Accounting for a Nonprofit
Our client is a nonprofit healthcare organization that provides care for nearly 300 patients. The organization’s accounting involved many Excel spreadsheets, but no clear procedures to ensure that all transactions were completely recorded. Bills were filed away without being properly entered. The staff was becoming frustrated as they were spending more and more time struggling with accounting issues.
Richlak, Lawyer & Co. was brought in to organize the accounting system. We reviewed the accounts and corrected mistakes. We had to restate the previous year’s financial statements. Once we had reconciled all of the account balances, the client employed our our Turn-Key Accounting Services. We handle all accounts payable, accounts receivable, payroll, pension and cash activities, prepare their financial statements and income tax returns, and provide audit support as needed.
Nonprofits can have the same accounting problems as for-profit organizations. The staff was delighted to spend less time with accounting and more time where it counted–with the patients.
