Outsourced Accounting & Finance Services
Why Consider Outsourcing Your Company's Accounting and Finance Function to Kreischer Miller?
Companies often find it challenging to recruit and retain accounting and finance department staff with the necessary skills to effectively process transactions, provide safeguards over assets, deliver readily available financial information, and offer feedback on matters impacting the business. Beyond the management headaches this entails, business owners also can become frustrated by a lack of automation and quick access to vital financial information.
The question becomes, is it worth investing your valuable time to build and manage an accounting department or would it be more effective to outsource your accounting function to a company that excels in providing these types of services?
Benefits of outsourced accounting and finance services:
- Cost savings
- Eliminate the time and cost of hiring accounting department staff
- Reduce the risk of employee turnover
- Consistent quality and oversight over financial reports
- Reallocate time and resources to growing your business
- Leverage technology to automate manual tasks
- Consistency in accounting and financial best practices and operating policies
We invite you to connect with us to learn more about how your company can benefit from outsourcing its accounting and finance functions.
Kreischer Miller’s Outsourced Accounting & Finance Services
Bank Reconciliation
- Obtain bank feeds from financial institutions
- Synchronize bank feeds to QuickBooks Online for posting
- Maintain monthly bank reconciliations
- Review aged reconciling items with management
Accounts Receivable
- Enter invoices from company documents
- Match payments received
- Reconcile sub-ledger to general ledger
- Review aging reports with management
Accounts Payable
- Setup on Bill.com
- Enter invoices
- Code expense accounts under company direction
- Facilitate vendor approval and payment processing
- Reconcile sub-ledger to general ledger
- Review aging reports with management
Prepaid and Accrued Expenses
- Maintain prepaid and accrued expense schedules
Credit Cards
- Import credit card transactions
- Monitor receipts submitted through Dext
- Reconcile sub-ledger to general ledger
Debt Accounts
- Enter principle and interest payments
- Maintain debt amortization schedules
Fixed Assets
- Maintain fixed asset schedule
- Record depreciation and amortization expense
Payroll Matters
- Enter payroll transactions from third-party payroll reports
Additional Compliance Matters
- Maintain W-9 for 1099 preparation
- Prepare year-end 1099s
QuickBooks Standard Reports
- Balance sheet
- Profit and loss
- Accounts receivable aging report
- Accounts payable aging report
- General ledger detail
- Sales by customer detail
- Disbursements by vendor
Bank Reconciliation
- Obtain bank feeds from financial institutions
- Synchronize bank feeds to QuickBooks Online for posting
- Maintain monthly bank reconciliations
- Review aged reconciling items with management
Accounts Receivable
- Enter invoices from company documents
- Match payments received
- Reconcile sub-ledger to general ledger
- Review aging reports with management
Accounts Payable
- Setup on Bill.com
- Enter invoices
- Code expense accounts under company direction
- Facilitate vendor approval and payment processing
- Reconcile sub-ledger to general ledger
- Review aging reports with management
Prepaid and Accrued Expenses
- Maintain prepaid and accrued expense schedules
Credit Cards
- Import credit card transactions
- Monitor receipts submitted through Dext
- Reconcile sub-ledger to general ledger
Debt Accounts
- Enter principle and interest payments
- Maintain debt amortization schedules
Fixed Assets
- Maintain fixed asset schedule
- Record depreciation and amortization expense
Payroll Matters
- Enter payroll transactions from third-party payroll reports
Additional Compliance Matters
- Maintain W-9 for 1099 preparation
- Prepare year-end 1099s
QuickBooks Standard Reports
- Balance sheet
- Profit and loss
- Accounts receivable aging report
- Accounts payable aging report
- General ledger detail
- Sales by customer detail
- Disbursements by vendor
How We Work Together
Our client service model is flexible, depending on your company’s needs. We can correspond with you on a weekly, bi-weekly, or monthly basis, either virtually/electronically or via phone/video call.
By working with Kreischer Miller, you’ll also have access to the full resources and capabilities of a public accounting firm. Whether you need support with buying or selling a company, obtaining a business valuation, assistance with succession planning, or navigating estate and gift planning, our experienced accounting, tax, and advisory professionals are here to help.
Our Process
Onboarding
- Step 1: Assess management’s needs and desired output
- Step 2: Collaborate on potential solutions and recommended technology platforms
- Step 3: Integrate and train on technology platforms
Ongoing
- Step 4: Maintain the accounting for transactions via bank feeds and vendor payments
- Step 5: Reconcile monthly account balances and record journal entries
- Step 6: Provide management team with a monthly reporting package
Onboarding
- Step 1: Assess management’s needs and desired output
- Step 2: Collaborate on potential solutions and recommended technology platforms
- Step 3: Integrate and train on technology platforms
Ongoing
- Step 4: Maintain the accounting for transactions via bank feeds and vendor payments
- Step 5: Reconcile monthly account balances and record journal entries
- Step 6: Provide management team with a monthly reporting package
Our Technology Stack
Staying up-to-date with emerging technology can be daunting and time consuming. Our Outsourced Accounting & Finance group utilizes a well-orchestrated technology stack comprised of sophisticated tools that we surround with processes and best practices to improve efficiency in your accounting and finance functions.
Outsourced Accounting & Finance Services Specialists
Robert S. Olszewski, CPA, AMSF
Email
Lisa M. Cattie
