Remove Communication Remove Financial Reporting Remove Invoicing
article thumbnail

Identifying Types of Fraud in Organisations

CFO Talks

Actionable Preventive Steps: Establish Strong Governance : Set up an independent audit committee to oversee financial reporting and ensure that internal audits are performed regularly. Unfamiliar Vendors : Be wary of invoices from vendors that don’t appear in your approved vendor list or who are not fully vetted.

article thumbnail

Leading Through Uncertainty: Smart Ways to Manage Money in Tough Times 

CFO Talks

Quick Tip: Set up automated financial reports to track income, expenses, and cash flow monthly. Process Automation Using tech to handle invoices, payroll, and reports can save money and reduce errors. Thats how employees and investors feel when financial updates are kept secret or too complex.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

6 Nonprofit Bookkeeping Tips to Save You Time & Money

The Charity CFO

But you need accurate and timely bookkeeping to get the financial reports you need to run your programs, report to your grantmakers, and keep your operation on track. Scan Your Receipts and Invoices . Gone are the days of manually recording every receipt and invoice.

Nonprofit 105
article thumbnail

Accountability in Finance Teams, Methods and Benefits

CFO Talks

Whether it’s handling invoices, managing payroll, or preparing financial reports, no one should be left guessing about their tasks. This ongoing communication ensures no one drifts off course and keeps the team aligned with the overall goals. Each person on the team should have clear responsibilities.

article thumbnail

How Business Owners Can Create Good Banking Relationships

CFO Simplified

Communicate with your bank on a regular basis. Produce stable, timely financial reports. You should be getting financial reports within 10 days of the close of the month for yourself to look at anyway. Continue reading to learn more about why financial reporting drives good decisions.

Banking 98
article thumbnail

Nonprofit Accounting Cleanup: How to Deal with a Mess

The Charity CFO

Red Flag #2: Lack of Financial Reports Speaking of infrequencies, the lack of financial reports can indicate another red flag. As a leader of an organization, if financial reporting is inconsistent or difficult to obtain, then it’s likely there are some issues with the accounting. Get the free guide!

article thumbnail

Nonprofit Accounting Basics for Founders, Board Members & Executives

The Charity CFO

So you can understand what’s happening in your business and communicate effectively with your board members, donors, and financial team. Your core financial reports, which we’ll look at below, exist to answer this one simple question– how much value has your organization created ? Other Common Nonprofit Financial Reports.