, and health. 

And don’t forget to plan for a well-deserved recovery/vacation afterward. 🌴

Implement these strategies now, and you’ll get through the busy season and come out stronger on the other side. 💪