Is changing accounting companies difficult?

Many entrepreneurs believe that changing accounting companies is difficult and delay the process unnecessarily for this reason. Many feel that shifting trust from their current bookkeeper to a new one is scary and for many the thought of changing accounting companies feels like a huge task that they don’t particularly have time for. Making the decision to change accounting companies is the first step.

While searching for a new accounting company we recommend that you pay attention to how they serve their customers. Price is an important factor in making a decision, but it shouldn’t be the main deciding factor as the cheap alternative might not be the best one. The most important deciding factor should be that the new accounting company provides professional service. Make sure that the accounting company serves its customers on a personal level as well. We recommend that you ask for recommendations from other entrepreneurs as that is an excellent way to gain information about good accounting companies. The best way to find yourself the best option is to arrange for a meeting with a bookkeeper from the companies you have shortlisted.

From an accounting company’s perspective, changing accounting companies is not difficult at all. Once the final decision has been made, the next decision is to decide when the change should be made: During the financial year or at the end of it. However, timing does not really matter to either accounting company, although many feel it’s best to change at the end of the financial year. It also has to be decided who will handle all declaration obligation and until when, and at what point the power of attorney (Katso) will be shifted to the new accounting company. How bookkeeping material will be submitted every month is up to the customer and the new accounting company to decide together. Most accounting companies will offer several alternatives for submitting material. In some cases it’s possible to share previous bookkeeping material electronically from the old accounting company’s software to that of the new accounting company.

It’s important to establish game rules with the new accounting company from the start. It’s advisable to sign a service agreement and to go through it carefully. It’s crucial to agree upon timetables for the submission of bookkeeping and payroll materials. When electronic accounting is in question, the customer and the new accounting company need to establish who will do and what; what remains the responsibility of the customer and what the accounting company is to do.

If you are pondering upon changing accounting companies, we’ll be happy to help!