Embarking on the journey of changing accountants can seem like a daunting task for many businesses. However, the reality is that the process is much more straightforward than commonly perceived.

In this blog, we'll explore why firstly, changing accountants is simpler than people think and secondly, why it might be a beneficial step for your business.

So, let’s begin!

Believe it or not, for you, changing accountants only entails the below three steps:

1. Notify your current accountant of your desire to leave

All it takes is one simple email or phone call. Easy, right?

2. Settle any debts!

At the point of notifying your accountant, it is advised that you settle any outstanding debts with them. This helps in making the process quicker.

3. Sign your new engagement letter!

Upon addressing the above two points, your new accountant can then obtain professional clearance from your current accountant, in which they will obtain all tax codes, log-in credentials and necessary books and records. Once this has been received, all you need to do is sign a new engagement letter that states the scope of the works to be completed.

I know, you’re thinking this sounds too easy. But guess what? It really is that simple!

Now, let's look at the benefits you can expect from changing accountant:

1. Quicker responses to queries

Fed up with contacting your accountant through emails and receiving a delayed response? Some practices now engage in client communications through WhatsApp, therefore enabling you to get answers to your accounting and tax questions in real time.

2. Tech-savvy solutions

Your current accountant may maintain books and records in paper format or on Excel. In the digital age, many accounting processes have now become streamlined and automated. Cloud-based accounting software allows for easy access to financial data, making it simpler to transfer information between accountants.

3. Better alignment with your business goals

Businesses evolve, and so do their financial needs. Changing accountants provides an opportunity to align your financial management with the current goals and direction of your business. The new accountant can offer fresh perspectives and insights tailored to your evolving needs.

Conclusion

Changing accountants is a manageable process that, when approached with transparency and communication, can be a smooth transition. By understanding that the transfer of financial records is a routine part of the profession, businesses can confidently make the switch to an accountant better suited to their current and future financial requirements. Ultimately, the goal is to enhance your financial management and position your business for continued success.

If you’re not put off with changing accountants after reading the above, do get in touch with us through the link below to find out the next steps in unlocking your financial freedom.