Developed Revenue Allocation Process to Save Labor Union 25 Hours Per Month
While auditing a labor union client, we encountered difficulties with reconciling the numerous categories of dues revenue during…
Concentrate on fulfilling your mission while we focus on the financials to grow your organization.
Not-for-profits face big challenges in today’s economy and regulatory environment, so the need for rigorous internal controls and solid reporting mechanisms is greater than ever. Anders has decades of experience working with not-for-profit organizations and can help you comply with regulations and be protected for your future. Most importantly, we’ll free you to develop long-term growth strategies so you can focus on fulfilling your mission.
For not-for-profits, tax planning and preparation can get complicated. Our tax advisors help organizations navigate 990 tax forms to understand what they’re paying.
Our advisors develop insights through financial statement audits, single audits, agreed-upon procedures and other analyses to help not-for-profits strengthen internal controls and identify areas to improve operations.
Using data and innovative technologies can help move your not-for-profit organization forward. Our advisors can work alongside your technology staff or work as your technology department to create efficiencies and optimize processes.
From development of policies and fiduciary responsibilities, to overall board governance and financial input, our advisors help not-for-profits make strategic decisions to move their organization forward.
Anders works with a range of leaders and professionals in the not-for-profit industry, including:
We moved a small not-for-profit organization to Office 365 using a large vendor discount. Employees can now utilize email and collaboration tools, and easily access and share documents at a fraction of the cost.
While auditing a labor union client, we encountered difficulties with reconciling the numerous categories of dues revenue during analytical testing. The client’s process for classifying revenue receipts and allocating the correct amounts from various income streams required time-consuming calculations each week by the client and was subject to human error. The client’s office manager was spending between 20-25 hours a month performing all of the manual calculations needed to allocate the dues categories based on the manner she received the deposit data from their third-party administrator.
The Anders team was able to develop a process to automatically calculate the various income allocations and populate a journal entry each week. The new revenue allocation process cut the client’s time from 20+ hours per month to 1-2 hours at maximum and will make future audits more efficient.
Want to keep up with all the latest insights from Anders? Subscribe and receive the information that matters to you.