Client Accounting Services Could be the Key to Unlocking Your Business’s Growth Potential

As a business owner, you are likely aware that managing the finances of your business can be a daunting task. Hiring a qualified accountant or bookkeeper to handle the books can be expensive and time-consuming. Outsourcing your accounting functions can be an excellent way to save time, money and resources.

Client Accounting Services (CAS) are a variety of accounting services provided by CPAs to clients that range from basic bookkeeping to advanced management reporting, advisory and guidance services to businesses of all sizes. With CAS, companies can outsource their entire accounting function, allowing them to focus on their core operations.

Adams Brown offers scalable accounting services – transactional all the way up to advisory.

Transactional CAS typically includes:

  • Completion of basic bookkeeping tasks such as:
    • Accounts payable processing
    • Accounts receivable and invoicing
    • Account reconciliations
    • Monthly accounting close
    • Basic financial statements and metrics

This type of service allows businesses to maintain control over their finances and take a more hands-on approach to their financials. However, companies may need to hire additional staff to manage their accounts and may require additional training to manage their finances accurately.

Another option for advisory accounting involves outsourcing all the business’s financial activities to a third-party provider, including:

  • Write up services
  • Business process outsourcing:
    • Accounts payable/bill payment
  • Accounts receivable including collections
  • Cash flow analysis including cash management and reconciliation
  • Virtual controllership including preparation of financial statements, comparative reporting and budgeting.
  • Virtual CFO services including financial strategy, financial modeling and market analysis just to name a few of the additional services.

A benefit of utilizing an accounting firm that has a range of services is to take advantage of other services such as:

  • Tax planning and preparation
  • Wealth Management including financial guidance
  • Advisory and consulting

Reasons to Outsource Accounting Services

  • Cost savings: Outsourcing eliminates the need to employ full-time staff to manage accounting operations, reducing overhead costs.
  • Scalability: With outsourcing, businesses can increase or decrease resources depending on workloads and timelines.
  • Access to expertise: CPA firms have access to the latest technology, software and industry knowledge to ensure accurate and timely accounting services.
  • Access to a larger talent pool: Outsourcing provides a larger pool of skilled professionals and domain experts who can quickly adapt to changing processes and market trends.
  • Increased efficiency: Outsourcing accounting services simplifies and streamlines processes, improving efficiency and accuracy.
  • Improved cash flow management: CPAs can offer advice and strategies to manage cash flow better and reduce costs.
  • Improved focus on core business: Outsourcing accounting services allow companies to focus on their core operations and drive growth.
  • Increased security: CPA firms can provide additional security measures to protect sensitive financial data.

Whether your business needs reliable, day-to-day transactional accounting functions or high-level expertise to assist with meaningful financials, you can rest assured that your company’s accounting needs are in the hands of professionals who know the ins and outs of finance and accounting.

Adams Brown provides accounting services to businesses across the U.S. These companies range from those with no internal financial team to those with sizeable accounting teams and everything in between. Solutions can be customized to meet your specific needs, big or small. To learn more, contact an Adams Brown advisor.