For many nonprofits, particularly small- and medium-sized ones where finance and accounting are not core competencies, outsourcing the controller functions is a highly effective strategy. We work onsite with our clients as well as remotely.
Our Services Include
Accounting & month-end close
We can assist with as little or as much of the day-to-day accounting and bookkeeping activities that you may need. We will perform your “month-end close”: reconcile the bank and other balance sheet accounts, allocate expenses, and post month-end journal entries.
All organizations, regardless of type or size, need accurate, timely monthly financial reports. This is one of our top objectives!
Analysis & recommendations
Once the financial reports are completed, we help analyze them to understand and communicate to you the financial management and policy implications for your organization.
Good data is half of the battle. Understanding the data is the other half. We develop and update charts, graphs, and dashboards of your financial data, KPIs or even operational data to help you better understand your organization. We can even make these dashboards accessible from your mobile device!
Scenario planning & cash flow forecasting
During times of uncertainty, clarity and information are crucial to your organization's success. Depending on your needs, we can prepare cash flow reports at whatever frequency that makes sense for your organization. YPTC can help you expect the unexpected.
Board meeting attendance & training
We are happy to attend your board meeting to present your financial reports and provide training to your members and staff.
Policies & procedures
In the course of our work, we often observe opportunities to strengthen internal controls, add efficiency to operations and document these improvements in your policies and procedures.
While financial reports provide you with past data, we typically update a monthly rolling forecast report to guide your mid-term and long-term financial decisions.
We can assist in a variety of ways with your year-end budgeting beginning at the program budget level and ending with presentation of your annual budget.
Grant proposals & ad hoc reports
We help many of our clients with pro-formas or budgets that go into grant requests. Additionally, there is often a need for ad hoc reports or dashboards for you, board members, lenders or funders. We prepare these for you and make recommendations on presenting the requested information.
We will manage your incoming grants to include proper recording and classification, allocation methodologies, reporting requirements and requests for reimbursements.
YPTC will make sure that you are ready when the auditors arrive for their field work. We prepare the work papers and schedules they will need. This gives your auditors the opportunity to conduct their fieldwork and produce a draft report with plenty of time for your finance committee to review, ask questions and approve a final audit. We’ll then coordinate with your auditors to complete the Form 990 on a timely basis.