"The 2021 personal tax season saw the resumption of many pre-pandemic activities, including return-to-office for staff and meeting clients in person. Some accounting firms struggled to adapt internal processes to technology that was quickly adopted to help deal with remote work during the pandemic and to adjust to changing demands of staff and clients," according to a report published by Wolters Kluwer.
This Dutch company, specializing in tax and accounting services, conducted research in 2022 that assessed accounting practitioners' experiences during the 2021 personal tax season. Among its findings, they identified five ways professionals are adapting to the next tax season.
Increase of the Remote-Work Model
Many firms are finding it easier to facilitate a remote-work model, which goes in hand with most Canadian employees looking for flexibility in their jobs.
Boost of Automated Processes
A further reduction in manual data entry has occurred due to the introduction of new technologies. Discover 10 crucial bookkeeping apps accountants should be using to speed up the accounting processes here.
Relying on Outsourcing
Many firms still outsource complex tax issues. If you work in one of the companies taking this route, you should see here what factors are influencing the accounting roles in the future. Upskill in the area your company needs and stay ahead of the curve in 2023.
Automatic Payment Opportunities
There is still opportunity for firms to benefit from automatic payment and digital signature technologies. Learn how AI and Blockchain can improve accounting efficiency here.
Click here to download the full report by Wolters Kluwer.
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