Q&A with Rocky Davidson, CPA of Qbix Accounting Solutions on Outsourced Accounting Services for Nonprofits

Rocky Davidson, CPAQ&A with Rocky Davidson, CPA of Qbix Accounting Solutions on Outsourced Accounting Services for Nonprofits

Q: Outsourcing isn’t a new concept, but it is relatively new to nonprofits, why is that?

Rocky Davidson, CPA: It’s a new business model. It’s a departure from what most nonprofit professionals are familiar with. It’s a powerful business model that executive directors, board members and other stakeholders should explore and consider. For years, major corporations have used private networks and expensive IT hardware and software to centralize their accounting and finance functions. The result is lower costs and improved efficiencies.

Now thanks to advances in cloud-based software, deployed and accessible over the internet, Qbix Accounting Solutions can provide the benefits to nonprofits that were previously unavailable.

Q: What exactly do you provide to nonprofit organizations?

Rocky Davidson, CPA: We provide nonprofits with the technology and the accounting talent. For a fixed, budget friendly monthly fee – we call it a Fixed Price Agreement – we provide the IT solutions and a team of accountants. Most nonprofits need bookkeeping help. Most nonprofits need the guidance of Finance Director. But few of them need those positions on a full-time basis.

We assign a team of accountants to handle the organization’s accounting needs. We can handle accounts payable, accounts receivable, payroll, budgeting and financial statement production, and we analyze profitability performance to identify opportunities to improve efficiency and achieve optimal stewardship. We handle most of the back-office functions so that Executive Directors and their management team are free to focus on how to better manage programs, seek new sources of funding and fulfill their mission.”

Q: So how does it work? I’m executive director and I decide to outsource my accounting – what does that look like?

Rocky Davidson, CPA: Think of it this way, the same type of networked computing platform that makes it possible to store your photos and music in the cloud and access them whenever and where you want – is the same type of network and platform behind the financial and accounting outsourcing at Qbix Accounting Solutions.

Source documents such as invoices are scanned and transmitted electronically to Qbix Accounting Solutions where our accounting professionals enter the data in the appropriate financial accounts and prepare bills for approval and payment. In most cases we are able to completely do away with check writing – we refer to it as the Check Free CEO. In essence, you can actually approve and pay bills with your smart phone.

Digitizing all source documents also creates a great audit trail. We make sure the organization has the information they need to make decisions on how to improve effectiveness and optimal stewardship. All of the products Qbix Accounting Solutions use offer bank level security to keep your data safe.

Q: With all the benefits, why hasn’t outsourcing been more widely adopted by nonprofit organizations?

Rocky Davidson, CPA: When people do learn about what we offer, they are intrigued. Some organizations that have had the same bookkeeper for 25 years and are loyal to that employee – and we understand completely. In that case, I just say “call us if your bookkeeper decides to retire or gets over-loaded”.

Other Executive Directors are simply wary of doing something new. However, as cloud-based services become more widespread in the nonprofit sector, I believe it will catch on very quickly. One thing we hear from our clients repeatedly is, “I wished I had outsourced years ago.”

Q: Besides working with your client base, how do you get the word out about Qbix Accounting Solutions and outsourcing?

Rocky Davidson, CPA: We support the Georgia Center for Nonprofits. We have sponsored and exhibited at nonprofit events such as the n4a national conference and the Meals on Wheels national conference. We’re looking forward to returning next year as well as exploring new conferences to attend.

Editor’s note:

Rocky Davidson has been at the forefront of bringing the economies and benefits of outsourcing to Nonprofits since 2008. The AICPA recognizes this new paradigm of outsourcing accounting services as a high growth area for CPA firms across the country.  They recently came out with a new certification for “Client Accounting Advisory Services”.  To obtain the certificate, you should certainly be providing those services, which Qbix has been on the forefront of.  In addition, there are a number of online courses to take and a 2-day class Davidson took at the AICPA’s headquarters in New York City.  Rocky Davidson is the first, non-insider, to receive this designation in the country.  Davidson is also on advisory committee for the new designation.

About Qbix Accounting Solutions

Rocky Davidson, CPAQbix Accounting Solutions opened its doors in the middle of the Great Recession, but gained clients because of its ability to lower costs and deliver great management information. Although word of mouth helped the firm gain traction, most nonprofit organizations are still unaware of the ability to outsource their finance and accounting functions.

Qbix Accounting Solutions is located in Macon, GA and serves nonprofits in Georgia and throughout the Southeast region of the United States. The firm works primarily with nonprofits between $300,000 and $10,000,000 in annual budget. All of Qbix Accounting Solutions marketing efforts are now focused on nonprofits. Qbix has significant experience in nonprofit reporting and solving nonprofit accounting challenges.