Accounting Services for Association Management Companies
Strategic AMC Accounting Partnerships
The biggest complaint we hear from AMC CEOs is the lack of synergy between their internal staff and external accountants. Most understand the value of outsourcing the accounting work vs managing a team in-house, but they can’t find the right long partner to provide stability and help them scale. Work is often duplicated and information sharing is inefficient, financial data is typically not available in real-time or detailed enough to help your staff make everyday strategic decisions, and staff turnover is high at most accounting firms so you’re dealing with new people all the time. We know you need better service at a lower cost, which is why we created our AMC accounting partnership solution with all of these issues in mind. As your outsourced accounting department we work with you to develop the right processes and cloud technology stack to enable optimal efficiency while providing you with real-time dashboard reporting on all of your clients. The result is more time for your staff to focus on adding value and growth, and more financial data available to support decision making.
How We Work
Phase One: Assessment
Most accounting partnerships fail from the start due to a lack of due diligence and planning up front. The first thing we do is a deep discovery to understand every single accounting process and workflow without your organization. We take all of that information and develop a series of recommendations and a road map to get there. We outline the technologies we recommend, how to redesign processes to be more efficient, how we should communicate optimally, and what reports will help your staff make good decisions for your clients.
Do you need an assessment? Contact us to get started.
Phase Two: Implementation
We bring your road map to life. We clean up your books, implement any new technologies, develop and train on new processes, and assign you a fractional team of Accountant, Controller, and optional CFO to become your accounting department based on your exact needs.
Phase Three: Execution
Your new SAOS accounting team executes flawlessly and gives you the culture, compliance, visibility, and results you need. We handle tasks such as A/P, invoicing, credit card expense management, payroll, cash management, month end, reporting, budgeting, etc. And as you grow, we seamlessly scale with you and add new resources as needed.
Benefits of SAOS Outsourced Solutions for Nonprofits
Compliance and Accuracy
Having the right technology, processes, and team in place ensures that there are checks and balances and strong audit trails to ensure compliance, timeliness and accuracy. You’ll have peace of mind that the accounting is done right and up to standards.
Real-time, Detailed Reporting
Your definition of reporting shouldn’t be receiving high level financial statements once a month. Financial data should be available to you in real-time at the click of a button, and you should be able to drill down to see performance at the most granular level.
The last thing you need is your employees bogged down by administrative tasks. We utilize technology wherever possible and implement processes that streamline tasks as much as possible.