Accountant Retiring? Here’s What You Need to Know 👇🏻

1. Get Your Records in Order

Before your accountant steps away, request all financial records, reports, and tax documents.

Make sure you have access to any accounting software, login details, and past filings to avoid last-minute scrambling. Having everything in order will save you time and prevent potential financial hiccups.

2. Review Your Current Financial Setup

Take this opportunity to assess your bookkeeping and accounting processes.
Ask questions like:

• Are you still using outdated systems? (Quickbooks Desktop, Excel, etc.)
• Are your books behind? Your bookkeeping should be up to the most complete month.

This could be the perfect time to upgrade to a more streamlined solution. If you’re in Bloomington, IL, consider working with a local bookkeeping professional who understands the financial landscape in your area.

We are a 100% virtual bookkeeping firm, and we can take clients within any state within the US. So… if you are not within Bloomington, IL, no need to worry! We can still help you get your accounting needs under control.

3. Find a New Accountant ASAP

As soon as you find out your accountant is retiring, start looking for a replacement. Ideally, choose someone with experience in your industry so they understand your business operations. A smooth transition starts with finding the right fit—be sure to share how your financial setup was managed before so they can guide you through the next steps seamlessly.

While searching for a new accountant, you may wonder:

Is it worth paying a bookkeeper?
The short answer—absolutely! A bookkeeper ensures your finances stay organized, keeps track of tax deadlines, and helps you make informed business decisions. In Bloomington, IL, bookkeepers typically charge based on experience and services offered.
“What do bookkeepers normally charge?” or “How much should a bookkeeper cost?”
We offer a flat monthly or quarterly rate. We offer various services based on the needs of the client. We believe in pricing transparency, so if you are interesting in seeing price ranges, head to our services page for the details.
Otherwise, other bookkeeping firms within charge hourly rates that can vary from $50 to $100 per hour, with some offering flat monthly pricing for ongoing services.

4. Ensure a Smooth Transition

Once you’ve found a new accountant, provide them with all necessary documents and details about your previous setup. The more they understand how things were managed before, the easier it will be for them to take over and improve your financial processes. Clear communication will help them guide you through the transition seamlessly, ensuring nothing gets missed.

Losing your accountant doesn’t have to be stressful! But, we can definitely understand if done improperly, can cause significant stress.

If you’re in Bloomington, IL, and need a reliable bookkeeping solution for your marketing agency, we’ve got you covered.