Client onboarding is a critical process in accounting. It ensures that new clients are smoothly integrated and that all necessary information is collected for effective service delivery. A structured onboarding process helps understand the client’s needs and establishes a solid foundation for a successful business relationship.
Initial Information Collection
Gather essential client details.
Client Contact Information
Collect primary contact details: name, phone number, email, and address.
Identify additional contacts for billing or technical queries.
Business Details
Document the business name, type, industry, and structure.
Record business registration numbers and tax identification numbers.
Accounting Needs Assessment
Understand the client’s specific accounting requirements.
Identify any existing accounting systems or software they use.
Service Agreement
Discuss the scope of services to be provided.
Outline terms, fees, and billing cycles in a formal agreement.
Setting Up Communication Channels
Establish effective communication.
Preferred Communication Methods
Determine the client’s preferred methods (email, phone, video calls).
Collect the past two years’ financial statements for review.
Tax Documents
Obtain copies of recent tax returns and filings.
Bank Statements
Gather the last six months of bank statements.
Contracts and Agreements
Review existing contracts, leases, and loan agreements.
Employee Information
Collect payroll records and employee tax documents.
System Setup and Integration
Accounting Software Setup
Choose and set up appropriate accounting software.
Data Migration
Import existing financial data into the new system.
Training and Support
Provide training sessions for client staff on using the new system.
Title for Fifth Section: Initial Review and Planning
Financial Health Assessment
Conduct an initial assessment of the client’s financial health.
Identify Key Issues
Highlight any immediate concerns or areas needing improvement.
Develop Action Plan
Create a tailored action plan addressing the client’s specific needs.
Continuous Support and Follow-up
Regular Check-ins
Schedule regular follow-up meetings to review progress.
Ongoing Training
Provide continuous training and support for new processes or software.
Feedback Loop
Establish a system for collecting client feedback and making improvements.
Onboarding Checklist
Onboarding Checklist
Engagement
Receive signed Proposal/ Engagement Letter from the client.
Set up automatic payments and client invoicing/ billing.
Payment is received.
Inform your team about the new client.
Assign a team member to your new client.
Send a warm welcome email (include a brief overview of the onboarding process, New client onboarding questionnaire online form link to collect necessary information, and provide contact information for onboarding-related inquiries).
Follow clients on social media.
Add client to an email newsletter.
Collect Client Information (include in the welcome email)
New client onboarding questionnaire (online form).
Set up Client Information in the System – Workflow
Add client information to CRM (such as contact details, billing information, etc.).
Set up an onboarding checklist in the workflow management system (such as gathering necessary documents, setting up accounts, conducting initial meetings, and outlining the scope of work).
Save client-shared docs in the company folders.
Client Kick-off Meeting
Schedule a kick-off meeting to discuss goals and expectations.
Share the meeting agenda.
Communicate any outstanding or additional documents required from the client.
Send a recap of the kick-off meeting (within 1 business day after the kickoff meeting).
Team Meeting
Assign tasks to team members.
Set the deadlines for their assigned tasks.
Discuss the communication plan, determine who the main point of contact will be, and determine how communication will be managed internally.
Add Users to Apps
Accounting system (QuickBooks online, Xero) access.
AP – Set up client (Bill.com, Plooto, Melio).
Payroll – Set up client (Gusto).
Tax – Set up the client (Tax software).
Time tracking (Tsheets).
Bookkeeping
Review Chart of Accounts.
Read-only access to online banking.
Read-only access to online credit card accounts.
Follow Up
Provide an update on the progress of the onboarding process.
