Managing your finances is arguably the most important aspect of running any business. The delicate balance of expenses versus revenue, and keeping a positive cash flow, can be particularly difficult to maintain. There is no doubt that having meticulous accounting records aids in a business’s ability to make smart financial choices and informed decisions. In order to help businesses manage their finances more efficiently, client accounting services (CAS) are services offered by accounting firms to make that happen. Cooper Norman offers client accounting services that can help businesses focus on their internal operations while ensuring that their financial operations are being handled and maximized by the experts.

Six Main CAS Services

While there are many services that client accounting services address, there are six main services that encompass a variety of different functions. 

1. Bookkeeping Services

There are many business transactions that are made on a daily basis. An accounting firm aids in clients’ financial recordings to accurately document each transaction being made. This service will include functions such as recording everything from purchases and sales – to receipts and payments. 

2. Payroll Accounting Services

Each business has its own employment laws and ways to handle their payroll processing. Payroll accounting services can handle those payroll processes while also ensuring that you meet all the standards and compliance requirements for the employment laws in your industry. Payroll accounting also includes tax withholding services as well. 

3. Financial Statement Reporting

A business’s financial situation and overall financial health can be best understood when it is organized and summarized. Your accountant will organize, prepare, and present all of your financial statements in a way that is efficient for your understanding. This will aid in your informed decision-making process when it comes to your business’s finances. The reporting service will include aspects such as preparing cash flow statements, income statements, and balance sheets.

4. Accounts Payable and Receivable

Any outgoing payments or expenses can be managed through the CAS. Processing invoices and managing your cash flow falls under the service of accounts payable. Accounts receivable is a service that incorporates the collection and creation of invoices as well as managing any incoming payments. This service is offered all in an effort to make sure that your cash flow is being positively maintained throughout your business. 

5. Budgeting Services

Developing and maintaining an effective budget allows your business to help plan for revenue and expenses heading into the future. Professional accountants can help to craft strategic and efficient budgets so that you can ensure you are maximizing your financial plans by leaning on their financial guidance.

6. Consulting and Advisory Services

Business advisory support can also be found within client accounting services. When it comes to tax strategies, financial planning, and business growth, professional accountants can give their clients expert financial guidance to help stabilize and grow their businesses. This strategic advice will help you navigate the financial challenges of your industry, assist you in making informed decisions, and lead your business toward growth and success. 

Cooper Norman’s Client Accounting Services (CAS)

Cooper Norman is your next strategic partner for business success! Along with these six main CAS services, the accountants at Cooper Norman can assist your business with any accounting needs you may have. With unmatched knowledge of accounting strategies and services across various different industries, Cooper Norman is ready to dive right in and help your company to be prepared, organized, and effective throughout the business world. Contact us for a full list of our services and any questions on how to get started with us today!