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Helping nonprofits become stronger financial managers.

January 28, 2016

Great New Year’s Resolutions to Improve Accounting Efficiency

While I am not someone who sets resolutions every year, I do know that if you write down your goals, you are more likely to succeed at achieving them. If you think about resolutions as a goal, they seem more beneficial. Have you set any resolutions for your finance department in 2016?  If so, are you still on track? Here are some ideas, and in fact, we have set some of these resolutions for our accounting services and MIP clients in 2016 as well.
  1. Brush off and brush up your financial policies and procedures.
  2. Ensure your financial goals are still in line with your organizational strategies. Review your organization's 2015 budget goals - did you meet them and are your goals for 2016 still realistic?
  3. Implement at least one efficiency practice in your finance department. Would one of these be applicable to your organization?
  • Create an import for regular monthly entry such as a credit card.
  • Memorize and establish recurring transactions for all of your month-end entries.
  • Track restrictions in real-time instead of after the fact.
  • Import banking transactions for reconciliations.
  • Review your accounts payable and payment process to streamline the request, approval, invoice and payment process - maybe investigate technology that is available to streamline these processes.
There are probably many other items that live on the never ending, ever evolving nonprofit finance manager's to-do list. Transition these items to goals. Perhaps this is your resolution for 2016 - make your to-do list a goal list and stick to that resolution. Imagine the success that you will celebrate at the end of 2016.

Here's to a successful 2016.

Warm Regards,

Laura Jorstad
Managing Principal
NFP Partners
 

Is the Accounting Software VAR Dead?

The marketplace for buying and selling accounting software has changed significantly through the years. Since the late eighties, my consulting businesses have served as a Value Added Reseller (VAR) of accounting software, principally with MAS 90 from Sage for small businesses and with Abila MIP Fund Accounting™ for nonprofit and government organizations for the last nine years.

The traditional model is for the “local” VAR to find prospects, help them analyze their needs and hopefully, acquire them as customers. The VAR purchases the software license from the software vendor (e.g., Abila) and resells it to the customer, along with the added-value of professional services for implementation and training. In the last few years, the role of the VAR has diminished, along with the term, as software vendors prefer euphemisms such as “Business Partner.”

So, what’s going on?

Click here to read about the main factors.

Lee Bengston, CPA
Founder
NFP Partners

Win a Free Registration and to AUDC16 and Help Keep Austin Weird
 

The acronym stands for the annual Abila Users and Developers Conference held in Austin, the best city in Texas to visit. We are offering a free registration and lodging for one lucky Abila MIP Fund Accounting™ user.  If you are interested, send an email to laura@nfppartners.com by 5 PM on Friday, February 5th. We will select the winner from a drawing.

What is the catch? You will need to pay for the cost of a flight and meals. You will also commit to providing feedback on the conference, what you learned, and what you will put into practice. We may feature your experience in the MIP Virtual Forum or newsletter, with your permission of course. If you want to learn more about the conference, go to www.audc2016.com.

If you are not the winner and still want to attend the conference, visit the website to review the program content and register. February 8th is the last day to register for $699. The price goes up to $899 after that.

 
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Contact us for a financial management assessment and to find out more about how NFP Partners can help you.

 

2016 Virtual Forum Meetings

We hosted the monthly Virtual Forum this month to plan the topics for the coming year. Participation was lean and mean and we came up with a few ideas. We would like a little broader perspective on the value of the Virtual Forum for MIP users and topics that are of interest to you. This month you will receive a revised survey to gauge your interest in suggested topics. In order to make the meetings productive and beneficial for you, the user, we need your suggestions and we thank you in advance for your input.

The next regularly scheduled meeting is Wednesday, February 17 at 10 a.m. The topic that received the most interest from the recent survey was Advanced Reporting so we will dig into that topic.  If you have suggested items or report formats, please send them in advance to Laura at laura@nfppartners.com.

TAKE THE MIP SURVEY

REGISTER
 


Fraud & Embezzlement 2.0 Webinar

The individuals and gangs who target nonprofits because they can be such easy prey has only gotten worse since we offered this webinar 2 years ago. You are at risk!

Come learn how to better identify your vulnerabilities and protect yourself with information and strategies from Bryant Truitt, MBA, Certified Fraud Examiner and CEO of Brytan & Associates, Inc. Even after 20 years doing this, he and his team are still on guard and watching how to help their clients stay alert and strong enough to combat these criminals.

Wednesday, February 16th at 2pm MST

Register

 



Articles of Interest

We have discovered some different and new sources of useful information for nonprofit executives and managers which will hopefully make this section of the newsletter more interesting and better read.






 
 
     
 


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