When should you switch to a monthly accounting firm like CSI? Whenever you decide you're ready to make a change. There is no “wrong” time, and we have the capacity to accept new clients and get their back work done year-round (unlike some smaller monthly firms).
But you want to know the BEST time to switch. Some people think it's best to change immediately, at the beginning of the year, or right after tax season. It depends on your situation, so let's talk about all three options.
At CSI Accounting & Payroll, we’ve onboarded new monthly accounting clients for nearly 60 years. That means we’ve answered these questions thousands of times:
- Should I start immediately?
- Should I start on January 1st?
- Should I start right after my taxes are filed? What if they’re on extension?
Switching Immediately
Now is the best time to switch accounting firms if your bookkeeping is falling behind or being handled incorrectly.
The more months that your books are neglected, the more months of back work will be required to get caught up. Even if your books are being completed inaccurately, an accountant will need to do back work to fix them, which means you'll be paying for that bookkeeping twice if you're not doing the initial inaccurate work yourself.
Don't let these things run on. They will only get more expensive to fix over time.
Switching at the Beginning of the Year
New Year's Day is a time for change. For some, this means starting with a new accounting service.
If your books are current and accurate, you may be able to save money by waiting until January 1st when your books are new for the year. That would mean you have no back work!
However, some business owners don't actually know the quality of their books. Remember, in instances of incomplete or inaccurate books, waiting longer will cost you more. For every month you wait, there’s an additional cost to have a professional fix it.
Switching After Tax Season or Tax Extension
Another time for change is after tax season. Your taxes are done, and you’re ready for a reset… but switching in the middle of the year may mean that you already have months of inaccurate or incomplete books to make up for. This is another example of how waiting longer can cost you more.
There are generally no benefits to choosing to switch after tax season, but it's better than waiting until later in the year if your books are suffering. Switching in April instead of in October, for example, could save you a few months' worth of back work (and give you a better opportunity for tax planning).
If you're waiting until after tax season to switch because you want your prior accountant to handle your taxes since they handled the prior year's books, you don't need to wait. They can handle your taxes, and we can handle your current year's books from the very start of the year.
However, if you're switching because your prior accountant put you on extension (even though you provided the information needed to file on time), we want to take over everything right away because we can likely get your taxes filed faster. You don't want to wait for penalties and interest to stack up if your estimated payments are short.
Switch Now & Reap the Benefits!
Now that you know about the pros and cons of starting immediately, on January 1st, and around tax season, are you ready to check out our monthly accounting services?
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, estimate what your monthly fee might be by clicking the image below:
