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Communicating Finances to Your Nonprofit Board

Communicating Finances to Your Nonprofit Board

There is no doubt that communicating essential financial information while maintaining a positive relationship with your nonprofit board is critical to the success of your organization. However, it’s not without its challenges. Over time, we’ve learned the best approach centers on three key areas.

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Best Practices Around Budget Automation

Best Practices Around Budget Automation

We’re at the half-year review mark of the budget lifecycle. Have you observed anything over the last six months that should be automated? Do you believe budget best practices are being incorporated, or have you identified ways to improve the budget process? Let’s...

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Nonprofit Statement of Activities

Nonprofit Statement of Activities

Table of Contents Statement of Activities Formatting Types of Expenses Statement of Functional Expenses What is a Statement of Activities? The definition of statement of activities is a report that shows revenue and expenses of a nonprofit entity for a reporting...

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Bank Reconciliation Made Easy: Part I

Bank Reconciliation Made Easy: Part I

Is reconciling your organization's cash records to the monthly bank statement a task that causes you to shudder? Ideally, reconciling your nonprofit bank statement is a task best accomplished through a specialized true fund accounting software. However, understanding...

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