Changing Accountants

[Oziecom]

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Hi,

is anyone familiar with the process of switching to a new Accountant, and if so are there considerations I should be thinking about? For example, transfer of files and other information? I imagine this has to be passed across or perhaps pulled from prior returns via the ATO.

Current Accountant is not based in Melbourne which is making communications problematic on the whole.

I’ve had two years worth of returns for my PTY to date.

thanks
James.

[Paul – FS Concierge]

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Hi James.

I switched years ago without ant files at all being swapped but I am not saying that is best practice.

You could run into complications if your software plan is being sold to you through your Accountant but this is probably more a thing if you are not up to date if you owe them anything.

Maybe [USER=5318]@JamesMillar[/USER] could comment?

[James Millar]

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Oziecom, post: 269659, member: 93591 wrote:

Hi,

is anyone familiar with the process of switching to a new Accountant, and if so are there considerations I should be thinking about? For example, transfer of files and other information? I imagine this has to be passed across or perhaps pulled from prior returns via the ATO.

Current Accountant is not based in Melbourne which is making communications problematic on the whole.

I’ve had two years worth of returns for my PTY to date.

thanks
James.

Ask and you shall receive [MEDIA=youtube]gVQiFe5NuBQ[/MEDIA]

Nothing groundbreaking but might help in some way

Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900

[Oziecom]

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Thanks James. A good summary.

[bb1]

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[USER=5318]@JamesMillar[/USER] good article. Just a query, you often hear of solicitors refusing to pass on files (being there done that), but with them you can take it the Law institute (although they are a toothless tiger), is their anyone with accountants if there are issues.

[James Millar]

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bb1, post: 269664, member: 53375 wrote:

[USER=5318]@JamesMillar[/USER] good article. Just a query, you often hear of solicitors refusing to pass on files (being there done that), but with them you can take it the Law institute (although they are a toothless tiger), is their anyone with accountants if there are issues.

Hi Bert. Its a good question and a pet hate of mine. Any business that tries to put unreasonable barriers in place of clients / customers shopping elsewhere because they haven’t delivered a good solution – pathetic. Deliver a great service and meet or exceed expectations and it generally you won’t have many clients leave. Yes there are exceptions – where people just want to move on to see if the grass is greener elsewhere (happens in every business). Yes its tough to accept when you are on the receiving end and have done a great job but its a legitimate reason to them and ultimately its their choice. I certainly find it satisfying if a client leaves only to return a couple of years later once they find that promises of something better were predominately rubbish – unless of course they were after cheap rubbish which we won’t participate in because it causes more issues than it solves.

In the accounting industry there are probably four methods of recourse.

1. Contact the professional association the firm is a member of and lodge a complaint against the member. CPA and CA have strict by laws that members must abide by and if they don’t then the association will step in.

2. Contact the Tax Agents Board (Government Body that regulates tax agents) and lodge a complaint. Depending on the issue they may step in.

3. Lodge a complaint with consumer affairs

4. Initiate legal proceedings under common commercial law (breach of contract etc).

Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900

[Paul – FS Concierge]

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Hi James,

I saw the video.

You never covered off if there is any kind of file swapping with the old Accountant.

Is that a thing?

[James Millar]

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Paul – FS Concierge, post: 269666, member: 78928 wrote:

Hi James,

I saw the video.

You never covered off if there is any kind of file swapping with the old Accountant.

Is that a thing?

Yes it was very brief. Now days we access their cloud financial data and simply request copies of prior tax returns and financial reports if client does not have. Occasionally we need a workpaper or two if things are in prior accounts that can’t be determined. Certainly any folders that firm is holding need to be returned to client.

Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900

[bb1]

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JamesMillar, post: 269667, member: 5318 wrote:

Yes it was very brief. Now days we access their cloud financial data and simply request copies of prior tax returns and financial reports if client does not have. Occasionally we need a workpaper or two if things are in prior accounts that can’t be determined. Certainly any folders that firm is holding need to be returned to client.

Just on Pauls question, there are many stories around of where clients have gotten the ”discounted” cloud software via their accountant, and the accountant holds it to ransom, as they are technically the license holder. Any solutions to this?

[James Millar]

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bb1, post: 269669, member: 53375 wrote:

Just on Pauls question, there are many stories around of where clients have gotten the ”discounted” cloud software via their accountant, and the accountant holds it to ransom, as they are technically the license holder. Any solutions to this?

I’ve discussed this with senior Xero partner team and I believe they have ways and means of “assisting” resolve these matters. I was given the distinct impression that Xero have a very low tolerance for any Partners that take this approach with what is essentially client data. I’m not sure if the other platforms are quite so helpful (my guess is that they are not because we get little to no support from their partner teams. With Xero we can call our Partner account manager on mobile and report things like this and it will generally be resolved quick smart).

The best solution is to hold the subscription directly and do not let your accountant or bookkeeper hold it.

Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900

[bb1]

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JamesMillar, post: 269670, member: 5318 wrote:

The best solution is to hold the subscription directly and do not let your accountant or bookkeeper hold it.

Don’t worry I do hold my own, but sadly the well meaning partners, don’t tell people of the pit falls when they sell them the special deals, knowing full well that they are potentially creating issues for the unknowing client.

[James Millar]

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bb1, post: 269671, member: 53375 wrote:

Don’t worry I do hold my own, but sadly the well meaning partners, don’t tell people of the pit falls when they sell them the special deals, knowing full well that they are potentially creating issues for the unknowing client.

Can’t for the life of me think why an accountant would be messing around with subscriptions and on billing for the sake of $200 per year. Unwanted distraction

Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900

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