by Megan Pensack, Senior Manager
and Josh Dzyak, Director

Accounting is a necessary function for businesses and organizations, but it often – too often – is considered a burden by business owners. One way to ease that burden is through client accounting services (CAS), a range of outsourced accounting and financial services offered by accounting firms. For many organizations, CAS is an effective and efficient way to streamline operations, engage in thoughtful financial planning, and ensure high quality financial management, performance and reporting.

While bookkeeping and compliance work are often part of a CAS relationship, CAS goes beyond those traditional accounting functions to include complete accounting solutions that are unique to each client’s specific needs. CAS engagements typically include accounts payable and accounts receivable processing, payroll processing, financial reporting, budgeting and forecasting, tax planning, financial analysis, strategic planning, and technology integration.

Among the many benefits for organizations using CAS for their long-term accounting solutions are:

A Customized Solution: Every organization has a unique set of goals, aspirations and financial requirements. CAS engagements are tailored to accommodate what an organization needs, when they need it, and how they will be used – whether it be for planning, reporting, or compliance. By having a CAS partner, organizations can explore questions specific to their business with experts who can provide knowledgeable answers and relevant suggestions. Many CAS engagements grow and change as an organization grows and changes.

Improved Financial Management: Organizations using CAS have access to a team of professionals dedicated to their needs and with the detailed knowledge to understand and guide their financial position, requirements, and opportunities. This brings stability and skill to an internal accounting department; with more timely and accurate financial information, an organization can make better informed decisions.

Focus on Core Competencies: By offloading the accounting function through CAS, organizations will be better able to focus on their core competencies, resulting in a clearer strategic vision and increased productivity. Leaders can regain their focus on running their entire business, not an accounting department.

Scalability: Firms providing CAS are able to scale up or down according to an organization’s growth. This flexibility helps organizations easily adapt to changing market conditions without having to worry about accounting staffing.

Access to technology: CAS providers use the latest financial and accounting technology. Leveraging these features improves an organization’s efficiency, accuracy, and data security. It also increases internal controls and financial reporting and analysis.

Compliance: High quality CAS providers bring their firm’s full skills and insight to their work with organizations. They lean on their firm’s audit and tax departments to stay up to date on the latest accounting standards, changes in law, and best practices. This helps organizations stay in compliance while mitigating risk.

Enhanced Reporting and Analysis: Some clients only need basic reports, such as a balance sheet and P&L. Many clients request additional statements and analysis for understanding their business operations and strategic positioning. CAS provides extensive and customizable financial reporting, no matter what a client requires.

Cost Savings: CAS firms work with organizations of all sizes, customizing their services to align with varying needs and budgets. These arrangements are often more cost effective than hiring and training in-house staff, and they reduce the implications of employee turnover.

Dembo Jones provides CAS services to not-for-profits of all sizes. If you’re interested in exploring how CAS services can enhance your business, get in touch with us today.