Colella & Humphries Adds Clients

CANFIELD — Colella & Humphries CPAs report 6% revenue growth in 2020, most of which principals James Colella and Michael Humphries credit to bringing on six local clients in manufacturing and construction. 

The effects of COVID-19 made it one of the most unusual years on record for the firm, they agree.

“We saw the individual tax deadlines extended until July and a whole new line of work related to PPP loan assistance and other small-business relief offered by the SBA,” Humphries says. “In addition, we’ve had to learn to work with clients in a virtual environment using new tools like Zoom and Microsoft Teams to collaborate via the internet in the form of video chats with screen sharing capability.”

Employees were trained in accounting platforms such as Foundation Software, NetSuite and QuickBooks Online. The platforms were used to integrate bank account information directly in a client’s general ledger software, streamlining daily functions and reducing data entry time, all while reducing the chance of errors, Humphries says.

“This has been a big hit with our existing clients, allowing them to spend more time in other parts of their business,” he says.

Also, in 2020, the firm passed its peer review with no findings.