Time for New Accountant? 6 Signs

New Accounting Firm - Complete Controller

An outsourced accounting firm is one of your most vital vendors. They are responsible for reducing your tax bill, performing all tasks related to bookkeeping, and warning you of potential financial hazards. Responsibly managed finances allow you to reinvest in your company’s growth, which is every business’s goal. As your business grows, you may likely need a new accounting firm that will be able to cope with your new scale of operations.Cubicle to Cloud virtual business

The job of an accounting firm is more than just filing tax returns or looking after your books. The firm should be your strategic partner, helping you in difficult situations and guiding you towards new and better opportunities. As an integral part of your business, it can take time to recognize the need to consult a new firm as your business grows. However, a few signs can help you decide when to hire a new accounting firm.

You Are Not Taken Seriously

When you cannot reach your accounting firm on the phone, it is time to acknowledge that it is too large to handle your unique needs. You never want to be the smallest client of any firm, as you may not receive the necessary attention given to their profitable, more prominent clients. Only a few firms maintain the same standard for every client, and they are quite rare. If you find yourself in such a situation, chances are something could go wrong with your work due to inattention to detail. It can lead to a stressful situation and merits a new accounting firm.

Lack of Interest

If a situation arises and you must explain your business operations to the firm every time you meet, it is time to find a new firm. This lack of interest means that you are a small client, or your business needs to be simplified for them to handle. If the firm has not contacted you for quite a while, requiring you to reach out every single time, you are probably better off without them. The right firm will stay in contact throughout the year and help you make important decisions regarding your business’s future.CorpNet. Start A New Business Now

When You Continually Find Mistakes

Because you are spending your valuable resources to hire a firm’s accounting services, they must ensure everything is in place. However, that is only sometimes the case, and you may start finding mistakes in the delivered work. Expect everything to be flawed, even if you have hired a firm to look after your accounting issues. 

Instead, complete regular reviews, and even without an accounting degree, you will be able to identify basic errors as you gain experience. When mistakes continually happen, this is the time to look for an 
alternative option and find a new accounting firm that can accurately handle tasks for you.

Lack of Ideas to Ease the Tax Burden

The key to managing taxation issues is being proactive and taking control of matters before they get out of control. Breaking down your business into subdivisions can help you identify the areas that can be focused upon to save you from a heavy tax burden. It is a basic approach; every firm may have its own tactic. Download A Free Financial Toolkit
However, if you do not feel your current accounting firm is interested in that matter, you should sever ties with them quickly. It would help if you gave yourself enough time to find a new accounting firm and let them understand your business operations. After they know the numbers and other critical matters, your new firm can 
proactively guide you towards lesser tax burdens.

Only the Most Basic Deductions are Presented

Your business is entitled to many deductions, and your accounting firm should be able to identify all of them, not simply basic ones like healthcare and dependent deductions. Your priority should be to improve your business’s cash flow and account for deductions such as the depreciation expense of new corporate assets. Failing to file them will unjustifiably place them off your records, which is bad for business. If your current accounting firm fails to cater to serious deduction matters, it is time to look for a new accounting firm.

You are Their Largest Client

It is neither advantageous to be the smallest nor the largest client of an accounting firm. Once your business grows to a certain level and you become the largest client of an accounting firm, it probably means you must find a firm that will grow with you. It implies that your operations now require professional services and a more qualified accounting firm that can handle things effectively. An experienced firm is better equipped to take clients on a similar scale.

ADP. Payroll – HR – BenefitsAbout Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.LastPass – Family or Org Password Vault