FINANCIAL LITERACY • 30 OCTOBER 2024 • 3 MIN READ

How to handle transitioning from your previous accountant

The back of a laptop with icons showing the transfer of files to represent transitioning accountants

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Tips for a smooth accountant transition

FAQs

Ready to make the switch?

Is it such a stretch to expect excellent service from your accountant? We don’t think so!

If you’ve found yourself constantly nudging your accountant for responses, deciphering vague replies, or feeling like your business is just another file on their desk, it could be time to raise the bar. Why?
Because it’s crucial to have an accountant who not only understands your present needs but also strategically prepares for your future. After all, an effective accountant is one who values your time as much as you do, offering swift, clear, consistent support tailored to your business needs.

Tips for a smooth accountant transition

Assess your current situation and identify what’s lacking with your current accountant. Is it about responsiveness, expertise, or something else? We have a blog on 8 signs you should switch your business accountant, you can check your situation against it.
Look for accountants who resonate with your business ethos, and prioritise those with a strong understanding of modern business dynamics.
Set up meetings and don't be shy to reach out to discuss your business needs. It's your chance to lay out exactly what your business requires in terms of accounting services. You can book a meeting with one of our team memebers to discuss how we can work together.
Be specific and candid about your needs, whether it's detailed financial reporting, strategic tax planning, diligent bookkeeping, or expertise in certain industry areas. Inquire about their experience with small businesses and how well they understand the tax nuances in your specific region. For businesses operating in New Zealand, it's crucial to choose an accountant who has a deep understanding of both areas to ensure seamless financial management.
Compare what’s on offer from potential accountants, looking beyond just the fees. Consider the overall value and personalised service you'll receive. In your search, keep an eye out for options like Beany's monthly accountancy package. Our transparent, fixed monthly pricing not only helps you budget effectively but also ensures you stay on top of your administrative needs without any surprises.
Inform your current accountant politely that you’re switching. It's not just courtesy; it's good business karma. If you maintain professionalism and provide adequate notice to ensure a smooth transition, you should avoid any potential friction. And don’t forget to request copies of your financial records, tax returns, and other relevant documents! (Some accountants will handle this process for you so you don't even have to do it yourself).
Work with your new accountant to transfer files and information. Make sure to grant your new accountant access to all the essential documents (e.g., your Xero account), and prioritise the secure handling of sensitive information during this transition.
Settle up with your old accountant and grant them permission to pass on the relevant information to your new accountant.
Establish your communication expectations. Regular chats and updates with your new accountant can do wonders for your business health. For example, we have a team of experts available to answer your questions, without additional costs. If you’re seeking further support or clarity around switching your accountant, please contact our team.

FAQs

Is switching accountants complicated?

Not at all. With the right approach and guidance, it's very straightforward and can be instrumental for improving your business. Learn 8 signs you should switch your business accountant.

Can I switch at any time?

Absolutely. There's no 'wrong' time to make a change that benefits your business.

What if I've prepaid my current accountant?

No worries, you can still make the move. Any prepaid fees can often be adjusted or refunded (depending on work they've completed and their client terms and conditions).

Ready to make the switch?

At Beany, we're 100% committed to your success. Our core package covers your year-end compliance, with one fixed cost split over 12 months. This includes your end-of-year accounts and tax returns, tax minimisation, unlimited support and more. We also have a wide range of other helpful services to help you as you start out or as you grow, such as bookkeeping, GST returns, payroll and more. Book a call for a free chat about your accounting requirements - we'd love to help.