Articles & Alerts

COVID-19 has dramatically affected the world economy, consumer spending, business management and operations. Businesses around the world have had to mobilize quickly to make changes to be able to stay open and be profitable during this crisis. They have had to call upon their trusted tax and legal advisors to best decide how to make the necessary adjustments to their operations to stay afloat. Anchin’s Client Accounting Advisory Services (CAS) team can help you get through this crisis and beyond. Our team of experts is ideally suited to assist you in navigating through these difficult times, not only from a compliance perspective, but more importantly from a business advisory point of view.

In this increasingly remote environment, your business needs the technology and financial expertise to help you manage your performance, improve efficiencies and reduce costs by:

• Maintaining your books and records remotely through the use of cloud-based software
• Using bank feeds and e-commerce downloads to accurately and efficiently record your revenue streams
• Managing, controlling and approving all expenditures through the use of automated bill pay software
• Analyzing and monitoring cash flows.

We use critical business data to deliver the tools and guidance you need – anywhere, at any time – directing you towards faster and better decisions for your business. As you manage the pandemic’s effects on your business and prepare for life after COVID-19, we will assist you with:

• Developing a timely interim financial reporting package tailored to your business model during this economic crisis
• Tracking payroll and other covered expenses for the purpose of maximizing PPP Loan forgiveness
• Developing and modifying projections and forecasts based on changing business conditions
• Identifying key performance indicators (KPIs) and providing dashboards that are reflective of changing business and economic conditions
• Improving efficiencies for the purposes of preserving cash and reducing costs
• Evaluating government relief programs available to assist businesses with the current economic challenges.

As a result of the current crisis, many businesses have been forced to furlough financial staff, leaving gaps in vital business functions. CAS can help you fill this void by tailoring our team to fit your needs, making members of the team available to you and maintaining the flexibility to scale resources up or down in terms of team size and services provided. We have the experience and expertise to integrate and coordinate seamlessly with your existing workforce as the needs of your business evolve.  

We welcome the opportunity to discuss how Anchin’s CAS Group can help you navigate through these challenging times.  Please don’t hesitate to contact CAS Group Co-Leaders, Joseph Perotta ([email protected]) or Michael Cirenza ([email protected]), to discuss your unique situation.