Choosing a financial partner who understands your business and delivers the advice and value you need is crucial for the financial wellbeing of your business. Not only is it a large financial investment for most businesses – it’s also an investment of your trust and confidence.
Over time, you might find that as your business has evolved, your current accountant no longer meets your needs. As a team of seasoned expert accountants, we understand the importance of a strong client-accountant relationship.
That’s why we’ve highlighted these 5 key signs to watch out for that might indicate that it’s time to consider switching your accountant.
Lack of proactive advice
A valuable accountant does more than just crunch numbers. They should be able to proactively offer advice to help your business grow and save money. This involves them getting under the skin of your business to be a truly plugged-in extension of your finance department.
Your accountant shouldn’t just be waiting for you to ask questions – they should anticipate your needs. If your accountant isn’t providing insights into tax planning, business strategy, or potential financial risks, it may be time for a change.
Choose Williamson & Croft for accounting partners who can provide strategic business advisory services.
Poor communication
Clear and swift communication is essential in accounting. If you’re constantly chasing your accountant for updates or if they use financial jargon you don’t understand without explanation, it’s a red flag. Your accountant should be responsive and able to explain complex financial concepts in simple terms.
Choose Williamson & Croft for accountants who prioritise responsive communication in clear, jargon-free language.
Limited expertise in your sector
As your business grows you’ll likely need an accountant with specific industry expertise. If your current accountant lacks knowledge in areas crucial to your business, such as R&D tax credits or international tax law, it might be time to look for a specialist.
Choose Williamson & Croft for a team with diverse industry expertise, from technology to property.
Outdated technology
Up-to-date accounting software is crucial for efficiency and accuracy. If your accountant is still relying on outdated methods or isn’t familiar with cloud-based accounting systems, they might be holding your business back.
Choose Williamson & Croft for accountants who use cutting-edge technology to provide you with key financial insights.
Your business has outgrown them
With any luck, you’ll have expanded your business since first hiring an accountant. With that expansion comes the need for a broader range of financial services such as tax planning, financial forecasting, mergers and acquisitions accountancy advice, international tax compliance or strategic business consultancy.
Choose Williamson & Croft for scalable accounting services that can grow seamlessly with your business.
Is it time to change your accountants?
Switching accountants doesn’t have to be a daunting process. At Williamson & Croft, we offer a seamless transition service, handling all the necessary details to ensure continuity in your financial management.
Don’t let an unsuitable accountant hold your business back. If you’ve noticed any of these signs, it might be time for a change.
Contact Williamson & Croft today for a free consultation and discover how our team of expert accountants based in Liverpool and Manchester can help take your business to the next level.
FAQs about changing accountants
How often should I review my accounting needs?
It’s a good practice to review your accounting needs annually or whenever your business undergoes significant changes e.g. During phases of rapid growth or when entering new markets.
Will changing accountants disrupt business operations?
With proper planning and communication, changing accountants should cause minimal disruption. A good accounting firm will manage the transition smoothly, ensuring all necessary information is transferred securely and efficiently.