If you're considering outsourcing your accounting, here's a quick guide about how that switch works and what you'll need to be prepared.
The Steps to Switch to Outsourced Accounting Services
- Make a list of things you love AND hate about your current accounting process.
- Identify your accounting goals.
- Backup your accounting software before you make the switch.
- Create access for you new accountants to your accounting software.
- Opt for "view only" access for your new accountants with bank accounts and credit cards.
- Review your aging reports.
- Complete the necessary paperwork provided by your new accountants ASAP.
- Provide copies of your last tax return and sales tax return.
- Set your new accountants up on any software systems they'll need access to like time-trackers, billing modules, etc.
- Make a list of memorized bills, the vendors, how much to pay them and when to pay them.
How to Keep The Business Running During Setup
- Don't switch to a new accountant during your busiest time of year. Wait for down time.
- Assign someone on your team that works directly with your outsourced accountant.
- Try to get the essentials working ASAP with your new accountant.
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