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Why change accountants?

Date: Nov 26, 2021

Why change accountants?

Are you happy?!

This is the most important question to ask yourself. Are you happy with the service being provided by your Accountant?

Do they communicate to you in the way that works for you and is there regular communication?

Do they really understand your business?

Do you feel that you can just give them a call and ask them a question about your business, not just your finances?

Are they your sounding board, support team and confidante?

If the answer to any of these is No, then you could be working with the wrong Accountant.

I’m not saying that your current Accountant is bad just that they are the wrong fit for your business.

As your business grows, develops and changes so does the support that you need from those around you.

Sometimes you don’t know what you could be doing or should be doing with your business and its finances as you’re not getting the support you need. Your accountant may have reached the limit of their expertise and experience, and that’s okay, but it does mean that you must proactively look to change Accountants.

It can feel like a big deal choosing a new accountant. You’ve had some experience working with an Accountant but how do you know what is missing and what you need from your new Accountant?

Talk to people. Your business contacts, your friends and family. Who do they recommend? How does their working relationship with their accountant differ to your current one? Does that fit with what your business needs?

Just because someone has a great relationship with their accountant doesn’t mean it’s automatically the right accountant for your business, but it will give you an idea of what you may be missing.

In a recent survey, we asked a question about communication. A staggering 83% of our respondents said they didn’t have good communications with their accountant.

This is the MOST IMPORTANT area that must be in place for you and your accountant to be able to work proactively together.

There is quite an odd sense of loyalty to stay with an Accountant even if the service is bad or the wrong fit for your business now it has changed. I’m not sure why this is, because outside of the business you just wouldn’t do this normally.

We often find that people are nervous of switching accountants because:

  • They feel loyal having been with their accountant for years
  • They don’t want to tell their accountant as they feel embarrassed about saying they want to change accountants because they don’t want to offend anyone
  • They think the process is going to be difficult
  • They don’t know that it’s the right move and that this new Accountant is the right one

To allay your worries or fears, I can put my hand on my heart and tell you it is all very straightforward.

Loyalty

I understand that, and it’s great that people show loyalty to others. However, you’re paying for a service and if you’re not getting what you need from it, that’s an issue that needs resolving. If there’s a mutual respect, then your accountant will understand your desire to switch.

Telling your accountant

A reluctance to give the news that you’re not happy and want to switch is understandably an uncomfortable thing to do. But it’s got to be right for you and you deserve to work with someone that you feel comfortable with.

Difficult process

Nope!

All you need to do is notify your previous accountant that you’re leaving them to move to someone else, then pass on their details to your new Accountant and they take it from there. There may be some things that your new accountant needs from you but if they are the right accountant they will hand-hold you through this process so that it feels easy.

Is it the right move?

Yep! At Troy Accounting, you can rest assured that building a relationship with you is the most important thing to us. We will be with you every step of the way of your business journey, and you can ask us questions when you need to ask them. We believe our relationship with you should be open, honest, comfortable and trusting.

The finances of a business are one of the most important and personal things to talk about, so you need to be with an accountant that you feel comfortable doing that with. You should be receiving a service that meets your expectations and needs for your growing business. You should be with someone you trust. Someone that can help you.

If any of those things are not what you’re currently receiving, then it’s time to change accountants.