article thumbnail

How to Fix Your Nonprofit Accounting

The Charity CFO

Working with a professional accounting firm specializing in nonprofit accounting is a great way to fix your accounting system and save time. Nonprofit accounting firms have specialized knowledge related to financial management for nonprofits. Need help fixing your accounting issues?

article thumbnail

Tips for cash management for a nonprofit organization

The Charity CFO

Optimizing cash flow may include negotiating payment terms with vendors, implementing efficient invoicing and collection processes, and exploring cash flow enhancement techniques such as short-term investments or revenue diversification. Do You Struggle to Make Sense of Your Financial Statements?

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

Breaking Down the FP&A Function of the CFO Suite

BlueLight

Traditionally, the chief financial officer (CFO) is responsible for tracking the company’s past and present financial situation and ensuring on-time and accurate financial reporting. This function is called financial planning and analysis (FP&A). The first step is getting good financial reporting.

article thumbnail

Best Practices from the CFO Suite

BlueLight

The financial implication of these decision is critical and the CFO is the executive helping the CEO navigate these decisions. Historically, the CFO role was focused on backward looking information: ensuring on-time and accurate financial reporting. Billing and invoicing software: Bill.com ?—?Cloud-based Accounting ?—?Nearly

CFO 52
article thumbnail

Nonprofit Accounting Basics for Founders, Board Members & Executives

The Charity CFO

Your core financial reports, which we’ll look at below, exist to answer this one simple question– how much value has your organization created ? Don't hire the wrong accountant for your nonprofit! Accounts Payable. Accounts payable is an account containing any outstanding bills or invoices that you haven’t yet paid.