Agencies require accurate preparation and posting of financial transactions with audit defensible supporting documentation. Empirical has extensive experience in completing analysis and posting accurate accounting transactions to confirm the accounting treatment of the financial management activities complies with the applicable statutes, regulations, and standards of the federal government, including FASAB Accounting Standards, OMB Circulars, and the Chief Financial Officers Act. Our accounting operations services support financial management accountability, a strong internal control environment, and audit risk mitigation.
Agencies struggle to complete timely transactions to comply with Federal regulations due to inefficient financial and reporting legacy systems, data silos, manual processes, unfamiliarity with new mandates, and lack of expertise with complex financial ERPs.
Our accounting operations services encompass proven, adaptable, and scalable methods and processes that leverage industry best practices, a suite of automation tools, and our 20+ years of financial management expertise and successes. Empirical offers the following accounting services:
- Perform appropriated, reimbursable, and trust accounting functions, and general ledger reconciliations
- Process vendor payment requests, award updates, adjustments, and recipient expenditure data, correct data rejected by financial systems, and oversee the Federal payment process
- Comprehensive internal finance reviews
- Automate complex accounts payable receivable accruals, corrections to recovery balances, and other large recurring transactions
- Reviews of reimbursable agreement and open obligations documentation to validate that the accounting treatment is appropriate and consistent with applicable accounting standards