At Afable Consulting, we specialize in non-profit accounting. We provide a full suite of accounting services designed to ensure the accuracy, efficiency, and financial health of your organization. Our goal is to give you a clear, precise picture of your financial standing so you can make informed strategic decisions. Our Accounting Services include:
Bookkeeping & Account Analysis
- Bookkeeping: We accurately and efficiently record your organization's financial transactions into QuickBooks.
- Account Analysis: We go beyond simple recording by reviewing specific accounts and transaction details. We investigate, explain, and correct unusual or complex items—for example, reclassifying large equipment purchases to Fixed Assets and calculating and recording the appropriate depreciation expense.
Bank & Account Reconciliation
We meticulously compare your bank statements with your internal accounting records to reconcile balances. This process provides you with a detailed list of cleared and outstanding items, allowing us to adjust your records for any missing transactions and resolve all discrepancies.
Financial Statement Preparation & Review
We prepare and review your core financial statements to provide essential insights into your organization's performance.
- Balance Sheet (Statement of Financial Position): A snapshot of your organization's financial condition at a specific time, detailing your assets (what you own), liabilities (what you owe), and equity (your worth).
- Income Statement (Profit and Loss Statement): This statement reveals whether your organization is profitable over a specific period by listing sales/revenues, cost of goods sold (if applicable), and operating expenses.
- Statement of Cash Flows: Tracks how cash is generated and used across three key areas: operating, financing, and investing activities.
Budgeting & Financial Planning
We strongly recommend and facilitate the preparation of an annual budget for both income and expenses. This budget is built upon historical data and incorporates foreseeable changes for the upcoming fiscal year. We then break this down into monthly amounts, enabling you to continuously monitor, analyze, and understand the variances between your actual results and your budgeted goals.
Computerized Accounting (QuickBooks Expertise)
We utilize industry-leading QuickBooks accounting software to manage all your accounting requirements. Should you prefer to manage data entry internally, we offer comprehensive training for your staff. We then provide a crucial monthly review of your financial statements to ensure continuous accuracy and adherence to best practices.
