You're overwhelmed with tasks as an accountant. How do you decide which ones to delegate?

1 Task Value

When deciding which tasks to delegate, consider the value they add to your role and the organization. High-value tasks that directly impact financial decision-making or strategy should typically remain with you. These tasks require your specialized knowledge and experience. Conversely, lower-value tasks, such as data entry or reconciling transactions, are ideal for delegation. This allows you to allocate more time to analyzing financial reports, advising on financial strategy, or managing risk—areas where your expertise is most needed.

2 Time Analysis

Analyze how you spend your time to identify tasks that are prime candidates for delegation. If you find yourself spending a disproportionate amount of time on activities that don't require your high level of expertise, such as managing spreadsheets or preparing routine reports, these tasks can often be handled by junior staff or support roles. By freeing up your schedule from these less critical tasks, you can dedicate more time to areas that require your specialized skills, such as financial forecasting or compliance management.

3 Skill Match

It's essential to match the task with the right person's skills and experience level when delegating. Not all tasks are suitable for all members of your team. For instance, you wouldn't delegate complex tax planning to a junior accountant who lacks the necessary experience. Instead, look for team members who have shown competence in similar tasks or express a desire to learn and grow in their role. This not only ensures the task is completed efficiently but also aids in the professional development of your staff.

4 Process Understanding

Before delegating a task, make sure there is a clear understanding of the process involved. This includes the steps required to complete the task, the expected outcome, and the timeline for completion. Providing comprehensive instructions and guidelines can help prevent misunderstandings and errors. It's also important to remain accessible for questions or clarifications. A well-documented process ensures consistency and quality, even when the task is not performed by you.

6 Risk Assessment

Finally, consider the risk involved in delegating each task. Some tasks may have higher stakes than others, such as those dealing with sensitive financial information or regulatory compliance. For these tasks, it's important to delegate to someone you trust and who has a proven track record of handling such responsibilities with discretion and accuracy. Ensuring that there are checks and balances in place, such as dual verification or audit trails, can also mitigate risk when delegating critical accounting functions.