New Accounting Client Checklist

Onboarding your new accounting client is more than just a process—it’s your chance to make a strong first impression and lay the groundwork for a lasting partnership. By using this new accounting client checklist, you can set your client at ease, build trust from day one, and show them they’ve made the right choice in partnering with you.

1. Initial Consultation

Your first meeting with your new client is an important opportunity to set the tone for your working relationship. It’s an opportunity to learn about their specific needs, understand what they want to achieve, and discuss any challenges they might be facing. This is also the time to build trust and create a sense of partnership with them.

• Discuss your client’s needs, goals, and pain points: What are they hoping to achieve? What difficulties are they facing? What are their needs and priorities? This is the time to identify these things. For example, are they looking for better tax compliance, streamlined bookkeeping, or financial planning support?
  
  
• Set expectations for services and timelines: Be as transparent as possible in this initial conversation to help your client know what they can expect in your partnership. Clearly outline what services you will provide and the expected timelines. This will help avoid misunderstandings down the line.
  
  
• Provide an overview of your processes: Explain how you operate, from data collection to reporting. Highlight the tools you use, your security measures, and the steps involved in the services you will offer them. This will build trust.

2. Collect Your Client’s Information

To give your client the tailored support they need, start by gathering all the important details about their business. A thorough approach here not only ensures compliance but also shows your client you’re invested in their success.

• Business Details: Capture the legal name of their business, the entity type (like LLC or corporation), and their tax identification number (TIN).
  
  
• Financial Documents: Request recent financial statements, bank account details, and a list of assets and liabilities to get a clear understanding of their financial position.
  
  
• Tax Records: Ask for previous tax returns, sales tax documentation, and payroll information to evaluate past compliance and prepare for upcoming filings.
  
  
• Legal Documentation: Include registration papers, ownership agreements, and contracts. These will help you align your records with their legal structure.

3. Establish Communication Protocols

Good communication is the backbone of a strong client relationship—and your client partnership is no exception. Taking the time upfront to set expectations will help avoid confusion and keep everyone aligned. 

• Confirm your main point of contact: Identify who will provide key information and make decisions on your client’s behalf.
  
  
• Agree on communication preferences: Whether it’s email, phone, video calls, or a project management tool, find what works best for your client.
  
  
• Set a schedule for updates: Regular check-ins, like weekly calls or monthly reports, keep your client informed and engaged.

4. Set Up Accounting Software and Tools

Selecting the right tools and getting them up and running can make all the difference in your accounting workflow. The right software not only saves time but also reduces the chances of mistakes, allowing you to focus on delivering top-notch service. 

• Choose and customize accounting software: Based on their needs, select a platform like QuickBooks or Xero and configure it to suit their business.
  
  
• Ensure proper access: Grant secure permissions so your client and their team can safely access the system.
  
  
• Provide training: Walk your client through how to use the software effectively. Empowering them with knowledge builds confidence and trust.

5. Review and Organize Existing Financial Records

Before diving into new work, take a close look at your client’s existing financial records. This helps you catch any discrepancies early and ensures you’re starting with accurate information.

• Audit past data: Look for errors, omissions, or inconsistencies in their financial history.
  
  
• Resolve discrepancies together: Collaborate with your client to address any issues you find.
  
  
• Establish clean opening balances: Set accurate starting points in your accounting system for reliable reporting moving forward.

6. Define the Scope of Work and Sign the Engagement Letter

Having a clear agreement in place ensures that everyone understands their roles and responsibilities, reducing the risk of confusion or disputes down the line.

• Clearly outline services provided: Specify exactly what services you will deliver, such as bookkeeping, tax preparation, or financial consulting.
  
  
• Confirm fees and payment terms: Discuss your pricing structure, payment schedule, and any additional charges that may apply.
  
  
• Formalize the agreement with a signed engagement letter: Draft a document that includes all agreed-upon terms. Have both parties sign it to solidify the commitment.

7. Set Up Internal Processes

Behind-the-scenes organization is what keeps everything running smoothly. By establishing efficient workflows, you’ll deliver consistent, high-quality service and show your client that their business is in good hands.

• Develop SOPs for recurring tasks: Create workflows for activities like payroll and reconciliations.
  
  
• Track deadlines and compliance checks: Use tools like task management software to stay on top of key dates.
  
  
• Monitor regulations: Keep your processes aligned with the latest compliance requirements using specialized software.

8. Educate and Empower the Client

When your clients understand their finances, they become more engaged and confident in making decisions. Educating them not only builds their trust in your expertise but also creates a stronger, more collaborative partnership. By empowering them with knowledge, you help lay the groundwork for long-term success.

• Teach clients to interpret financial reports: Explain key metrics and how to read balance sheets, income statements, and cash flow reports.
  
  
• Share resources to improve financial literacy: Provide guides, webinars, or articles to help clients better understand their finances.
  
  
• Create a supportive environment for questions and feedback: Encourage your clients to ask questions and provide input. Addressing their concerns fosters their trust and collaboration with you.

9. Follow Up Regularly

Regular follow-ups demonstrate your commitment to their success and go far beyond mere transactional interactions. This approach involves proactively engaging with your clients to understand their evolving needs, challenges, and goals.

• Conduct an initial review after one month: Check in to assess how well the processes are working and address any initial challenges.
  
  
• Monitor progress toward financial goals: Track key performance indicators (KPIs) and provide updates on progress.
  
  
• Build trust by demonstrating the value of your services: Share success stories, highlight improvements, and consistently deliver on your promises.

Final Note

Your client’s onboarding experience sets the tone for your entire relationship. You’ll create a welcoming and professional process that goes beyond basic steps by following this checklist.

When you prioritize communication, education, and tailored support for your clients, you’ll transform a first-time client into a long-term partner who views you as an essential part of their team.

Ready to take your client relationships to the next level? Start a free trial of Canopy today and see how a well-executed onboarding process can help you deliver exceptional service to your clients and grow your practice.