When is the right time to switch accountants?

Whenever you speak to your accountant do you feel like just another number rather than a client they genuinely care about?

This isn’t a relationship you should have with anyone you outsource, from lawyers and bookkeepers, and all other professionals in between.

You should always have an honest, transparent relationship with anyone that you entrust your businesses money with. So if you’re facing any of the red flags below, it might be time to search for a new accountant in Melbourne.

When should you change accountants?

You should never feel guilty for changing your accountant.

If they are not working for you and you don’t feel like you’re getting the attention or value you deserve, then there are plenty of other business accountants that can do better and help you optimise your business’s finances.

If you’re starting to get a bit skeptical of your current accountant, you should look out for these signs to affirm your suspicion that it’s time to move on.

They charge you extra for things you thought were part of your plan

Does your accountant charge you extra money for basic services such as every single phone call or even for any emails you send asking basic questions?

Any good accountant would expect multiple questions and queries from all their clients, and if they charge you for every word you ask them, it can seem like they aren’t really motivated to help you – unless you pay.

Always arrange a mutual contract with them, and ensure you are clear on what your payment terms include.

You’re losing money rather than gaining it

Accountants are supposed to help you optimise your finances by:

• Helping you maximise all possible ATO tax deductions on your tax return
• Help you formulate a budget and business plan
• Uncover any errors or improvements to the way you bill customers or clients
• Help you comply with ATO laws to avoid fines
• Analyse areas where your struggling

If you find that the amount that your accountants are charging you does not meet the amount you’re profiting or saving in the long term, then what’s the point in hiring one in the first place?

You either need to find another Melbourne accountant who charges a more affordable price, or find one who gives greater advice and does more for you.

Your accountant does not understand your business

When searching for a CPA accountant in Melbourne, you need to find an expert team who understands your business, the industry, and all of its intricacies.

Your accountant needs a great understanding of what your business does on a day-to-day basis; this is the key to a fruitful relationship and successful accounting service.

Your accountant needs a good understanding of how business is – looking into enquiries, workload, turnover, resources, team members, new products… the list truly goes on!

Think of your accountant as an extension of your team; the more information they are equipped with, the better service they can deliver.

You don’t understand your accountant

If your BAS accountant speaks in jargon and you struggle to make sense of conversations, then it might be time to look elsewhere.

Your accountant should be on your level in terms of ensuring you understand your finances.

They should already be accustomed to a business owner’s way of thinking and understanding and adapt in the same way as you to ensure that their clients have complete trust and faith in the service they are delivering.

Can an accountant withhold records?

It’s an accountant’s responsibility to not leak or give data of a business to any other organisation.

Confidentiality is a priority at Bruce Edmunds & Associates, so you can be content in knowing that your data won’t be shared with any other organisation.

This is good news for you, as it means your accountant won’t pass information on to other people.

How do I change my tax accountant?

Changing your tax return accountant in Melbourne might be an awkward conversation to have.

Before speaking to them, double-check the contract or arrangement you have to see how long they are going to be working for you.

Bruce Edmunds can help make the transition as smooth as possible; we’re with you each step of the way ensuring that we (and you) are fully equipped with everything we need to get started immediately on your accounting!

Thinking about speaking with a prospective new accountant? Here are some important qualities you should look out for from the very first conversation.

Do they…

• Understand your struggles and concerns?
• Help you understand forecasting and budgeting?
• Assess your financial and business plans?
• Give you advice and recommendations on what tax structure suits your business?
• Speak to you about GST requirements and other legal compliance matters?

Are they transparent, reliable, efficient, and professional? Then you’re onto a winner!

Can you have two accountants?

You technically can, but in most cases it is unnecessary and means you probably just can’t let go of your initial accountant. Having one suitable accountant will also help you save money!

Is it easy to switch accountants?

Switching accountants is easy when you contact Bruce Edmunds

Bruce Edmunds are small business accountants in Bayside, Melbourne, who can help you switch over from your old accountant.

Business owners need to be honest with their employees and clients, so you should be honest with your accountant as well.

Bruce Edmunds are experienced, trained, and qualified accountants who will not disappoint.

We’re always cautious about why people switch or leave their accountants, ensuring we exceed your expectations and make your decision to change worth it!

We also act as personal accountants if you need support for your personal finances, too.

If you’re your own boss and looking for an accountant, knowing the right questions to ask is key. This guide provides a set of important questions tailored for self-employed individuals, helping you make informed decisions when selecting the perfect accountant for your needs.

Contact our accountants in Melbourne on (03) 9589 5488 or fill in this form today!