If your business has grown during the post-pandemic recovery, you may have noticed that your old bookkeeping system needs an upgrade.
It might seem logical to change software at the end of the year so you can have a fresh start for 2023. However, at the end of the year, your accounting staff will be working in overdrive to prepare the financial records and prepare financial statements and tax returns. Also, the accountants and consultants you may need to help with a transition and implementation will be busy at year-end. So, they may have limited availability, and their fees may be higher than other times of the year.
Consider the end of a quarter (e.g., March 31, June 30, or September 30) to make the change. Your tax advisor can provide guidance so you can make the right decisions.