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New Client Onboarding checklist
Initial Client Information
Collect basic client information including company name, address, and primary contacts
Obtain the client's business structure (e.g., sole proprietorship, LLC, corporation)
Request identification documents for verification purposes (e.g., driver's license, passport)
Accounting and Financial Data Gathering
Request access to the client's accounting software and financial statements
Collect previous year's tax returns and other relevant tax documents
Obtain a list of assets, liabilities, and inventory if applicable
Compliance and Legal Review
Review the client's business for compliance with relevant accounting standards
Ensure the client's understanding of their tax obligations and deadlines
Confirm that the client has no outstanding legal issues that could affect financial reporting
Communication and Workflow Setup
Establish preferred methods of communication and points of contact
Agree on a schedule for regular updates and meetings
Set up a secure method for exchanging sensitive financial information
Service Agreement and Onboarding
Prepare and review the engagement letter detailing the services to be provided
Discuss and agree on the fee structure and payment terms
Onboard the client onto the firm's project management system or client portal
