Video instructions and help with filling out and completing Which 1041 Schedule I 2019

Instructions and Help about Which 1041 Schedule I 2019

Hi David crystal here from jetpack workflow and growing your firm podcast I wanted to walk through a 1041 tax return workflow diagram now of course if you are watching this anywhere but the blog you can always go to jetpack workflow comm slash blog for free articles for trainings more free videos and so much more so let's dive into the 1041 tax return workflow diagram now we'd like to separate these into three different buckets we like to put receive and confirm process and fulfill and then file and follow up now before we dive into these buckets you know what is the point of creating a workflow diagram why do we do this in the first place well we want to have complete transparency and we want to have a 360 view of how things are moving through our firm or practice and by setting up and designing or even just brainstorming a workflow diagram you're able to see where all of the moving pieces are and we're importantly able to identify bottlenecks in your system you're able to see where things are not clear where expectations aren't yet met perhaps you know client expectations or client understanding is falling through the cracks and so it's really great to set up a bird's-eye view of your workflow because you can optimize around these things you can see the bottlenecks and you can improve upon them you can see where clients are getting frustrated and improve your process you can see where there's you know your team members are taking a lot of time in a certain step and you can look through that checklist through that process sheet so with that in mind let's dive into the first bucket around receiving and and confirming the information that you received now we all know that to begin client work we need to actually get the client information so you know part one is all about that interaction and that engagement you know those email templates those checklists you hand off the clients those portals that your hand off the clients those email reminders that you hand off to clients there's many systems that could be put in place here but the point is you know do you have a system and how is it working we can define it here in the workflow now you can see this is a very basic client request receive confirm info missing client requests scan now what you can do is take a very simple workflow diagram like this and you can see where the bottleneck is occurring you know maybe we could send more client requests because we're not receiving them on time maybe we receive them but it takes a really long time to confirm and then by the time we get back to the client they've already moved on to the next item this is out of sight out of mind so we have to reel them back in to give us more information perhaps the scanning stage is not fluent you know and you can look at every step and of course you can add more you can remove some but the point is you know through each step of your workflow what can be optimized what can be improved perhaps when you receive that client request you typically have a kickoff meeting right and and what are some things you can do during that kickoff meeting to better set expectations to better communicate the value that that they'll be receiving to better communicate the timeline in which this will be completed if you receive documentation by a certain date you know so much with workflow and this in this first step is just the cadence that you bring to working with your client and the clear expectations you set for them and you know we've had interviews on growing your firm podcast we talked with people like ed class or Ron Baker and many more where they'll talk about varies pricing structures based on when you receive client information so there's a real incentive for that client to submit them on time so that's certainly one option and again the goal right now is to just set up your workflow you can so you can see all the moving pieces the next step would be process and fulfill you know we have the information we're ready to begin working a B it's passed along to and you know another team member in this regard you know and so we go into the Rubies stage and we see that perhaps one of the biggest bottlenecks is infos missing it's the message client then it goes back in the process you know maybe a client worked with one individual in this stage now they work with the second individual they don't know the second individual they never talked this individual maybe they're a little bit frustrated with the process maybe they're confused about what they actually need to submit and again by laying out a workflow you're able to identify this and then start brainstorming ways to implement or improve a more robust workflow and you know we mentioned this in the blog post with this video but it's it's really important to include your team in these discussions now if you're a sole proprietor you know of course that's fine maybe your team is you and a spouse or you and a colleague that's fine if you do have a you know team members on board bring them into the the office bring them into the conference room where you're working on this and brainstorm ideas if they're on the front lines if they're working with clients every single day ask them what can be improved then maybe have ideas for improvement you know especially with younger generations they want to be involved in this process they want to contribute they want to add ideas and this