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
- Calculate commissions
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
Additional Optional Services
- High-level sales and/or income tax nexus review
- Maintenance of sales tax exemption certificates
- Tracking and remitting sales tax reporting
- Cyber security assessment and penetration testing
- Information technology infrastructure assessment
- Compilation or preparation of financial statements with footnote disclosure
- Review of operating and/or shareholder agreements
- Succession planning
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
- Calculate commissions
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
Additional Optional Services
- High-level sales and/or income tax nexus review
- Maintenance of sales tax exemption certificates
- Tracking and remitting sales tax reporting
- Cyber security assessment and penetration testing
- Information technology infrastructure assessment
- Compilation or preparation of financial statements with footnote disclosure
- Review of operating and/or shareholder agreements
- Succession planning
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, via phone/video call, or in-person.
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 access to over 100 standard reports
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 access to over 100 standard reports
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
Vinita E. Weir, CPA, FCA
Meet Some of Our Team
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Shane Donaghy
Client Accounting Supervisor
I joined Kreischer Miller in 2019. One of the things I’ve enjoyed most about working with my clients is getting on Teams calls with them to strategize and effectively problem solve in order to help their businesses run as effectively and efficiently as possible. I can also see firsthand the positive impact that comes from the monthly financial statements we provide. When our clients have timely financial reports, they’re able to make better decisions for their business.
Outside of work I am a huge Philly sports fan, so I love watching Phillies, Eagles, Sixers, Flyers, and Union games. And, a fun fact about me is that I’m ambidextrous!
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Michelle Gray
Client Accounting Supervisor
I joined Kreischer Miller in 2015. What I enjoy most about my job is getting challenging tasks or questions from clients because it gives me something that I can work through and grow while helping out my clients. I find that when I’m faced with a challenge or something that I don’t know the answer to, when I do end up providing that answer, it feels so satisfying and just builds more confidence that I can help our clients.
Getting on calls with clients is also pleasant. Although it is a call to talk about the accounting, it usually ends up being just casual conversations and getting to know my clients on a more personal level.
When I’m not at work, I enjoy trying new recipes and making them with as many simple ingredients as possible!
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Kelly Kunz
Client Accounting Supervisor
I joined Kreischer Miller in 2017. The best part of my work day is always connecting with clients. I look forward to hearing updates about their business and goals. Walking a client through their financials and helping them better understand how to meet their goals is always the highlight of my week.
I really like that the work we do provides our clients with peace of mind. Peace of mind that they will receive accurate financial reports on time. Peace of mind that as their business grows, our team will adapt. And, peace of mind that a team of professionals with specialized knowledge is handling the accounting so they can focus on growing their business.
Outside of the office I am a HUGE foodie! If I’m not in the kitchen cooking up something fun, I’m out visiting local restaurants and trying all different kinds of food. If there’s something I really like, I’ll try to copy the recipe and make it at home.
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Rachel Stowell
Client Accounting Supervisor
I joined Kreischer Miller in 2022. One of the things I love about my role is providing financial reports and information to help my clients track their business performance. I also take the day-to-day accounting off their hands to save them time so they can focus more on their business.
It might surprise people to know that I’m a huge animal lover, and when I’m not at work I’m spending time with my horse Linny and all of my other pets – cats, a dog, fish, a tortoise, and a poisonous dart frog! They keep me pretty busy, but when I get some time to myself, I’m usually on one of my favorite apps, Duolingo or Clash of Clans.
