5 Red Flags That Signal It's Time to Switch Your Small Business Accountant

As a small business owner, you know that every decision you make has a direct impact on your bottom line. Having the right accountant by your side can make a world of difference. 

But what if your current accountant isn’t delivering the support you need? It’s easy to stick with what’s familiar, especially if you’ve been working with the same person for years. But as your business evolves, it’s important to ask yourself: Is this accountant still the right fit?

Let’s look at five red flags that might be telling you it’s time to find a new accounting partner. After all, you wouldn’t keep a product on your shelves that’s not selling—why keep an accountant who isn’t helping your business grow?

1. Communication That Leaves You Guessing

You’re busy running your business, and the last thing you need is to be left hanging when you have a question or concern about your finances.

Hard to Reach, Hard to Trust

One of the most common complaints we hear from new clients is that their previous accountant was unresponsive. 

Picture this: you have a pressing question about your finances, maybe about buying a new piece of equipment or adjusting your pricing, and you can’t get a hold of your accountant.

Frustrating, right?

Good Communication is the Foundation of a Strong Accountant-Client Relationship

At Patrick Accounting, we recognize that you’re running a business, and you need timely answers to make informed decisions. We set clear expectations from the start—we’re committed to returning your calls within 24 hours, and we offer multiple ways to communicate with us, including email, text, and our online app, Qount. We also operate in a virtual environment, which means we can meet with you via Zoom, no matter where you are.

If your current accountant isn’t making communication a priority, it’s a sign they’re not fully invested in your success. Poor communication can lead to missed opportunities, financial missteps, and a general lack of confidence in your financial management.

2. Financial Statements Arrive After the Fact

As a business owner, you need accurate, up-to-date financial information to make informed decisions—whether it’s deciding on a major purchase, adjusting your pricing, or planning for growth.

If your accountant isn’t delivering timely, accurate data, it’s more than an inconvenience—it’s a risk to your business.

For instance, you might believe you have ample cash on hand to make a significant purchase, only to discover later that the figures were incorrect and you’re short on funds. This scenario can result in unnecessary borrowing and increased debt.

Unfortunately, we’ve seen too many cases where business owners didn’t receive their financial statements for months—or when they finally did, the data was inaccurate. This can lead to costly mistakes, like thinking you have more cash on hand than you actually do, or underestimating your tax bill.

Getting the Right Information at the Right Time

At Patrick Accounting, we understand that timely, reliable data is critical for making sound business decisions, especially in today’s rapidly changing economic environment. We even have processes in place to compensate our team based on timely and accurate delivery, because we know how much it matters to you.

3. Lack of Industry Expertise: A One-Size-Fits-All Approach

Your business isn’t like everyone else’s, so why settle for an accountant who treats it that way? 

Expertise Matters

Industry-specific knowledge can make a world of difference in the advice you get. Whether you run a restaurant, a dental practice, or an auto repair shop, your accountant should understand the unique challenges and opportunities you face.

Think of it like hiring a general contractor for a specialized job—sure, they might get it done, but wouldn’t you rather work with a pro who knows the ins and outs of your field?

Are You and Your Accountant Speaking Different Languages?

If your accountant isn’t familiar with the nuances of your industry, they may not be able to provide the best advice or anticipate potential issues. Wouldn't it be nice to get advice that’s individualized to your needs, not generic suggestions?

How Specialized Knowledge Benefits Your Business

At Patrick Accounting, we specialize in small businesses across various industries, like restaurants, medical practices, and auto repair shops, among others. We bring years of industry-specific experience to the table, from knowing the right tech stack for your industry to understanding the unique financial pressures you face.

4. Surprise Fees and Unclear Billing Practices

One of the most frustrating experiences for any business owner is receiving unexpected bills from their accountant. 

Know What You’re Paying For

The traditional time-and-materials billing model, where you’re charged by the hour for services rendered, can lead to inconsistent and unpredictable costs. This lack of transparency can strain your relationship with your accountant and create unnecessary stress.
Transparent Pricing, No Surprises

At Patrick Accounting, we believe in being upfront about costs. Our subscription-based service model makes it clear what you’re paying for each month, so you’re never caught off guard. Whether it’s routine services or something extra, like an IRS audit, we’ll discuss any additional costs with you ahead of time. No surprises, just straightforward pricing.

5. Reactive Instead of Proactive Tax Planning

Tax time can be stressful for any business owner, but it doesn’t have to be. If your accountant only talks taxes when it’s time to file, you could be missing out on opportunities to save money throughout the year.

Tax planning is an essential part of managing your business finances, yet it’s often overlooked by many accountants. If your accountant isn’t actively helping you plan for taxes throughout the year, you could be missing out on significant savings.

Proactive tax planning involves regular reviews of your financials, identifying opportunities to minimize your tax liability, and ensuring that you’re prepared for any potential tax obligations. It’s not just about preparing your tax return—it’s about helping you keep more of what you earn.

Year-Round Planning for Peace of Mind

At Patrick Accounting, we don’t wait until the last minute to talk taxes. With mid-year and year-end reviews, we work with you to identify ways to minimize your tax liability and keep more of what you earn. Proactive tax planning is about more than just compliance—it’s about empowering you to make the best financial decisions for your business.

Is it Time for a Change?

If any of these red flags have you nodding your head (or shaking it in frustration), it might be time to reevaluate your accounting relationship.

Your accountant should be a trusted partner who communicates effectively, provides timely and accurate information, understands your industry, is transparent about fees, and offers proactive tax planning.

At Patrick Accounting, we’re here to be that partner. We love helping small businesses thrive, and we’re passionate about providing the communication, expertise, and proactive support you need to succeed. 

So, if you’re ready to take your accounting to the next level, Let’s chat