If your small business is in a bad accounting situation, you know it… but you may worry about whether it’s the right time to switch accounting firms.
Don’t wait until you feel like it’s too late to change. Let’s talk about when “too late” is, and what happens if you put off changing accounting firms.
At CSI Accounting & Payroll, we’ve provided monthly accounting services to small businesses for 60 years. That means we’ve answered thousands of questions about the right time to switch, including:
- Is there such a thing as switching accounting firms “too late”?
- Am I switching too close to the tax deadline?
- Am I switching too late for my business to survive?
Is It Ever “Too Late” to Switch?
So, is it ever really too late to switch? No. Regardless of your situation, it’s never too late.
However, that doesn’t mean there are no consequences of taking your time to switch accounting firms. If your accountant is making you fall behind more and more, the more penalties and interest you can accrue if your estimated payments are short, and the fewer insights you will have. Don’t be left in the dark.
Too Close to the Tax Deadline?
Many accounting firms don’t accept new clients during tax season, so some business owners worry they’re too late to join. (Pssst! Not us. CSI Accounting & Payroll takes on new clients year-round!)
If your books are extremely far behind, that’s a different story. Firms that handle bookkeeping (such as monthly accounting firms) will need some time to do the back work to get you caught up. If you have several years’ worth of back work, it will take more than just a couple of months, and you may be put on extension if the tax deadline is sooner than that.
Should this stop you from changing accounting firms around tax season? No! Remember, the longer you wait to switch, the longer it will take for a new accountant to start fixing your accounting issues.
(Side note: If your accounting firm puts you on extension because they didn’t get your information on time, that’s not a red flag. Extensions are only red flags if the firm had everything they needed with plenty of time before the deadline.)
Too Late for My Business?
If you’re struggling to pay your bills and are going out of business, you may think it’s a bad time to switch accounting firms because you’ve hit a point of no return.
However, if you are closing your business and filing for bankruptcy, your books and taxes must be current to do so. If your current accountant has been letting your bookkeeping and taxes fall behind year-over-year, you’re never going to get caught up to finalize the bankruptcy. It’s important to recognize when your accountant is just digging you a deeper hole.
You need to find an accountant who will help you. CSI Accounting & Payroll can get your books and taxes caught up, provided that there’s an ability to pay us for our work. Don’t wait until your funds run dry. Make the switch now!
It’s Not Too Late to Switch!
Now that you know that there’s no such thing as “too late” to switch, but you can be late enough that there are consequences like penalties, interest, lack of insight, and extensions, are you ready to check out monthly accounting services with CSI Accounting & Payroll?
To see if we can be a good fit for your business, click the button below for a free consultation:
Not ready to talk? That’s okay! First, learn more about what your monthly fee may be by clicking the image below:
