Moving to a new accountant can seem like a daunting task for many business owner, but it is important to make sure that you have the right professional handling your finances. Here are some tips to help you make the transition smoothly.
- Do your research: Before you start looking for a new accountant, it's important to understand your needs and what you're looking for in a professional. Consider things like their qualifications (many accountants in the UK aren’t qualified, if you want to check, search their name on a professional body website such as ACCA), experience, and services offered. Reviews can often look good but ask for testimonials and recommendations from firms clients and business associates.
- Make a list of questions: Once you've narrowed down your list of potential accountants, it's a good idea to make a list of questions to ask them during an initial consultation. Some things to consider include their fees, qualifications, industry knowledge, software expertise, their availability, and their communication style.
- Review your current financial situation: Before you move to a new accountant, it's important to review your current financial situation and make sure that all of your records are up to date. This will make the transition process smoother and ensure that your new accountant has all of the information they need to start working with you.
- Schedule a meeting: Once you've found an accountant that you feel comfortable with, schedule a meeting to discuss your financial situation in detail. During this meeting, make sure to ask any remaining questions you may have, and get a sense of their approach to working with clients.
- Get everything in writing: Once you've agreed to work with a new accountant, make sure to get all of the details in writing. This should include their fees, the services they will be providing, and any deadlines or expectations for communication.
- Provide all necessary information: Gather all necessary information like bank statements, tax returns, invoices and all other financial documents that are relevant and give it to your new accountant, This will help them get a better understanding of your financial situation and develop a plan of action.
- Make the Switch (the easy part): Once you have gathered all the necessary information and provided it to your new accountant, make the switch. As a courtesy let your old accountant know you are switching and the planned dates, and to expect communication from your new accountant. The new accountant will contact your old accountant and let them know the intention to become the new advisor and ask for professional clearance and all necessary documents. The new way of working can begin.
Moving to a new accountant can seem daunting, but with some planning and preparation, the process can be relatively smooth. By taking the time to do your research, ask the right questions, and get everything in writing, you can ensure that you have the right professional handling your finances and you can put your mind at ease.
At Sllick, we highly value the trust and communications we build with clients from the first discovery call, through the compliance and advisory work. If you would like to see if we’re a good match for your business, let’s have a virtual coffee by booking a call.