CPA firms provide an array of services, but bookkeeping is usually the least lucrative of the bunch. While bookkeeping requires considerable time, accuracy, and attention to detail, the skills required of a good bookkeeper are very different from those of a qualified accountant.
Bookkeeping activities are delivered at lower margins, yet consume valuable time. To maximize your CPA firm’s revenues and to keep your highly qualified team focused on the strategic work they most want to do, it makes sense to partner with Enkel for bookkeeping. Here are 10 reasons why CPA firms should partner with Enkel to deliver bookkeeping services to their clients.
1. Focus on high-value work
While bookkeeping is the foundation of most of the work that you do for your clients, it's an activity that your team of professionals would rather not be bothered with. Instead, hire accountants and let them focus on the strategic accounting activities that drive more value for your firm, and leave the bookkeeping to the people who love bookkeeping. This “boutique” mindset is focused, strategic, and profitable.
2. Only pay for top talent
Salaries for bookkeepers have increased over the years, making it hard to do bookkeeping work profitably. The good news is that you don’t have to! Enkel has built a team of experienced bookkeepers operating in a hyper-efficient ecosystem capable of delivering top-notch work at an affordable price. Spend your valuable dollars on top accounting talent and let them direct their time towards activities that drive higher revenues and margins for your firm.
3. Bookkeeping is different
Sure, bookkeeping is part of the accounting discipline, but make no mistake, it is tactical, operational in nature, and highly prone to friction at a transactional level. We built Enkel to address this friction with buttoned up processes and workflows that clients can easily follow and adhere to. It is a fairly low-touch ecosystem anchored in efficiency. Chances are your firm is not designed for this kind of transactional work and execution.
4. Accounting technology is critical
At the heart of a well-oiled bookkeeping machine is technology. At Enkel, we are experts at using and managing a state-of-the-art, cloud-based tech stack. Clients have their own custom-built workflows that are optimized on Quickbooks Online or Xero, complete with checklists and timelines. Your clients will benefit from the proven processes that have been time-tested and refined. If your firm doesn’t have these capabilities, your clients may be looking for it elsewhere. Partner with us and that risk is minimized.
5. Big firms are getting into the bookkeeping game
It’s tough enough to compete with the big brand accounting firms, but now they are expanding their service offerings to include an expanded scope of services including bookkeeping. If you try to compete in the same way, margins will shrink and your team will be less focused on the work they do best. Partnering with Enkel and integrating our services feels like one, seamless experience for the client.
If you’re providing assurance services, you need a bookkeeper you can trust to complete the bookkeeping work so that your assurance engagement can be completed in an efficient and timely manner. Yes, firms are getting around this through ethical dividers and other strategies (this is a discussion for another day, but fundamentally goes against basic self-review principles and should be universally disallowed in our opinion).
At Enkel, we work closely with your team to set up the client file to best suit your firm’s needs. From there, you get timely, reliable bookkeeping that enables your team to deliver the most accurate service possible.
7. PBC packages delivered to your specifications
Some firms just need access to QBO/Xero while others need documents saved to a portal. At Enkel, we work the way you do, providing you with what you need, when you need it, the way you need it! Our cloud-based systems give us the flexibility to adapt to your requirements, without compromising on accuracy and timeliness.
Quality bookkeeping can be challenging. Everyone has opened a file at one point or another and thought, “Oh no!”. At Enkel, we have a structured internal review and quality assurance process whereby all files are subject to an intensive quality check every 90 days - over and above our already rigorous preparation and review process.
9. Quick response times
While a bit cliche’, time really is money when it comes to accounting. When you work with Enkel, the technical person responsible for a file will respond to you by the next business day. Our client-centric success team monitors responses and ensures that matters are closed in a reasonable time frame. You will never get “crickets” when you work with us.
10. It’s good for your clients
We started Enkel because we believe that entrepreneurs and NPO leaders deserve better; better information, faster response times, all at an affordable rate. It's our brand promise. Your clients will value and appreciate the bookkeeping services they get from Enkel and the seamless transfer of information to you, their accounting partner.
Outsourcing bookkeeping services to Enkel is an optimal solution for small and mid-sized CPA firms looking to strategically grow and scale their firm. By keeping the focus on high-value work, using a bookkeeping partner you can count on, you’ll be more competitive and maximize profitability of your services. Are you ready to talk to Enkel about our bookkeeping solutions? Visit our partner page to find out more.