Transaction Processing, Financial Close, and Reporting
By optimizing your back-office, you can improve the effectiveness of your accounting and finance, payroll, project costing, and other accounting functions.
Day-to-Day and Routine Accounting Services
We provide outsourced accounting services to our clients on ERP systems ranging from QuickBooks to SAP and Oracle. Using an agnostic accounting system approach, we will work with your team to set up all current accounting systems on your existing platform or can offer QuickBooks, NetSuite and Microsoft Dynamics managed software solutions. We provide automated accounts payable and expense solutions on Bill.com, Coupa, Expensify, Concur, and others, integrating our solutions with your ancillary software solutions and financial institutions. We’ll help you save time and money by working with your leadership team on procedural changes, improvements from chart of accounts, financial reporting, and internal controls practices. We can train and manage your team or serve as your team to keep you moving forward.
Preparation of Financial Statements
We will help you prepare monthly, quarterly and annual financial statements, perform monthly reconciliation of balance sheet accounts, prepare all required journal entries, month-end close, and cash flows statements and projections. We can formulate annual budgets for your organization, and financial reports for stakeholders that can include a narrative analysis of the current financial position and recommendations.
Year-End Audit Readiness
With former CAOs and CFOs on our team, we have the skills to help you successfully navigate the challenges and potential changes of the business landscape. Our team will work with company management to help you prepare for upcoming audits and support you throughout the audit process.
Billing and Invoice Preparation
Business owners, CFOs, and other leaders have a long list of responsibilities. Our team will help shorten that list by handling your customer invoicing and receivables. We can also research and implement innovative apps to increase efficiencies and streamline processes across the board.
Accounts Payable Processing
We offer various automated solutions for processing accounts payable , credit cards, and expense reports that provide transparency and visibility to our clients throughout the process. We also provide year-end processing of Form 1099 to ease the tax reporting burden of paying your vendors.
Leveraging the latest automated processes and technologies, we can help you reduce the hours required for a range of administrative processes related to employee payroll. Our services can help you streamline the hours you spend on reporting, payroll calculation and processing, document/records management, and related compliance preparation.
Management and Investor Financial Reporting and Disclosures
We help you meet the challenges of new accounting standards head-on by assessing the impact of GAAP or IFRS adoption on your business. From conversion and implementation to creating financial statements and disclosures in accordance with the GAAP and IFRS standards, our services include complex consolidation financial reporting, SEC financial reporting, financial and cash modeling, REIT reporting and testing, and budget versus actual analysis.
Lender Covenant Calculations and Reporting
From accounting for complex business transactions to investor and lender reporting, our lender and investor compliance and reporting support is scalable, flexible, and transparent. We can prepare monthly draw requisition and supporting documentation in accordance with financing documents as well as make all necessary calculations for covenant certificates, waterfall calculations and distributions. Furthermore, we can also provide requisite reporting to lenders and investors.
To help protect your company from potential fraud, we can evaluate your current internal controls, including those impacting intercompany accounting and separate entity management. We will help you establish robust policies and procedures around accounting processes.
Budgeting and Forecasting
Our team can deploy services across a range of back-office accounting, budget planning, and financial forecasting procedures. Our services include spend analysis, revenue cycle analysis, financial close and reporting processes, budget and forecasting cycle analysis, cash forecasting, aging analysis, and more.
Financial Reporting and Compliance
Providing regulatory agencies and stakeholders with accurate and timely financial reporting is critical for many businesses and industries. Whether it is producing monthly financial statements or other reporting required by your lenders, investors, or board, we can help you maintain compliance and transparency with key stakeholders.
Automated Tools and Efficiency
CohnReznick invests significantly into automated tools and technology that enable our professionals to be efficient and effective. Our focus on cutting edge workplace tools and technology is a differentiator that delivers cost savings to our clients and streamlines work processes. Our tools and technologies also provide the ability to back up all work papers, tax returns, and permanent files.
Private Client Services (Family Office Services)
Using a hands-on, partner-led approach, CohnReznick helps private businesses, high net-worth individuals, and family offices preserve their wealth as well as more effectively manage their estates and, when the time comes, ensure their legacy is realized.
A smooth and cost-efficient audit process can depend on how well-prepared you are – and that preparation needs to happen well ahead of the audit. Our highly experienced audit consultants can help your company prepare for a pending audit by providing critical audit readiness services. These may include timeline and project management, work paper and other document preparation, balance sheet review and reconciliation, and more.
We help CFOs transform their financial function to actively support their company’s strategic growth objectives while reducing the costs of compliance and transactional processes. Through ongoing services, or as your acting CFO, we will help shift the time and resources of the finance function to allow you to focus on your organization’s strategic objectives.