5 Signs That It’s Time to Choose a New Accountant

Is your accountant better at invoicing you on time than submitting your tax before the deadline? Or perhaps they permanently seem to be out of the office when you ring them? If so, these are just some of the signs that it’s time for you to choose a new accountant to handle your business account.

Your Business Needs Have Changed

One of the most common reasons why people choose to change accountants is that the needs of their business have changed. Perhaps you have outgrown the capacity of your current account, changed the status of your business, or now operate a business structure which no longer requires the specialist knowledge of your current accountant.

Business growth is one of the few reasons why you should change accountants that has little to do with their skill or competency and is simply due to their capacity, or lack thereof.

They Have No Experience in Your Industry

Working in a specialist industry means that your accounting needs will be more complex than the average business. This means that as your business grows, you might find that your accountant doesn’t have the specialist knowledge necessary to properly look after your account. As with any industry, accountants can’t be expected to know everything, which is why many firms specialise in one area such as forensic accountancy, landlord accountancy, or contractor accountancy services.

The Relationship Has Soured

If you find that your relationship with your accountant is no longer what it used to be, this could be a sign that it’s time to change firms. Whether it’s a lack of communication or consistent lateness when it comes to delivering forms, updates, and other tax essentials, a breakdown in your working relationship means that it’s time to find someone more suitable to meet your business needs.

You Frequently Receive Unexpected Bills

Even if you have a great working relationship with your accountant there could still be some red flags that signal it’s time for a change. For example, if you often find yourself receiving unexpected bills from your accountant or that you’re never quite sure how much you owe them each month, it could mean that it’s time for you to find a new accountant with a more transparent billing structure.

Unexpected bills can often arise from ad hoc services and consulting; while it’s fair to expect to be paid for work, your accountant shouldn’t necessarily bill you every time you turn to them for advice. After all, accounting can be a complicated matter and you should be able to turn to your accountant for support and advice without expecting a hefty bill each time you do so.

They Bombard You with Confusing Jargon

Most businesses employ an accountant so that they can leave the keeping of their books to the experts while they get on with the day-to-day tasks of running a company. Because accountancy is a highly-technical area, accountants can often hide behind technical terms and jargon to explain why you need their services, in the hopes that you will feel too overwhelmed to question their value to your business and simply pay their invoice.

If this sounds familiar, then it could be time to make the move to an accountancy service that will clearly break down what they can offer your business and ensure that your account is managed by someone who will be on hand to guide you through the process, supporting you with anything you are unfamiliar with or unsure about.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes