Summary of Services
Fractional accounting (categorized as CFO, Controller & Accounting Services) is a valuable resource for nonprofits, providing cost-effective expertise, flexible support, and enhanced financial management capabilities to help achieve your mission and goals.
Fractional CFO
The addition of a fractional CFO can be a transformative step for your nonprofit, offering not just expert financial oversight but also strategic guidance that aligns with your mission and growth objectives. This role can significantly enhance your financial operations, provide strategic insights during critical transitions, and ensure that your organization remains compliant and efficient.
- Overseeing the organization’s financial operations, including budgeting, financial reporting, and cash flow management
- Ensuring compliance with relevant laws, regulations, and accounting standards
- Providing financial analysis and advice to the executive team and board of directors
- Developing and implementing financial strategies to support the organization’s mission and goals
- Collaboration with program mangers to allocate resources effectively and efficiently
Fractional Controller
A fractional Controller serves as a strategic partner focusing on budget management, forecasting, financial reporting, and the overall financial health and wellbeing of the organization. While collaborating with the executive team to provide financial insights, planning, and support, your fractional Controller manages the accounting team including hiring, train, and performance management.
- Oversee the organization’s financial operations, including managing budgets, forecasting, and financial reporting.
- Ensure compliance with all relevant accounting standards, tax regulations, and legal requirements.
- Develop and implement financial policies and procedures to maintain internal controls and safeguard the organization’s assets.
- Collaborate with the executive team to provide financial insights and strategic planning support.
- Manage the accounting team, including hiring, training, and performance management.
- Prepare and analyze financial statements, including balance sheets, income statements, and cash flow statements.
- Provide financial analysis and recommendations to the board of directors and other stakeholders.
Other Accounting Services
Accounting Assessments
A comprehensive assessment will include evaluating the key areas of the people, processes, and systems used to produce financial reports and safeguard assets. Our deliverable will include a written report of our findings and recommendations in each of these key areas. Through a series of interviews and reviewing organizational information, we will accomplish the following:
- Understand the current financial reporting process, including grant reporting
- Evaluate the infrastructure quality supporting the financial data being generated
- Review current accounting procedures and policies
- Evaluate the level of daily transactions and workload assignments
- Understand and evaluate the grants management process
- Analyze how to be more efficient and streamline processes through automation
- Provide a written report of findings and recommendations
In addition, areas that may be identified during the assessment include the following:
- Accounting system modifications as needed
- Data clean up and balance sheet account reconciliations
- Adjustments recommended to achieve GAAP compliance
- Identify technical accounting issues for further evaluation
- Define financial metrics to track
- Identify source of data and data accuracy
- Tighten procedures and increase consistency
- Review current cash flow projections and cash management systems
