FAQ

At what point does my nonprofit need a finance and accounting team?
Your financials are critical to the management of your organization. Unless you have a good grasp of your current and projected finances you won’t know where to focus fundraising efforts or how to manage cashflow. Once you start receiving donations you need to be able to track and report on the funds so you’ll need good systems in place. Also, some funders will not support organizations without strict financial accountability. So start as soon as possible!
How much can FMJ save me if I work with them?
Just think of all the time and energy you could be spending on your mission by having someone else worry about the finance and accounting. Our staff works with you to set up systems that ensure success. We are efficient because we are experts in nonprofit accounting and get your accounting done right the first time.
If I have an internal finance team do I still need FMJ?
We can help with annual audit preparation for that critical year-end crunch. We can fill temporary or permanent gaps in financial staffing at any level that you may need. We can also provide CFO-level staff to oversee your existing finance and accounting personnel to make sure everything is done properly.
What is the difference between bookkeeping and accounting services?
They go hand in hand. Bookkeeping is a basic level of accounting services that focuses mainly on transactional data entry. Accounting delivers a deeper level of financial understanding and accountability by taking the books and providing detailed analysis. Both are critical to your organization.
I’ve been doing the books myself for so long – do I have to let go of the control of my transactional records?
Not at all. At FMJ we work with you as a trusted partner and advisor. We take the worry off your shoulders, but you will understand exactly what we are doing each step of the way.
Does FMJ perform audits?
FMJ does not perform audits. Our goal is to treat every transaction as if it will be audited one day, so we’ll carefully manage your day-to-day procedures for future audit success. When it comes time for your annual audit we will work closely with your auditors and prepare the necessary schedules so that the audit goes smoothly.
Does FMJ prepare tax returns?
FMJ prepares sales tax returns, and Form 1099s for contractors. FMJ does not prepare Form 990 information returns, but works closely with your audit firm to ensure the paperwork is completed in a smooth and timely manner.
I’m looking for a complete accounting team to do day-to-day bookkeeping with CFO level financial reporting. Can FMJ provide that level of service?
Absolutely! With our Full Service Accounting package, our staff becomes your finance team and can fulfill all of those duties.
I need a CFO level person onsite one day per week. Can FMJ provide that level of service?
FMJ has excellent CFO level staff to provide the services you need on the schedule you request. We can also help assess your current accounting activities and make recommendations to ensure you’re getting the right services.
FMJ, LLP

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