CPA Client Retention Checklist

Review the client's activity for the previous year to gain insights into their financial performance. Identify trends, patterns, and areas of improvement. This analysis will help in understanding the client's business better and provide valuable information for the retention process.

Identify any significant changes in the client's activity compared to the previous year. Look for changes in revenue, expenses, customer base, or any other relevant factors. These changes will guide the decision-making process for retaining the client.

Update the client's data in the accounting system to reflect any changes identified in their activity. This will ensure accurate financial records and facilitate ongoing monitoring of the client's accounts.

Compile a comprehensive account review for the client, summarizing their financial performance, highlighting key metrics, and identifying areas of improvement. This review will serve as a basis for discussing the client's account and devising solutions.

Send the prepared account review document to the client. This will provide them with an overview of their financial performance and set the stage for further discussions.

Schedule a meeting with the client to discuss the account review, understand their goals and concerns, and gather feedback. This meeting will provide an opportunity to address any issues and ensure alignment between the client's needs and the services provided.

Analyze the identified issues in the account review and devise suitable solutions. Consider the client's goals, industry best practices, and internal capabilities while formulating these solutions.

Present the proposed solutions to the client during the scheduled meeting. Explain the rationale behind each solution and its potential benefits. Seek the client's input and ensure their buy-in before proceeding.

Reevaluate the client's needs and expectations based on their feedback during the meeting. Consider any adjustments or modifications required to align the services with their evolving requirements.

Make necessary updates to the client's service plan based on their feedback and revised needs. Document any changes to ensure clear communication and alignment between the client and the CPA team.

Prepare an updated service agreement reflecting the changes made to the client's service plan. Send the agreement to the client for review and signature. This step ensures a clear understanding of the services provided and maintains transparency in the client-CPA relationship.

Follow up with the client to ensure they have received and understood the new service agreement. Address any queries or concerns they may have and provide clarification if needed. This step helps in finalizing the updated agreement and maintaining a positive client relationship.

Address any queries or concerns raised by the client regarding the updated service agreement. Provide detailed explanations, additional information, or alternative options to resolve any issues. Clear communication and addressing client concerns are crucial for maintaining a strong client-CPA partnership.

Receive the client's signed agreement indicating their acceptance of the updated service terms. Process the agreement and update the client's file to reflect the revised service plan.

Update the client's file and internal tracking system with the details of the revised service agreement. This ensures accurate records and facilitates ongoing monitoring and support for the client.

Schedule the next regular contact or check-in with the client to maintain ongoing communication and ensure their satisfaction with the services provided. Regular check-ins help in addressing any evolving needs or concerns and strengthen the client-CPA relationship.

Document all actions taken during the client retention process. This includes all communications, agreements, updates, and any other relevant information. Proper documentation ensures a comprehensive record and supports effective decision-making and future reference.