Client Accounting Services

Client Accounting Services (CAS) in Portland OR

Simply defined, Client Accounting Services are Services offered by CPA firms to their clients to help them manage their finance and accounting functions. While the services offered within a Client Accounting Services practice vary, they generally fall into three categories:

  • 1. After-the-fact financial statement preparation,
  • 2. Transaction processing, and
  • 3. CFO/Controller services.

However, it is not uncommon for business owners to question what CAS truly means when they already perform the services listed below:

  • Write-ups or after-the-fact statement preparation
  • Transaction processing, bill payment, processing of AP, AR, and Accounting
  • Payroll and its compliance
  • Periodic tax payments and compliance (sales tax, income tax, etc.)
  • Controller and/or outsourced CFO services (ongoing, more complex services)

While these stand-alone services generally make up CAS, the true essence of client accounting services goes more in-depth.

The True Objective of CAS

CAS services are highly personalized to your specific business and management needs, to serve you best and increase the value of your business and help grow it to the next level.

The best CAS service engagements handle a wide range of tasks necessary in running an efficient business, including managing receivables, payables, payroll, cash flow, taxation (sales tax/income tax/ payroll tax/tax planning), banking, trial balance, periodic regulatory compliance, and financial statements. This practice results in a more effective collaboration, advanced processes that efficiently transfer information between your business and Perpetual CPA accounting team, and results in a truly integrated accounting department for your business.

Your Perpetual CPA full-charge accountant handles all your daily accounting needs and the day-to-day communications with you. He or she will get to know you, your staff, and your business well, so that we are truly able to work as part of your team. Your accountant will work with you to process invoices and statements, accounts payable, cash receipts and disbursements, and payroll, as well as prepare bank reconciliations and recurring reports. Your accountant will be in contact with you by email, phone, or Instant Messenger with any questions or concerns.

Our Outsourced Accounting Services Include:

Perpetual CPA Technology Solutions Bundle:

All Perpetual CPA Outsourced Accounting Clients are provided with access to our turn-key Technology Solutions Bundle. This allows us to provide you with access to the software and technology solutions we will use to work together, so that you have access to your information at your convenience. As part of our implementation process, we will set up a Management Dashboard, a financial reporting data file and other software solutions for you, so that we will be able to jump right in to working with you and sharing information.

Bookkeeping/Accounting Functions Performed Periodically (based on your agreement):

  • Record Vendor Invoices in Bill.com or an alternative application
  • Assign Appropriate Perpetual CPA and Client Approvers for Each Invoice
  • Reconcile Vendor Statements
  • Record Vendor, Debit Card Transactions, PayPal & EFT Payments
  • Record Purchase Orders (PO) Prepared by Client
  • Process Manual Checks Issued as needed for Emergencies
  • Record Sales Invoices
  • Email/Mail Customer Invoices and Statements
  • Record Customer Payments
  • Track Customer Under or Over Payments

Bookkeeping/Accounting Functions Performed Periodically (based on your agreement):

  • Set Up Online Bill Payments as Vendor Payments are Approved by the Client in Bill.com or an alternative application
  • Record Individual Credit Card Purchase Transactions
  • Weekly Accounts Payable Aging Report
  • Weekly Accounts Receivable Aging Report
  • Weekly “To Be Coded” and “Backup Needed” Reports
  • Process and/or Record Payroll
  • Break Out Payroll/Payroll fees/ Payroll Taxes

Bookkeeping/Accounting Functions Performed Periodically (based on your agreement):

  • Prepare Bank Account Reconciliation(s)
  • Prepare Credit Card Reconciliation(s)
  • Reconcile Additional Balance Sheet Accounts

Monthly Reporting:

  • Balance Sheet
  • Profit and Loss Statement – Month
  • Profit and Loss Statement – Year-to-Date
  • Accounts Receivable Aging
  • Accounts Payable Aging
  • General Ledger
  • Bank Reconciliation Report(s)
  • Credit Card Reconciliation Report(s)
  • 2 Custom Reports (the initial setup of these reports may require a separate agreement)

Additional Services:

Monthly or Quarterly Telephone/Video Consultation to review financials and discuss strategic planning opportunities.

Getting Your Information to Us:

We make getting your documents to us easy by offering a secure Online Client portal. Each new client receives an invitation two Perpetual CPA secure client portal. Our portal not only improves our data security but also brings communication, file sharing, electronic signatures, and storage together in one, convenient place; allowing you to work on the go.

Our Client Portal Mobile App gives you the freedom to work with us on the go, from anywhere, at any time. We will meet you virtually wherever you are through the Portal Mobile App or your web browser. The Mobile App also lets clients scan documents with their mobile devices and upload the documents securely straight to the client portal account.

Accounts Receivable:

Get your invoices out promptly and send monthly statements on the date of your choice. Based on the information you provide to us during each customer/client billing cycle (or information regarding automatic recurring charges), Perpetual CPA prepares your sales invoice. We email you the final invoice for approval. Invoices can then be sent to the recipient via email or U.S. mail.

Accounts Payable:

Perpetual CPA generally uses Bill.com for Accounts Payable Processing and Vendor Document Management, although, depending on specific client situation, and alternative application may be used. As we receive new vendor bills in your Bill.com Inbox, we will enter the bills for your review and approval. If you have a question about a bill or for any reason opt not to approve it, Bill.com includes an easy “deny” option that routes the bill right back to us along with your question or the reason for the denial. We will address any questions with you, make any adjustments that you request, or void the bill if it is not valid for payment.

Cash Receipts:

Prior to taking deposits to the bank, scan or copy the deposit slip and each of the items to be deposited. Then include the copy or forward the scan to your Online Client Portal account along with your other documents for processing. Your Perpetual CPA accountant will post the customer payments against the appropriate customer invoices and record the bank deposit.

Payroll Processing:

Your Perpetual CPA accountant makes the necessary entries to record payroll processed by a third-party provider. We will work with you to decide what option best suits your needs. In any case, payroll entries will include complete recording of gross wages, employer taxes and other payroll expenses, and payroll liabilities, and quarterly and annual reconciliation of general ledger balances to payroll returns. You are simply asked to ensure that funds are available in the account from which payroll will be drafted. See more information about this under Banking Activities.

Perpetual CPA can advise on a variety of payroll processing options to suit the needs of your business.

Banking Activities:

During our implementation process with you, and on an ongoing basis, we will ask you to provide us with access to view and download bank and credit card transaction history and statements. Your accountant will not have the authority to sign checks or to initiate electronic payments that have not been pre-approved by you or a designated staff member in Bill.com.

Bank account activity is updated daily or weekly in your accounting file in QuickBooks Online, based on our agreement with you, so that you always know your available cash balance. Transactions that appear in your bank or credit card account that the accountant has no knowledge of will be posted, but the accountant will inform you of these transactions and request supporting information from you by providing you with weekly “To Be Coded” and “Backup Needed” items in the “Ask Sheet” reports.

Banking, credit card, and loan accounts are reconciled to the corresponding statements each month, and the reconciliation reports are posted to your portal account along with the other agreed upon management reports.

Our Fees:

We will determine the specific service fee structure that is appropriate for your business during our initial consultation(s). We are experts at what we do, and we specialize in finding ways to streamline business processes and procedures. Our clients generally find that the cost of our services is less expensive than hiring an employee to provide the same level and quality of work. In addition, we take the burden of ongoing management and supervision off of your plate, so that you can focus on growing your business. What is the value of your time? Priceless!

As a general guideline, our Outsourced Accounting Services start at low hundreds $ per month for our growing clients, and generally range up to a few thousand $ per month for clients with more complex needs (higher volume, multi-currency, multiple entity, etc.) who request our full range of Outsourced Accounting and Controller Services with daily processing needs. Our clients generally find that we help to increase their profits and improve their internal efficiencies significantly. It is our goal to pay for ourselves many times over as a result of your investment in our services. Our clients also love the turn-key access to our technology solutions!

All clients incur a one-time initial set-up fee that includes our initial analysis of the processes being used to handle your accounting and related tasks today, our documented solution strategy showing you the workflow we will implement with you to streamline your processes and improve your ability to get the information you need to make informed decisions. We also create an internal procedures manual that details each step in your accounting and related internal processes. A copy of this manual will be provided to you. The setup of your accounting and integrated software solutions is also included in this fee. This one-time fee will generally be between $450 and $3,000, based on our discussions with you and the scope of services to be provided.

Business Filings:

Your ongoing business filing such as sales tax, business license tax, personal property tax, and various industry specific tax filings can also be completed by Perpetual CPA in order to ensure ongoing reconciliation among all of your core tax and business matters.

Advisory / Controllership / Virtual CFO Services are More Effective with CAS

Outsourced Virtual CFO services and higher-end advisement and analytics services are more successful when they come out of CAS. Integrated CAS services allow us to timely provide custom analytics, KPI dashboarding, budgeting, forecasting, and be able to provide you strategic CFO-level guidance with the ongoing business maintenance, growth, operational, and transactional considerations and decisions.

At Perpetual CPA, we operate based on two maxims:

1. Always strive to provide high-quality professional services and deliverables to our clients.

2. Always strive to provide more value to our clients than they pay for.

Lastly, Perpetual CPA CAS engagements are delivered in accordance with the AICPA Statement on Standards for Consulting Services.

If you are looking for client accounting services, contact Perpetual CPA today at (503)217-4114!

Located in Portland, Oregon, we are a full-service CPA firm working with clients nationwide. We offer a wide variety of services catered to assisting business owners, executives, and independent professionals from all over the country. You can trust our qualified and experienced team to handle your business affordably and efficiently every time. Call us today!

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frequently asked questions

  • What Is A Virtual CFO & How Can It Transform My Business?
    • a. A Virtual CFO can be a much-needed sounding board, coach, and guide. Outsourced Virtual CFO is generally not just one person, but an experienced team of professionals providing a full-stack Accounting and Finance Department at a fraction of the cost that it would otherwise cost a business to hire even just one full-time CFO internally. The right virtual CFO service team, such as the one at Perpetual CPA, can deliver timely, detailed, comprehensive financial reporting, interpret the financial data, prioritize recommendations, give expert guidance on how to execute those recommendations, and ultimately give a better path to business success.
  • How can a Virtual Accounting Department help small businesses scale and grow?
    • a. A growing number of small businesses are opting to outsource services such as IT, human resources, or accounting. The benefit of a Virtual Accounting Department is that the company can reduce or increase services to accommodate current business needs. Because the service provider has multiple clients they can absorb fluctuations in workflow more easily than the average small/medium business can on its own.

      b. A Virtual Accounting Department can integrate with a company’s own accounting department to create a blended solution or provide a full-stack accounting department, including Accounting Staff, Manager, Controller, and Virtual CFO. By using a Virtual Accounting Department Small business owners don’t have to worry about hiring, training, figuring out compensation, and payroll compliance for the internal accounting team. Also as the business grows and new and more complex accounting and tax issues come up, the outsourced Virtual Accounting Department can provide all the needed expertise to facilitate continued business success.
  • What are the benefits of hiring a CPA firm?
    • a. Certified Public Accountants (CPAs) do a lot more than just crunch numbers and prepare taxes. They provide valuable expertise and strategies to help businesses and individuals achieve their business and financial goals. A CPA firm can help small businesses with management financial reporting, tax compliance, strategic business advice, and much more. Firms like Perpetual CPA, that specialize in helping small and medium-sized businesses achieve growth, can also provide Virtual CFO services, that help the business owners have the foresight into the short-term future cashflows and be able to more successfully navigate their business performance.
  • What are the best strategies for small business growth?
    • a. A business growth strategy is, simply, a plan of how a business gets from where it is today to where it wants to be in the future.

      b. Some of the questions to consider when coming up with a growth strategy are:
      i. Where will the business get new customers from?
      ii. How will the business expand into new markets?
      iii. What new products could the business offer?

      c. In reality, what happens with many small businesses, is that they generally achieve a specific level of business activity or sales and then the business growth trend flattens. In those cases, working with a firm like Perpetual CPA, which provides Virtual CFO services, can help small businesses avoid stagnation. Virtual CFO services, aside from providing timely accounting and tax reporting, can also provide valuable insight into the current performance of the business, as well as, foresight into the future cash flows for the business. Perpetual CPA Virtual CFO team helps small businesses interpret their financial information and come up with business strategies to help improve business performance and achieve growth.
  • What are the best strategies for small business risk management?
    • a. A risk management plan helps a business develop a detailed strategy to deal with certain risks that are particularly important for the businesses’ success.

      b. For many small and medium-sized businesses, the easiest way to develop and implement a business risk management plan is to work with a reputable CPA firm, such as Perpetual CPA. Large corporations invest a lot of resources and time into managing risk, which is a material factor that allows those large corporations to continue to generate billions of dollars in revenue every year. Small businesses, however, almost never manage any business risks, which is the major reason that over half of all the small businesses do not survive for more than 5 years. Generally, small business owners are not experienced corporate business professionals and lack the needed business knowledge, yet they often have to wear many hats while trying to get their businesses off the ground. In those situations, a CPA firm such as Perpetual CPA, can help small businesses better manage tax compliance risks, cash flow, internal controls, business administration, financial reporting, and much more.
  • What is Strategic Advisory and Virtual CFO? / How do Strategic Advisory and Virtual CFO services work?
    • a. When small businesses start spinning wheels, it is a good time to consider hiring a reputable CPA firm, such as Perpetual CPA, which can provide both Strategic Advice and Virtual CFO services.

      b. As a strategic advisor, the CPA firm will work with business management to improve the effectiveness and profitability of the business. They will look holistically at the business and find ways to operate the business more efficiently, increase customers through additional or improved marketing or improve customer touchpoints and service.

      c. As a Virtual CFO, the CPA firm is like a part-time version of a traditional CFO or Chief Financial Officer plus a full Accounting support team. They perform the tasks that in a larger organization would be performed by the CFO, Controller, and Accounting Staff such as preparing and overseeing the budget process, identifying and analyzing current and future trends, and developing strategies for the business growth.
  • How can timely financial visibility and management reporting help with better business decisions and growth?
    • a. A simple way to a successful business is to prioritize the timely financial visibility and management reporting as it means:
      i. Timely financial information and analysis are essential for making informed decisions, evaluating your company’s results, improving financial performance, and ensuring you are on the path to meet your strategic goals.
      ii. Management reporting is a source of business intelligence that helps business leaders make more accurate, data-driven decisions. But, these reports are most useful if they are available timely and the management receives proper interpretation of the business financial information.

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