People change accountants for many reasons. Often we hear that they are waiting until the end of the year to do so. Changing accountants doesn’t have to be a cumbersome process and should take place as soon as possible. Here are some tips to keep in mind as you prepare to change accountants:
You Don’t Have To Wait Until The End of the Year
This is a common misconception. Waiting until the end of your fiscal year isn’t necessary, when a firm has a good transition team in place, the sooner you can switch to best meet your business’s needs, the better.
Ensure Your New Firm Has A Transition Team in Place
Don’t be afraid to ask your new firm about their transition process. Ensuring they have a team in place who has performed transitions before is important. A good transition team will be able to get your year to date numbers correct and carry forward. Ask questions about their experience and processes to ensure a smooth transition.
Consider Outsourcing All Accounting & Bookkeeping Services
Taxes are just one piece of the puzzle. Your accounting firm should understand your business and do proper tax planning and put together strategies to maximize your profits. In addition, find an accountant who also offers bookkeeping services to keep everything in one place to minimize challenges and errors.
Look For An Accountant Who Has Similar Clients or Specializes in Your Area
Although years of experience is helpful, specializations are more helpful. If you are a doctor, lawyer or run a professional business, your needs are going to be different from other individuals and businesses. Ask your new firm about their clients and experience with clients similar to yourself.
In all of the above tips, communication and action are the underlying themes. Be sure you have an accountant who is responsive and accessible to be the best partner for you and your business.