Unlocking Growth During Tax Season with ADP
Welcome to article four of our new monthly series that dives deep into the world of accounting and employee retention. This series, sponsored by ADP, explores what is genuinely valuable, practical, and applicable advice to any leader looking to create a workplace where talent flourishes.
Unlocking Growth During Tax Season with ADP
Tax season is often viewed merely as a compliance task—something that needs to be done. However, this busy period holds a wealth of information that can propel your practice forward. As you prepare tax returns, you have a unique opportunity to dive deep into your clients’ financials, uncovering valuable insights that go beyond compliance. This is where the advisory conversation can truly begin.
Accountant ConnectSM offers a suite of tools and resources designed to help accountants work more efficiently and engage with clients proactively. Here’s how you can take advantage of these tools during tax season:
Custom Reporting
With Accountant Connect, pulling reports that highlight workforce trends and payroll data is quick and easy. You also have the ability to create custom reports tailored to meet your clients’ specific needs, whether generated by a specific date or set to recur.
Since payroll often accounts for one of the largest expenses for small businesses, gaining insight into these figures allows for meaningful discussions about managing costs more effectively.
Client Notifications
Accountants receive notifications regarding client operations, such as missed payroll and new jurisdictions. Many clients may not realize the tax implications of hiring employees in different states, which can lead to compliance issues. Staying ahead of this information is crucial to prevent payroll interruptions and help clients navigate complex tax requirements.
Analysis Tools
Accountant Connect provides deeper insights into your clients' employee data, enabling you to spot important trends impacting headcount, earnings and more. You can also compare workforce metrics—like turnover, payroll and overtime costs—across multiple clients.
The platform allows you to view job information by industry, comparing metrics against ADP's benchmarks without needing to select a specific client. This way, you can offer clients accurate insights into real compensation trends—helping them make informed decisions and fine-tune their compensation strategies by contrasting their businesses with similar companies and the broader market.
By comparing a client’s workforce metrics to market standards, accountants can effectively guide clients in making informed decisions about hiring, compensation strategies, and overall workforce management.
Conclusion
This tax season, seize the opportunity to transform and grow your practice. With Accountant Connect, you have the tools at your fingertips to make clients feel valued, supported, and empowered.
How ADP® can help
Accountant Connect is packed with resources designed to elevate the invaluable work you’re already doing and drive success for your firm and your clients. Get started now at adp.com/accountantconnect.