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client accounting services

why firms shy away from cas

portrait of a cheerful businessman smiling at the cameraif you’re hesitating, consider these solutions.

by hitendra patil
client accounting services: the definitive success guide

why fall into the same trap that other firms have fallen into during their client accounting services journey? if you know what those traps are, you will save significant money and time in establishing your cas practice.

more: how to tell who fits cas | cas is an upgrade pitch | why you can be a virtual cfo | clients’ new expectations | what cas is and isn’t
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

fortunately, the 卡塔尔世界杯常规比赛时间 cas survey identified which are the top five cas killers, for firms of different sizes, that the accounting profession has experienced.
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client accounting services

how to tell who fits cas

//www.g005e.com/2020/10/09/how-to-develop-the-cas-mindset/then give your pricing “why.”

by hitendra patil
client accounting services: the definitive success guide

will your existing clients or prospects buy higher-priced and more services from you? if you ask them to, will they feel put off? if you do not ask, will you leave real money on the table? if you do not tell them about more services your firm is capable of providing, will they switch to another accounting firm simply because they were not aware of your other services?

more: cas is an upgrade pitch | hook your firm on cas | can you identify real cas prospects? | 8 ways to create your cas practice | do you value your cas value?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

pitching relevant services to clients and prospects is nearly a fine art. it is fraught with the risk of coming across as is you have only your own interest in mind. at the same time, clients and prospects may not even know that you offer such services or that they need those services. you can lose such opportunities even before you explore those with your clients/prospects.
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client accounting services

cas is an upgrade pitch

two businesspeople meeting over coffeetell clients what they will lose if they decline.

by hitendra patil
client accounting services: the definitive success guide

when you pitch client accounting services to your existing clients and new prospects, your communication and messaging changes quite a lot. it is no more packages, hourly rates and standard deliverables mentioned on your website, in your emails, engagement letters and sales brochures/materials.

more: hook your firm on cas | cut cost by three quarters with cas? yes, please | client wants vs. needs | the big money in cas for small firms | the mindset you need for client accounting services
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

cas is not a sales pitch to your existing clients. it is a value pitch, an upgrade pitch.
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client accounting services

hook your firm on cas

three happy businesspeople looking at laptopdon’t just introduce, reinforce.

by hitendra patil
client accounting services: the definitive success guide

unless you become the “cas champion” or make someone accountable to be one, your client accounting services practice will not take off the starting blocks.

more: cut cost by three quarters with cas? yes, please | why you can be a virtual cfo | clients’ new expectations | what cas is and isn’t
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

and the single biggest initial challenge for the cas champ is how to communicate the value of cas to the firm’s future fortune to every stakeholder – be it partners, staff, clients and prospects. for this post, i will assume that your cas champ absolutely “gets it.”
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client accounting services

cut cost by three quarters with cas? yes, please

it’s not just about the cloud.

by hitendra patil
client accounting services: the definitive success guide

in the desktop days, write-up, bookkeeping and accounting processes were perceived more as “data-entry” work. the price clients were willing to pay for data entry put so much pressure on fees that many firms found it is not worth the hassle.

more: why you can be a virtual cfo | can you identify real cas prospects? | 8 ways to create your cas practice | do you value your cas value?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

other services such as tax preparation, financial statements preparation, etc. brought in higher per-hour dollars than write-up, bookkeeping and accounting work could. such work got more and more “outsourced” by accounting firms to bookkeeping firms, freelancer bookkeepers and “processing” firms operated by non-cpas/non-accountants.
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client accounting services

why you can be a virtual cfo

accountants are perfectly positioned.

by hitendra patil
client accounting services: the definitive success guide

tom, a cpa, has always been a curious person. for over 15 years, his tax “practice” was doing well. during the tax season, he had no time to think. but, oblivious to himself, with each tax return, he was depositing new questions in his subconscious.

more: can you identify real cas prospects? | client wants vs. needs | the big money in cas for small firms | the mindset you need for client accounting services
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

he is now a shared cfo of 12 companies. but he took up the cfo work accidentally.
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client accounting services

can you identify real cas prospects?

number 10ten ways to spot who’s ready.

by hitendra patil
client accounting services: the definitive success guide

experience of those offering successful client accounting services shows that the fastest way to start your cas practice is to provide it to some of your existing clients. if you already have a cas practice, it is important to periodically analyze which of your clients have become a good fit for cas. it is important to note that not all of your clients will be good fits for cas.

more: client wants vs. needs | clients’ new expectations | 8 ways to create your cas practice | the big money in cas for small firms | what cas is and isn’t | do you value your cas value? | the mindset you need for client accounting services
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

there are some easy ways to identify which of your existing clients are cas-fit, i.e., which of your clients will benefit the most from your cas offering. and then there are some not-so-easy ways to know which are your cas-fit clients.
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client accounting services

client wants vs. needs

woman driving a sports carhow cas fills both.

by hitendra patil
client accounting services: the definitive success guide

what some clients feel is an absolute need, other clients may feel it is not. people may need to book an uber or lyft ride, but some of them may want a premium ride.

more: clients’ new expectations | 8 ways to create your cas practice | the big money in cas for small firms | what cas is and isn’t | do you value your cas value? | the mindset you need for client accounting services
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

some of your client accounting services will be the premium ride your clients will want. for some clients, your premium services will be the need. (you want such clients.)
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featured

better ways to attract and retain talent

new staffing strategies for the next-generation accounting firm

by hitendra patil
client accounting services: the definitive success guide

topmost thought leader ronald j. baker said, “the world bank reports that 80 percent of the developed world’s wealth resides in human capital, illustrating that we’ve been in a knowledge economy since the 1950s. yet most accounting firms are utilizing a business model developed during the industrial era, with a relentless focus on efficiency and a ‘we sell time’ mentality.”

more: clients have higher expectations | 8 ways to create your cas practice | the big money in cas for small firms | what cas is and isn’t | do you value your cas value? | the mindset you need for client accounting services
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in his succinct and soul-searching praise for “accountaneur: the entrepreneurial accountant,” baker urged, “from changing your business model to focusing on developing your firm’s human capital, and more – will keep your firm relevant as we encounter an increasingly turbulent and changing marketplace.”
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client accounting services

clients’ new expectations

businessman pressing virtual "automation" buttonthey see what can be automated.

by hitendra patil
client accounting services: the definitive success guide

we know that cas generally constitutes three key service segments:

  • after-the-fact financial statement preparation, i.e., “write-up,”
  • business transaction processing and
  • outsourced cfo and controller services.

more: 8 ways to create your cas practice | the big money in cas for small firms | what cas is and isn’t | do you value your cas value? | the mindset you need for client accounting services
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

tax planning/tax strategy services may also become part of your cas offering if you have interest/expertise in that segment.
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client accounting services

8 ways to create your cas practice

here’s the how.

by hitendra patil
client accounting services: the definitive success guide

whether you are thinking of offering client accounting services, have already started offering it, or you want to grow your cas practice or make it more profitable, some proven steps will make your cas practice shape up in the most optimized way. if you have already started offering cas, these are the steps that you will revisit from time to time.

more: the big money in cas for small firms | what cas is and isn’t | do you value your cas value? | the mindset you need for client accounting services
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

there are eight steps to get started in cas and make your cas practice better. the following details are just a bird’s-eye view of the important aspects of how to create your cas practice. read more →

client accounting services

the big money in cas for small firms

businessman ogling money over another's shoulderyou should see more investment and more referrals.

by hitendra patil
client accounting services: the definitive success guide

the cloud makes it possible – no, it makes it inevitable – for smart business owners to focus on their core business and let professional accountants take care of accounting, including transactional work (to be done accurately).

more: what cas is and isn’t | do you value your cas value? | the mindset you need for client accounting services
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this new possibility gives rise to cas opportunities for accountants to work in collaboration with business owners in real-time.

cas is one of the fastest-growing new revenue segments of many top 100 firms, but perhaps the even bigger cas opportunity is more relevant and more available to smaller accounting firms.

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client accounting services

what cas is and isn’t

businessman looking at question mark sketch on the wallthe clients buy more services and are “stickier.”

by hitendra patil
client accounting services: the definitive success guide

client accounting services (cas) is the new revenue segment you cannot afford to miss.

if you are an accounting firm owner/partner, you do not want to miss the emerging, growing, and profitable opportunities in client accounting services.

more: do you value your cas value? | the mindset you need for client accounting services
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

before we get to why, to ensure that we are on the same page, let us agree on a description of what cas is.

how is cas different than what i am doing now?

in a brief survey that i conducted, one of the most common questions i received from accountants (from firms of nearly all sizes) was, “how is cas different than what i am doing now?”
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