6 Essential Accounting Skills

If you are an accountant or want to be one, you will need certain skills to succeed in the workplace. Practicing these skills can help you stay informed, maintain good relationships with coworkers, and demonstrate a strong work ethic. In the accounting field, there are several skills that you should prioritize learning. This article will go over six important accounting skills that will help you succeed in your career.

Key accounting skills that can help you excel in the workplace

Here are six accounting skills that will help in your career:

• Communication
• Organization
• Customer service
• Adaptability
• Leadership
• Time management

1. Communication

As an accountant, you will most likely work with numerous clients and colleagues. Your day might include answering emails and calling customers depending on your position, so you should know how to quickly and concisely relay information. Communicating effectively ensures you have all the appropriate information to complete tasks or deliver projects in line with the recipient’s expectations.

For example, you are reviewing a client’s account and notice that you are missing their quarterly financial report. This data is important for you to complete your work, so you need to send them an email. You want them to understand what you are asking for right away without the need to exchange multiple emails to clarify.

Your email could be as simple as, “I am missing the quarterly report from Jan. 1 to March 31 and need it to complete my work on your account. Could you please send this over at your earliest convenience?” The email specifies the exact dates you need so they can send the right report. 

2. Organization

You may work with a large quantity of financial information daily, and arranging them systemically increases your ability to locate data quickly. Try keeping both your physical and digital files organized to increase your efficiency. It can be helpful to alphabetize client files, or you could use a color-coded system that sorts tasks by upcoming, in progress and completed. Create a folder system on your computer that allows you to locate digital information easily. 

You might have a variety of meetings both in person and on the phone, so you should find a reliable method to keep track of your meetings. A paper calendar on your desk can serve as a visual reminder of upcoming meetings, whereas a digital calendar program could allow you to receive notifications for upcoming meetings. Using a calendar also helps you make sure you have enough time to complete your work. 

3. Customer service

Consider developing your customer service skills to ensure you maintain positive relationships with clients, understand their needs and offer satisfactory responses quickly. When you speak with clients, interact professionally and courteously to demonstrate your sincerity. 

To improve your customer service skills, actively listen to your clients so you can learn more about their concerns or requests. After they finish explaining their request, you can then form a positive, goal-oriented and thorough reply that addresses their needs. Collaborating with clients to form solutions can also help them feel more valued. 

4. Adaptability

Being able to adapt to new software and changing tax laws can make you more efficient in your accounting role. You may also need to quickly respond to requests from clients or other colleagues, and knowing how to alter your workday to accommodate their needs shows your adaptability. Critical thinking is also a part of adaptability. You should be able to gather and evaluate large amounts of data in a short amount of time to meet deadlines. 

For example, two clients request that you call them to answer questions they have on their taxes. Your calendar shows you have appointments all day, so you must decide if their issues are urgent. Based on the first client’s email, you assess that you can likely answer their question over email.

The second client seems to have a more complex question. You decide to move one of your appointments to the next day so you can call them in the afternoon. In this scenario, you adapt your workday to meet your client’s needs.

5. Leadership

Leadership is a vital skill in accounting. When your employer can trust you to plan ahead, think strategically and learn the newest technology, they will consider you a valuable asset to the team. 

Your coworkers may contact you when they need financial advice, so make yourself available to assist other departments when possible. You can show that you are a leader by being direct with your needs, whether it is with a client or coworker. Being confident when offering new ideas or suggestions can also demonstrate your ability to lead. 

For example, you notice that the marketing department regularly exceeds their monthly budget. Your employer might find it helpful if you schedule a meeting with the head of the marketing department and your manager where you explain your findings and offer possible solutions. Taking the initiative to identify a challenge and overcome it can demonstrate your leadership qualities. 

6. Time management

Time management allows you to complete tasks efficiently and on time. It can help to have an efficient system to manage your workload within a designated amount of time. Scheduling your tasks can not only help you stay organized, but it can also show you how much time you spend on a process or step. 

One way to do this is by continually prioritizing your task list by deadline. You can organize your calendar by daily, weekly and monthly tasks. There might be days where some of your assignments take longer than expected, so you can review your list to see what you can move to the next day.

For example, you hoped to have the payroll done for 10 clients by the end of the day, but you encountered several delays. There is only one hour left in your day and you still have three clients left. However, you see that only one of those clients is urgent. You can move the other two clients to your task list for the next morning.