The cornerstone of a successful outsourcing relationship is effective communication. We take the time to understand how you want outsourcing to impact your organization and strive to provide the right fit of professionals to match your organization’s culture.
Strong fiscal health begins with timely and accurate transactions and data. With BDO FMA as your financial management provider, you can count on experienced accounting personnel to execute your daily and weekly transactional processes, handling debits and credits (like vendor payments, donations or earned revenues), processing your payroll and reconciling bank accounts–all in alignment with your organization’s current policies and procedures.
Your BDO FMA consultant will always be on the lookout for ways to improve processes, and when appropriate, support selection or changes to your fiscal management software to minimize redundancy and increase accuracy, strengthen internal controls, or make things like expense reporting easier for your non-finance staff. Read about our software and technology services
If your need for a bookkeeper is only temporary, we are also able to step in on an interim basis to keep the trains running while your permanent staff are on a leave of absence or have a planned departure. Read about other interim and transitional support
Nonprofit leaders need accurate and intelligible reports for a variety of stakeholders. With Managerial Services in your outsourcing engagement, an experienced nonprofit accountant will develop custom reporting formats for your particular requirements, organized into dashboards to support communication with non-finance leaders. Your Senior Consultant will oversee your annual budgeting process and can provide a six-month revision based on actuals, tailored for Board approval, as well as guide the annual audit process. You can count on your consultant to maintain the following fiscal responsibilities, using accepted best practices in accounting and with an engaged, attentive presence:
- Budget Development, Projections, and Financial Reporting Read about other Budget Support services
- Cash Flow Projection Modeling
- Month-End and Year-End Close
- Restricted and Unrestricted Funding tracking and reporting
- Year-end Audit Support
Depending on your circumstances, our Senior Consultants can also
- Manage Fiscal Sponsor Spin-off activities Read more about spin-off services
- Step in as Interim Management during a vacancy in your Director of Finance or Controller role Read more about other transition services
- Provide Staff Training or 1:1 Coaching to strengthen your permanent staff’s finance skills.
Executive Directors and Board Finance Committees often need deeper insight and assistance with financial strategy, and BDO FMA’s experienced Directors are available to serve as coaches and thought-partners on every level of an organization’s fiscal operations and strategic financial objectives. Even if you only need Bookkeeping or Controller services on a regular basis, we can always add hourly ad-hoc support for upper-level management to help you through a temporary need for strategic guidance. Typical engagements at this level include
- Multi-Year Financial Planning/Financial Modeling Read about other strategic planning services
- Interim C-level Support “to keep the trains running” during a planned absence or transition. Read about other services to support you through a transition
Whether you need help for a few days, a few weeks, or longer, we provide you with highly qualified staff to carry out efficient, reliable continuity of financial management.
An interim services engagement with BDO FMA might include:
- Processing payroll and/or vendor payments
- Financial reporting and analysis
- Weekly cash flow reporting
- Reconciling bank accounts
- Coordinating the audit process and developing and/or reviewing audit schedules
- Attending critical management meetings
- Providing orientation support and transferring organizational knowledge to the incoming finance leader, including developing a transition memo outlining issues that they will need to address in the future.
Think you might need to leverage a vacancy to make other changes in your finance operations? Read about what our Transitional Services team can help you do.
Balancing multiple grant reporting requirements can overwhelm an otherwise strong fiscal office. Consider sparing your team the headache and let us manage it for you — so you can focus on putting the funds to work for your community.
We carry out our outsourced grants management with a team-based approach, to provide you with appropriate experience and maximum value. An experienced Manager and Associate will work jointly to carry out roles equivalent to a Grants Manager and a Grants Accountant, respectively. Together, their functions include but are not limited to:
- Tagging expenses to grants
- Preparing budgets
- Preparing initial budget modifications
- Supporting funder audits and
- Other ad-hoc requests
Our senior-level staff will also give attention to strengthening key grants management tools such as
- Automation Technology (T-Sheets; Grants Module, etc.)
- Donor-related support (tracking private funding/grants)
- Audit-related support (Single Audit; grant specific audit, etc.)
A Senior-level Manager will carry out functions equivalent to a Budget Director including
- Oversight/review for the Grants Accountant and Grants Manager roles,
- Project management of the grants process with your management staff, and
- Serving as an advisor on any grant related matters, including potential RFPs
This level of support can also work with you to determine your Indirect Cost Rate, as well as review and revise processes to help maintain compliance with grant requirements.