Non Profit Accounting Services
Working to Keep Your Organization Operating Efficiently
Commonwealth Business Services has a broad expertise handling the bookkeeping and accounting needs of Alexanrdia and Fredericksburg area charitable and non profit organizations. Our services include:
- Bookkeeping - Providing comprehensive general bookkeeping services, operating remotely from our offices or at your business location.
- Monthly General Ledger Reconciliation - Keeping your books balanced and up-to-date.
- Financial Statement Preparation - Including reporting of results to management or your board of directors.
- Tax Planning & Preparation - We work with you to prepare intelligently, report accurately, and minimize your organization's tax burden.
- Incorporation Filing - Our team will help you select a name, check for name availability, and advise as to the feasibility of registering your business name as a federal or state trademark.
- Accounting System Setup and Implementation - We will draw upon our knowledge of your specific business needs to determine the most effective accounting system, and then integrate it into your operation. Possible options include Quickbooks, Solomon, Great Plains, and NPS Pro.
- Internal Control Analysis & Implementation - Taking into account specific risks to your organization, we will install a system that ensures reliable financial reporting, addresses achievement of operational goals, and complies with all applicable laws and regulations.
- Accounts Payable and Accounts Receivable Processing - Preparing your income and expenditure instruments is a key component of keeping your organization moving forward.
- Payroll - Managing employee wages and salaries, including bonuses and deductions, is an ongoing obligation for any organization. Let Commonwealth handle it for you.
- Cash Flow Analysis & Cash Management - Don't let inaccurate cash flow expectations hamper your organizational operations. The cash flow analysis experts at Commonwealth will work to ensure the financial health of your non profit by planning ahead and helping you to manage funds to best effect.
- Financial Forecasting & Budgeting - We will help you estimate your organization's future performance as a means of optimizing cash flow reserves. We may not be wizards, but we know how to analyze historical accounting records.
- Fixed Asset Management - Assessing your organization's fixed assets will assist in maintaining an accurate valuation of your buildings, fixtures, vehicles, machinery, and other depreciables.
- CFO and Controller Outsourcing - If it makes financial sense for your organization to outsource its financial management responsibilities, Commonwealth will help you make that determination and then assist you in finding the best external resource for the job.
- State & Local Tax Exposure Analysis - Commonwealth will assist your company In preparing ahead for tax liabilities, thus minimizing assessments along with any penalties and interest that might be involved.