The Charity CFO

APRIL 12, 2022

Cash flow isn’t just an issue for small nonprofits that depend on donations to meet payroll each month. A lack of cash on hand impacts nonprofit organizations of all sizes. A few years ago, we were working with a fully-funded nonprofit. . On paper, they were a flourishing organization— a model of nonprofit success.

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Nonprofit Accounting CFO Accounts Payable 105

The Charity CFO

APRIL 1, 2024

Implementing technology into your nonprofit accounting process can help solve a variety of issues—from tracking receipts to properly recording donations. In most cases, technology helps improve the efficiency and accuracy of nonprofit accounting. Nonprofits are subject to a lot of legal and financial scrutiny.

Nonprofit 52

Nonprofit Accounting CFO Accounts Payable 52

PYMNTS

NOVEMBER 3, 2020

Nonprofits’ unique revenue models are causing them to struggle more than most other businesses during the ongoing COVID-19 pandemic. Nonprofits have had to manage shifts to remote work, determine how to receive digital funding on a greater scale and evaluate the ways they make payments. Familiar payments face financial friction.

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Nonprofit B2B Invoicing Budgeting 64

The Charity CFO

APRIL 25, 2024

For nonprofit organizations, accounting comes with a lot of complexity. In this case study, we’ll explore real stories of nonprofits who have transformed their organizations by using technology to streamline their financial infrastructure. What is the actual goal in a nonprofit accounting setup?

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Nonprofit Accounting CFO Auditing 52

The Charity CFO

JUNE 7, 2023

Nonprofit financial statements. Nonprofit Financial Statements You are likely familiar with the different nonprofit financial statements that are typically included in a reporting package: Statement of Activities Statement of Financial Position Statement of Cash Flows Statement of Functional Expenses But we’d like to dive beyond the surface.

Nonprofit 52

Nonprofit Accounts Payable Budgeting Financial Analysis 52

The Charity CFO

MARCH 27, 2024

QuickBooks is a popular accounting software used by businesses and individuals nationwide. As a nonprofit leader, you’ve probably heard of QuickBooks or may have even used it before. And you might be wondering if you can use QuickBooks for your nonprofit accounting. Nonprofits also need to record expense receipts.

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Nonprofit Accounts Payable Compliance Invoicing 40

The Charity CFO

FEBRUARY 8, 2023

Does your organization pay close attention to your nonprofit statement of cash flows? While these are important components of a nonprofit’s success, the statement of cash flows is critical to understanding the timing and sources of cash moving in and out of your organization. What is the nonprofit statement of cash flows?

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Nonprofit Accounts Payable CFO Concentration 52

PYMNTS

APRIL 12, 2016

Nonprofits can face greater pressure than their for-profit peers when it comes to compliance. Making sure the books add up properly is key to keeping their legal nonprofit status, and that means cash management is paramount. Nonprofits are well-positioned to benefit from virtual credit cards,” the report concluded.

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Nonprofit Accounts Payable Reconciliations Cash Management 40

PYMNTS

NOVEMBER 9, 2016

Nonprofits, however, have to not only ensure they fall in line with corporate-facing regulations around processes like payroll and cross-border payments, but, explains Dan Murphy at nonprofit software firm Abila , the compliance stakes are higher, more numerous and more complex than they are at the typical for-profit firm.

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Compliance Nonprofit Accounts Payable Vendor Management 69

PYMNTS

APRIL 8, 2020

Global accounts payable software company Tipalti said Wednesday (April 8) it will waive fees for guilds, nonprofits, and trade groups to assist them in getting cash to their members during the coronavirus crisis. “We

Nonprofit 52

Nonprofit Accounts Payable Currencies Banking 52

PYMNTS

APRIL 28, 2020

There are more tools available than ever to help SMBs move their accounts payable (AP) and accounts receivable (AR) processes forward to become more efficient. Moving from paper to digital has evolved for business-to-consumer (B2C) payments in recent years, but upgrading business-to-business (B2B) payments has taken longer.

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Invoicing B2C B2B Accounts Payable 94

PYMNTS

APRIL 30, 2019

These cases include individuals and family offices with business-sized needs, with business-sized challenges in accounts payable, expense management and payroll. “There is a specific need for these families,” she told PYMNTS in a recent interview.

Corporate Finance 61

Corporate Finance Accounts Payable Finance Invoicing 61

The Charity CFO

JULY 19, 2024

Their primary role is to ensure that all transactions are entered into the accounting system with accuracy and consistency. An accurate bookkeeper helps a nonprofit maintain financial transparency and accountability by making it easy to track how funds are received and spent.

CFO 52

CFO Accounting Nonprofit General Ledger 52

The Charity CFO

MARCH 2, 2022

“I don’t know if my nonprofit’s accounting systems are bad… and I probably won’t know for sure until something bad happens.”. 99% of nonprofit founders we work with don’t have a background in finance. For more nonprofit accounting resources check out www.thecharitycfo.com. ?? A Modern Nonprofit Podcast.

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Nonprofit Auditing Reconciliations Accounting 98

The Charity CFO

OCTOBER 12, 2022

Since nonprofit organizations don’t profit from the money they make , the accounting processes for nonprofits look somewhat different than for-profit companies. And one of the key differences is that nonprofits talk about net assets rather than net income or equity. Understanding Nonprofit Net Assets.

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Nonprofit Accounts Payable Accounting CFO 52

The Charity CFO

OCTOBER 9, 2024

Modern nonprofit leaders are always looking for ways to use technology to make everyday tasks easier. One of the most sought-after tools is a platform or software to integrate your fundraising and accounting data seamlessly. Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance.

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Accounting GAAP Nonprofit Accounting Principles 52

PYMNTS

SEPTEMBER 26, 2019

The program will also work with the nonprofit Business for Social Responsibility (BSR). Mastercard is aligning with clothing retailers in a global effort to digitally pay factory garment workers to ensure they consistently get paid, the company said in a press release on Thursday (Sept. Industry partners include Levi Strauss & Co.,

Retail 52

Retail Accounts Payable Nonprofit Accounting 52

PYMNTS

JANUARY 4, 2019

Through the “Don’t Be a Mule” campaign, the FBI has been warning that the fraudsters are targeting companies, schools and nonprofits across the United States. In a smattering of headlines, news came this past week from Georgia, where an account manager at a dental firm stands accused of stealing about $84,000 from customers.

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Accounts Payable Nonprofit Accounting Banking 63

PYMNTS

APRIL 10, 2020

Wells Fargo said it would disperse $10 billion to nonprofits and companies with under 50 employees as part of the Paycheck Protection Program (PPP). The accounts payable (AP) process, to a large extent, remains stuck in a predigital time and is governed by checks as well as paper-based invoices.

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Healthcare Accounts Payable Invoicing eCommerce 86

PYMNTS

DECEMBER 5, 2019

After all, money exits a company through more than one avenue, whether it be via the accounts payable department or a firm’s own employees. Understanding businesses’ biggest payment pain points requires a wide line of sight.

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Accounts Payable B2B Problem Solving Nonprofit 52

PYMNTS

AUGUST 3, 2016

The event, sponsored by American Express, focused on the ways health care organizations can manage the exit of paper, manual-based accounts payable processes and progress into digital B2B payments. The latest soapbox to do so was Becker’s Hospital Review ‘s 7th Annual Meeting held last month.

Accounts Payable 40

Accounts Payable B2B CFO Education 40

PYMNTS

NOVEMBER 29, 2019

We have a deep dive on accounts payable (AP) automation, analysis on “Google Checking” and news on the T-Mobile data breach. New automated accounts payable (AP) solutions promise to deliver several benefits for logistics providers like more seamless access to data and cost savings. Trackers and Reports.

Accounts Payable 51

Accounts Payable Entertainment Nonprofit Communication 51

The Finance Weekly

OCTOBER 31, 2021

Financial Planning for NPOs Financial planning for nonprofits entails optimizing your activities by meticulously managing all aspects of your finances. Master the basics of accounting. Standard accounting and financial management might be complex for nonprofits. 4 Steps NPOs can do to improve their financial planning.

Planning 52

Planning Auditing Nonprofit Accounts Payable 52

PYMNTS

JUNE 7, 2016

There was an incident in 2013 in which nonprofit firm MusicBrainz sent a cake — yes, the edible dessert — to Amazon’s finance department to satirically celebrate the three-year mark of an unpaid invoice. “Dear Amazon: Congratulations on 3rd Anniversary of invoice #144!” ” the icing on the cake exclaimed.

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Accounts Payable Invoicing Nonprofit Communication 43

CSC Advisors

JULY 23, 2024

Understanding SBA EIDL Loans SBA EIDL loans provide financial relief to small businesses and nonprofit organizations that suffer substantial economic injury due to a declared disaster. This funding includes paying fixed debts, payroll, accounts payable, and other bills you can’t pay because of the disaster’s impact.

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Profit and Loss Economics Accounts Payable Nonprofit 52

PYMNTS

NOVEMBER 18, 2016

this week with its investment in Community Funded, a company that helps businesses, like universities, health care institutions and nonprofits, raise money by launching crowdfunding and fundraising initiatives. Procurify offers a cloud- and mobile-based procurement and accounts payable solution to help companies analyze and manage spend.

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B2B Accounts Payable Startups B2C 74