How Client Accounting Services Benefit Nonprofits

  • May 9, 2023
  • Posted by: Hood & Strong
  • Category: Nonprofits
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Client Accounting Services – often called outsourced accounting services – are a valuable tool to help nonprofit organizations manage their finances effectively and efficiently. By outsourcing client accounting functions, nonprofits can focus on their mission and programs, access specialized CPA-level expertise, save staff and operating costs, improve financial reporting and transparency, and ensure compliance with legal and regulatory requirements.

The Hood & Strong Client Accounting Services team is headed by Donna Cohen and Tricia Anderson, who merged their firm, Cohen Anderson CPAs, with Hood & Strong in early 2023. The team provides a range of customized services to help nonprofit clients manage their financial administration and reporting functions, enabling them to better target fundraising efforts, report properly to funding sources and regulators, and have a clean audit at year-end.

Hood & Strong’s Client Accounting Services include:

  • Preparing accurate monthly or quarterly financial statements
  • Determining charts of accounts and cost center structures
  • Setting up customized internal accounting systems
  • Consulting on internal controls, staffing, cost allocation methodologies, and how to
    prepare for an audit
  • Training management and/or board members on understanding and analyzing financial reports

“Hood & Strong’s legacy of working with the Bay Area’s not-for-profit community dates back to the firm’s founding, representing more than a century of experience serving organizations of all sizes, scopes and missions,” said Managing Partner Susan Malone. “Our growing Client Accounting Services group complements our high-quality tax and audit services to help nonprofits improve their internal systems, reporting and financial controls.”

We’re here to help

Contact us to learn how Hood & Strong can cost-effectively manage all of your nonprofit tax, assurance and advisory needs, as well as take on your internal day-to-day bookkeeping, budgeting, reporting and tax compliance functions.