Changing accountants
Changing Accountants? Prepare the Bank Statement Handover
Last checked against Xero's documentation: 12 September 2026
Short answer
Short answer
When changing accountants, give the new practice a clear inventory of every business bank account and card, the original statements for the period they need, and structured transaction files where available. Mark the date at which reliable Xero bank feeds begin, identify missing months, and keep closed accounts in the handover rather than leaving them out.
A new accountant often inherits two incomplete pictures: whatever is already in Xero and whatever the business owner can still download from the bank. A good handover makes the boundary between those sources obvious.
Do not make the new accountant reverse-engineer the archive
Start with an account list, not a pile of files. Include trading accounts, savings accounts, loans, credit cards and accounts that closed during the period. State who owns each account and the dates covered.
If some periods are only available as PDF, converting them to CSV can save data entry. The PDFs should still travel with the CSV files so the new accountant can verify balances and resolve questions.
The safe workflow
- 01
Make an account register
List the entity, bank, account name, last four digits, currency, open or closed status, and required period.
- 02
Compare it with Xero
For each account, record the earliest complete bank-feed date and any known gaps.
- 03
Gather original statements
Download or request every PDF needed to cover the missing periods.
- 04
Prepare working files
Convert PDF-only statements to separate, checked CSV files for each account.
- 05
Write a short handover note
Call out missing documents, transfers between accounts and anything the accountant should investigate.
The Xero actions above follow Xero's published CSV statement import instructions, including column mapping, date-format confirmation and transaction review.
Checks before you complete the import
- Closed accounts and old credit cards are included.
- Each CSV has a matching set of original statements.
- The manual-data period and reliable Xero-feed period do not overlap unexpectedly.
- Known gaps are disclosed rather than papered over.
What Xero itself documents
Xero's manual-import guide says the standard workflow accepts OFX, QFX, QIF, CSV and QuickBooks formats, recommends OFX where available, and directs people with PDF-only statements towards a third-party conversion service.
Xero also documents manual imports for missing lines and transactions from before a feed starts. Its troubleshooting guide says CSV imports can fail because of invalid dates, spaces, blank lines, corrupt files or incorrectly prepared data. That is another reason to review the file before treating an import as finished.
Frequently asked questions
Does my new accountant need every old bank statement?
Ask the accountant which periods are required. At minimum, identify every relevant account and provide the source records needed to support incomplete or unreconciled periods.
Should I include accounts that are now closed?
Yes, if they were active during the period under review. Closed accounts are easy to miss and often cannot be recovered through a new feed.
Is a CSV enough on its own?
Treat the CSV as working data and the PDF as the source record. Providing both gives the accountant speed and a way to verify the extraction.
Can I combine all accounts for the handover?
Keep each bank and card account separate. A simple index can tie the files together without mixing their transactions.