Avoid expensive tax mistakes with software training this season.

TLDR

• Tax season can be stressful for corporate tax and accounting professionals.
• High stress levels and long hours can lead to costly mistakes during tax filing season.

Most Americans find gathering paperwork, documents, and information to complete their individual tax returns very stressful. Imagine having to do that for a midsized or large business. Tax filing season can be an extremely trying time for corporate tax and accounting professionals as they have to navigate countless forms and compile extensive amounts of information without errors. The looming threat of an audit can ratchet up the stress of tax season even more.

High stress levels and long hours can combine to create an environment that’s ripe for mistakes. Accountants are often interacting with required software that they may only touch once a year, which increases the risk of gaffes. The financial consequences of mistakes can be serious, with even a simple slip of a finger throwing off an entire bookkeeping process. Manual data entry errors are common in accounting departments, with an estimated 27% of accounting errors resulting from incorrect tax data entry.

Traditional “one and done” software training is insufficient, as people tend to forget what they have learned after a short period. The best way to prevent errors during tax season is to change the approach to software training. Real-time, interactive training featuring timely content delivery can reduce cognitive load and increase engagement. In-app content delivery can help identify and address areas where accountants are struggling, ultimately preventing mistakes before they happen.

Changing the training approach can also lead to the retention of valuable accounting talent, who are often subject to burnout, particularly during tax season. Supporting accountants with on-the-job, real-time learning and development can ensure accurate tax documentation and reduce errors, lost revenue, and churn during tax season. By equipping accountants to excel in their roles, organizations can demonstrate their commitment to professional development and success, ultimately leading to happier and more content employees.