Info needed when starting new client

Hi there,

I hope this helps. What I do is make sure (that is my new client had a previous Accountant) is to make sure to get everything from their accountant that was in their file/s. I also make sure that they notify their previous accountant in writing and a phone call that they no longer require their services except for getting all of their information. Next, be sure you have their EIN # (tax ID #), all the necessary contact info; business name, address, phone #'s, how/if they keep track of inventory...that is if they have any, what type of company are they...S Corp, C Corp, Sole Proprietor, etc.... Sometimes, I actually ask the client to sit with me and watch, as well as participate as I go thru the QB's setup. This may be the way you want to know. That way, they can answer all your questions of what info you need.

I hope this helps!

Katrina

You also need the various account balances.

Also, make sure you get a fixed asset listing (preferably with updated amounts for accumulated depreciation). Some accountants do not include this information with the year-end tax return because it gives the accountant a surefire way of knowing a client is leaving since the information will surely be requested by the new accountant.