Closing or Adding Accounts Process

📌 Why This Matters

Our bookkeeping depends on having full visibility into all bank accounts, credit cards, revenue systems, and payroll providers a client uses. When clients open or close accounts or switch systems without notifying us, we are blind to the activity — which results in incomplete or inaccurate books.

These changes can happen frequently, and that’s normal. But unless we are informed right away, we cannot complete the books accurately or on time.

🛠️ Process Steps

1. Client Notification

   Clients must notify us whenever they:

   • Open or close a bank account, credit card, or loan.
   • Add or change revenue systems (POS, payment processors, e-commerce platforms).
   • Change payroll providers.

   This notification should be made through a call with your Client Document Manager or Senior Accountant or via an Insight message.

2. Information Gathering

   During the call or Insight message, we confirm:

   • The type of account/system being added or closed.
   • The effective date of the change.
   • Any old accounts that are no longer in use.
   • Contact details or login information for access setup.
3. Data Access Setup

   We must establish how we will obtain data from every new or changed account/system:

   • Preferred Method: BKE pulls data directly through a secure accountant login, bank feed, or platform access.
   • Alternative Method: If direct access is not possible, the client provides monthly statements or system exports by the 5th of each month.

   The agreed method must be documented during the call or message so the bookkeeping team knows exactly how data will be delivered.

4. Access Setup / Closure
   • For new accounts/systems:
     • Request login credentials, accountant access, or feed connection.
     • Test that access works.
   • For closed accounts/systems:
     • Verify the final balance and last transactions are captured; confirm the final statement has been collected and will be reconciled by BKE.
     • Confirm the account/system is inactive.
     • Remove or archive access in our records.
5. Internal Updates
   • Document the change in the client’s account notes.
   • Update our tracking systems with new access details or statement delivery process.
   • Notify the bookkeeping team so reconciliations and reporting reflect the change.