Switching accounting firm – how it works step by step

Why do companies switch accounting firms?

The most common reason is that the business has evolved. What worked when the company started out does not always fit when it grows, hires staff, or adopts digital workflows. Other frequent reasons include wanting a dedicated point of contact, faster responses, clearer pricing, or more advisory support on the figures.

Whatever the reason, switching is an excellent opportunity to review routines and systems. Many businesses benefit from both better organisation and more free time after making the switch.

Can you switch mid-year?

Yes. You do not need to wait for a new financial year. The bookkeeping continues from the month where the previous firm left off, and the new firm takes over based on opening balances and existing records.

The important thing is to plan the handover so that nothing falls through the cracks, such as a VAT return or a payroll run. You should therefore agree on a firm date for when responsibility transfers.

Step by step: how the switch works

A switch typically follows the same sequence. With a new firm assisting you, it rarely takes much of your time as a business owner.

1. 1Compare and choose a new accounting firm. Calculate a price, describe your business, and request a quote.
2. 2Read your current contract. Check notice periods and the terms regarding ongoing work.
3. 3Terminate the old contract and agree on a date when the new firm takes over.
4. 4Grant the new firm access to accounting software, banking, and any other systems.
5. 5Collect documentation from the previous firm, such as bookkeeping records, reconciliations, and the latest year-end closing.
6. 6Review routines together: how documentation is submitted, when payroll is run, and who does what.
7. 7Verify opening balances and reconcile bank accounts, tax account, and subledgers upon handover.
8. 8Continue ongoing operations with the new firm and conduct a review after the first few months.

What documentation needs to be transferred?

The exact requirements depend on the business, but the following are typically included in the handover:

• Bookkeeping records for the current financial year and prior years, preferably as a SIE file.
• The latest year-end closing and annual report.
• Reconciliations for bank, tax account, accounts receivable, and accounts payable.
• Payroll summaries, employment details, and holiday balances if the company has employees.
• Fixed asset register including fixtures, fittings, and depreciation schedules.
• Information regarding contracts, loans, leases, and other commitments affecting the bookkeeping.

What should you consider?

Find out how authorisations are handled. If the previous firm acted as a representative with the Swedish Tax Agency or held power of attorney with the bank, these permissions must be updated during the switch. Ensure the new firm receives the necessary access, and that old permissions are revoked.

Also check which accounting software is being used and who owns the licence. Sometimes the company can keep its software; other times it is better to migrate to a new system in connection with the switch.

Keep upcoming deadlines in mind. Identify which tax returns and reports are due next, and determine who is responsible for them. Current dates can be found at the Swedish Tax Agency.

Common mistakes to avoid

Most issues during a switch relate to communication and scheduling. In particular, avoid:

• terminating the contract with your old firm before you have a new one ready to take over,
• leaving a VAT period or payroll run without anyone responsible,
• forgetting to transfer or revoke authorisations and powers of attorney,
• starting the new collaboration without reconciling opening balances.

How Bokföringskollen helps during a switch

When you choose us, we review your business and how your accounting has been handled so far. We help you collect documentation from the previous firm, set up routines for submitting receipts and invoices, and ensure that payroll and tax returns continue seamlessly without interruption.

You get a dedicated point of contact from day one. We work digitally with businesses across Sweden and can also meet in the Gothenburg area if you prefer to review the handover in person.

Ongoing bookkeeping →Payroll administration →Digital accounting →How much does an accounting firm cost? →

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