When properly executed, Client Accounting Services (CAS) can lay the groundwork for smooth, seamless tax preparation. However, if CAS and Tax teams are not able to collaborate and align on projects, efficiency and profitability suffer — and so does the client experience.
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Have there been discussions in the firm about adding Client Accounting Services (CAS) to its offerings, with only lukewarm interest from senior management and partners? Is your existing CAS group running into a lack of support?
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What if there was a way to take the clients that cause the most substantial amount of tax season workload compression, and turn that into streamlined, recurring revenue for the firm?
The best part about that strategy is that every firm already has an existing client pool to capitalize on. These are not clients with pristine books. No, these clients send over files at the end of the year with missing data, or drop off boxes of receipts, invoices, and who knows what else, and it becomes the firm's responsibility to sort through the irrelevant, analyze the data, and prepare the return. Then, after receiving their return (and paying the bill), the client disappears – only to repeat the cycle next year.