Client bookkeeping

The term client accounting refers to the activity of a tax consultant or external accountant who takes over the accounting for other companies (= clients). What is special about this is that a large number of clients can be handled using a single software package. Otherwise, we use a bookkeeper San Diego.

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Definition of client
On the one hand, the client is the client of the tax consultant. On the other hand, it is an organizational unit of software that is self-contained. Several clients can be created within a client-capable software. Each of these closed systems uses the same software basis, but is configured differently and is populated with different data.

Multi-client capability: prerequisite for client accounting
The multi-client capability of software requires that the data be divided into client-specific and cross-client information. Client-specific data is information that refers exclusively to a particular client, such as customer master data or bank details. Cross-client information, on the other hand, applies to all clients and is therefore stored and maintained centrally. Typical examples would be the basic configuration, currencies, countries or tax rates.

Client Accounting Process Flow
If companies do not do their own bookkeeping, they can outsource it to a tax consultant or an external accountant. These take over the bookkeeping from several customers and therefore require financial accounting software that can handle several clients at the same time. An essential requirement of this client accounting is that the data of the customers remain strictly separated and can be processed independently of each other. Within this framework, the tax consultant or accountant can, for example, perform the following tasks for the client:

Complete financial accounting
Open item and dunning management
continuous asset accounting
Evaluations from the area of business administration
advance return for sales tax
Creating the Summary Notification
payroll accounting
Settlement of payment transactions
How the client’s accounts are processed by the tax consultant depends on the type of business. There are still tax consultants who handle accounting tasks manually, but with the help of modern software. On the other hand, more and more law firms are specializing in automating the entire process. In order to make client accounting more efficient, the receipts are scanned into the client’s system and transmitted to the tax consultant via an interface. They are automatically read out, pre-sorted and assigned to accounts via text recognition. Payments can be assigned on the basis of the digital account statement and only need to be checked for plausibility.

Client accounting in the company
The company itself can also carry out client accounting. If a group of companies consists of several legally independent companies, they must each have their own separate accounting system. This situation can be represented in a client-capable accounting program. Each company represents its own client. In this way, the accounting of all companies in the group can be carried out in a central accounting department without the data being mixed up.

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