How Do You Change Accounting Firms Without It Being a Painful Process?

Switching accounting firms is easier than most practice owners think. The fear of disruption keeps people with firms that are not serving them for years longer than it should. Here is exactly what the transition process looks like.

What Do You Actually Need to Gather to Switch Firms? 

The document list is shorter than most people expect.

• Prior three years of business and personal tax returns
• Prior year financial statements (P&L and balance sheet)
• Current year-to-date financials if available
• Access to your accounting software.

That’s it. A new advisory firm handles the rest. You do not need to gather and organize years of documents.

Can You Switch Firms in the Middle of the Year?

Yes. And mid-year is often an ideal time. Starting a proactive relationship mid-year means you have six months before year-end to put tax strategies in place. The transition can take anywhere from 30-90 days, depending on how much accounting and tax cleanup needs to be done.

What Does the First 90 Days With a New Advisory Firm Look Like?

Weeks 1 to 2: Onboarding. Document collection, system access, historical review. Handled by the new firm with minimal burden on you.

Weeks 3 to 4: Current picture review. Prior year returns reviewed. Year-to-date financials analyzed. Key benchmarks identified.

Month 2: First proactive planning session. A strategic conversation about where you are, where you want to be, and what the rest of the year's plan looks like.

Month 3: First monthly report and ongoing cadence. Monthly reporting begins. Estimated payments confirmed. Mid-year strategy opportunities identified.

I was talking to a practice owner last month who had been meaning to switch firms for two years. We walked through exactly what the process looked like. She signed within a week. Her words: "That was it? I waited two years for that?"

If you have been thinking about making a change, a free strategy session is the place to start: https://redbikeadvisors.com/book-a-free-strategy-session