My bookkeeper is retiring. What do I do?

The short answer, in four steps

• Don't wait for the last day. The time before they leave is when a handover is easiest.
• Move access into your name. Software, bank feeds, payroll, and CRA. Nothing should depend on their login.
• Get the calendar and open items in writing. When each filing is due, and what's outstanding.
• Overlap. Some time with your old and new bookkeeper working side by side.

What to collect before they leave

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• Admin login to your accounting software, in your own nameIf the subscription is in your bookkeeper's name, transfer ownership before they go.
• Bank and credit-card feed connectionsWhich accounts feed the books, and who set them up.
• Payroll provider accessPlus the remittance schedule and who submits it.
• Who is authorized to represent you with CRAYour business number, program accounts, and current representatives.
• Your sales tax filing frequency and the next due date
• Your fiscal year-end and who prepares the return
• A written list of anything open, late, or unusualIncluding amounts owing to CRA and any correspondence.
• Where receipts, statements, and past returns are kept

Who can access your CRA accounts

If your bookkeeper files or talks to CRA for you, they may be set up as your authorized representative. Ask who is authorized today, remove access for anyone leaving, and add your new bookkeeper. Offline (phone and mail) access is authorized with CRA form AUT-01.

Source: CRA, AUT-01 Authorize a Representative for Offline Access. Confirm the right method for your business with CRA or your accountant.

If they've already left

It's recoverable. We rebuild the file from your bank statements, your CRA account, and whatever is in the accounting software, then confirm what's been filed and what hasn't. It takes longer than a handover, so start as soon as you can.

Finding a new bookkeeper or accountant

Switching accountants or bookkeepers goes best when the new one can work alongside the old one before they leave. When you're comparing options, ask who will actually do the work, how you'll reach them, and exactly what they'll take on: bookkeeping, payroll, sales tax, year-end.

We're a CPA-led firm, so one team can pick up the books and work with you on year-end and tax.

What carries on

The aim is continuity: the same level of service your business is used to, with a firm behind it.

• Bookkeeping. Monthly entries and bank reconciliations.
• Payroll. Pay runs and remittances.
• Sales tax. GST/HST filings.
• Year-end. A clean set of books for whoever prepares your return.

Are you the bookkeeper who's retiring? See selling your bookkeeping practice.

Questions