Gather essential details, including the client’s name, company name, contact information, and preferred mode of communication.
Identify the New accounting client checklist specific accounting requirements, such as bookkeeping, financial statement preparation, tax planning, or payroll processing.
Engage in a detailed conversation to understand the client’s expectations, objectives, and desired timeline to tailor services effectively.
Contents
Documentation and Paperwork
Prepare an engagement letter to formalize the working relationship, outlining services, fees, and terms.
If necessary, sign a confidentiality agreement to ensure the security of the client’s sensitive financial information.
Obtain vital financial documents, such as bank statements, previous tax returns, invoices, and receipts, to gain insights into the client’s financial situation.
Accounting Systems and Software
Evaluate the client’s existing accounting systems and software to determine necessary updates or changes.
Provide recommendations for suitable accounting software based on the client’s needs and offer training sessions if required.
Chart of Accounts and General Ledger Setup
Work with the client to establish a customized chart of accounts that aligns with their business structure and financial reporting needs.
Set up the general ledger in the accounting software, creating accounts for assets, liabilities, revenue, and expenses.
Communication and Reporting
Determine the frequency and preferred mode of communication to ensure regular updates and prompt resolution of queries.
Discuss the client’s reporting preferences, such as monthly financial statements or annual tax filings, tailoring the process accordingly.
Compliance and Regulations
Evaluate the client’s tax compliance status, including filing and payment history, and offer guidance for adherence to tax laws.
Determine if the client needs to comply with specific industry regulations or standards and provide accurate advice and support.
By following this comprehensive onboarding checklist, we establish a seamless transition and a successful partnership with our accounting clients. Our experienced team is dedicated to guiding clients through each step, providing expert support along the way. Our team of experienced professionals is dedicated to guiding clients through each stage, offering expert support every step of the way.