What is Client Accounting Services?
In recent years, the accounting industry has gone through a lot of advancements in terms of technology. One of these changes happened with the introduction of Client Accounting Services (CAS).
But you might be wondering, one of an accountant’s job is to proving 02158/ting services to its clients. Isn’t that CAS?
No, not quite. CAS includes a wide range of services, including a whole new scope of services that manual accounting may not cover.
The main objective of Client Accounting Services is to optimize the accounting services one provides to their customer. It takes a more focused approach, so one can solely attend to their needs. It also helps accounting firms to maximize their profits, as well.
So, let’s look at the features of Client Accounting Services.
What Does CAS Do?
CAS includes four services. These usually include transactional services, strategic services, performance services, and compliance services.
As part of that, firms that use CAS take care of duties like:
- They handle basic-bookkeeping for their clients.
- They provide financial statements, P&L’s, and reports for businesses.
- They file sales tax on behalf of their clients’ firms.
- They deal with payroll and handle all taxes related to providing those payroll services.
- They also give out business advisory and consulting services.
- They provide outsourced and virtual CFO services.
- Lastly, they might also monitor and regulate cash flows within the business.
Why Should You Use Them?
With the combined impact of skill, precision, technology, and highly trained professionals, more businesses are using CAS.
Especially, as firms have now begun to prefer outsourcing their accounting needs, they covet CAS.
A lot of accounting services are time-consuming jobs. For instance, handling payroll services can be a laborious task. When you outsource mechanical tasks such as these, it frees up times to contribute more work to value-adding tasks that generate higher revenue.
Higher Levels of Accuracy:
When hired experts whose main jobs are to handle your accounting needs, the results are bound to be more accurate and reliable. Firms that primarily handle accounting service are more trained, experiences, and skilled. They are proficient at their jobs, delivering higher performance, and more trustworthy returns.
If you think about it, outsourcing accounting services to firms that offer CAS is much more cost-effective in the long run. You won’t have to deal with operational costs such as maintaining staff and systems. Instead, you can use the saved money for funding a variety of other business ventures. Maintaining separate account departments will always cost more than outsourcing it. Thus, it is always better to hire accounting firms to handle your business.
Up to Date Technology:
CAS keeps up to date with the ever-changing technology of its industry. Trying to do this by yourself can drain your business’ funds and run you ragged. Thus, it’s best to hand over those responsibilities.
CAS is an excellent option for your business. It will help your business thrive.