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Overview In serving our clients, we strive to remove burdens and disruptions from their worlds with superior financial services and passion beyond the numbers. Throughout the years, we have worked with a variety of clients in both financial statement preparations as well as audit services. Over time, we realized that many of our clients were […]

Overview

In serving our clients, we strive to remove burdens and disruptions from their worlds with superior financial services and passion beyond the numbers.

Throughout the years, we have worked with a variety of clients in both financial statement preparations as well as audit services. Over time, we realized that many of our clients were hiring separate CPA firms to assist with these two different services, resulting in inefficiencies — such as sending the same documents twice, answering similar questions for both engagements and dealing with miscommunication between separate firms — that lead to extra time and money spent coordinating the two services.

Determined to find a solution that would relieve stress from our clients and streamline operations, the Perry & Associates CPAs team formed our unique combined preparation and audit services. As they say, the rest is history!

Solution

Bringing preparation and audit together under one engagement meant rethinking and refining each step to create a smoother, more manageable process for our clients. We ensure that only one job leader (and possibly one associate) manages the full process, providing the client with streamlined communication and more efficient scheduling through a single point of contact. Client burdens are minimized by a one-time document upload and a smooth internal handoff from statement preparation to audit phase. Furthermore, we ensure that issues are identified and resolved during the preparation phase — before audit testing begins — helping to minimize potential audit findings. 

Results

Developing a combined preparation and audit service has proven to be a gamechanger for our clients. Not only has the streamlined communication allowed for more efficient scheduling, but it has also led to fewer audit adjustments and findings as well as improved turnaround times for completing audit fieldwork. Client satisfaction has improved significantly due to our intuitive, efficient and reliable approach, and we are thrilled that this new service innovation has supported our clients’ business growth, while saving them time and money.

Are you ready to relieve the burden of financial statement preparation and annual audits? Then contact Perry & Associates CPAs to learn more about our combined prep and audit solution!

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https://www.forbes.com/councils/forbesfinancecouncil/2025/02/06/how-modern-accounting-drives-business-growth/ By Gary Galstyan, Forbes Councils Member Traditionally viewed as a back-office task focused on compliance and tax filings, accounting has transformed into a strategic tool that drives business growth and innovation. At Perry & Associates CPAs, we’ve seen firsthand how rethinking accounting as a proactive, insight-driven function opens new opportunities for our clients. Businesses […]

https://www.forbes.com/councils/forbesfinancecouncil/2025/02/06/how-modern-accounting-drives-business-growth/

By Gary Galstyan, Forbes Councils Member

Traditionally viewed as a back-office task focused on compliance and tax filings, accounting has transformed into a strategic tool that drives business growth and innovation. At Perry & Associates CPAs, we’ve seen firsthand how rethinking accounting as a proactive, insight-driven function opens new opportunities for our clients. Businesses that rely on real-time financial data, forecasting, and strategic tax planning can improve operational efficiency, make agile decisions, and uncover cost-saving opportunities—such as one client who boosted profits by 20% after we identified inventory inefficiencies. By leveraging technology like AI-powered tools and cloud-based dashboards, and combining it with expert guidance, companies can better navigate uncertainty, access funding for expansion, and reinvest tax savings into innovation. At Perry & Associates, we help clients move beyond compliance to build financial strategies that support long-term growth. Accounting isn’t just about the numbers—it’s about moving your business forward.

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Overview Being good community stewards is one of the founding principles of Perry & Associates CPAs, and one that fills us with passion and purpose. When North Star Child Advocacy Center — a nonprofit organization dedicated to supporting children and families affected by abuse — reached out to our team of experts, we were excited […]

Overview

Being good community stewards is one of the founding principles of Perry & Associates CPAs, and one that fills us with passion and purpose. When North Star Child Advocacy Center — a nonprofit organization dedicated to supporting children and families affected by abuse — reached out to our team of experts, we were excited to provide assistance that would remove the burden of day-to-day accounting operations and allow them more time to focus on their important mission of child advocacy.

Solution

Our client accounting services team began managing internal accounting functions for the organization, implementing controls and providing other finance-related assistance. For the last five years, our ongoing services for the organization have included processing payroll, accounts payable, activity tracking, bank reconciliations, financials, board packets, grant budget and billing and more. We are also their team to call for other finance-related items that come up, which has included looking at new funding, assisting with audits, and purchasing a new building.

Results

With Perry & Associates CPAs on their side, North Star Child Advocacy Center has a trusted team of experienced professionals assisting them in a variety of accounting and finance functions, ensuring the organization’s time and resources are spent where they matter most. When our firm first started assisting with grants, we identified a budgeting/timing issue that would have cost the organization about $50,000, and were able to properly reallocate funding to keep most of the funds. Perry & Associates CPAs is proud to provide financial services that set the organization up for success and allow them to continue making their community a safer place for children.

“North Star has small staff running the busiest child advocacy center in West Virginia. When we brought Perry & Associates CPAs onboard, we had no checks and balances in place, no internal or external full-time accounting assistance and no one in-house who was proficient in accounting processes. Perry & Associates CPAs took the time to learn, in detail about us, implement needed mechanisms and teach us what we need to do to be free of any liability. We regained the financial trust of our Board of Directors and the foundations, businesses and people in the community who now support us emphatically. We worked with Perry & Associates CPAs to navigate the tedious grants that are vital to non-profits, helping us to find new grants and preventing us from losing tens of thousands of dollars of existing ones. Today, Perry & Associates CPAs is walking with us through our major property purchase and expansion of employees and services, helping us plan for North Star’s financial future. I not only found a competent and trustworthy business partner to assist North Star in growing to be the professional, fiscally responsible organization I wanted, I found friends and teammates.”

— Greg Collins
Executive Director
North Star Child Advocacy Center

Are you a nonprofit organization that wants to stress less and focus on your vision more? Contact Perry & Associates CPAs and we’ll get you on the right track!

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As a team of accounting experts with years of experience and passion beyond the numbers, we have seen how smart accounting practices can help a business thrive – and how lack of a financial management plan can destroy a business as well. Whether your business is a startup, an established enterprise, or a non-profit, take […]

As a team of accounting experts with years of experience and passion beyond the numbers, we have seen how smart accounting practices can help a business thrive – and how lack of a financial management plan can destroy a business as well.

Whether your business is a startup, an established enterprise, or a non-profit, take a moment to learn about Perry & Associates CPAs’ top 10 accounting practices to ensure profit success.

1. Identify Your Financial Goals

We’ve helped businesses in various stages of their financial journey throughout the years, and one thing remains clear; having clear financial goals helps business owners create a more realistic financial plan, reach financial targets, efficiently allocate resources, set budgets and discover opportunities to grow revenue. Without a plan, don’t expect profit to expand!

2. Establish a Chart of Accounts

A chart of accounts is a structured system that categorizes and organizes all the financial transactions of a business. Essentially, it’s a blueprint of your financial system. It typically includes a list of accounts representing assets, liabilities, equity, income and expenses. It helps business owners understand and track money coming in, money going out, what you own and what you owe. It also makes the financial reporting process much easier.

3. Budget and Forecast

Budgets provide a structured plan for how a business will allocate resources, manage spending and track progress toward financial goals. On the other hand, forecasting focuses on projecting future financial outcomes by analyzing past performance and current market trends. Both work hand in hand to help business owners make informed decisions and avoid overspending.

4. Regularly Review Financial Statements

Schedule monthly or quarterly reviews of your financial statements. This will help you identify trends or potential problems at your place of business. Three primary financial statements to analyze are income statement, balance sheet and cash flow statement.

5. Maintain Proper Internal Controls

Strong internal controls minimize the risk of fraud and financial errors, which is critical to ensuring profit success. Our forensic team, Perry Forensic, recommends implementing policies and procedures that are designed to protect assets, ensure accurate financial reporting, support regulatory compliance and keep all members of the team on the same page. Ways to do this include separating responsibilities among staff, implementing clear procedures and performing routine audits.

6. Use Automation to Streamline Accounts Payable and Receivable Processes

Streamlining accounts payable and receivable processes means automating and optimizing how a business manages incoming and outgoing payments to improve accuracy, speed and cash flow. It reduces manual work, minimizes errors and ensures timely billing and payments. As a forward-thinking and ever-innovating team, we have experts who know the ins-and-outs of accounting software that can provide support and the expertise needed to set up and manage these systems.

7. Stay Compliant With Tax Regulations

No accounting best practices list would be complete without reminding business owners to stay on top of their taxes! Maintaining tax compliance is vital to your business’s overall financial well-being, and involves keeping accurate financial records, staying informed about current tax laws and regulations and identifying key tax planning opportunities that minimize your tax liabilities. Sound overwhelming? Then contact our tax and accounting experts.

8. Conduct Regular Audits

Conducting regular audits is an opportunity to receive constructive feedback, improve processes, identify risks and become aware of financial reporting concerns. At Perry & Associates CPAs, our auditing services gives our clients an intensive review of their systems and records to provide the highest level of assurance.

9. Set Clear Profit Goals and Monitor KPIs

Set clear profit goals and monitor key performance indicators (KPIs) such as cash flow forecast, inventory turnover, customer retention and revenue growth rate to evaluate progress and guide strategic decision-making.

10. Work With Accounting Experts like Perry & Associates CPAs

Partnering with a professional accounting firm can streamline your operations by saving time, minimizing errors and ensuring regulatory compliance. We are invested in your success and have a deep commitment to providing services in a way that are always responsible, reliable and accurate.

Need guidance on putting these best practices into effect? Contact Perry Forensic. We’ll get you on the right track to profit success and personal satisfaction.

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At Perry & Associates CPAs, we recognize the growing importance of advanced technologies like AI in safeguarding the financial sector from fraud. According to recent insights from Feedzai’s report 2025 AI Trends in Fraud and Financial Crime Prevention, over 90% of financial institutions are now leveraging AI in some capacity to combat financial crime—with 30% […]

At Perry & Associates CPAs, we recognize the growing importance of advanced technologies like AI in safeguarding the financial sector from fraud. According to recent insights from Feedzai’s report 2025 AI Trends in Fraud and Financial Crime Prevention, over 90% of financial institutions are now leveraging AI in some capacity to combat financial crime—with 30% specifically using it for identity verification. However, this same technology is also enabling new threats, particularly through the misuse of generative AI in scams like voice cloning.

Financial institutions are actively applying AI in scam detection, transaction fraud monitoring, and automating AML processes. AI has also proven effective in reducing false positives, improving efficiency and accuracy in fraud prevention workflows. Despite these benefits, concerns remain around data privacy, algorithmic bias, and the high cost of implementation—issues that must be addressed with explainable and interpretable models to ensure regulatory compliance and public trust.

We also note a significant trend in the shift toward reusable, self-sovereign digital identities, as showcased at Money 20/20 Asia. Solutions like Sumsub’s SSI platform allow individuals to verify their identity once and use it across services, enhancing both user convenience and fraud resistance. With the projected cost of digital fraud expected to reach $107 billion by 2029, we believe financial institutions should closely monitor developments in AI and digital identity while adopting best practices in governance, compliance, and cybersecurity to stay ahead of evolving risks.

Check out the original article by Masha Borak here.

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Avoid IRS Penalties & Interest: If you owe taxes on Social Security or other income (like dividends or retirement withdrawals), you must make quarterly payments. Missing these deadlines can lead to penalties and interest, cutting into your retirement income. Improve Budgeting & Reduce Stress: Early tax filing eliminates surprise tax bills, helping retirees on fixed […]

  1. Avoid IRS Penalties & Interest:
    If you owe taxes on Social Security or other income (like dividends or retirement withdrawals), you must make quarterly payments. Missing these deadlines can lead to penalties and interest, cutting into your retirement income.
  2. Improve Budgeting & Reduce Stress:
    Early tax filing eliminates surprise tax bills, helping retirees on fixed incomes plan more effectively and avoid last-minute financial strain.
  3. Protect Your Social Security Payments:
    Ignoring tax bills can result in garnishment of up to 15% of your Social Security through the Federal Payment Levy Program. Paying early helps prevent this.
  4. More Time to Fix Issues:
    Social Security complicates tax returns, especially if you have other income. Starting early gives you time to address errors or missing forms like 1099-Rs, reducing the risk of delays or amended returns.
  5. Withholding Option:
    You can file IRS Form W-4V to have taxes withheld from Social Security payments, helping you stay current year-round and potentially reducing what you owe at tax time.
  6. Faster Refunds:
    If you’re owed a refund, filing early ensures you get it sooner — freeing up money for essentials or enjoyment.

Check out the original article by Choncé Maddox here.