Making a Smooth Transition to a New Business CPA

Making a Smooth Transition to a New Business CPA

Kohl & Company CPAs
Jun 15, 2020

Are you considering switching to a new business accountant? The process can seem daunting, but here's a bit of guidance on how to get through the transition. If you're looking for a new CPA for your business, contact us to learn more about our services and how we can help you through the process of changing accountants.

Business financials and graph with pen and glassesAs a business owner, you rely heavily on your accountant to know the financial end of your business inside and out. So, it’s only natural that, when it comes time to switch accountants—regardless of your reason for switching may be—you might be feeling a little daunted by the change. In fact, you might even stick with a business CPA who does a less-than-stellar job simply because of how overwhelming making the switch seems. But the transition can actually be quite smooth and relatively painless if you follow the steps outlined below. If you’re looking for a new CPA for your business, contact the experienced business accountants and bookkeepers and Kohl & Company CPAs.

Establishing the Benefits of a Switch

The last thing you want to do is go through the process of transitioning to a new accountant, only to discover that your new accountant has all the same problems as your old one. You don’t want to switch to a new CPA on a whim; after all, passing around your business’s financials is not something you want to take lightly. Before you jump ship from your old accountant, you should establish a few things:

  1. Why are you leaving your old accountant? What are they lacking that you want from a business CPA? This might include things like more forward-thinking financial advice for your business, instead of just reactive accounting and focusing on past transactions.
  2. What does your current accountant offer you that you cannot live without?
  3. Does the accountant you’re planning to work with offer the must-haves you listed when answering the above questions?

Beyond this, it’s very important to look into testimonials of their current and past clients. Look at more than just their website testimonials, which will obviously focus on their happiest customers. Keep an eye out for common complaints across many testimonials; one bad review shouldn’t put you off of working with a certain accountant, but consistent complaints on the same topics should hold some weight.

Breaking Up with Your Old CPA

Once you’ve settled on which new accountant will offer what you need, it’s time to start making the transition. We’ll establish a formal relationship by way of a letter and agreement for services.

Obviously, starting a relationship with a new CPA requires you to break up with the old one, and breaking up is never easy to do, even in a business relationship. Luckily, most business accountants will make it easy for you; if you’re uncomfortable breaking the news to your old accountant, we can send an Ethical Letter of Takeover informing your former CPA that we’ll be taking over your business’s financials.

However, we do recommend that you still speak to your former accountant as you make this transition. Things will go much more smoothly if you both can work together to ensure all paperwork is properly handled and transferred over.

Moving Files and Information

Once we’ve informed your former accountant of your decision to switch, we will handle having files and information moved over on your behalf. Though we do recommend that you speak to your former accountant from time to time during this process, as mentioned above, we will handle the bulk of the actual transition process. We’ll ensure any physical files are couriered to our offices, and all electronic files and securely transferred.

As soon as we begin receiving your data, we’ll get you set up in our secure system so that we can start familiarizing ourselves with your business’s financials right away. We’ll go over everything that your former accountant sends our way, look for any possible errors that may have been made, and come to know your business’s finances as thoroughly as we can.

Helping Your Business Grow

By this point in the process, you’ll be fully separated from your old accountant and have an established relationship with our accounting firm. At Kohl & Company, that means more than simply maintaining your books and filing your taxes. We pride ourselves on doing more than just reactive, historical-based bookkeeping; we study your business’s finances and offer you advice and guidance to help your business grow. We become your partners in your company’s future, and stand by your side every step of the way.

If you’re looking for a new accountant for your business, contact Kohl & Company CPAs today to learn more about our comprehensive business accounting services. If you decide to make the switch, we’ll help to make the process as smooth and easy as possible for you. Contact us now!