Simplifying The Municipal Accounting Process

Simplifyying The Municipal Accounting Process

Accounting looks different for municipalities than for private companies and organizations. Municipalities often have multiple sources of funding, from taxpayer dollars to grants. They also have to abide by a more stringent set of accounting standards established by the Governmental Accounting Standards Board (GASB). In addition to complying with the GASB, municipalities are accountable to their citizens.…

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Making HR’s Job Easier and More Efficient

more efficient

Your HR team handles many essential tasks for your organization, from planning and overseeing employee onboarding to managing payroll. These five tips can help you learn how to streamline HR processes for more efficient approaches that affect your entire organization.  1. Automate Payroll Processes  Payroll is a significant duty many HR departments take on. Depending…

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How Art Organizations Can Increase Donations

art organizations increase donations

As an arts and culture organization, you need to know how to increase donations because of the limited and decreased government funding to arts, culture, and humanitarian organizations. Individual giving, too, tends to be in flux throughout the year and from year to year. When the state of the economy leads to fewer donors, nonprofit organizations need…

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How Software Can Make Compliance Reporting Easy for Arts, Culture, and Humanity Organizations

MIP

Compliance reporting is essential for any organization, but especially for nonprofits. Manual processes become more challenging and slow productivity as your organization grows, making it tricky to analyze your data. Nonprofit accounting software can help your arts, culture, or humanities organization with compliance reporting. You can readily manage an increased demand for services, several funding…

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5 Reasons Your Nonprofit Needs Fund Accounting Now 

As a nonprofit, you’re looking to be a good fiscal steward of the funds raised to remain viable and continue working to accomplish your mission.  Look at your organization’s tech stack. Is it working with your finance team or against it? A fund accounting solution helps your organization show how it responsibly manages funds. The…

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Benefits of Generating Real-Time Data for Arts, Culture, and Humanity Organizations

data for art organizations

Real-time data generated for arts, culture, and humanities organizations can offer several benefits. These organizations face unique challenges, including real-time visibility, compliance reporting, and the generation of outcome metrics. To advance your mission and save time on administrative tasks, you may want to invest in nonprofit fund accounting software.  MIP Fund Accounting® can automate your…

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How Nonprofits Are Handling Turnover and Engagement Issues

Today, employee turnover in nonprofit organizations is a growing problem. The Great Resignation hit the nonprofit sector hard during the pandemic. However, organizations were already facing difficulty retaining employees because of low pay and long hours. Though many people choose to work in the sector to help people and make an impact, this hasn’t stopped them from…

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Establishing Financial Accountability in Your K-12 School District

Establishing Financial Accountability

Establishing financial accountability through budgeting is an essential part of K-12 school district accounting. Think of your school budget as a financial plan to help you achieve institutional objectives. A successful budget should include an expenditure framework, revenue plan, and educational strategy. These factors will help you take appropriate actions according to the financial plan…

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Tips for Your Next Nonprofit Audit

MIP_Tips for Your Next Nonprofit Audit_Blog

Preparing for an audit is a year-round task and requires your nonprofit’s full attention. While you may not be required by law to conduct an audit, the process has several undeniable benefits. Audits can:    Show you’re a good financial steward of the funds your donors and grantmaking organizations provide  Reassure your supporters that your nonprofit…

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