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.
- Brush off and brush up your financial policies and procedures.
- 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?
- Implement at least one efficiency practice in your finance department. Would one of these be applicable to your organization?
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.
- 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.
Here's to a successful 2016.
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
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 firstname.lastname@example.org 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.