Attention is Everything
We can talk about our accounting and controllership services… or you can read about the results. See what we did for one area nonprofit!
Challenge
A transportation-based nonprofit had hired a lower-priced CPA firm to perform some of its accounting work. However, they found that firm to be less than responsive. Only one accountant was assigned to their engagement, and that person didn’t reply promptly to questions or concerns. And when that person was absent, nobody else performed the nonprofit’s accounting work.
As a result, the organization was four months behind on their financial statements. Their bank feeds weren’t properly set up in their accounting software, and their accounts payable and receivable were in disarray. Because they weren’t submitting FDOT grant documents timely, they were also far behind in getting their grant money from the state—a huge issue since these grants make up the majority of their funding. And to add insult to injury, the firm’s “lower” fees were offset by out-of-scope bills that nearly doubled their original cost estimates.
Solutions
The organization’s leaders remembered James Moore from an earlier RFP round, so they reached out to us to bid on a new RFP. Once selected, our nonprofit ACS team immediately held an onboarding meeting with them to discuss issues and set up the transition to our firm. This meeting included James Moore personnel from every level, from staff accountant to partner, so the nonprofit’s team could meet everyone and know their roles.
We then cleaned up their accounts payable/receivable, made the necessary adjustments to their books and got their FDOT grant reimbursements up to speed. This allowed us to produce their monthly financial statements in a much more efficient and timely way. Throughout this time we met with their staff and leadership every week to go through open items, answer questions and learn about issues we should monitor.
Results
Through our efforts, we were able to cut in half the lag time for producing financial statements. The nonprofit now has up-to-date financials and is able to get their FDOT grant reimbursements in a reasonable time. We’ve also learned how to do their FDOT reporting so we can back up the person who normally performs this work. Our meetings with their team now occur every other week to keep everyone on the same page. The results are more timely information, fewer gaps in funding and smoother financial operations overall.
Be the First to Hear.
Sign up for our newsletter and have it delivered to your inbox, so you don’t miss a thing.
Stacy Joyner, CPA
Partner
A certified public accountant in Florida, Stacy has been providing extensive tax advisory and compliance services to a variety of businesses and individuals for over 15 years. The leader of the firm’s Accounting & Controllership Services department, her expertise lies in small business and tax accounting, with an emphasis on the healthcare and technology industries. Her knowledge of research credits and other tax-saving opportunities for her clients make her a key member of the Technology and Healthcare Services Teams.
Stacy’s client service approach includes not only her tax and accounting expertise, but also the value she creates through collaboration. A lifelong Gainesville resident, Stacy has deep roots in the business community – allowing her to help her clients make professional connections that can help them grow and thrive.
Stacy is seen as a leader and mentor at James Moore; she enjoys serving as a career advisor and helping staff achieve their career goals. She is passionate about continuing to strengthen and foster the strong family-feel culture found at James Moore. Outside of the firm, she serves as the treasurer for the Rex and Brody Foundation and is an alumnus of Leadership Gainesville 40.
