CHART OF ACCOUNTS
When financing or credit are sought, often a bank will request a compilation. This involves the formatting of financial data without analytical procedures or testing. The CPA will look for obvious errors but not test the accuracy of transactions or provide an opinion on the accuracy or transactions. Aside from fulfilling an external requirement, an additional benefit of a compilation is having the financial data prepared in a way that can be easily reviewed by third parties.
Our audit preparation helps nonprofit organizations prepare for an audit, taking the burden off of you. Our team reconciles account balances and provides supporting schedules to ensure a smooth audit.
CHART OF ACCOUNTS (RESTRUCTURING OR MAINTENANCE)
Bring order to your chart of accounts (COA) with this service. Your COA is the index of all the financial accounts in the general ledger of your organization. With COA services, you’ll have more specificity with your accounts by quoting any business related spending to an item so it’s easier to track budgets. Such expenses include office supplies, travel, overheard costs, and anything else used for business purposes.
It could be overwhelming just thinking about getting all your accounts reviewed and adjusted to accurately reflect the activities for the fiscal year. Our auditors can help your nonprofit with year-end close services by providing adjusted and closed entries prior to an independent audit. We provide the following:
AUDIT-READY WORK PAPERS
A REPORT OF OBSERVATIONS AND RECOMMENDATIONS TO ENSURE NONPROFIT COMPLIANCE, IF REQUESTED
BEST BUSINESS PRACTICES FOR YOUR NONPROFIT ORGANIZATION