Client Accounting Services: Your Financial Guardians
The accounting industry has undergone some serious technical evolution due to digital and technological advancements, in addition to the global pandemic hitting the masses. As a result, accounting firms have been forced to change their working environments, the way they work, and the services they provide. This turbulent time led to an increased demand for client accounting services (CAS).
Though CAS has been around for a couple of decades, it is coming to full swing today. CAS has been successfully outsourced through our accountant in Bixby, OK, that offers an array of accounting services for the welfare of your business and organization.
What are client accounting services?
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. These services range from bookkeeping to advanced management reporting, advisory, and guidance services.
CAD expands beyond the conventional scope of bookkeeping and tax preparation. Client advisory services cover various areas like:
- Advanced Reporting
- Business efficiency
- Payroll management
- Tax preparation and filling
- Human resource management
- Software management
What does the CAS package include?
Typical CAS packages include:
- Transactional services
- Processing of accounts receivable (AR) and accounts payable (AP)
- Bill payment
- Cash management
- Compliance services
- Tax planning
- Tax preparation and payment
- Payroll compliance
- Financial statement preparation
- Financial reporting
- Performance and advisory services
- Data Analytics
- Outsourced CFO (strategic financial planning and modeling)
- Accounting software training
- Management of specialized accounting software
- Integrating platforms
What are the CAS formats?
A firm may offer CAS through various formats. These include:
- Onshore CAS
- This means you turn to a US-based CAS provider, and your bookkeeping and accounting professionals are located in the US.
- They cost more but provide first-rate service and top-notch specialists.
- Offshore CAS
- This means the team of accountant professionals will be located in a different country.
- They cost less but have limitations, such as the unavailability of professionals due to time differences and 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.
- But this does not mean they provide poor services because reputation matters, not location.
As the accounting industry has been evolving, CAS firms are becoming more and more popular. The main goal of these services is to ensure that you, as a client, have a peaceful mind and attain the most relevant information to drive critical decisions daily.