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Outsourced Finance & Accounting

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Why Us

In order to have impact, you have to focus on your core mission—and that’s not financial statements, taxes, payroll, billing, accounts receivable, reconciliation or evolving regulations.

When the question is how to manage it alland with excellencethe answer can be to let some of it go. Armanino’s Outsourced Finance & Accounting team brings 20+ years of specialized experience to the financial and accounting function in private businesses and nonprofit organizations.

With a strong mix of expertise across all financial functions―management, reporting, accounting and tax―as well as technology expertise, we can hit the ground running to meet your specific needs. Armanino provides an extraordinary experience to our clients through best-in-class financial accounting and analytical services, delivered through an effective and efficient ecosystem of our people, processes and technology.

Approach

ofa-tier-pricing-chartWe offer four different levels of Outsourced Finance and Accounting services to provide your organization with timely and accurate financials. All subscriptions include a Cloud GL subscription service for document management and easy access to your information anytime, anywhere.

All levels of Armanino’s outsourcing services help you leverage your internal team for more value-added tasks, while Armanino handles the following business-critical financial challenges:


New Internal Controls

New Internal Controls

If you’re tired of missed deadlines, mysterious manual journal entries and monthly mad scrambles to pull together data, our Outsourced Finance & Accounting team can help.  We specialize in Audit Risk Mitigation: You’ll know the work is being done correctly and on schedule, and your data will be audit- and due diligence-ready, whenever you need it.

No Single Point of Failure

No Single Point of Failure

Outsourcing brings you financial expertise without the expense or human resources risk of hiring full-time staff.  Our specialists can step in right away, at whatever level of service you need, from accounts payable and payroll specialists to interim CFO support.

Quality of Numbers

Quality of Numbers

If you and your staff are struggling to keep your books balanced, decipher new tax rules or provide transparent reporting to your board, this pulls you away from your organization’s core work.  Armanino provides the checks and balances you need to sleep well at night, knowing that your general ledger and reconciliations are accurate and completed on time.

Document Policies

Document Policies

All growing companies and nonprofits are challenged with meeting the daily demands of customers, donors and program participants. It can seem impossible to find the time to properly document financial policies and procedures, but this is a critical business process that can’t be ignored. Armanino can provide this documentation in an efficient and cost-effective manner, ensuring your organization can stand up to external scrutiny.

Technology Stack

Technology Stack

All too often, nonprofits and smaller businesses are held back by obsolete IT infrastructure that they can’t afford to replace.  If a system upgrade is not in your budget, outsourcing is a cost-effective way to close your technology gap. Your financials are secureavailable only through a protected portaland accessible 24/7 from your desktop and any mobile device. And your company’s financials are easy to track with user-friendly reports.

Reporting Improvements

Reporting Improvements

A for-profit typically reports out to shareholders, creditors and potential investors, who are focused on the bottom line. Private schools and other non-profits report out to their circle of parents, donors, boards and foundations, who all want to know the impact their money is having. Armanino brings industry best practices to each client engagement, streamlining and improving your reporting processes.

Industries

Armanino provides Outsourced Finance & Accounting to a variety of industries.  Our staff of specialists is composed of accountants with Bachelor’s and Master’s degrees and CPA certifications who have an average of ten years of experience.  All of Armanino’s Outsourced Finance & Accounting team members are tested to ensure they have a thorough understanding of accounting principles. We have worked with hundreds of private businesses and nonprofits of every size and with varying requirements. We are skilled and experienced across the spectrum of financial management, reporting, accounting and taxand we talk your language. 

Nonprofit

In a sense, non-profit financial management is more about stewardship than commerce, especially when restricted funds are involved. The reporting must be totally transparent and much easier to examine and understand than that of a for-profit business. Accountability is paramount, and stakeholders want to know how financial decisions affect the organization’s work. Armanino has worked closely with nonprofits for more than 20 years, helping them streamline their finances without adding staff or costly infrastructure, so they can use their resources to achieve their core mission.

Churches & Schools

Armanino has worked closely with private schools and churches for more than 20 years, helping them streamline their finances without adding staff or costly infrastructure, so they can use their resources to achieve their core missions.

Technology

A startup with limited funding and no accounting or IT infrastructure has very different outsourcing needs than an established business with an internal finance team. As your organization grows and evolves, our flexible services also evolve with you.  If you’ve reached the point where an in-house finance staff makes sense, for example, we can seamlessly transfer day-to-day responsibilities to your team and provide consulting expertise for specialized issues like global tax compliance.

Franchise

With Armanino’s Outsourced Finance & Accounting services, franchises aren’t forced to micro-manage processes such as vendor payments, generating billing, preparing audience-specific reports or patching it all together with the wrong technology. They can focus on growing their franchise businesses and make critical business decisions with robust reporting of Key Performance Indicators (KPIs).  No more worrying about the loss of royalty income, which is the lifeblood of a franchisor, with timely and accurate reporting from Armanino.

Risk Mitigation

separation-of-duties-outsourcingOur experts know the risks associated with complex financial functions, so they can also help you head off operational risk issues. For example, we can evaluate and redesign your business processes, to make sure there is sufficient separation of duties, and the same person doesn’t receive the mail, handle cash receipts and maintain the accounts receivable records. 

The basic guideline in evaluating or designing a business process with a sufficient separation of duties control is to make sure that the people with custody of assets are different than those with record keeping responsibilities. For example, you do not want the person who receives the mail and handles cash and checks to also be the person who maintains the accounts receivable records. In this scenario, it would be easy for that one person to deposit the checks in an account they control and then cover up the theft by manipulating the accounts receivable records so that everything looks fine.


Our Team

Practice Leaders

David Miller

Director

Eric Thomas

Senior Manager


Related Experts

Tech

Armanino utilizes leading-edge, sophisticated cloud technology. Your financials are secure—available only through our protected portal—and accessible 24/7 from your desktop and any mobile device. And your company’s financials are easy to track with user-friendly reports. We are certified administrators and our staff is consistently trained and educated for the leading cloud applications:


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Resources

CPA.com Success Story

Armanino helps move school client out of the red by providing timely, accurate financial data and dedicated advisory support.

Outsourced Finance and Accounting

Our FMO specialists have worked with hundreds of private businesses and nonprofits over the past two decades. Armanino provides outsourced finance, reporting, accounting and tax services.

Global SaaS Company Streamlines Stock Option Administration Process

Combining easy-to-use software and outsourced equity support enabled GT Nexus to streamline its stock option administration to save time, improve reporting, and increase the accuracy of stock option accounting.

Scopix Solutions Uses Armanino’s Outsourced Finance & Accounting

Technology software firm turns to Armanino for Outsourced Finance & Accounting to manage rapid growth in the cloud, connecting bank accounts, invoicing customers and managing cash flow.

St. Mary’s School Outsources Financial Reporting to Armanino

Armanino enables school principal to make better spending decisions and increase both the quantity and quality of time she spends on the core mission of educating children.

Standard Change: FASB and IASB to Issue New Approach to Lease Accounting

Up until now, accounting for heavy industrial equipment and shipping containers to office copiers and office space has been fairly straight forward but that is changing.

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