Update on Employee Retention Credit Claims
By Pam Harrison, CPA, Manager, Outsourced Accounting and Advisory Services As part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) enacted in 2020, the Employee Retention Credit (ERC) was established to assist businesses impacted by the COVID-19 pandemic. Unfortunately, the program later became a target for aggressive marketing efforts by ERC promoters…
Wakeup Call: Protecting your Nonprofit from the Banking Crisis
By Elinor Litwack, Partner, Outsourced Accounting & Advisory Services As the 2023 banking crisis unfolds with the recent collapse of Silicon Valley Bank (SVB) and Signature Bank, all eyes are on what happens next. Fueled by the “blame game” and the media frenzy around vulnerabilities in the banking system, many businesses and consumers have lost…
HHS Website Providing Indirect Rate Information is Currently Unavailable
By Paul Calabrese, Principal, Outsourced Accounting and Advisory Services Have you been to the US Department of Health & Human Services’ (HHS) Program Support Center (PSC) website lately? You may have noticed that their Cost Allocation Services landing page is down. The Cost Allocations Services website has historically provided valuable information to nonprofits, colleges and…
Retirement Plan Options during the COVID-19 Crisis
By Jennifer McCahill, CPA, Partner Individuals and organizations are looking for ways to gain access to cash during this time of financial and economic uncertainty. As Congress and the Administration discuss additional aid packages, we are seeing changes to the traditional regulations that would allow individuals and organizations to access funds through retirement plans. There…
Invest Time and Resources to Improve the Month-End Close Process
By Sharon Carbonell, CPA | Manager, Outsourced Accounting and Advisory Services For many who work in the finance department of a nonprofit or for-profit business, the month-end close process is a constant source of strain. Inefficiency and operational ambiguity are sore spots in particular, generally the result of manual data entry, lack of coordination, deficient…
Your Accounting Function Can Become an Organizational Asset with an Accounting Systems Assessment
By: John Pace, CPA, CVA | Partner and Director of Outsourced Accounting and Advisory Services Despite adding accounting staff and implementing new software products, many organizations struggle with significant challenges related to their accounting function. Even with adequate resources and effective leadership, they may still experience issues with providing accurate reports, timely closing of the…
8 Steps for an Easier Audit
GRF Partners Ian Shuman and John Pace and Senior Manager Elinor Litwack recently presented a webinar on planning for an easier audit. Additional information including the webinar recording and PowerPoint slides are available here. The presenters provided 8 key takeaways to make your next audit easier based on years of experience assisting clients as members…