Five signs it’s time to switch accountants
How to tell it’s time to switch accountant
The thought of switching accountants can be seen as ‘scary’. Despite making tough business decisions every day, many entrepreneurs and SME owners shy away from switching accountants even if deep down they know they should. There are also many who miss the obvious signs and have no idea that they really should be switching accountants.
That’s why we’ve put together five of our top reasons to switch accountants. If you’re already feeling a bit unsure about your current firm, then this list might finally give you the motivation you need to make the change.
1. If you think you’re paying over the odds for your accounts and tax services
The right accountant will give you good value for your money and not leave you feeling out of pocket. If you’re finding that your return on investment just isn’t tallying up with the money you are paying your existing accountant, it’s time to reconsider their position within your business.
2. Your business has outgrown their skill set
Your existing accountant doesn’t have to be making mistakes or causing HMRC to raise a critical eyebrow for you to consider moving on – perhaps your business has just experienced rapid growth which their skill set can no longer cater for. It’s perfectly acceptable to end your contract amicably and employ the skills of someone with more extensive experience.
3. Do they understand the needs of your business?
Your accountant should take the time to understand what your business is all about and find out what makes your business ‘tick’. Without understanding your needs there’s a chance they won’t be effective at identifying opportunities for you. You want to work with people who believe in your dream as much as your bottom line.
4. You find yourself regularly correcting mistakes
If you’re aware that mistakes are being made with your accounts & taxes and you find yourself correcting them regularly, it’s a sign that you’re not working with the right accountant.
The nature of accountancy means precision is a requirement so you can’t afford to leave your books with somebody who isn’t meticulous or thorough enough. Nor can you afford to waste valuable time and energy doing the work you’re paying somebody else to do.
5. Have you been with your accountant too long?
This goes for both you and your accountant. If you’ve been with your accountant for a while it’s good to review the situation and make sure it’s still a good fit for you.
Are they being proactive with their services?
Are they doing more than just helping with your accounts?
Are they providing you with sales and marketing advice to grow your business?
If they are not going the extra mile for you it could be time for a change.
If you’re sure that your accountants are doing everything they should be doing, then what about everything they could be doing? Accounting firms can offer a lot more than audits and tax. In fact, there’s a lot of additional services and personal touches they could be providing to give you the best value for your money. If you feel like you’re only receiving the bare minimum, don’t be afraid to ask your accountants to go the extra mile. If they’re unwilling, then don’t be afraid to look around for a firm that is.
Ready to make the switch?
If you recognise any of these signs and are now ready to make the switch then you’ll be pleased to know it doesn’t have to be as scary as it seems. We know all about switching and can guide you through the whole process.
Contact us today to find out more send an email to email@example.com or give us a call on 0121 233 0456, or come and have an informal coffee and a chat in our offices located in Birmingham’s Jewellery Quarter.