client accounting services

the right mindset for client accounting services

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businesswoman making a presentationdo you want to follow your clients or lead them?

by hitendra patil
the definitive success guide to client accounting services

it was the 10th of may 2012.

more: client accounting services: the definitive guide
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over dinner on that quiet mid-spring evening at a classic traditional italian restaurant, i met the owner of one of my largest clients, only after about five years of providing services to his firm. his firm had chosen a particular niche industry to serve and only that. he was doing well – over $3.5 million in annual revenue, growing consistently and employing 39 staff members. in any given week, two new clients were being onboarded via a very detailed process, moving clients’ accounting databases and processes into his firm.

he would not take on any new client unless the client handed over all of the accounting work responsibilities to the firm. all or none. it was contrary to the way many of my other clients would operate when trying to sign on new clients.

i asked him: how can you afford to “lose” new clients, especially when they want to work with your firm? his answer intrigued me.

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client accounting services: the definitive guide

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there are challenges, but also great opportunities.

client accounting services:
challenges and opportunities
join the conversation. launch the questionaire.

with this post, 卡塔尔世界杯常规比赛时间 is launching a new series of articles and an expansion of our coverage into client accounting services, the fast-growing, but still much-misunderstood growth opportunity. with a special mix of technology savvy and visionary insight, hitendra patil, the best-selling author of accountaneur for 卡塔尔世界杯常规比赛时间, is uniquely positioned to tackle the tough questions, and to unearth the best solutions.  we look forward to hearing from you – your experiences, opinions, questions, comments, ideas and suggestions. – rick telberg, editor and publisher

by hitendra patil

client accounting services is becoming an increasingly important new revenue and growth segment for accounting firms of all sizes. yet, professionals are still grasping for the best practices, adjusting service bundles, searching for the right technologies, and optimizing prices.

more on entrepreneurial strategies: top 4 personality traits of successful accountants | client accounting services poised to surge in post-corona world | 20 ways to grow your firm in 2020 | 3,771 accountants help uncover cas success secrets | a.i. vs. auditors | automation makes it easier for accountants to offer cybersecurity | the what, why and how of artificial intelligence for accountants | six never-before opportunities for the accounting profession
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cas is, first, a mindset. it exists in every professional accountant. some know it exists in them. some don’t. some know that the cas mindset exists in them but do not make the most of it. instead, they try to become everything to everyone. they become more of “need-fillers” than “accounting entrepreneurs (accountaneurs®).” they find it challenging to become the “most trusted advisors” of their clients. those who don’t know that the cas mindset exists in them feel it will be overwhelmingly difficult to “learn” the cas mindset. they may try to acquire the mindset but give up too soon.
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client accounting services poised to surge in post-corona world

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seven covid-driven deliverables clients need today.

six-minute survey:
what’s your opinion of client accounting services?
yes. we’re doing it.
no. but we’re considering it.
no. and we’re not considering it.
no. we’ve tried it and dropped it.
huh? what’s “client accounting services?”

by hitendra patil

coronavirus caught the entire world totally unprepared for its aftermath. the impact on economies is unfathomable. accounting firms are not immune to this unprecedented situation.

more on client accounting services:  20 ways to grow your firm in 2020 | ‘found money’ delights clients  |  is client accounting services overhyped? | 3,771 accountants help uncover cas success secrets

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but, “same as last year” or “as always” will not work for accountants in the immediate and distant future. if you haven’t yet done so, it is time to start thinking about how are you going to overcome the crisis, and even thrive in the near future and beyond. especially important is to think about how client accounting services (cas) will emerge as a much-required and more valuable than ever service accountants can provide.

what are accountants doing now?

so, other than helping clients obtain small business loans and apply for paycheck protection program (ppp) benefits, what are accountants doing now? based on daily conversations with accountants over the last six to eight weeks, here are some core focus areas of accountants: read more →

‘found money’ delights clients

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businessman ogling money over another's shoulderhow to operationalize new services that find or save clients’ money.

by bill penczak

even during normal times, “found money” solutions are great door openers for new clients and a great value-add for your current clients.

more: re-thinking today’s firm with five global leaders | 5 things your firm should do differently this summer | do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | the three r’s for beating the corona crisis
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these solutions are different from traditional audit and tax work in that they are opportunities for companies to retrieve monies they’ve paid in the past, or are ways for companies to lower the cost of a function, process, or service for which they are already paying.

such solutions include:

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top 4 personality traits of successful accountants

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do you agree?

by hitendra patil
client accounting services: the definitive success guide

for years, i have been interacting with accounting firm owners and partners day in, day out from firms of all sizes, all over the country, and catering to a wide variety of industries and professions.

more: cas pricing and the accounting profession | how cas communications are different | your firm’s processes can set you apart | technology and your cas clients | top five cas killers and how to overcome them | 21 ways to adjust your practice in 2021
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some have been in practice for several years. some are just starting. but all of them are seeking success at the top of their agenda.
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is client accounting services overhyped?

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source: 卡塔尔世界杯常规比赛时间 research

new 卡塔尔世界杯常规比赛时间 study shows broad interest in cas, but also widespread failures to achieve hoped-for goals.

by 卡塔尔世界杯常规比赛时间 research

client accounting services (cas), the full-menu offering of taking over many of a client’s routine internal bookkeeping chores, is fast emerging as an essential growth strategy for accounting firms across the nation, according to a new 卡塔尔世界杯常规比赛时间 research study, perhaps the broadest such study undertaken in the field so far.

join the survey. get the results: the questionnaire remains open and all participants receive a special topline executive summary of the results at no charge, just for joining the survey. take the survey here.

but most firms admit they’re falling short of their financial and operational goals for cas, illustrating the daunting challenges for accountants seeking to shift from traditional compliance services to the high-margin, fast-growth role of a so-called trusted advisor.

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how ‘tech stacks’ can help you standardize

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screwdriver and wrenchyou’ll be more efficient and better connected.

by jody grunden

i believe it’s important for accounting firms to standardize their technology “stack.” having a standardized tech stack of applications helps to automate every corner of your workflow.

more: automation and the future of accounting | the rise of the virtual cfo | ready to be a virtual cfo? | the only three metrics you need to measure staffers
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the applications you use should be seen as an extension of your business. your onboarding process will be more effective if your team doesn’t have to learn a new set of tools every time a new client comes on board.
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large clients we landed from quickbooks consulting

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two women in office shake handssometimes small bait catches big fish.

by ed mendlowitz
call me before you do anything: the art of accounting

i’ve written about quickbooks and how we became the largest qb consultants in new jersey along with receiving a few clients with very substantial fees. i’ve gotten some calls asking about them and what we did, so here is a description of three of them.

more: why we train on excel, word and adobe | i used to hate quickbooks | things change | how to be ’the other guy’s accountant’ | why we ‘kill’ to get partnership returns out quickly | my first thought is to never turn down business | becoming an expert in irs collections
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the first client was someone who called asking to spend only one hour with us. at the time our minimum was five hours. we figured we would do him a favor and we told him the hourly rate if he would come to our office. he was a very nice, well-dressed man and spent the hour. he called us about a month later and asked if he could “buy another hour.”
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26 bonus benefits clients need to know

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businesspeople having a meeting over coffee sitting together at a table discussing a document, young man and two middle-aged women presentare you letting your clients know all the value-added ways you can make their business lives better?

by ed mendlowitz
call me before you do anything: the art of accounting

here are some value-added benefits to consider when performing obligatory services such as an audit or tax return, or any work for a client.

more: stop pricing by the hour | things change | how to be ’the other guy’s accountant’ | why we ‘kill’ to get partnership returns out quickly | my first thought is to never turn down business | the background to saving a business
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this is not – cannot be – a complete list, but you can use this to help think about the benefits and value you bring to the client on every project or assignment you do for them. have a look, and let me know in comments what you think. what would you add to the list? what would you eliminate? read more →

3,771 accountants help uncover cas success secrets

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small firms find a new revenue stream.

by hitendra patil

fresh insights are emerging from 卡塔尔世界杯常规比赛时间’ new survey, “client accounting services: trends, issues & opportunities.”

join the 8-minute survey. get the answers. you will receive, for free, the topline executive summary of the survey findings, just for participating in this survey.

it is possibly one of the largest cas surveys ever, with 3,771 (and counting) accountants responding to the survey.

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