What We Do

We can help you reduce financial
stress and anxiety, and improve your
financial confidence.

What we do

Many organizations in the social-profit sector struggle with financial management and financial reporting.  We help not-for-profit organizations (“NFPOs”) and charities improve their internal financial management and reporting.  This can mean anything from bookkeeping and accounting to financial management process consulting.  NFPOs and charities often have more complex reporting requirements than similar sized “for-profit” organizations, often with multiple programs and projects and multiple funders and donors. That’s what we do best.

Who hires us?

Our typical customers are NFPOs and charities all across Canada – generally with annual revenue between $500,000 and $5,000,000. They are organizations that require more financial management expertise than a bookkeeper can provide, but are not large enough to require a full-time internal professional accountant. They are organizations that want to improve their internal financial management.

We’re set up to work remotely, so we can work with organizations anywhere in Canada or with Canadian operations.

What services do we provide?

We offer part-time professional accountants to oversee the work of existing bookkeepers and to design budgeting and reporting systems, primarily in QuickBooks.  These services are often performed by “controllers” and referred to as “controllership” services.

We offer two primary services:

Ongoing services (monthly or quarterly)

Businesswoman in office with a group of coworkers in background

Part-time professional accountants to fill controller and/or chief financial officer (“CFO”) roles on an ongoing basis: In this role, we help our customers with budgeting and ongoing reporting – making sure that the Board and the funders are getting the financial reporting they need in the most efficient way.

Examples:

      • Regular ongoing bookkeeping & accounting
            • Data-entry and/or reconciliations
            • Month-end adjustments
            • Payroll
            • Sales taxes
            • Bill payment
            • Revenue recognition
            • Charitable receipting
            • Audit preparation
      • Review work of bookkeeper for accuracy and completeness
      • Support for bookkeepers, accountants and Treasurers
            • Training and education
            • Board meeting attendance
      • Controllership services:
        • Risk management
        • Strategy and planning
        • Budgeting
        • Information technology
        • Organizational process improvement
        • Performance measurement
        • Financial reporting
  • Cash management
  • Receivables and receipts
  • Inventory
  • Purchases and payments
  • Human resources and payroll
  • Facilities and equipment
  • Tax reporting and administration

Financial management system and process design and consulting

people_whatwedoProject consultant for one-off financial management systems design or redesign:  In this role, we help our customers with bookkeeping system selection (QuickBooks vs. Sage 50; Desktop vs. Online) as well as writing financial policies, procedures and internal controls, and training Board members and staff.  We also assist with financial staff and treasurer recruiting.

Examples:

    • Bookkeeping and accounting system design
        • Chart of Accounts, project costing and cost allocations
        • Electronic receipt and payment systems
    • Bookkeeping system selection
        • Desktop-based systems, including QuickBooks, Sage 50
        • Cloud-based systems, including QuicKBooks Online and Xero
    • Internal financial management reporting
        • Budget vs. actual reporting
        • Standard Board reporting packages
        • Funder and donor reporting
    • Budgeting and cash flow projections
        • Revenue and expense budgets, cash flow projections, etc.
    • Creating and implementing financial management internal controls
        • Financial position descriptions for bookkeepers and treasurers
        • Financial management performance improvement processes
        • Financial management policies and procedures
    • Financial management recruiting assistance
        • Recruiting assistance for hiring bookkeepers, accountants and Treasurers
    • Financial management education and training
        • For bookkeepers, accountants, Treasurers
        • Governance roles and responsibilities related to financial management for board members

Expected Results – What can your organization can expect from hiring us?

      • Reduced anxiety and stress caused by financial management issues
      • Increased internal financial confidence
            • Board members and staff have greater internal confidence about the financial management and financial oversight of their organizations.
      • Increased external financial credibility
            • The organizations that we work with have more financial credibility with funders and donors knowing that their grant applications and financial reports are accurate and complete.
      • Higher confidence with CRA compliance
            • We help keep organizations on-side with the Canada Revenue Agency (“CRA”). We know from experience what they look for when they perform audits and we make sure our customers will pass audits with flying colors.
      • Asset and reputation protection for the organizations and for your directors
            • We also help design systems that reduce the possibility of financial theft, fraud and embezzlement. Robust systems and processes help protect the assets and the reputations of the organizations themselves and those of their Board members.
      • Improved capacity for sustainable financial management

Ultimately, we help Not-for-profit and charities attract and retain better funders, donors, staff and Board members, which enable them to better achieve their mission. This is consistent with a recent research report released in the UK that concluded that under investment in financial management resulted in lower ability to achieve the mission of organizations.
We leverage our financial systems expertise to help social-profit organizations like yours make the world a better place.

There are some services that we don’t offer (these services are offered by many accounting firms)

  • External-use financial statements
  • Assurance engagements (Audits and Review engagements)
  • Income and Sales tax advice

How do we bill for our services?

We generally don’t “bill by the hour”.  For most of our customers, we offer fixed-priced quotes for our services, in advance.

Call us today to explore whether we would be a good fit for your organization.  If after a brief phone call, it sounds like we might be a good fit, we’ll work with you to figure out how we could best tailor our services to help

Our typical process involves the following steps:

  • Discovery
    • Discuss current needs, fears, concerns, desires
    • Review existing processes and procedures
  • Identification of
    • Financial risks and financial risk reduction strategies
    • Opportunities for process improvement to maximize efficiency and effectiveness
  • Implementation
    • Revised and improved systems, processes and procedures
  • Ongoing support and assistance
    • Financial management oversight and support for improved internal control

So call us today.  You’ll be glad you did.