What We Do: Accounting on DemandA 2009 study by CFO Magazine reports that the average mid-sized organization is spending $1.2 million annually to maintain their on-site enterprise resource planning (ERP) solutions, which are largely financial-software centric. When coupled with record staffing turnover, changing employee requirements and a growing array of new accounting compliancy needs, it no longer makes sense for mid-sized organizations to lock themselves into technology and employee contracts.Corefino customers can reduce costs by up to 40% per year by using our ‘Triple Play’ solution to handle their organization’s routine accounting in the new, proven accounting on demand framework. And because it is not a software vendor, but an accounting solutions enabler – it is software agnostic. Corefino is partnered with many SaaS accounting solution providers; it will match the right technology solution, to the right people and the best practices ….that are right for growing mid-sized companies.A Best Practices/Workflow FrameworkOffering a unique combination of software-as-a-service (SaaS accounting), business process outsourcing (BPO) and a custom-built technology portal, Corefino clients immediately benefit from the integration of our Best Practices/ Workflow framework which includes the following capabilities:
Comprehensive GAAP-based AccountingCorefino adheres to GAAP accounting frameworks, financial statement conventions, and accounting law across all areas of accounting.
Includes payable processing, payroll processing, credit card reconciliation, expense reimbursement, and 1099s.
Corefino provides invoicing, commissions processing, and revenue recognition.
Balance Sheet Accounting
Corefino provides bank reconciliations, general ledger, account analysis, cash flow and flash reports.
Corefino processes all cash receipts and disbursements, and prepares weekly cash status reports and monthly bank reconciliations.
As a client, you will receive monthly, quarterly and annual financial statements, including Balance Sheet, Statement of Cash Flow, Profit and Loss from Operations, Expense summary, Actual vs. Budget analysis, month-over-month variance, equity capitalization and stock option accounting.
Corefino will establish and document accounting best practices for your accounting processes, as well as recommend internal controls for company-wide processes.
Corefino provides a review of all financial contracts, as well as assembles and delivers A/R data for collection efforts and monthly cash receipts processing.
Diligence, Audit and Tax Services
Corefino will prepare and deliver accounting documents as required for diligence requests, external audits, and for assisting with your annual tax preparation.
Corefino guarantees that you will always be ready to address any financial or business event.