Get the value of accounting specialists without the stress
In today’s world, every organization is facing the same dilemma: Financial management is more important than ever. But forming and maintaining your own in-house team is complicated, expensive and inefficient.
To succeed, your organization needs more than the financial team of the past. You need an innovative yet practical team that can take care of today’s tasks. A team that can work with you — using the latest technology — to provide forecasting and deliver new visibility into your operations. One that can help you make proactive, strategic decisions.
How we can help
At Wipfli, our team of advisors, accountants and financial specialists perform all the day-to-day functions of an in-house financial team — without the cost and complexity.
Our team takes ownership of your organization’s finances, helping you:
- Build the ideal financial processes for optimal efficiency
- Understand relevant information for effective decision making
- Remain compliant and audit-ready
- Achieve continuity and increase reliability
- Provide transparency to board, leadership and staff
- Protect the lifeblood of your organization with procedure documentation
- Prepare for your future with succession planning
- Assist with screening accounting professionals for your organization
We provide transparency, consistency and reliability. But our solutions aren’t uniform, out of the box. We work with you to ensure we’re filling your specific needs and addressing the specific challenges of your industry.
Breakdown of our services
Before we get started, we find it beneficial to create a written road map that provides recommendations for processes, technologies, timelines, and roles and responsibilities. Our competitors’ “plan as you go” approach often leads to false starts, missed expectations and unnecessary stress.
Instead, we work with you to understand and map your current accounting processes. Then we define the ideal future state based on what builds in the most efficiencies, minimizes costs and provides all the tools your organization needs to thrive. By first immersing ourselves in your operations, we can deliver the highest degree of service going forward.
As part of our road-mapping process, we:
- Create a map of processes and procedures used to achieve your vision
- Determine the technologies that are best aligned to the proposed map of processes and procedures
- Define crystal-clear roles and responsibilities for all individuals involved
- Establish timelines for financial reports and outputs for various stakeholders and other key financials activities
- Create clear lines of communication
- Learn about all the unique facets of your organization
- Provide financial analysis and strategic planning
- Create key performance indicators
- Analyze significant vendor relationships and trends
- Review cash flow forecasting with management and provide analysis
- Help management develop budget annually
- Train management on turning financial data into actionable insights
- Hold scheduled strategic calls with management
- Identify opportunities to improve cash flow
- Consult on debt structure and refinance opportunities
- Identify redundancy and potential efficiencies
- Assist management in the development of service contracts and grant applications
- Identify and advise on opportunities for revenue diversification
- Assist with succession planning
- Evaluate software and systems used to execute operations and strategy
- Provide full coordination of budget process
- Oversee action plans to address budget gaps
- Oversee your accounting department personnel
- Manage accounts payable and accounts receivable
- Supervise payroll processing and submission
- Offer best practices in classification and supporting documentation
- Identify revenue and expense trends
- Manage financial dashboard and key performance indicators
- Provide ongoing attention to the sufficiency of transactional documentation and ensure compliance with organizational or government standards and requirements
- Help develop an enhanced financial reporting package
- Document current roles to alleviate pain in turnover and identify efficiencies
- Analyze monthly budget to pinpoint areas of achievement and concern
- Assess automation and integration opportunities
- Download and monitor bank activity
- Enter vendor invoices
- Reconcile vendor statements
- Pay vendors and track Accounts Payable
- Download and monitor credit card activity
- Enter transactions from employee expense reports
- Create grant and fee-for-service invoices
- Record invoice payments and track Accounts Receivable
- Process and record payroll
- Submit 401(k) payments
- Prepare and submit sales & use tax returns
- Reconcile credit card and bank statements
- Record depreciation
- Track unbilled revenue
- Manage and store financial documents in the cloud
- Track and make adjustments to significant balance sheet accounts (e.g., prepaids, accruals and debt)
Contact us today to get the results you need. Through deep knowledge and innovative services, we optimize your day-to-day operations, protect your financial house and prepare your organization for whatever the future may bring.
Featured Thought Leader
Karl A. Eck, CPA
Karl's experience is in working with grant-funded nonprofit organizations. He provides audit, consulting, and training services with a primary focus on community action programs and Head Start organizations. As a member of Wipfli’s nonprofit technical issues committee, Karl stays up to date on current accounting and regulation matters affecting nonprofit organizations. With this knowledge, he helps clients navigate through the audit process and provides solutions to their problems.
