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Time for a New Accountant? 5 Clues

Is your accountant more adept at billing you than managing your finances? Here are five indicators that it might be time to consider a new accountant, along with guidance on how to transition smoothly when you decide to make the move.

Signs it’s time for a new accountant:

  1. Exorbitant Fees

Effective accounting shouldn’t break the bank. If you suspect you’re being overcharged, it’s worth exploring other options. Opt for an accountant who offers diverse packages at fixed monthly rates without long-term commitments. This ensures you only pay for what you need.

  • Extra Charges for Consultation

As a business owner, ensuring you’re tax-compliant and maximizing your deductions is crucial. If your accountant charges extra every time you seek advice, it might be time for a change.

With Count, you receive unlimited accounting support tailored to your business, without any hidden fees.

  • Inconvenient Meetings

Having to physically visit your accountant can be time-consuming and inefficient. An online accountant can be more accessible, allowing you to communicate via email or phone as needed. At Count, our dedicated team is always ready to assist, ensuring you get timely advice without the wait.

  • Overuse of Technical Jargon

While accounting has its own set of terminologies, if your accountant consistently confuses you with jargon, it might be a tactic to keep you in the dark.

We believe in clear communication. Our team is always available to clarify any doubts, and our comprehensive guides can help you understand even the most intricate topics.

  • Outdated Methods

If your accountant still relies on old-fashioned spreadsheets, especially during tax season, it’s a sign they’re not keeping up with the times.

Switch to digital accounting for real-time insights into your finances. With our online platform, you can manage invoices, track expenses, and view your tax obligations effortlessly.

Transitioning to a New Accountant: Initial Steps

Switching accountants can seem daunting, especially when they hold all your financial records. Start by reviewing your current contract to understand any notice periods or associated fees.

Always notify your current accountant of your intention to move. Your new accountant can facilitate the transition by requesting all necessary documents and information.

Understanding the Professional Clearance Letter

This is a formal letter your new accountant sends to your previous one, essentially seeking approval to take you on as a client. It’s also an opportunity to request any pertinent documents. This isn’t something you’ll need to handle personally.

Documents to Obtain from Your Previous Accountant

Your new accountant should request:

  • Comprehensive financial statements, including Year Ends
  • Analyses of assets, debts, and capital movements
  • Details of any financial agreements
  • Bank reconciliations for all accounts
  • Stock summaries
  • Copies of tax computations and submissions
  • Relevant documentation or unresolved matters, including any tax references.

The Advantage of Online Accounting

Online accounting platforms provide transparency and accessibility. With all your financial data available online, transitioning between services becomes significantly more straightforward.

Start with Count today

Signing up for Count is easy. We think once you experience truly stress-free financial processes, you won’t want to go back.