Requity Foundation has experienced significant growth in our programming, staffing, grant funding, and overall operations over the past several years. As we have grown, our financial and accounting needs have become increasingly complex, particularly around managing multiple restricted grants, allocating expenses across programs and funding sources, tracking payroll and fringe costs, and producing accurate financial reports.
We are seeking an experienced nonprofit accounting professional to review our current accounting practices and help us determine whether our systems and processes are structured appropriately for an organization of our size and complexity. We currently use QuickBooks Online and have established accounting and grant-tracking processes, but we would benefit from an outside expert reviewing how we are doing things and identifying opportunities to improve accuracy, efficiency, consistency, and nonprofit financial reporting.
We are especially interested in strengthening our processes around grant accounting, restricted funds, expense allocation, payroll and fringe allocation, monthly reconciliation and closeout, financial reporting, and documentation.
We would like the consultant to review Requity's current accounting structure, QuickBooks setup, financial reporting, and key accounting procedures and provide practical recommendations for improvement.
Deliverables would ideally include an assessment of our current processes; recommendations for improving our QuickBooks and chart-of-accounts structure, if needed; guidance on grant and restricted-fund accounting; recommendations for expense, payroll, and fringe allocation; and a clear month-end accounting/reconciliation process.
We would also like the consultant to identify any accounting practices or internal controls that should be added or strengthened and provide templates, procedures, or written guidance that our team can continue using after the project is completed.
At the completion of this project, Requity will have a stronger, more organized accounting system that can support our continued growth. Our team will have clear and consistent procedures for recording and allocating expenses, managing restricted grant funding, reconciling accounts, and producing accurate financial reports. We will also have greater confidence that our accounting practices follow nonprofit best practices and that the financial information we provide to leadership, the Board, funders, and auditors is accurate and easily supported by our records.
Ultimately, strengthening these systems will allow our administrative team to spend less time correcting or manually tracking financial information and more time supporting Requity's programs and mission.
