How to Transition to a Better Accountant

How to Transition to a Better Accountant
April 10, 2017 Toohey Reid

When you’re paying someone to look after your finances, you need to be sure that you’re getting the most value for your money, and that they are providing you with the best solutions for your individual needs.

If your accountant does none of the above, staying with them could be doing your business more harm than good and causing unnecessary stress and hassle. Not to mention, it will cost you more to fix up their mistakes!

Here’s how to tell when your accountant is not providing you with the best possible services, and how to make the transition to one who will:

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Why Change Your Accountant?

If you’ve been using the same accountant for a number of years, the thought of changing to someone new might seem overwhelming and disloyal. However, as a professional business owner, you need someone who can keep your financial affairs in order and ensure your business doesn’t go downhill.

If your current accountant is not keeping you informed, doesn’t know enough about the changing requirements of your industry, or is not providing you with opportunities for improvement, it might be time to change your accountant.

Above all, the right accountant should be a help to your business, not a hindrance. So, despite whether they are a family friend or one of the highest rated accountants in your area, if they aren’t looking out for your best interests, it’s time to give them the boot.

 How to Transition to a Better Accountant

How Do I Know the New Accountant Will Be Better?

Ideally, you want your new accountant to have a different way of thinking to the previous one, so that they can suggest creative ideas and processes that will improve your business efficiency.

Make a checklist of the qualities you want in your new accountant, then do some research to ensure they tick all the boxes. Recommendations from business acquaintances are good but always be objective, and double check their qualifications and experience.

How Do I Let My Old Accountant Go?

When you’ve found a new accountant, and you’re happy with the service they can provide you, out of courtesy, inform your previous accountant that you are changing. You’ll also need to notify the Australian Tax Office of the changeover (your new accountant will be able to take care of this for you).

At Toohey Reid, we pride ourselves on tailoring unique solutions to help grow your business. We focus on each of our clients’ individual needs and concerns, and help fix any issues that may be hindering your success.

If you’re not happy with the service you’re getting from your current accountant, give us a call on (07) 3221 1055 or send us an online enquiry today to find out how we can help you!

General Advice Disclaimer

General advice warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.

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