Client Overview KMK: A Strategic Partner for US-Based CPA Firms
The CPA firm turned to KMK for help with outsourcing their accounting and tax services. As a part of an initial assessment, KMK understood the number and complexity of the tax returns that the firm was processing every year.
KMK also understood the number of clients on monthly recurring accounting along with the scope of work and deliverables for each of these clients.
Based on the initial assessment, KMK developed a complete outsourcing model which included an experienced team of 5 tax staff and 2 tax managers on full time basis for tax preparation work. KMK also developed a team of 2 staff accountants to manage the monthly accounting deliverables for its accounting clients.
With the help of this team, the firm was able to prepare and file more than 2,500 tax returns during the year which included business, individuals as well as a few non-profit tax returns. KMK’s tax team prepared returns with 99% completion and accuracy rates.
KMK’s tax team collaborated with only 3 tax manager from the firm’s team and were able to turn around more than 2,500 tax returns. The software stack used for this firm was Ultra tax, Sureprep and Canopy for taxes and Quick Books & NetSuite for accounting.
To address the different time zones, KMK’s tax team stays available up to 1PM CST which gives an overlap with US time zones for at least 4 to 5 hours for collaboration. KMK’s tax team used to connect for 30 minutes every day over Microsoft Teams to provide daily updates.
The partnership between the firm and KMK was very successful, with several synergies created:
All-in-one Accounting Solutions
For U.S. Based CPA Firms Are you looking for remote staff for CPA firm?
For U.S. Based Businesses Are you struggling with accounting for your business?
At KMK, we offer comprehensive end-to-end accounting services to help your business thrive. From day-to-day bookkeeping to financial statements, our expert team has got you covered.