We provide full-service accounting, reporting, and grant billing expertise. We act as your finance and accounting department, so there is always someone here to address your needs. Our services include:

Compliance Services

  1. Processing accounting transactions in accordance with GAAP and OMB circular A-133 standards to be in compliance with independent CPA audits
  2. Preparation of schedules and support for clients during their independent audit review (Costs for CPA Audits belong to the client)
  3. Legal maintenance and protection of records and data while in FASS custody
  4. Preparation of supporting documentation for independent tax preparers for tax reporting (Costs for tax filing belong to the client)
  5. Annual issuance of 1099s to vendors
  6. Awareness of public accountability expectations
  7. We are annually audited by a dozen different audit firms and have always received clean audits
  8. Assistance with other regulatory filing requirements

Budget Management & Analysis

  1. Annual preparation of the organizational budget (Consulting service)
  2. Budget variance analysis as necessary
  3. Financial analysis (Consulting service)

Accounting Services

  1. At the inception of the contract, we will meet as often as necessary to set up new clients with a new organizational architecture to fit their future needs including:
    • Creation of new chart of accounts, accounting string and fund accounting structure
    • Creation of appropriate authorization documents that interface between clients and FASS (electronic or by courier service)
    • Creation of new financial reporting package
  2. Contract/grant billing/invoicing in compliance with government and private requirements
  3. Employee and indirect allocations for various funding sources
  4. Accounts receivable tracking
  5. Accounts payable processing (daily, weekly or as required)
  6. Monthly bank and investment account reconciliations
  7. Processing of monthly client billings for fees for services as necessary
  8. Payroll G/L journal entry including the accrual calculations (Payroll processing is done and paid for by the client.)
  9. On-site training of client staff and Executive Directors as necessary
  10. Coordinated courier service as necessary
  11. Support for tax return preparation and annual audits. (Tax returns and audit fees are paid by the client.)

Consulting Services

  1. Prepare Budgets, Assist with Assumptions
  2. Forecasting – Short term (1-2 years)
  3. Forecasting – Long term (3-5 years)
  4. Cash Flow Analysis and Forecasting
  5. Review Contracts (Financial Aspects)
  6. Review Financial Performance and Make Recommendations
  7. Assist with Strategic Financial Decisions
  8. Actual vs. Budget Variance Analysis
  9. Analyze and Present Monthly or Quarterly Financial Statements
  10. Prepare/present Financial Narrative for Finance Committee or Board of Directors
  11. Feasibility Studies for adding/cutting/expanding programs
  12. Review/Revise/Prepare Accounting Policies and Procedures
  13. Review Processes and Make Recommendations to Increase Efficiency, Increase Effectiveness, and/or Strengthen Internal Controls (e.g. Purchasing Process,  Fund Development Process, HR/Payroll process, or Billing Process, etc.)
  14. Implementation of Auditor Recommendations
  15. Implement Technology Solutions for A/P processing, Credit Card Expense
  16. Management and/or Employee Expense Reimbursement Management
  17. Implement Technology Solution to Streamline Vendor Invoice Approval
  18. Implement Technology Solution for Budgeting and Forecasting
  19. Document Retention – Implement Paperless Solution
  20. Evaluate Lease vs. Buy
  21. Evaluate Debt Refinance Options

Financial Reporting

  1. Preparation of monthly Statement of Activities including monthly and Y-T-D variances against budget
  2. Preparation of monthly Statement of Financial Position
  3. Preparation of monthly Statement of Cash Flows
  4. Preparation of monthly Statement of Investments
  5. Preparation of monthly Schedule of Restricted Assets
  6. Detailed financial statements by program activity
  7. Dashboard Reports for Finance Committee and Board of Trustees

What we don’t do

  1. We do not prepare audits, although we support the audit effort, schedule requirements and interface with the auditors
  2. We cannot prepare your tax returns, although we support the tax effort, schedule requirements and interface with the tax preparers
  3. We don’t do payroll inputting or call in to the payroll service provider. This is done by your staff and contracted directly by you with a payroll service provider.
  4. We do not input time cards, but we do receive payroll reports and will post the information and accruals into the general ledger.
  5. We do not keep or track your fundraising and donor information.
  6. We do not go back and reconcile or fix your past accounting records and general ledger activity. Our responsibilities begin the day we start with you.