Services

We provide full-service accounting and reporting, limited financial analysis 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
  2. Budget variance analysis as necessary
  3. Reasonable financial analysis as agreed upon
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. Utilization of The Health Trust’s Blackbaud Financial Edge general ledger software
  7. Monthly bank and investment account reconciliations
  8. Processing of monthly client billings for fees for services as necessary
  9. Payroll G/L journal entry including the accrual calculations (Payroll processing is done and paid for by the client.)
  10. On-site training of client staff and Executive Directors as necessary
  11. Coordinated courier service as necessary
  12. Support for tax return preparation and annual audits. (Tax returns and audit fees are paid by the client.)
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.