CPA

Why outsourcing is a must-do for CPA firms?

Posted on 05/03/2022

CPA services for small businesses, CPA firms are comprised of auditors who conduct both public and private audit engagements, In today’s competitive world, outsourcing your CPA firm’s bookkeeping is one of the wisest choices to stay ahead of the competition by focusing on your core business. If you would like to stay ahead of your competitors consistently then you need to offer more values than anybody does. With bookkeeping in your hands, you will have time to focus only on mundane CPA services for small businesses.  This is because bookkeeping demands greater attention and can be a lengthy process.

CPA firm outsourced services

Essentially CPA firms should concentrate on bringing new clients and profits to their business. This requires more energy, effort, and time to be invested in the complex and core areas of the clients. Certain things like planning clients’ taxes, investment planning, wealth planning, and working on strategies to increase the profitability of the client can go a long way to give you a competitive advantage. On outsourcing your bookkeeping activities, you can focus more on providing your clients with these added values for a low or almost no price.

Below are some of the benefits of outsourcing your CPA firms:

  1. Leveraging skilled and efficient accountants at a much-reduced cost. These resources can be billed at much higher rates
  2. No time wasted on hiring and training accountants, according to your needs
  3. Leveraging state-of-the-art technology and infrastructure without having to invest in them
  4. Decreased visits to the clients and travel time, thus increasing the realization rates
  5. No independence is impaired. You can still check the progress of your records online. Online access can be set up using third-party service providers if your outsourcing partner is not able to provide you with online access
  6. No need to suffer downtime as your outsourcing partner will take care of it
  7. Enjoy faster turnaround time and check your files at any point in time
  8. Stay ahead of the competition, plus benefit from colossal savings up to 50%
  9. Get benefited from the stringent QC policies from your outsourced partner to provide seamless services to your clients.

Bear these “things to look for in an outsourced partner” in mind while choosing your partner:

  1. Knowledge and skills of the top management team
  2. Quality procedures and policies followed
  3. Strength of the service provider financially
  4. Length of time of their presence in the business
  5. Years of experience and level of skill of the staff
  6. Check if you will be working with the same person/ team throughout
  7. Reliability and Scalability
  8. Check if they provide online support

CPA Services For Small Business, If you are in agreement with the above-stated facts and in need of a reliable partner, here we are to help. Call at +1-860-215-4997 or visit our website www.velan-bookkeeping.com for more details.

Topics: CPA


Top 5 CPA Accounting Strategies Trending in 2022

Posted on 03/02/2022

Financial gurus predict a sea change in the way the accounting process is going to evolve this year, 2018. Gone are the days when bookkeeping and financial accounting were done manually. Presently, we are heading into a total transformation where automation, CPA Bookkeeping Services, and cloud accounting are endorsed globally by the business community and corporate houses.

CPA Accounting firms 2022

While small business houses, bookkeepers, and CPA accounting firms avail the support of CPA bookkeeping services by outsourcing their work significantly, let us look at the top 5 most trending accounting methods this year.

1. Automation

Automation in accounting is a boon to small and large businesses. The automation process has slowly replaced manpower in accounting during 2017.  Manual accounting is gradually phasing out and industries are opting for automation because it saves a great amount of time and is very cost-effective. Accountants of CPA firms and bookkeepers can focus on other crucial accounting issues as the day to day accounting operation works hassle-free.

2. Cloud accounting

Cloud accounting software is user-friendly and flexible as it can be accessed from anywhere. Financial information gets updated automatically providing real-time reports, making it easier for businesses to take quick decisions on various issues. Cloud software keeps accountants and business owners well connected.

3. Social Media for accounting firms and CPAs

Business houses are using the social media platform to increase brand presence for their online business strategies. The idea is to reach out to a global audience, which has the advantage of accounting companies is increasing website traffic at very little or no cost.

4. Collaborative Accounting

The term may sound new because it involves accountants communicating with clients using the internet and state-of-the-art technology irrespective of their location. Sometimes, accounting transactions are monitored by an Accounting back office to a business house on the other side of the world. Communication with clients and business partners, coming up with solutions and strategies is simplified.

5. Outsourcing

Outsourcing financial and accounting services are gaining popularity in recent times, especially in the last couple of years. The Accounts department will have more time on hand to develop other pressing business issues that need immediate attention. In addition to that, the following advantages keep them on the popularity list.

  • Ample time to focus on core business and growth
  • Resource scalability
  • Complete support from an Expert accounting team
  • Manage realtime Financials
  • Major cut-down on cost

When we look at all the above methods of accounting it is obvious that the benefits of Accounting outsourcing for businesses and industries are numerous, irrespective of their size and domain. Outsourcing your accounting operations to expert accountants will be a great relief and ensures a smoother business model, not to forget the reduction of overheads.

Team Velan Bookkeeping offers reliable and speedy outsourced accounting services to CPA firms, bookkeepers and small businesses at a global level. Reliable accountants with expertise  are ready to take care of all your accounting needs. When you are considering outsourcing accounting, go to www.velan-bookkeeping.com for the best deal!

Topics: CPA


How can outsourcing CPA Accounting Firms Step-up Revenue Post-tax Season

Posted on 19/01/2022

Certified public accountant (CPA) and Bookkeeping services for Accounting Professional Clients in the USA. Outsourced CPA Accounting Firms help clients with a wide array of services.

Outsource CPA accounting and bookkeeping services firms must be breathing a sigh of relief post-tax season, after a hectic tax filing this year. However, successful firms don’t just stop with a January to April alliance with their clients but continue to do business with them throughout the year.

In this article, you can find out how a CPA firm’s bookkeeping services can gain revenue effectively post-tax season.

5 Remarkable Moves for CPA Firms to Step-up Revenue Post-tax Season

1. Extend consultations to existing clients with CPA and bookkeeping services

A little twist to an old saying goes, “Make new clients, but keep the old, one is silver, the other is gold!” Client retention is the key to building steady revenue. It is cost-effective to extend new services to existing customers rather than spend money on acquiring new customers.

Clients who approach you for tax filing consultation may have issues in financial accounting too. The IRS Oversight Board says, about 60 million taxpayers, constituting 37% of the total filers for income tax, contact the IRS for various reasons. Clients will come back to you when they receive a notice or email from the IRS. So, it is important to stay connected with them and offer your extended Bookkeeping Services. You can then charge them on an hourly basis for expert support, whenever necessary.

2. Extend advisory services and asset management services

Individuals opting for services of tax filing may not necessarily return for other accounting and financial services. Therefore, encourage clients to communicate with you and connect with you whenever they have questions or issues at hand. Communication through emails, postcards, and newsletters is a popular way of staying in touch with your clients.

3. Make the customer experience a priority

Generally, customer retention and customer service are not the core focus of accounting firms. It is the customer experience that needs more focus. When your satisfied customers have a pleasant experience in resolving their issues, they automatically spread the word around. Such referrals are bound to bring you more customers. Hence, don’t forget to request regular feedback from your clients to improve and enhance your customer service.

4. Extend other accounting servicesPayroll, Remote bookkeeping, and Bank Reconciliation

You can offer your clients of Outsourced CPA bookkeeping services with additional services such as payroll, bank reconciliations, and bookkeeping for CPA. For this, the clients must also trust you enough to try other services.

When it comes to hiring experienced staff and new infrastructure, you can always contact us for complete dedication and delivery on time of various bookkeeping services.

5. Extend professionalism

You can develop a strong bond with your clients by being proactive and understanding their inherent financial situation. Therefore, build a niche for your firm by providing services to a target group. Clients like to approach, skilled accountants in their specific field of business. Hence, it is important to stay updated constantly on changes in regulations and policies announced by the Government.

Thus, extending bookkeeping services to existing clients would help you gain business all throughout the year. You will invariably be hiring more accountants for your firm. A better option would be to outsource your work to specialists. Look for accounting professionals who are imbibed with qualities to be updated, consistent, and compliant. Contact us today and we would be pleased to share our expertise in bookkeeping services. We would be happy to work with you.

Topics: CPA