FAQ'S

By definition outsourced accounting is a service that provides a full accounting department to handle all the day-to-day transactions and financial reporting management.

We focus our business on value-add for our clients.  Your business may need a lot of things, but often to find the accounting horsepower that is needed to be DCAA compliant and the necessary reporting for management decisions requires a skill set that is hirable for an internal resource, however may not make economic sense based on the size of the Company.

Outsourced accounting means different things to different companies.

KGRF focuses on government contracting and Unanet as a platform.  Government contracting is a unique industry dealing with Federal and State agencies that requires a specific accounting skill set.  Our firm has focused our employees on government contracting.

At the on-set of each engagement we gain a deep understating of:

1. Customer billings,
2. Employee payroll, and
3. Vendor payments

Once we have an understanding of these areas, we continue to learn about your company’s management needs and develop a relationship for actionable financial reporting. 

It has been our experience, that our platform of outsourced accounting provides clients the confidence to make informed decisions as they are growing.

Our clients are government contracts working for Federal and State agencies.

We seek clients that are on Unanet or moving to Unanet as their accounting/ERP platform.

Our typical client life cycle:

Remember – outsourced accounting means different things to different companies.

• Startup – Day 1: KGRF will assist as needed to develop all start up pieces from accounting set up, payroll providers, banking relationships to understanding the details to be effective in the government contracting industry.
• Operating business that need a stronger accounting platform: Businesses that have been operating for years and may need a change to match their growing operations. Frequently companies come to us because they need government contracting as they perform more work for Federal and State agencies and need to understand the ‘what’ and ‘how’ to perform as a government contractor.
• Operating business that require more strategy and policies: We have performed several general ledger implementations and pivoted existing operations to adhere to government contracting standards.  Not limited to complete indirect rate structures and focus on forecasts for future calculated bets.
• Business seeking a sale or purchase transaction: Year-over-year our approximately 10% of our client portfolio are from clients that are entering a sale transaction, seeking a purchase transaction to expand their business or key members leaving buyer after their company sold. We have helped several businesses from start to finish.

Outsourced accounting means a lot of things to many different businesses.  It is also economical at some business levels and is not logical in other situations.  It is important to understand the ‘what’ is needed and we can help with the ‘how.’  Our mission has always been about helping clients and sometimes that means telling clients that our model no longer makes sense for them.

Short answer, yes.

Long answer, generally for government contractors there are two major inbound expenses – employee payroll and subcontractors.  Creating a specific swim lane to handle these inbound expenses are imperative for proper reporting and DCAA controls.

Outsourced accounting at the root is handling the details to create a usable financial report for decision making.

When the accountant handles the inbound expenses, they are effectively creating a pathway to post expenses in a manner that will be presented to the correct project via the correct expenses account(s) and billed to the customer.  Ultimately these revenues and expenses are reported on a Job Summary Report (mini income statement by project).

We are a boutique accounting firm that focuses on government contractors. 

KGRF Group (Co-Founded by KG – Kathy Fuller {Goldberg maiden name} & RF – Ryan Fuller) have had similar career paths.  Both spend several years at national public accounting firms to leave and establish careers in private accounting ultimately earning titles of CFO.  After several years of being CFOs they decided to open their own firm and work for themselves.

Day one (2005) of KGRF Group was literally to teach Ryan internal accounting (public accounting is about compliance and taxes, whereas, private accounting is about operations).  At this point Kathy had more years of experience and their first client was engaged.  Coincidently, we still have this client today!

In 2010, Kathy went full time in KGRF Group and in 2015 Ryan did the same.  The transition was natural because the client base was growing rapidly, and full-time efforts were needed.  Fast forward to today and KGRF Group has grown year-over-year.  All employees have advanced degrees and certifications and it has always been at the root of KGRF to serve their clients in the best way possible.

For us, given our backgrounds, their was always inherent frustration working for large firms or companies where the value structure didn’t make sense.  We focus on government contractors because that is where our knowledge base is, we focus on client engagement because we want our clients to grow and sometimes that means clients grow out of our service platform (this is great!).  We wanted options to provide value and flexibility to say ‘no’ when the business logic does not make sense.