Central Source Inc

Business Solutions Tailored for Your Organization

Bookkeeping service in Norwood, MA (show on map)

4.0

★★★★☆

8 reviews

Central Source offers customized business management solutions for nonprofits, focusing on efficiency, automation, and mission-driven financial oversight.

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About

Central Source has been serving nonprofits with tailored business management solutions for over a decade. Specializing in nonprofit accounting, they offer services including accounting system design, cloud-based bookkeeping, grants management, compliance & annual audit, and strategic budgeting & forecasting.

Their focus is on efficiency, automation, and ensuring accurate financial information to support mission-driven organizations.

Exclusively serves nonprofits

Over 10 years of experience

Cloud-based accounting solutions

High client satisfaction rates

Fraud prevention and internal controls

Services

Accounting System Design

We’ll work with you to create an accounting and financial reporting system that fits your business, including an organization-specific chart of accounts, policies and procedures, and secure, cloud-based bookkeeping. Our goal is to provide a risk-averse system of information that is consistent, timely, and driven to your organization’s needs. When it comes time to increase your in-house capabilities, you can rely on us to provide training and ongoing support. We’ll assess your organizational structure, outline roles and responsibilities, and even assist with recruiting efforts.

Custom chart of accounts Policies and procedures Cloud-based bookkeeping Training and support

Cloud Based Bookkeeping

We partner with Bill.com to provide a cloud-based, paperless accounts payable system that integrates directly with your accounting platform. By elevating your business to the cloud, tools like direct bank feeds and digitized credit card receipts help streamline your day-to-day operations and provide you with the information you need, wherever and whenever you need it.

Cloud-based platform Direct bank feeds Digitized receipts Integration with accounting software

Accounting Management

Our ongoing accounting management services include a monthly review and reconciliation of your general ledger and corresponding schedules. Additionally, we’ll prepare, analyze and interpret your monthly financial package. Planning something big? We have the experience and expertise for complex accounting transactions, including real estate closings, new market tax credits, construction requisitioning, capital leases, and more.

Monthly review and reconciliation Financial package preparation Complex transaction expertise

Grants Management

We’ll manage the grant process from start to finish, from requesting, receiving, tracking and allocating, up to the final reporting required by the grantee. We stay up to date on government agency requirements, including uniform guidance standards, and remain aware of the intent of all granted funds, restricted or unrestricted, to ensure proper classification.

Full grant lifecycle management Compliance with uniform guidance Proper fund classification

Compliance & Annual Audit

We provide fiscal policy oversight with relevant accounting standards expertise, including implementation of best practices. When it comes time for your audit, you can rest easy knowing your accounting information is audit-ready. We are aware of all the necessary timelines and deadlines required by your board, auditors, outside stakeholders, and government agencies.

Fiscal policy oversight Accounting standards expertise Audit readiness

Strategic Budgeting & Forecasting

We’ll work with you to create a budget aligned with your mission, projecting out multiple years that account for your short and long-term goals. We’ll provide you with an ongoing analysis, so you’re always aware of how your organization is performing.

Mission-aligned budgeting Multi-year projections Ongoing performance analysis

Credentials & Certifications

Certificate in Accounting

Since 2000

Master’s in Management

Since 2005

Reviews

Rating

★★★★☆

Reviews

Frequently Asked Questions

What is the average savings with outsourcing to Central Source? +

Central Source reports an average savings of 30% for clients who outsource their accounting and finance operations.

What percentage of Central Source’s clients have a 3-star or higher rating with Charity Navigator? +

90% of Central Source’s clients maintain a 3-star or higher rating with Charity Navigator.

What percentage of Central Source’s clients were victims of fraud prior to joining? +

28% of Central Source’s clients experienced fraud before partnering with the company.

How does Central Source ensure high ratings and internal controls? +

Central Source implements proper internal controls and automated solutions to mitigate risk factors, helping clients achieve high ratings on platforms like Charity Navigator.

What types of organizations does Central Source work with? +

Central Source works exclusively with nonprofit organizations, including charter schools, private schools, religious organizations, community organizations, humanitarian organizations, and environmental organizations.

What are client testimonials for Central Source? +

Clients praise Central Source for its expertise, efficiency, and ease of working with the team. For example, Alice Sheehan from Alma del Mar Charter School highlights the value of Central Source’s support, while Kendra Salvador from Martin Luther King Charter School calls it the best company they have ever worked with.