The accounting industry is a strange one. No one likes to change accountants for some reason.
I don’t know if people are to scared, they think it is hard to get all the important information off the old accountant or people just hate change.
There are plenty of great accountants out there at the moment, very proactive, client focused but still people stick with these paper based, slow boring ones.
I wanted to do a quick video today just sharing how easy it actually is to change accountants.
When moving there are three things you need to have / take with you from your old accountant.
- Historical Tax returns & Notices of assessment – The ATO has done a great job in regards to now having on the portal access to all historic tax returns & notices of assessment for people and businesses. You new accountant can add you on here to access this information.
- Accounting ledger – Cloud accounting software now holds all information in the cloud so all you need to do is invite the new person into the software & they can see everything that has been done (or not done) historically.
- Historical cost bases for CGT assets etc. – When moving accountants send an ethical letter to the old accountant asking for any relevant files & data, as well as if there is any reason not to engage you as a client. The existing accountant sends over any relevant files they have. You existing accountant should also allow you to access any files they have relating to you for you to save down yourself to give to the new accountant.
Given how easy it is to change, if you are stuck with someone you don’t like. My only question is…. Why???