Friday, February 23
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Client Accounting Services: A Trendsetter In Business Management

 

The client accounting service (CAS) has been trending globally over the recent decades. This can be attributed to digital and technological evolution and advancements. Due to this, several accounting firms have changed their working environments and the way they work and provide services, especially during the pandemic phase. 

The accountant serving Franklin, Springboro, and Miamisburg is highly experienced and offers a cascade of accounting services for the welfare of your business and organization. 

An introduction to client accounting service

Client accounting services (CAS), also known as client accounting advisory services (CAAS), are a variety of accounting services provided by CPAs (certified public accountants) to clients. It means that accounting firms can provide a deeper level of financial management, advanced management reporting, and business advisory support to business clients. 

Know more about the CAS package 

Typical CAS packages include:

  • Transactional services
    • Bookkeeping
    • Accounts receivable (AR) and accounts payable (AP)
    • Payroll
    • Bill payment 
    • Cash management
  • Compliance services 
    • Tax planning
    • Tax preparation and payment 
    • Audits
    • Payroll compliance
    • Financial statement preparation 
    • Financial reporting 
  • Performance and advisory services
    • Data Analytics
    • Benchmarking
    • Outsourced CFO (strategic financial planning and modeling)
  • Accounting software training
    • Management of specialized accounting software 
    • Integrating platforms

Exploring the CAS format

A firm may offer CAS through various formats. These include:

  • Onshore CAS
    • This means you gain help and advice from a US-based CAS provider, and your bookkeeping and accounting professionals are located in the US.
    • They may be expensive and a little out of your budget, but they provide first-rate service and top-notch specialists.
  • Offshore CAS
    • The service is provided by a team of accounting professionals that will be located in a different country. 
    • These services are cost-effective but also come with a few challenges:
      • The unavailability of professionals due to time differences
      • Cultural and linguistic issues. 
  • Centralized CAS
    • Here, the team of professionals works together daily from a single location.
    • They offer high-quality performance since the work goes on smoothly and fast.
    • They offer closer supervision and an in-depth understanding of finances. 
  • Decentralized CAS
    • Here, the distributed team consists of home employees who are not available physically in one place; thus, there is no strict supervision.

Benefits of CAS 

CAS offers several benefits to accounting firms, including: 

  • Business advisory becomes smooth and easy
  • Standardize and automate workflows and data 
  • You will be able to save more time 
  • Offers small to medium businesses an easy solution to grow in both size and revenue 

Bottom line  

CAS has become increasingly popular as the accounting industry is flourishing continuously. These services guarantee their clients a peaceful mind at work, in addition to being able to drive critical decisions daily.