A complete accounting and accountability assessment is prepared, with a full review of your current policies and procedures, accounting software utilization, financial reporting, audit recommendations, and staff duties. After assessments are completed and suggestions are presented, we are here to support you in the implementation of new policies and procedures, to ensure full transparency and accountability as a nonprofit organization.
From the creation of and up through a review of current policies and procedures to ensure that they are being adhered to, are complete and current for where your organization is today.
Fohrman & Fohrman, Inc., will prepare and/or supervise the cleanup, restructuring, and revamping of your financial records, including your chart of accounts. Our experience shows that, even though an organization may understand that changes need to be made, staff may not know what to change, or how to implement those changes. Our knowledge and expertise can help you "clean up" your financial records and give you a new foundation upon which to grow.
The best step to take in starting a nonprofit is to lay a firm solid nonprofit set of books on which to build on. As a nonprofit grows, so does the complexity of the accounting requirements. Our experience and nonprofit knowledge will set up the books for your current and future needs as your nonprofit grows.
Accounting projects need to be organized and managed to ensure that they get done in a timely manner and get done correctly. Implementation is an important step that typically gets put to the side due to lack of time by staff and executives due to busy program and fund development work. Most times, the best solution is to outsource the implementation phase to ensure that it is a priority that gets met.
Fohrman & Fohrman, Inc., serves as your nonprofit professional that oversees, or prepares, your financial reports and supporting documentation for an audit, whether it is an internal audit or one required by a grantor or government. In addition, we work with you on resolving any audit findings, and we work with the auditors to ensure complete resolution of any discrepancies.
Full charge bookkeeping includes: entering all transactions and journal entries, processing payments, collecting accounts receivable, creating financial reports, reconciling bank accounts, entering payroll, and allocating expenditures to grants, plus experienced nonprofit oversight and recommendations.
Entering journal entries, reconciling bank accounts, entering payroll, allocating expenditures to grants, experienced nonprofit oversight and recommendations.
Special projects, customized reporting, grant reporting.
Timely recording and reconciliation of all vendor invoices and payments.
Management of client invoicing, collections, and revenue recognition.
Accurate processing of payroll runs, tax deposits, and general ledger posting.
Outsourcing for your CFO to an accounting firm that has the expertise in nonprofit accounting is the perfect solution for nonprofits that are not large enough to have an in-house CFO. Fohrman & Fohrman, Inc. can serve as your CFO and give the oversight of your NPO to ensure financial soundness, compliance and accurate reporting. We work as a team with the Executive Director, Board Members and Staff to create and analyze the financial information that is needed to reflect the positive results that your organization works towards.
Produce reports and review your books to ensure proper nonprofit oversight on a monthly, quarterly, fiscal year end basis.
Creation of budgets that envelope program and grants into your operational budget.
Assess, oversee and consult on cash flow. Provide cash flow and budget forecasting.
Comprehensive oversight of grant financial compliance, fund tracking, and reporting.
Beginning, Intermediate, Advanced, Set Up.
Cost effective audit preparation for various audits such as organizational, government, contract, and grant.
How to organize your books in order to get the greatest utilization to satisfy management, board members, treasurer, audits, government, and donors.
Most bookkeepers and executive directors do not have the experience in nonprofit accounting which is more complex than for profit accounting. We offer our expertise in nonprofit accounting fundamentals.
Training and assessments focused on internal controls and identifying financial risks.
While most all board members are professionals in their given fields, their strengths may not lie in the financial aspect of a nonprofit. Helping board members to understand their fiduciary (legal) responsibilities includes that of financial oversight. Being able to understand the financials, financial indicators, cash flow, etc. is important to the survival of a nonprofit. We offer yearly trainings in this area that leaves board members feeling confident in their interpretation of the financials which assist them in executing their fiduciary responsibilities to the organization.
Planning for long-term sustainability needs to be addressed early. While the goals and projections may change over time, having a workable plan cannot be over-emphasized.
Track fund allocations, document expenses, and deliver accurate, audit-ready reports that meet funder requirements.
Compliance with government contracts, grants, federal and state requirements, and exempt purposes.
How to create a budget that includes programs, departments, grants, contracts, and staffing that all roll into an organizational budget. The importance and utilization of budgets is key to the successful operation of a nonprofit organization.
Let's talk about which services are the right fit for your organization.
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