Time-management tactics to try this EOFY

Nothing tests your ability to crunch deadlines quite like the end of financial year (EOFY). The weeks leading up to the last day of June are often ruled by mountains of paperwork and an endless series of tasks. However, employing a few clever strategies can preserve your sanity and help you optimise the hours you spend at your desk – especially if it’s your first as a full-time tax professional. Here are four top time-management tactics to apply this EOFY.

1. Embrace the Pomodoro technique

Conceived in the 1980s by the entrepreneur Francesco Cirillo, the Pomodoro technique is a foolproof trick for enhancing mental clarity and saving time. Using a timer, work solidly on a task for a 25-minute period before rewarding yourself with a five-minute break. Adhering to strict time increments can help you power through your to-do list. It also chases away the urge to procrastinate. And no need to place an egg timer on your desk – there's an app you can download straight to your smartphone.

2. Keep a daily task list

When you’re faced with serious deadlines, it’s important to know what work to tackle first. Whether you prefer to use the to-do list function in Microsoft Outlook or old-fashioned pen and paper, outlining the tasks you need to accomplish each day and ranking them from low priority to high priority is a clever way to take control of your time. Although the power of the to-do list is well documented, it’s equally important to consider the things that can wait until after 30 June. When compiling your daily tasks, strike out the non-essential items and relegate them to a work period that’s lower pressure.

3. Tackle the most challenging task first

When you’re faced with a daunting project complete with administrative hurdles, it’s tempting to put it off. But if you start your day by addressing the most difficult task on your agenda before moving on to less pressing things, you’ll stand a higher chance of managing your time and energy effectively.

4. Batch-process tasks

Multitasking might be a modern phenomenon, but you’ll be far more efficient if you focus on one thing at a time. Whether it’s responding to an overflowing inbox or reconciling urgent accounts, blocking out time to batch-process your duties is a powerful tactic for bolstering productivity and conserving your hours.
From working within short increments to completing your most difficult task first, mastering the art of time management can make for a smooth lead-up towards EOFY. What’s your favourite time-management trick?


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Client liaison: Dealing with your first EOFY

There’s only one date on the tax calendar that has the potential to frighten even the most seasoned tax professional: 30 June.

One of the biggest pressure points during these closing months is dealing with clients who are also feeling the pinch. Navigating this initiation into end of financial year (EOFY) can often become equally about client management as it is about the steep increase in your workload.

Here are our tips to help you handle difficult client relationships and come out ahead this EOFY.

Protect yourself from risk

While never a pleasant realisation, in the tax accountancy industry there’s always the potential threat of litigation. Complaints most commonly registered about tax advisors include those who do not lodge documentation in a timely manner or do not process and forward refunds to their clients promptly.

Of course, you can protect yourself by asking your clients a number of questions rather than simply relying on the documentation and information they provide. Ensure you have an open channel of communication with your clients – that way, should there be any delays processing their documentation you have an opportunity to provide a solution on how the situation could be rectified.

Be prepared and take the initiative

Tax mistakes are more likely to arise if your clients have not been in regular contact throughout the financial year. Whether this includes something as minor as miscoding bank transactions or more significant still, such as not keeping tax records up to date, errors in documentation can soon become time-consuming tasks to amend. Many firms now encourage their tax specialists to send reminders to their existing clients about the approaching EOFY. By prompting their hand, you’ll have an opportunity to better plan your schedule as well as make requests for additional information or timely fixes.

Be specific, not agreeable

When dealing with clients, they may be prone to unloading their undue stress on to you. In this case, while it may be tempting to offer advice, it is not wise to agree with them or communicate with them in vague terms that they can misconstrue. Offer your clients specific timelines for documentation processing and continue to ask them measurable phrases such as: “If this is completed, does it fix your issue?”

EOFY doesn't have to be a daunting time. By staying on top of your clients’ demands, you can sail through the period and grow as a tax professional.


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If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.