Whatever size of business you’re running, you will always need services, be it accounting services, bookkeeping services, payroll services, or taxation services.
To keep a record of your business finances, it’s important for you to outsource services especially financial or accounting. Isn’t it? Well, you may be outsourcing accounting services to handle your business finances. To maximize your business’s profitability, you always need to take the help of a third-party service provider. But what actually happens is that sometimes you hire services and in the middle decide to discontinue it. Are you able to familiarize this situation? Yes, it does happen when you decide to discontinue accounting services for whatever reasons such as:
- – bad service provider
- – hidden charges
- – use of poor tools and technologies
- – not getting ROI
And many more. No matter for what reason you decided to discontinue accounting services, now that you have decided, let’s talk about what to do when deciding to discontinue accounting services.
Factors to consider when discontinuing accounting services
Once you start reading these factors, you’ll get to know what you should or shouldn’t do. So, let’s us get stared.
* Calculate your rates of return
The first reason you should consider when deciding to discontinue accounting services to know whether you’re getting the desired rate of return or not. Make sure you calculate the rate of return and know how much you have gained with outsourcing services. If you’re getting desired revenue from the services, then there is no need to discontinue services, and if not, then you can without giving a second thought to it. If you have calculated rates of return and didn’t meet satisfaction then you should discontinue the services right away.
* Look at the total cost of the business
Another factor you should consider while discontinuing accounting services is the total cost. What do you need to consider here? You should take fixed manufacturing cost, transportation, selling cost, customer service costs, storage cost, and any other cost into consideration. However, most of the information about these things is easily available to you if you have reliable or authentic bookkeeping service providers who maintain proper accounting books keeping a record of everything.
* Effective communication
Communication plays a great role when hiring any agency or availing of their services. If the experts and professionals of the agency aren’t properly communicating with their clients, then there is no point to continue to avail their services. Poor communication can result in the loss of many clients. Make sure your accountant is open for communication and easy to reach. However, if you have been experiencing this from the agency you’re getting services from then you must discontinue accounting services with them.
* Continue usage of poor accounting software
Today, the world is fully driven by digitization also because digital marketing has become an important way of doing business in the 21st century. In this modern world, can you afford to stay competitive with old methods, techniques, and software? No, you just can’t stay competitive with old tactics. Therefore, you need to leverage modern software like QuickBooks. If the agency is not working with the latest software then you must stop to avail their services as you won’t be able to get any results.
* Bad performance of work
At times you may find accountants doing wrong or bad work which may badly impact your business. You will find both trustworthy accountants as well as fake ones who may not perform their work effectively. So, if you think you have gut feelings to tell your accountant that he’s doing wrong then you must let him know that you also know what work he’s doing. In case, you’re seeing a bad performance of your accountant then you must discontinue your accounting services right away.
If you’ve decided to discontinue accounting services, then you should write a concise email letting the accounting firm know what problems you’re facing while availing of their services. Just tell them that you no longer need their services. If they genuinely concern about you, they will surely listen to your query and provide you valuable solutions. Moreover, you no need to give any explanation further if there is something wrong with their staff and services, then they might have some idea about it. I hope, you liked this article and found it informative.
If you got any query related to accounting services, just get in touch with us. We would be happy to solve your queries.