7 Reasons to Change Your Accountant

7 Reasons to Change Your Accountant

An accountant is an integral part of your business team, there are some reasons to change your accountant if you’re not quite getting the service, value, or comfort level you’d expect from them.

The right one can make a significant difference in the success and growth of your business.

With that being said, here are 7 reasons to change your accountant:

1. Your Accountant is Not Proactive

One of the first reasons to change your accountant is if they are not being proactive enough on your account.

A great accountant doesn’t only contact you once a year during tax season. They remain by your side throughout the journey, delivering tax guidance as needed and assisting with financial planning.

They stay on top of tax law changes, ensuring that your company stays ahead of the competition.

They delve deeply into knowing your company’s current state as well as where you want it to go. If your accountant is absent for the most of the year, it could be a hint that it’s time to choose a more devoted partner.

2. Your accountant is not providing you with the support you need

Accountants should be more than simply numbers crunchers; they should be team players. 

They should be available to help you through the complexity of operational planning, and financial planning, and ensure you are prepared for life after business with a solid retirement plan.

They should be able to translate complex financial jargon into plain terms, allowing you to make informed business decisions.

If you find yourself feeling bewildered following chats with your accountant, or if your questions appear to fall on deaf ears, it’s a shining clue that you may want the services of an accountant who values your business, like Tennick Accountants.

3. Your accountant is not responsive

Another one of the reasons to change your accountant is if they are not responsive enough; responsiveness is an essential characteristic for an accountant.

Financial matters can be time-sensitive, and a delayed response can lead to missed opportunities, unnecessary stress, and sometimes, financial loss.

Whether it’s a question about an unexpected tax bill, a sudden opportunity for investment, or a need to clarify some financial data, your accountant should be available to provide timely advice and responses.

Furthermore, responsiveness also means that your accountant is open to your queries, whether they’re simple or complex.

They should acknowledge your concerns promptly, even if they need some time to provide a detailed answer.

If your emails are ignored, calls unanswered, or questions dismissed, it might be time to consider an accountant who understands the value of prompt communication and respects your needs.

4. Your accountant is not providing you with value

The monetary fees you pay your accountant should reflect the value you receive in return.

Accountant fees should align with the value received, like tax savings, operational efficiencies, and strategic financial planning advice. If your accountant effectively navigates tax laws or streamlines financial operations, it can yield substantial savings.

However, if their service isn’t making your business more efficient or they’re charging for every consultation, reassess the relationship. The accountant’s cost isn’t just fees but the overall value to your business. If it’s lacking, consider finding a better-suited accountant.

5. Your accountant is not a good fit for your business

It’s crucial to recognize that each business is unique, with specific needs and goals. 

This means that the accountant who is perfect for one business might not be the best choice for another. An effective accountant should be well-versed in the dynamics of your industry, comprehend the challenges and opportunities tied to your business size, and be genuinely interested in helping you achieve your future aspirations.

Industries vary greatly in their regulatory requirements, common practices, and financial patterns. Having an accountant who understands these nuances can significantly impact your business’s financial management.

6. Your accountant makes continuous mistakes

Even the best professionals make mistakes, but in accounting, repeated errors or a single significant blunder can have catastrophic ramifications for your firm.

Accounting mistakes can result in inaccurate financial reporting, tax complexities, and even legal issues. A major error may reflect a lack of experience, a gap in attention to detail, or a fundamental misunderstanding of your company’s operations.

Accountants must be precise and accurate in their work.

They must double-check their figures, stay current on tax laws and regulations, and verify that all financial documents are correct and up to date.

If your accountant is making repeated mistakes or has made a single significant error that cost you money, it may be a sign that they are not capable of handling your business’s financial needs, and you should start looking for a replacement.

7. You simply don’t like your accountant

A successful professional relationship, especially one involving sensitive matters like finances, hinges on trust, respect, and personal rapport. It’s essential to feel comfortable discussing your business finances with your accountant.

They should be approachable, listen to your concerns, and explain things clearly. Your accountant should also show respect for you and your business, demonstrating a genuine interest in helping you succeed.

Sometimes, even when an accountant is skilled and competent, there might be a personality clash or other intangible factors that make the relationship uncomfortable or unproductive.

These can be as simple as communication style differences or as complex as conflicting values. If you find yourself dreading meetings with your accountant, or if you simply don’t like them for any reason, it’s valid to consider a change.

Things To Keep in Mind

If you are considering changing accountants, here are a few things to keep in mind:

  1. Get referrals from friends, family, or business associates.
  2. Check the accountant’s credentials and experience.
  3. Interview several accountants before making a decision.
  4. Ask about the accountant’s fees.
  5. Make sure you feel comfortable with the accountant.

Final Words On Reasons To Change Your Accountant

In conclusion, having an accountant who is proactive, supportive, responsive, and provides value is essential to the financial health and success of your business.

It’s crucial to have an accountant who understands your business, avoids mistakes, and with whom you feel comfortable and trust.

When any of these elements are missing, it might be a sign that it’s time to consider a change. After all, your business deserves the very best financial advice and guidance. Don’t let a subpar accountant hold you back.

If you’re looking for an accountant who truly understands the value of client relationships, we invite you to consider Tennick Accountants. Our team of experienced professionals is dedicated to providing comprehensive, tailored services that not only meet but exceed your expectations.

Gary Davis - Managing Director of Team Build Group

"I have known and worked with Graeme and his amazing team at Tennick Accountants for several years and have always found them to be proactive, easy to deal with and focused on providing a quality service."

Gary Davis – Managing Director of Team Build Group
 

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