Accounting & Bookkeeping

Accounts Payable

Our accounting and bookkeeping services are designed to meet the specific needs of your business and promote transparency, timeliness, reliability, and accuracy in reporting. We save you time and money and help ensure that your business is financially sound and compliant allowing you to focus on growing your business.

Paying bills is probably one of the most underrated accounting functions. Yet, transactions in the accounts payable process accounts for more than 50% of most accrual basis business entities. We at GMA understand the importance of this function and train our staff to give it the care and attention it needs.

Paying bills on time leads to more complete books and records.
Taking the time to code transactions properly leads to more accurate financial reports.
Entering clear transaction descriptions promotes efficient reviews of the books without having to revisit source documents for clarity.

We have also partnered with BILL (formerly known as Bill.com) to make the Accounts Payable process more effective and efficient. It is a cloud-based bill payment platform that works well with all clients but especially for those in a hybrid or remote work mode. It eliminates the need to print checks, is inexpensive, and has the built-in security and controls that minimize risk exposure.

Payroll

Figuring out how to process payroll can be intimidating, but GMA will take that worry away from you. We will handle everything including employee data collection, payroll calculation, and pay disbursement.

Daily Transactions

Entering credit card and other daily transactions can be a tedious and time-consuming task. To reduce the tediousness of this function, GMA has partnered with Expensify and Concur to offer our clients an efficient and effective to capture both debit and credit card transactions. We would be happy to demonstrate how this works.

Accounting for Grants & Contracts

GMA can help you develop budgets for grants and contracts and design a fund accounting system to accurately track and report grant expenditures to grantors. This is particularly important for government reimbursement-type grants and contracts where timely and accurate submissions are needed to maintain a healthy cash flow.

Financial Reporting

Financial reporting is the process of documenting and communicating financial activities and performance on a monthly, quarterly or yearly basis. At GMA we understand the importance of delivering timely financial reports. We believe that they should be prepared from accounting data that is complete and accurate or else they would be misleading to stakeholders. We do not just deliver a spit out from the accounting software but invest the time and effort in designing and customizing reports that are meaningful to the reader. We also include narratives and analytics that make the raw data more understandable.

Budgeting & Forecasting

A budget is a plan that shows you how you can spend your money on a monthly or annual basis. It helps you make sure you do not run out of money and also helps you save money for your goals or for emergencies. But for a budget to be an effective management tool, it must contain only realistic income and expenditure estimates.

At GMA, the budgeting process is much more involved than taking the prior year’s actuals and then rolling them over with a 5% adjustment for increases. We help you develop an accurate budget by designing and managing a process that includes the consideration of sound income and expenditure assumptions, adequate reviews and revisions, and ends with the presentation of a defensible budget to your Board of Directors for discussion and approval.

As the fiscal year unfolds and new trends and developments are realized, we introduce forecasts and cash flow projections to track performance.