OUR SERVICES:
ACCOUNTING
Accounting Services
Symphony brings over 50 years of accounting experience and offers a full range of services, including reconciliation, budgeting, profitability analysis, staff training, and employee resources. All engagements, big or small, receive the same level of dedication and commitment for which we are known.
Training
Continuous learning is vital for the success of your credit union, including staff and volunteers. With years of industry experience, Symphony can equip your team with the knowledge and skills to make informed decisions, oversee financial stability, and navigate regulatory complexities. Education is available on a range of topics including accounting principles, financial statements, analysis, budgeting, policies and procedures, and key ratios, as well as required BSA training for staff and board members. Symphony’s programs are customizable to fit any need, including one-time training engagements and ongoing education designed to facilitate professional growth for middle and upper management positions.
Reconciliation
Ongoing account reconciliation is a critical step in an efficient accounting process that ensures financial records are accurate and reliable. Symphony offers reconciliation assistance for all general ledger (G/L) accounts including loans, investments, suspense, income, and expenses. Including corporate account reconciliations related to ACH, share drafts, debit and credit cards, cash letter deposits, and corporate drafts (business checking) processing and settlement. For additional information, see the Benefit Statement below.
Financial Statements & Budgets
Careful preparation and review of key financial statements provide management and boards of directors with an accurate and complete overview of a credit union’s financial performance. They also supply key staff and volunteers with the information needed to make informed decisions and assess regulatory compliance. Symphony is experienced in the preparation and review of all required financial reporting. Our consultations are ready to assist with the preparation and review of required financial statements, including balance sheets, income statements, cash flow statements, equity statements, and budgeting statements.
Call Reporting
Timely and accurate submission of 5300 Call Report financial data is a regulatory requirement for all federally insured credit unions. Symphony understands the necessity of this reporting and offers the experience needed to produce accurate reports that strictly adhere to NCUA guidelines on behalf of your credit union. To assist our clients with this critical function, Symphony offers temporary or ongoing assistance with the preparation or validation of call report data.
Policies & Procedures
Sound accounting policies and procedures are critical for effective management and reporting of a credit union’s financial activities. These internal controls provide a strong framework that promotes consistency, accuracy, and compliance with applicable accounting standards and regulations. With years of industry experience, Symphony helps with developing new internal controls or a thorough review of existing ones.
RESOURCE