Practice Purchases – Checklist of Items to Collect At, or Post, Settlement
The other day someone asked, “what should I collect at, or immediately after, settlement, once the firm purchase has gone through”?
We started to build a list of the obvious items and included some that had been missed in the past and where their absence caused issues for purchasers of accounting firms.
The list grows, we would be interested in hearing from people with suggestions for adjustments to the list.
Item
Password and log on details for IT system
Keys – Office, Letterbox, Storage Room, Safe password, etc
Alarm Password
Lease, Lease Transfer
Bonds + Utility Bills
Plant & Equipment
Consumables
Furniture List
Computer Hardware + Accounts
Other Equipment, serial numbers, service contracts, etc
Technology
Accounting Software
CRM’s
Servers
Data Migration
Other Passwords
Associated relationships
IT personnel + Company Details
Back up Arrangements
Sim Cards
Intellectual Property
Domain name (Current + Historical)
Web Host
Business Social Media Accounts (Twitter / Facebook / LinkedIn etc. – anything used to communicate / market services to existing and future clients)
Logos (Past and present logo designs)
Brand name(s) (Trade Marks?)
Ownership of Logo(s) / Name(s) (What are the contract arrangements in relation to ownership of IP (letter head and web design))
Internal Systems and Procedures (Working papers on all internal processes and manuals)
Client Database (Relationship with client / origin of relationship / how many referrals / number of years / fees billed over 3 years)
Social Media Licensing / Images
All phone numbers and emails associated with the business
Other Assets
Assets register listing all assets
PO Box
Material Contracts
Serial numbers (Where relevant)
Debtors
Purchase / leasing details (For all recent and old items (date & company))
Guarantees / Warranties (On all physical assets)
Insurances
People (details crosschecked)
Principal(s)
Director(s)
Staff (Current and in the last 6 to 12 months (Staff / Contractors / Directors / anyone who was client facing))
Contractor(s)
Emergency contact people
Referral Companies (Key contact details and relationship)
Employment contracts / arrangements
Details of Associated Companies / contractors (Marketing / Designers / networking associations / education / practice management etc.)
Associated entities (Financial Planning / Finance / Real Estate / Insurance etc.)
Proper Authority Holder Registration
Operating and Associated Entities
Written Resignations (Of Directors / Public Officers / Other Statutory positions )
Other Resignations eg as Registered Company Auditor
Cessation of Tax Agents License, etc.
Share Transfers (If a company is being acquired is a share transfer required?)
Unit Transfers (If a Unit Trust is being taken over and Units sold / redeemed)
Magnus Yoshikawwa, Director Jadeja Partners
Thea Foster, Director, Added Value Corporation
For further information, visit www.jadejapartners.com
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