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CPA Firm Augmentation

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CPA_Firm_Augmentation

What is CPA Firm Augmentation?

Dedicated to perfecting Virtual CFO Services since our inception in 2002, Summit CPA Group serves as Virtual CFOs for over 100 clients throughout North America. We are now taking our experience to the next level by providing advisory services to other CPA Firms, helping them learn how to successfully do what we do. With CPA Firm Augmentation, CPA Firms can receive accounting outsourcing services and Virtual CFO Consulting from our experienced staff!

Through our CPA Firm Augmentation service, you can outsource your back office accounting to us while we coach you through how to provide successful Virtual CFO services. We provide you with the processes, tools, and senior accounting team to support you so you can be the CFO.

Where most CPA Firms focus on the past, our Virtual CFO Firm focuses on the future!

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How does the CPA Firm Augmentation process work?

Our CPA Firm Augmentation service starts with onboarding and continues perpetually.

We will guide you through the following stages:

  • Learning Stage: In eight 1-hour sessions, we will teach your firm how to provide Virtual CFO services, how to price the services, expected workflow, and communication with the Summit team, processes that we use, tools that we use, and methods to maximize the use of the Summit CPA Group team.

  • Identifying Clients Stage: We will help you identify potential clients within your existing client base, coach you on contacting those leads to introduce the service as well as following up with the leads and assist you with closing the deal.

  • Engagement Stage: Once the deal is closed, the engagement begins. The client goes through our 8-week onboarding process and the services kick off from there.

 

What does CPA Firm Augmentation include?

We use a value-based system for our pricing. 

Depending on the level of involvement you want to have with the client and your involvement with our senior level team (on a client by client basis), you can make a profit of 25%, 15% or 10%* of client billings transferred directly to your account on a weekly basis.


*With the Full-Service option, your firm keeps 10% of total revenue the first year and 2% for the next 5 years f
or a total of 20% over the lifetime of the engagement.

Fee Split to CPA Firm

Client Ownership

Client Fee Collection

Meeting Ownership

CFO Services

Forecasting
KPI Management
Special Projects

Tax Return Services

Tax Compliance
Tax Projections
Tax Planning

Accounting Services

Financial Statements
Cash Flow Analysis
Bank Reconciliations
Credit Card Reconciliations
Accounts Payable
Accounts Receivable

Payroll Administration

Payroll/Contractor Admin
Employee Expense Tracking

Augmentation

Your Firm

Summit CPA

Fee Split to CPA Firm

25%

Client Owenership

Client Fee Collection

Meeting Owenership

CFO Services

Forecasting
KPI Management
Special Projects

Tax Return Services

Tax Compliance
Tax Projections
Tax Planning

Optional

Accounting Services

Financial Statements
Cash Flow Analysis
Bank Reconciliations
Credit Card Reconciliations
Accounts Payable
Accounts Receivable

Payroll Administration

Payroll/Contractor Admin
Employee Expense Tracking

Referral

Your Firm

Summit CPA

Fee Split to CPA Firm

10%

Client Owenership

Client Fee Collection

Meeting Owenership

CFO Services

Forecasting
KPI Management
Special Projects

Tax Return Services

Tax Compliance
Tax Projections
Tax Planning

Optional

Accounting Services

Financial Statements
Cash Flow Analysis
Bank Reconciliations
Credit Card Reconciliations
Accounts Payable
Accounts Receivable

Payroll Administration

Payroll/Contractor Admin
Employee Expense Tracking

*SCPA will perform the above level of services (marked as SCPA) if they are part of the client engagement.

Example of how the pricing structure works


Here’s how the pricing structure would work with an average $60,000/year client:

 

$60,000 Annual Engagement

$60,000

$60,000

$60,000

Revenue Share 

x 25%

x 15%

x 10%

Annual Fee to CPA Firm

$15,000

$9,000

$6,000

Weekly Fee

$289/week

$173/week

$115/week

 


 

5 Reasons to Consider CPA Firm Augmentation with Summit CPA Group

  1. Client retention
  2. Expand your service offerings
  3. Growth and/or evolution of your CPA Firm
  4. Succession planning
  5. Support from a peer group of accountants


CPA Firm Augmentation Resources:

CPA Firm Augmentation-1

 

Want to learn more about our CPA Firm Augmentation program?
Let's chat!
Schedule a free, 60-minute consultation with us today.

 

Firm Augmentation Consultation

 

 

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"Summit CPA is not just accounting. From the beginning we could tell this was going to be a different kind of relationship. Each week we have a cashflow meeting and every month we have meetings for sales/invoicing, forecasting and monthly financial reports."
- Matt Westgate, Lullabot

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