How Small Businesses Can Beat the Accounting Talent Shortage

The accounting industry has faced a 17% drop in accountants in the U.S. since 2020 ​(Accounting Firm Software). This shortage creates challenges for small business owners who rely on accurate accounting to manage their finances. However, this gap presents opportunities. By delegating certain tasks and investing in QuickBooks training, small businesses can continue to thrive. Let’s explore practical ways to navigate this talent shortage while ensuring your business’s financial health and learn how small businesses can beat the accounting talent shortage.

Why the Accounting Talent Shortage Affects Small Businesses

The shrinking accountant workforce affects businesses of all sizes. As more accountants retire and fewer graduates enter the field, the competition for talent increases. Small businesses, in particular, often face the burden of keeping accurate accounting while managing their daily operations.

However, there are effective solutions. By turning to professional assistance for specific tasks and enhancing your team’s skills with QuickBooks training, your business can stay ahead, even in this tough market.

1. Delegate Bookkeeping to Free Up Time and Ensure Accuracy and Beat the Talent Shortage

One effective solution to the accounting talent shortage is to delegate bookkeeping tasks. Partnering with a firm like Perlinger Consulting allows small businesses to focus on growth while experienced bookkeepers handle essential financial tasks. Here’s why this strategy works:

• Cost-Efficient: Hiring in-house accountants can be costly. Delegating specific tasks reduces overhead while still giving businesses access to accurate accounting services.
• Professional Expertise: Experienced bookkeepers can manage tasks such as accounts payable automation, bank reconciliations, and more, ensuring accuracy and freeing up your time.

Example: Consider a growing retail business that struggled to keep up with payroll and expense tracking. By delegating these tasks, they improved accuracy and saved time, allowing the owner to focus on expanding operations. Many businesses find that working with an expert team makes their financial processes more efficient.

Visit our services page to learn how delegating financial tasks can help your business.

2. Invest in QuickBooks Training to Empower Your Team

In addition to delegating tasks, investing in QuickBooks training for your existing team can bridge the skills gap caused by the talent shortage. Perlinger Consulting’s QuickBooks training is tailored to small businesses and helps employees master essential financial tasks.

• Boost Productivity: When your team knows how to use QuickBooks Online, they can automate repetitive tasks like tracking expenses and managing accounts payable, freeing up time for more strategic activities.
• Customized Training: Our programs are designed to meet the specific needs of your business, from mastering bank reconciliations to using advanced tools like accounts payable software.

Example: Imagine a small service-based business that wanted to take better control of its finances but lacked in-house expertise. After their office manager completed QuickBooks training, the business saw improved accuracy in expense tracking and financial reporting, leading to better decision-making.

For more information on how QuickBooks training can improve your business’s financial efficiency, visit our training programs.

3. Flexible Work Models: A Key Strategy for Attracting Talent

Offering flexible work arrangements can help businesses attract top talent in the current environment. Many companies are adopting remote or hybrid work models, allowing them to expand their hiring pool and improve employee retention.

• Retain Key Employees: Providing flexibility helps reduce burnout and increase job satisfaction, which is critical in a competitive job market.
• Expand Your Talent Pool: Remote work options allow businesses to hire skilled professionals from beyond their immediate location, increasing the chances of finding the right people.

Example: A small office supply company may struggled to find qualified local staff. By offering remote work options, they were able to hire experienced professionals from neighboring cities, boosting both employee satisfaction and client service. Small businesses that offer flexibility can attract a broader range of skilled workers.

4. Leverage Automation to Enhance Efficiency

With fewer accountants available, automation has become a crucial tool for managing financial tasks efficiently. Tools like QuickBooks Online enable businesses to automate processes like accounts payable, invoicing, and expense tracking, improving both accuracy and speed.

• Save Time and Cut Costs: Automation helps reduce manual data entry, allowing your team to focus on higher-level tasks. This not only saves time but also reduces errors.
• Boost Financial Accuracy: Automated processes keep financial data up-to-date and eliminate the chance of human error, ensuring your books are always accurate.

Example: A small marketing agency could use QuickBooks Online to automate invoicing and improve cash flow management. By automating these repetitive tasks, it frees up valuable time, enabling them to focus on client work and grow the business. Many small businesses have experienced similar efficiency gains through automation.

To discover how automation tools can streamline your bookkeeping, read more on our blog here.

5. Delegate Specialized Accounting Tasks

Beyond bookkeeping, small businesses can benefit from delegating specialized accounting tasks such as tax preparation, financial forecasting, and compliance management. This gives businesses access to expert guidance, ensuring they remain compliant with tax laws and other regulations while optimizing their financial strategies.

Example: A small IT company facing challenges with quarterly tax filings and financial forecasts may delegate these tasks to an expert. This reduced their tax liabilities and allowed them to focus on growth. Businesses that work with specialized professionals can avoid costly mistakes and ensure their financial operations are smooth.

Thriving in a Tight Labor Market

The accounting talent shortage is a challenge, but it also presents an opportunity for small businesses to rethink their financial operations. By delegating financial tasks, investing in QuickBooks training, embracing automated accounting, and offering flexible work arrangements, your business can continue to grow and stay competitive.

At Perlinger Consulting, we help small businesses streamline their accounting processes, maintain accurate accounting, and grow confidently. If you’re ready to overcome the talent shortage and improve your financial operations, we’re here to assist.

Contact Glenn Perlinger
📧 glenn@perlingerconsulting.com
📞 (123) 456-7890

Disclaimer: This article is for informational purposes only and should not be considered professional accounting or financial advice. We recommend consulting with a qualified professional for personalized guidance. Perlinger Consulting is not responsible for actions taken based on this information.