Changing accountants works best when the handover has a clear boundary: what has been completed, what remains open and who will handle each next step. Choosing a new firm is only the beginning. An orderly transfer helps your business avoid duplicate entries, missing documents and uncertainty around filing responsibilities.

1. Agree a cut-off date and an outstanding-work list

Ask both providers to confirm the last accounting period covered by the outgoing firm and the first period covered by the incoming firm. List unfinished reconciliations, accounts, tax computations and authority queries. Check the engagement terms for notice, handover arrangements and outstanding fees.

Create a separate deadline list. Include each applicable filing, payment, approval and information request, with a named person responsible. Do not assume that appointing a new accountant changes a deadline or automatically transfers an existing assignment.

2. Collect a usable accounting pack

Request the latest trial balance and general ledger, together with bank reconciliations, receivables and payables schedules, fixed-asset records and supporting documents. Include relevant loan, payroll, inventory and director-account schedules.

Ask for filed returns, submission acknowledgements and correspondence about unresolved matters. Keep documents grouped by company and period. A PDF of the final accounts is useful, but it does not replace the detailed records needed to explain opening balances.

3. Check balances before starting the next period

Agree which balances are final and which remain provisional. Compare the closing trial balance with the opening balances in the receiving system. Investigate differences rather than posting an unexplained adjustment simply to make totals agree.

For example, an illustrative company moving providers at September month-end might still have an unmatched customer payment. Put that item on the handover list with its amount, date and supporting statement. This gives the new team a specific issue to resolve without duplicating the receipt.

4. Keep access under the business's control

List the accounting system, document store and government services involved. Confirm who controls subscriptions, exports and administrator access before changing anything. Request an appropriate user invitation or official authorisation rather than sharing personal passwords.

For IRAS business services, employees and tax intermediaries must first be authorised through Corppass. Check the particular service needed and review outgoing permissions when the agreed work is complete. See IRAS Corppass guidance.

5. Preserve records when changing systems

Do not cancel a system until you have checked that historical transactions and supporting documents remain retrievable. Open sample exports and attachments, rather than relying only on a successful download message.

ACRA's directors' duties guidance explains the company's accounting-record obligations. IRAS record-keeping guidance requires corporate tax records to be retained for at least five years from the relevant Year of Assessment. ACRA requires accounting records for at least five years after the end of the financial year in which the transactions or operations were completed. Confirm the applicable retention dates before disposing of anything.

6. Agree the software approach and first deliverables

A change of accountant does not have to mean buying a new subscription. Discuss transaction volume, invoicing, staff access and reporting needs before selecting a workflow.

BTA assesses your business operations before recommending software; Xero is optional, rather than a requirement for every client. BTA absorbs the software costs used for its own bookkeeping work within the agreed scope. Bookkeeping clients receive complimentary setup and training. If your business needs a client-operated Xero subscription for invoicing or daily operations, BTA assesses its suitability and agrees any separate subscription charges with you.

BTA can discuss accounting and bookkeeping alongside corporate tax, GST and payroll support where needed, with responsibilities and scope agreed for each service. Confirm the first reporting period, documents needed, review responsibilities and agreed fees. Contact BTA's accounting and bookkeeping team to discuss a practical handover.

Frequently asked questions

Can I change accountants during the financial year?

A handover can be planned during the year. Agree a cut-off date, responsibility for outstanding work and upcoming filing deadlines before the new arrangement starts.

What should I request from my existing accountant?

Request the latest accounts, detailed ledger, trial balance, reconciliations, supporting schedules, filed returns and acknowledgements, plus a list of unfinished work. Agree the final handover scope in writing.

Do I have to subscribe to Xero when moving to BTA?

No. BTA assesses your operations first. It absorbs software costs used for its own bookkeeping work within the agreed scope and provides complimentary setup and training for bookkeeping clients. If you need Xero for your own invoicing or daily operations, suitability and any separate subscription charges are agreed with you.

Does changing accountants restart record-retention periods?

No. Retain existing records for the applicable statutory periods. ACRA and IRAS use different reference points, so confirm the retention date for each relevant set of records.

Should I share my Singpass password with the new accountant?

No. Use the relevant official authorisation process. IRAS requires employees and third parties to be authorised through Corppass before accessing a business account in myTax Portal.

General information, not advice for a particular engagement. Requirements and access arrangements should be checked for the business concerned.