The process of changing accountants: how to safely switch accounting firms

The relationship between the accountant and the business is one of trust. The accountant not only records the documents and prepares the returns, but also handles financial and tax information that may directly affect the operation of the company. If communication is faltering, reports are regularly delayed, professional support becomes uncertain, or the business has simply outgrown the current service, it is worth considering a change.

Changing accountants can be well planned with proper preparation and does not necessarily involve disruption.

When is it worth changing accountants?

Many people only start thinking about changing when a serious problem has already developed, even though there may be signs earlier that indicate it is worth looking for another accounting firm. These may include difficulty reaching them, regular delays, inaccurate information, or if the company manager does not receive adequate information about the current financial situation of the business.

Another reason for changing may be that the business has developed, its turnover has increased, it employs more employees, or more complex tax and accounting tasks have appeared. In such cases, an accounting firm may be needed that can support the company not only with accounting, but also with payroll, tax, accounting and business consulting.

Changing accountants is also possible during the year

It is a common misconception that accountants can only be changed at the end of the financial year, even though changing accountants is also possible during the year. However, care must be taken to ensure that the handover is organized and that all necessary documents, data, records and information reach the new accountant.

Changing at the end of the year may seem simpler because the new cooperation can begin after a closed period. However, if the current accounting service is no longer suitable, it is not necessarily worth waiting for months. Changing accountants during the year can also be carried out in such a way that compliance with filing and payment deadlines is not put at risk.

The process of changing accountants step by step

The first task is to select the new accounting firm and clarify the terms of cooperation. This can be followed by terminating the current contract, taking into account its provisions and notice period. It is also advisable to precisely determine the date from which the new firm will be responsible for the accounting tasks.

Changing accountants generally consists of the following steps:

• selecting the new accounting firm and agreeing on the scope of tasks;

• checking the current contract and the termination conditions;

• determining the date of the handover;

• handing over the accounting materials, records and documents;

• arranging electronic access rights and authorizations;

• coordinating ongoing returns and deadlines;

• checking the data with the new accountant.

During the handover, not only the current monthly invoices are important: the new accountant may also need previous general ledger extracts, analyses, reports, fixed asset records, contracts and other accounting documents.

Changing accountants can therefore be truly smooth if the new accounting firm reviews the tasks before taking over, agrees on the necessary documents and ensures that no important deadline or financial information is lost during the change.

Our company has several decades of professional experience in carrying out accounting, payroll and consulting tasks. If you are dissatisfied with your current accounting service or need broader professional support, it is worth acting in time. Contact us through our contact details and ask your questions!