CAS+
Client Accounting and Advisory Services
Enjoy dedicated client accounting and advisory services exclusively for LvHJ’s non-audit clients. We call it CAS+.
After decades of involvement in national affordable housing industry audit and accounting standards as well as not-for-profit audits and tax strategies, we understand your world. Although you must observe strict reporting and financial compliance, limited staffing can challenge internal controls or delay timely financial reporting. LvHJ can help.
Access more than 30 dedicated professionals with U.S.-based management oversight and consulting. Choose from our flexible outsourcing structures for timely and cost-effective results.
Whether you want independent accounting oversight, 24/7 support for your finance staff or interim staffing for open positions, LvHJ designs CAS+ solutions that work best for you. We are professionals for good.
Services
Personalize your outsourcing engagement by selecting only the services and team structure that you need. We will design and deliver services monthly, quarterly, annually with effective advisory oversight and proper guidance throughout the year.
CAS+ for Affordable Housing Accounting
Bookkeeping and Financial Reporting
- Record financial transactions, including revenue, expenses, assets and liabilities
- Process client-specific requests such as preparation of supporting documents for internal and external fund transfers and coordination with other departments that handle the actual recording of financial transactions
- Prepare recurring and adjusting journal entries
- Prepare account reconciliation including bank reconciliation
- Prepare financial reports such as but not limited to:
- Monthly, quarterly and annual financial statements
- Account analysis
- Financial reports as required by various stakeholders
- Ensure adherence to generally accepted accounting principles (GAAP) and relevant regulatory requirements
Receivables/Payables Management
- Generate invoices
- Monitor receivables and follow up on outstanding payments
- Create vendor accounts
- Process vendor invoices and vendor expense reimbursements
- Ensure timely and accurate payment of bills and expenses
Budgeting
- Collaborate with relevant stakeholders to prepare annual operating budgets
- Monitor budget performance and provide periodic reports
Audit Preparation
- Prepare audit schedules and analysis
- Coordinate with your audit firm regarding audit processes and facilitate audits
Other Services
- Recommend process and/or internal control improvements
- Assist in setting up accounting systems and procedures
- Prepare and monitor development draw packages
- Prepare reserve pull packages
- Prepare and file Form 571L/571R
- Assist in implementing new accounting standards such as ASC 842 Leases
AND Review of draft audited financial statements (from your audit firm)
CAS+ for Not-for-Profit Accounting
Bookkeeping and Financial Reporting
- Record financial transactions, including revenue, expenses, assets and liabilities
- Process client-specific requests such as preparation of supporting documents for internal and external fund transfers and coordination with other departments that handle the actual recording of financial transactions
- Prepare recurring and adjusting journal entries
- Prepare account reconciliation including bank reconciliation
- Prepare financial reports such as but not limited to:
- Monthly, quarterly and annual financial statements
- Account analysis
- Financial reports as required by various stakeholders
- Ensure adherence to generally accepted accounting principles (GAAP) and relevant regulatory requirements
Receivables/Payables Management
- Generate invoices
- Monitor receivables and follow up on outstanding payments
- Create vendor accounts
- Process vendor invoices and vendor expense reimbursements
- Ensure timely and accurate payment of bills and expenses
Grant Accounting
- Establish a tracking system for grants received and disbursed
- Prepare grant expenditure reports for compliance and reporting purposes
- Ensure adherence to grant-specific regulations and requirements
Budgeting
- Collaborate with relevant stakeholders to prepare annual operating budgets
- Monitor budget performance and provide periodic reports
Audit Preparation
- Prepare audit schedules and analysis
- Coordinate with your audit firm regarding audit processes and facilitate audits
Other Standard Services
- Recommend process and/or internal control improvements
- Assist in setting up accounting systems and procedures
- Review sub-recipient reimbursements
- Assist in implementing new accounting standards such as ASC 842 Leases
AND Review of draft audited financial statements (from your audit firm)
Questions?
Contact:
Charlotte Tay, CPA, CGMA
Partner
