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Are you paying a pretty penny for your accountant’s services but receiving less time and effort than you think you should? Does your accountant spend more time invoicing you than actually managing your finances? Perhaps your business has simply evolved, and it’s time to move on to bigger and better things.
Whatever the reason, sometimes it becomes necessary to switch accounting firms. Of course, making this change can be easier said than done, especially since the relationship between a business owner and an accountant is typically a close personal one. In the following sections, we’ll look at some signs it’s time to switch accountants, so you know you’re doing what’s best for your company’s future.
1. You’ve Made a Significant Change
If you move to Australia, for example, your former accountant will be able to advise you on your tax obligations in your home country. However, you’ll likely also need to find a tax accountant in Melbourne or your closest major city. Similarly, if you switch from being an employee to running your own business, you may find that your former accountant isn’t the ideal fit for your changing needs.
Your accountant’s availability and offerings may change too. They may, for example, become so busy that you can never get an appointment. Significant changes like these indicate that it may be time to look for a new accountant.
2. You Think You’re Paying Too Much
Every business should have an accountant, but you shouldn’t have to forgo other essential business operations to afford one. Don’t hesitate to shop around and compare prices if you think you’re paying too much for your accounting services. Many accountants offer packages tailored to fit your specific needs, so it pays to be open to change.
3. Your Accountant Charges You for Every Little Thing
Does your accountant send you an invoice for every phone call and every piece of advice? If so, consider switching accountants. You should be able to call your accountant to get quick tidbits of financial advice without worrying that they’ll charge you a fee. A reputable accountant will happily answer your questions pro bono because you’re already paying for their services.
4. Your Accountant Isn’t Industry Specific
If your accountant doesn’t know your industry inside and out, they may not be the best person for the job. Industry-specific accountants offer tailored advice and are perfectly equipped to help you make strong financial decisions for your company and its future growth.
5. You Want Proactive Service
Does your accountant only appear and offer support during tax time? Small businesses need ongoing support and advice all year, not just during tax season. Putting out fires after the fact won’t help your business grow and thrive. You need an accountant capable of supporting and guiding you throughout the year, ensuring you make sound financial decisions that help your business grow.
6. Your Accountant Uses Complex Jargon and Doesn’t Explain Things
If your accountant uses complicated accounting jargon and doesn’t take the time to explain things in easy-to-understand terms, you might want to find one that does. Your accountant may be using this tactic to get you to pay invoices without questioning the services. It is, after all, impossible to accurately argue against something you don’t understand.
Every small business should have an accountant to manage the books and offer advice regarding financial decisions. However, if you see any of the signs listed above with your current accounting firm, it may be time to take your business elsewhere.
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