GLS Financial and Accounting Services

We offer a number of financial, accounting and bookkeeping services for your Fraternity, Sorority, House Corporation or Foundation.  Please reach out to us to learn more.

Accounting Services We Offer

Full Accounting & Bookkeeping Services

  1. Invoice processing & payment
  2. Short-term & long-term budgeting
  3. Balance sheet & income/expense reporting
  4. General ledger reporting
  5. Payroll processing & reporting
  6. Room & board payment processing
  7. Associate member & member housing agreements & contracts
  8. Federal, state & local tax returns
  9. 501c3, 501c7 & 501c9 accounting

Accounting

  • Preparation of customized financial statements
  • Assistance in budget preparation
  • Reconciliation of bank accounts
  • Consultation with problem areas
  • Preparation of IRS form 990 and/or 990N
  • Consultations with chapter treasurers, house directors, and house corporation members

Accounts Receivable

  • Preparation and emailing of member billings
  • Preparation and emailing of member statements
  • Receive payments and make deposits to your bank accounts
  • Daily posting of transactions

Accounts Receivable Management

  • Monitoring of member accounts
  • Collection of problem accounts through national collection agency

Accounts Payable

  • Timely payments to vendors
  • Maintain relationships with vendors
  • Preparation and mailing of checks
  • Preparation of Form 1099

Payroll

  1. Maintenance of employees earnings records
  2. Quarterly tax returns
  3. W-2 forms
  4. Timely tax deposits
  5. Correspondence with IRS
  6. Timely garnishment remittances

Our services utilize QuickBooks Online (QBO), a leading cloud-based accounting platform, to deliver efficient, secure, and transparent financial management tailored to a Fraternity, Sorority, House Corporation or Foundation needs. Key features include: 

  • Real-Time Financial Tracking: Automatically categorize donations, expenses, and grants with bank feed integration, reducing manual entry and ensuring accuracy for cash flow visibility. 
  • Comprehensive Reporting: Access customizable Balance Sheets, Profit & Loss Statements, and Cash Flow Analyses, with export options to PDF/Excel for Board presentations. 
  • Mobile Accessibility: Manage finances on-the-go via the QBO mobile app (iOS/Android), enabling receipt scanning, expense approvals, and report access anytime, anywhere. 
  • Secure Collaboration: Role-based access for the Treasurer and designated CPAs, with automatic backups and audit trails to support IRS compliance and audits. 
  • Integration and Automation: Connect with over 300 apps (e.g., PayPal, Google Workspace) for seamless payment processing and automated workflows, such as batch invoicing and transaction rules. 
  • Tax Preparation Support: Built-in tools for Form 990 preparation, streamlining year-end filings with exportable data for CPA review.

Donor Management Capabilities

QuickBooks Online offers robust tools to streamline a 501C3’s Foundation’s donor management, addressing your need for efficient donation tracking and reporting: 

  • Donation Tracking and Segmentation: Record and categorize contributions by donor, campaign, or fund (restricted/unrestricted) using custom tags and classes, ensuring accurate allocation and transparency. 
  • Donor Acknowledgment: Generate professional acknowledgment letters directly within QBO, customizable with the Foundation’s branding, to thank donors promptly and maintain strong relationships. 
  • Fund-Specific Reporting: Produce detailed reports on donation sources, fund balances, and giving trends, enabling the Board to monitor fundraising performance and comply with nonprofit reporting standards. 
  • Pledge Management: Track pledges and recurring donations, with automated reminders for outstanding commitments, enhancing donor engagement and cash flow predictability. 
  • Integration with Fundraising Tools: Seamlessly connect with platforms like DonorPerfect or PayPal to import donation data, reducing manual entry and ensuring real-time updates. 
  • IRS Compliance: Organize donation records for Form 990 reporting, with exportable data to simplify year-end tax preparation and audit readiness.

These donor management features empower your Foundation to efficiently track contributions, engage donors, and maintain compliance, all within a secure, cloud-based platform accessible to authorized team members. 

Partial List of GLS Accounting Clients:

Delta Chi Fraternity, Delta Chi Fraternity Foundation, Delta Upsilon Fraternity, Tau Kappa Epsilon, Acacia, Delta Upsilon Eductional Foundation, Phi Sigma Rho Sorority, Delta Tau Delta, Kappa Sigma, Delta Sigma Phi Fraternity, and Triangle Fraternity. 

Interested in GLS Services?

Contact us today to learn more about how we can help you!
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