An accounting company is a very important element in the foundations of Your company. Therefore, its selection is usually quite a challenge, especially for those who decide to outsource accounting services for the first time. On the other hand, if You want to change Your accounting company,
such an action is also not the easiest and involves an overload of thoughts and formalities.
In this blog-post, we aim to ease the tension surrounding these topics and show that it is not as scary as it seems. At the same time, we understand where questions come from and we assure You that we are always prepared for it. Who asks never wanders and we’ll lend You a helping hand, no matter the topic. Speaking of which, after this brief introduction, we invite You to a short read.
Pay attention to this!
A good accounting firm is essential, but what defines one and how can You simplify the selection process?
- Transparency
Clear contract terms and pricing from the very beginning is an absolute must. Especially for an entrepreneur who values his time and wants to avoid the pitfalls of hidden costs and insinuations. Losing time is a blow to our business, especially, if the whole process worked against it.
At this stage, it’s also a good idea to make sure that the services offered are tailored to the specifics of Your industry.
- Experience and skills
It is one of the most important element that can not only make an accounting company stand out from the competition. It also ensures an appropriate level of customer service. Years of practice, courses and certifications provide initial assurance that the company has the expertise to meet Your expectations. This significantly increases Your chances of finding a partner who will be a “perfect fit.” This is especially crucial when dealing with non-standard services.
However, we caution. Many may promise You “the best service under the sun,” but few will actually deliver on those promises in practice. This is why it’s worth investing some time in thorough verification. After all, it’s Your business at stake. The time spent ensuring You choose the right partner will pay off in the long run.
Customer reviews play a significant role in establishing credibility. Don’t skip this step in the verification process. Real feedback from clients can reveal whether promises align with reality and whether responsibilities are handled accurately and on time.
- Professional Liability Insurance
This aspect is worth taking seriously, as it provides financial protection in case of possible mistakes. Let’s be honest – no one is perfect and mistakes can happen even to the best accountants. That’s why it’s crucial for an accounting firm to have adequate professional liability insurance (PLI) to cover damages caused by mistakes or negligence.
Importantly, according to regulations, accounting companies are required to have such insurance. However, the mandatory basic coverage might not always be sufficient. That’s why it’s worth checking whether the company’s professional liability insurance also includes additional clauses, such as coverage for damages related to HR and payroll services.
Exercise Your rights and request to see the insurance before starting a cooperation and signing the agreement.
- Additional facilities
Everything here works to Your advantage. If the accounting company uses modern technologies and advanced online tools, You can benefit from automated processes and convenient remote collaboration. This ensures peace of mind, knowing Your accountant is efficiently and continuously monitoring Your financial situation. Additionally, You’ll have access to real-time insights into Your company’s accounting and tax status, keeping You informed and in control.
Of course, here is important what You prefer. These days, getting things done online is a huge time and money saver. It’s worth keeping this in mind, but also be flexible. Don’t fight the system, if the matter requires a more traditional approach.
- Range of services
Every business has its unique needs. Which is why a good accounting firm tailors its services to the individual requirements of its clients. During the initial contact, it’s worth noting whether the company is open to personalizing its services. Whether it offers support beyond standard accounting tasks – such as assistance with financial advisory consultations. However, it’s important not to assume that every single document will be handled. Stay vigilant and informed.
Everything mentioned above represents, in our opinion, the most crucial aspects an entrepreneur should consider when choosing a professional accounting company. Following these tips will save You time and stress. Both are invaluable when running a business.
Changing an accounting company – is it time?
You might be wondering whether what we’ve written aligns with Your current experience, especially, if You’re already working with an accounting company. If our words have helped You reach certain conclusions, we encourage You to stay with us a little longer and keep reading.
Such a change might feel like a stressful decision. However, it’s worth viewing it as an investment – if the thought has already crossed Your mind, there’s likely a valid reason behind it. We’ll do our best to help You gain more confidence.
What should raise a red flag for You?
- Mistakes and inaccuracies in settlements.
- Too frequent corrections.
- Lack of promised support, especially substantive.
- Difficult contact with employees.
- Failure to perform assigned tasks.
- Lack of information on current issues and changes in the law that affect or may affect Your company.
When is the best time to change?
The optimal timing is at the turn of the year. Either at its end or at the beginning of the next one. This allows Your current accounting company to fully finalize the ongoing settlements, while You can seamlessly start working with a new team at the beginning of a fresh accounting period.
Of course, the change is possible at any time of the year. However, it’s worthwhile to plan the process carefully to make it the least cumbersome possible and to make sure we get everything right.
How to do it?
If You’ve made it this far, You might have already tentatively decided, but You’re still unsure how to get started.
- Think through Your needs
Prepare yourself and define Your expectations. Does Your company operate in a niche industry or require a customized approach? Remember what we discussed at the beginning of this article – think about what was missing in Your previous collaboration.
Use this knowledge to clearly outline Your requirements for the new accounting company. Be assertive and don’t hesitate to ask questions! It’s Your company and Your business, so You have every right to demand top-quality services that meet Your needs.
- Terminate the contract
Of course, reflections only are not enough – formalities are key to safeguarding both sides and effectively ending an unsatisfactory cooperation.
Remember the notice period, which typically ranges from 1 to 3 months. During this time, it’s essential to coordinate with Your current accounting company on the details of ending the cooperation. They are preparing the required documents, ensuring their completeness and finalizing settlements and any remaining tasks under their responsibility. Diligence in this process will help avoid misunderstandings.
- Forward documents
Something ends, something begins. Now it’s time to hand over the received documents to Your new accounting firm. It is crucial that the new company receives a complete set of documentation from the previous one. Including all contracts, ledgers, registers, invoices and employee records.
It’s best to establish a convenient form of communication and stay updated. To ensure the entire process runs smoothly and satisfactorily. Trust us – from the perspective of an accounting company, we care about this as much as You do.
- Proxies
Remember to revoke the proxy granted to the previous accounting company, which You are ending Your cooperation. Assign it to the new one You are starting to work with. Proxies are essential for the accounting company to fully perform its duties. Treat this matter as a priority to ensure the new proxies are active before the first deadlines for submitting various declarations.
- Report and update this change
There is no time to delay – if you have changed Your accounting company. You must report it to CEIDG (in the case of sole proprietorships) or using the NIP-8 form (in the case of companies).
This should be done no later than 7 days from the date of the change. Updating ensures that Tax Office have the most up-to-date information and can contact efficiently, if needed.
Here we conclude and summarize
We sincerely hope we have managed to present the topic of cooperation with an accounting company, an essential aspect of every entrepreneur’s life, in an accessible way . We believe that after reading this article, You better understand Your needs and finish it with concrete conclusions. That’s exactly what we aimed for. For more insights, feel free to explore other blog-posts on our website.
Don’t worry, if You still have doubts or if everything isn’t entirely clear to You. Reach out to our accounting company! With years of experience, we’ve helped a lot of entrepreneurs in various situations. We assure You, You’re not the only one feeling a bit lost.
So, if You’re thinking now about changing Your accounting company or would like to
explore what we have to offer, we warmly invite You to collaborate with us! We guarantee professionalism, a tailored approach and full support in managing Your business. We’re here to help!
