Client Accounting Services: The Definitive Guide

There are challenges, but also great opportunities.

Client Accounting Services:
Challenges and Opportunities
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With this post, CPA Trendlines is launching a new series of articles and an expansion of our coverage into client accounting services, the fast-growing, but still much-misunderstood growth opportunity. With a special mix of technology savvy and visionary insight, Hitendra Patil, the best-selling author of Accountaneur for CPA Trendlines, is uniquely positioned to tackle the tough questions, and to unearth the best solutions.  We look forward to hearing from you – your experiences, opinions, questions, comments, ideas and suggestions. – Rick Telberg, editor and publisher

By Hitendra Patil

Client Accounting Services is becoming an increasingly important new revenue and growth segment for accounting firms of all sizes. Yet, professionals are still grasping for the best practices, adjusting service bundles, searching for the right technologies, and optimizing prices.

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CAS is, first, a mindset. It exists in every professional accountant. Some know it exists in them. Some don’t. Some know that the CAS mindset exists in them but do not make the most of it. Instead, they try to become everything to everyone. They become more of “need-fillers” than “accounting entrepreneurs (Accountaneurs®).” They find it challenging to become the “most trusted advisors” of their clients. Those who don’t know that the CAS mindset exists in them feel it will be overwhelmingly difficult to “learn” the CAS mindset. They may try to acquire the mindset but give up too soon.