Why Should You Switch Accountants?
Posted on 24th May 2022 at 09:45
Switching accountants isn’t something that you do lightly, and it is probably something that you have been thinking about for some time. Often you may have been with your accountant for many years, and you have a sense of loyalty to them even if you don’t feel you are getting the best from them.
Some research by CCH Accounting in 2017 found that 36% of accountancy clients are dissatisfied with the service they are receiving and are looking for another firm, so you are not alone. If your accountant isn’t giving you what you need you should search for one that will.
Some of the main reasons you should switch accountants are:
Not making savings
This is probably one of the biggest issues, that they are not being proactive enough in saving you money on tax. A good accountant will always be looking for ways to save you money as this helps pay their bill and creates their value. You should be meeting with your accountant before the year-end to look for potential savings from a business and personal perspective.
Lack of understanding
Your accountant doesn’t understand your business which means it is unlikely that they will be able to provide you with sound commercial advice on growing your business and increasing your profits.
On the reverse side, you don’t understand them and the figures that they are providing/discussing with you. It is essential that you understand the numbers that unpin your business to make the right decisions. So, you should find an accountant that can provide advice and support in a straightforward and easy to understand way.
They are never available when you need them, or you have to chase them for information when you have a deadline fast approaching. This type of relationship never works and the figures you get can often be too historic to assist your business.
Behind the times
The systems and processes you use with your accountant are dated and are starting to impact your business as you need figures in real-time so you can make decisions quickly. Working with an accountant that uses cloud accounting software like Xero has many benefits including streamlining your processes, aid in working together and increase the visibility of figures in real-time.
They may be diligent in looking over your results, but they aren’t proactive in helping you plan for the future. Most businesses could really benefit from an accountant that can help them forecast and plan for the future so that they can make better informed decisions.
Unexpected tax bill
Your accountant should be close enough to your figures to understand them and be planning ahead for tax so there shouldn’t be any surprises from the ’Tax Man’.
The accountancy fees should be transparent and agreed on in advance so there shouldn’t be any surprises from your accountant either. Some accountants offer monthly account fees to help you to spread the cost and budget for this expenditure.
Worried about switching?
Switching accountants doesn’t have to be a difficult process and if you choose us to act on your behalf then we will take the pain away for you. When you appoint us, we will get permission from you to contact your former accountant and we will send them a professional clearance letter informing them that you are moving to us and requesting all of your records. The only thing that you will need to do is settle any outstanding payments to them.
If you would like to discuss switching to us, contact us on 01937 584188 or request a call back.
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