The ABCs of CAS

Client Accounting Services (CAS) is one of the fastest-growing outsourced services available to small and growing businesses. CAS allows business leaders to focus on their goals, while significantly reducing the time, cost and resources needed to identify, hire and RETAIN experienced individuals. These skilled individuals help critical management decision makers by efficiently and accurately maintaining a business' financial records and reports.

So, what exactly is CAS? Traditionally, accountants focus on the review of financial records from a historical perspective. This includes validating that financials from a prior period are accurate and reconciled to supporting documentation, reviewing past financial trends, and ensuring the business' books and records are in order. These are the best methods for preparation of the business' tax returns. Most of this work focuses on after-the-fact financial statement preparation. CASworks in real-time and includes transaction processing, bill payment, processing of accounts receivables and payables, and payroll management, including employee onboarding. While these services are considered daily, mandatory functions, CAS looks forward by implementing and maintaining budgets and cash flow management. In essence, CAS saves business owners time and effort, allowing them to focus on accomplishing key strategic goals.

Consider this - the cost of human resources filling an in-house accounting position is significantly higher than the base salary offered. By including employee benefits, employer taxes, and incentive bonuses, the cost of an in-house position may be more than double the base compensation. This is an example of how CAS reduces cost.

CAS' technology use is key to implementing procedures for achieving efficiencies in a business' accounting and finance function. A group of cloud-based interlaced programs - or a technology stack - typically consists of accounting programs such as QuickBooks Online, Sage Intacct, and Xero, along with supporting add-on programs, e.g., Bill.com, Expensify, and Gusto. These programs take advantage of the three hard-trend accelerators of processing power, storage and bandwidth. Businesses need to invest and maintain in technology to optimize these services.

CAS also makes accounting easier. The majority of businesses that implement CAS reap the benefits of best practices and processes that have made their accounting simpler and more efficient. Since CAS works best as a cloud-based service, business owners have more mobility in accessing real-time data. Owners also significantly benefit more on advice from outsourced accountants than their in-house accountant. By employing CAS, businesses are able use its tools to focus on growing their business.

Pease CPAs' CAS team provides interim, full-time, or accounting and finance support to innovative, growing and upscaling businesses. "Fractional refers to interim, part-time, or a contract arrangement. Our mission is to deliver timely, accurate and relevant financial information that reinforces your organization's strategic financial plan. Simply put, our CAS team represents one of the critical arms of your company's organizational chart.