Financial Reporting
Financial Reporting Services for Nonprofits and Businesses
Every organization needs a reliable and well-structured financial reporting system to maintain clarity and plan effectively for the future. If you don’t have an in-house accounting team, partnering with an outsourced accounting can help keep your finances on track. At West Michigan Specialized Accounting Services, our team of experienced Certified Public Accountants (CPAs) is here to handle your financial reporting needs with precision. With us, we guarantee your records are accurate, organized, and aligned with your long-term goals.
Our financial reporting services for nonprofits and small businesses are customized to meet the unique needs of each client. And, while every organization is different, we often provide a similar set of services that include, but are not limited to:
- Compilation of financial statements and reports
- Budget to Actual analysis
- Inventory tracking and analysis
- Financial reviews and risk assessments
- Location-specific reporting
- Account reconciliation
- Fixed asset and depreciation reporting
Our Financial Reporting Services Process
Discovery
We analyze and review your finances, learn what kind of reporting you are looking for, what available software or services you want to use for reporting (if applicable), and look through past reports to see how historically reporting has been handled by your nonprofit or small business.
Review
We use all data and information gathered to plan a design for a financial reporting system that will best benefit you. Our experience means we can determine, based on what we see at your organization, what will work best for you and provide the most thorough data for your needs.
Service
We implement best practices for your financial reporting, helping you to know where every cent is spent for your nonprofit or small business. This helps to better understand your costs, profits, ROIs, and can, into the future, guide things like KPIs.
Financial Reporting FAQs
What kinds of reporting do you provide?
We provide a full range of standard financial reports, including the Profit & Loss Statement (Income Statement), Balance Sheet, and Statement of Cash Flows. We can also create custom reports tailored to your needs, such as budget vs. actuals, grant or program-specific reports, and management dashboards to help you make informed financial decisions.
We used to have financial reporting done in the past. Can you make your reporting similar?
Yes, we can tailor our financial reporting to match the format and style you’ve used previously. During onboarding, we’ll review your past reports to understand what worked well and replicate key elements, while also suggesting improvements if needed. Our goal is to make your transition smooth and ensure the reports remain useful and familiar to your team and stakeholders.
Can we change our targets for reporting?
Yes, you can update or change your reporting targets at any time. We work closely with you to adjust financial goals, metrics, and report formats as your business needs evolve, ensuring your reports always provide the insights most relevant to your current priorities.
