Managing an ecommerce business can be pretty stressful, and one of the best ways of lighting up the load on your shoulders is to work with an accounting firm. That way, financial data are handled, and you have expert information and analysis of how well your business is doing.
However, if you start to see some red flags or inconsistencies in the service that they’re providing you, your company may be contemplating a change. It can seem daunting to change accounting firms, especially during a time where ecommerce is doing so well. It would seem logical to maintain the current team you have on hand.
Some companies might need the change, though. If that team is holding back your operations and withholding the ability to make the best decisions for your business due to inaccuracies, it might be time to start with a clean slate.
Here’s how to figure out if the change is necessary.
Assessing Whether the Change Is Needed
The first thing to determine is the performance of your current accounting firm. It isn’t required to change your accountants, as some companies even have the same CPA throughout all their operations. However, if there seems to be any slacking that can hinder your ecommerce business, that’s a cause for concern.
One indicator that an e-commerce accounting firm isn’t for you is when they’re giving you a quote that seems too good to be true or they promise too many services. It’s highly likely that their performance has become unsatisfactory as they’re unable to sustain and deliver what they initially shared with you.
Other red flags may not be in their performance but the way their business is running. For example, if their website and accounting processes are dated and aren’t done through software, it can cause many old-school problems like lost invoices and lack of communication.
Looking for a New Accounting Firm
It’s essential to be critical when finding and verifying a new accounting firm so that any past mistakes can be avoided and you get the service you’re paying for. Try to compare your current accounting firm to the new candidates that you’re eyeing to ensure that you’ll be getting improvement. Upgrade, don’t downgrade.
Some of the best signs that you have a good accounting firm on your hand are that they can respond quickly and that they take the initiative. If they already have systems and accounting technology in place to carry out their services, it’s good. It’s less pressure on your business.
For ecommerce businesses, it should be a priority to look for an accounting firm that’s already had experience with your field rather than working with mere general accountants who don’t know the ins and outs of your industry.
Undergoing the Switch
It’s important to coordinate with your old and new accountants for your business’s sake. It’s only fitting to inform old employees, and your company’s financial records do have to get transferred just to make the transition easier.
Negotiate a short-term project. It can help gauge whether your business will earn great benefits from working with an accounting firm for a longer period. Any issues that arise during that time will also help you know what needs to be ironed out or whether you need to keep searching.
Conclusion
In summary, it is necessary to change accounting firms if it’s starting to affect your business or you aren’t getting the best services. Be sure to work with the best who can uplift your company rather than settling for a firm for the sole reason that they’ve been by your side the whole time.
Looking for e-commerce accounting services? The ECommerce accountant provides business and financial advice to online stores and influencers in Australia. Contact us today!