CFO Share

NOVEMBER 3, 2023

The question then arises: is it time to hire a part-time bookkeeper? In this article, we break down the indicators and advantages of hiring bookkeeping services tailored to specific business needs. How Do I Know When To Hire a Bookkeeper? Why: Hiring a bookkeeper can alleviate the stress of managing finances.

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CFO Share

NOVEMBER 17, 2023

In the quest for efficiency and accuracy in finance, AI bookkeeping emerges as a promising solution. Can AI bookkeeping software save you time and money, or is a shiny object distracting you from business fundamentals? The Cons of AI Powered Bookkeeping The same qualities that drive AI bookkeeping strengths also create weaknesses.

Accounting Principles 52

Accounting Principles Accounting Startups Financial Data 52

The Charity CFO

FEBRUARY 4, 2022

Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. A bookkeeper records and organizes financial data; an accountant interprets and presents that data. . Manage payroll .

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CFO Share

DECEMBER 13, 2023

Grow confidently with our reliable bookkeeping team. Our outsourced bookkeeping services are your ticket to peace of mind. You Deserve Robust Financials The endless drudgery of bookkeeping is boring yet critical. Accurate bookkeeping isn’t just a necessity—it’s the backbone of strategic decision-making.

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The Charity CFO

MAY 22, 2024

Good financial management. In nonprofits, managing your finances effectively is essential to running a sustainable organization. Not only does good financial management help keep your organization running, but it also helps bolster trust in your nonprofit. The role of a CFO is all about financial management.

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Adam Kae

AUGUST 25, 2023

The Dance of Business and Bookkeeping In the world of business, the rhythm of success often requires harmonious coordination of various elements. Such is the case with bookkeeping – a fundamental aspect of your business that, when managed well, can propel your digital marketing agency to new heights.

Marketing 52

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The Charity CFO

SEPTEMBER 28, 2022

If you manage a nonprofit, you know very well that every day there are a million and one things to be done. And, of those a million and one things, bookkeeping is not at the top of your favorite things to do list. . Good bookkeeping requires extreme accuracy and attention to detail. Top Nonprofit Bookkeeping Tips.

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CFO Share

AUGUST 31, 2023

The partnership between a business owner and a bookkeeper is paramount during this time. What do bookkeepers do at year-end? Effective bookkeeping at year-end is more thorough than interim (monthly) closes. Another accountant should double-check your year-end bookkeeping to verify the accuracy of your bookkeeper’s work.

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KG Virtual CFO

JUNE 20, 2023

Virtual bookkeeping refers to the process of managing a business's financial records and transactions remotely through cloud-based software and applications. This service is provided by professional bookkeepers who can access and maintain the business's financial information from anywhere, without the need for physical presence.

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https://trustedcfosolutions.com/feed/

FEBRUARY 12, 2023

With each department of a business comes its own set of moving parts, which — if not managed or organized well — can create complications. When it comes to establishing an effective financial process, basic bookkeeping and balance sheets aren’t enough.

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Beacon CFO Plus

NOVEMBER 2, 2023

Here are five things that won’t be on their to-do list: Daily Bookkeeping: Fractional CFOs are not responsible for the day-to-day recording of financial transactions, data entry, or routine bookkeeping tasks. These responsibilities are usually handled by bookkeepers or accounting staff.

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CFO Share

JANUARY 31, 2024

Thanks to cloud-based bookkeeping , fractional CFOs have recently become accessible to even the smallest companies. These include: You are too busy to perform bookkeeping and accounting. You are raising outside equity capital, or You just closed an investment round and need to manage cash smartly. The services you select.

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CFO Share

APRIL 11, 2024

But many fear remote bookkeeping exposes them to security risks – hackers, fraudsters, and embezzlement – especially if the virtual bookkeeping solutions use employees in foreign countries. Bookkeeping security risks are always a valid concern, especially since internal staff perpetrate 57% of small business fraud.

Securities 52

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CFO Share

AUGUST 22, 2023

For businesses with revenues ranging from $2 million to $10 million, upgrading from an admin to a part-time bookkeeper can be a pivotal decision that transforms financial processes, optimizes regulatory compliance, and fuels business growth. What are the top benefits of hiring a part-time bookkeeper for your business?

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The Charity CFO

MAY 11, 2023

Bookkeeping is a critical component of running a successful nonprofit organization. It involves the management of financial transactions and the maintenance of accurate records to ensure that your organization remains financially healthy and compliant with the law.

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The Charity CFO

APRIL 1, 2024

QuickBooks provides an easy-to-use bookkeeping solution that puts all of your financial data in one place. You’d be hard-pressed to find an accountant or bookkeeper who doesn’t have experience with the platform. QuickBooks Online In our experience, most small- to mid-sized nonprofits benefit from using QuickBooks Online.

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The Charity CFO

SEPTEMBER 2, 2022

To cut corners, nonprofits often force nonprofit accountants to handle various responsibilities, including HR, payroll, and bookkeeping. To make things worse, if that person was handling all the bookkeeping, accounting, tax filings, payroll, and HR, they throw your entire operation into disarray when they leave. . Get the free guide!

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https://trustedcfosolutions.com/feed/

OCTOBER 20, 2022

With a staff accountant or bookkeeper, you have to consider things like hourly wages, productivity, overhead, time, and training. A growing business is constantly waging war by continuing to manage limited time and resources. Working with a full team of in-house accountants comes at a high cost to your business. Improving productivity.

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The Charity CFO

AUGUST 24, 2022

Managing a nonprofit’s finances is not a one-person job. Sure, your financial team– your bookkeeper, accountant, and CFO (if you have one)–take the lead role in managing your finances. The high-performing organizations we work with all ensure that nonprofit financial management is a collaborative effort.

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CFO Share

JULY 14, 2022

Here’s what you should consider when approaching a catch-up bookkeeping or an accounting clean up project. Clean up bookkeeping is like untangling fishing string – to fix it, you must work smart, not hard. As a rule of thumb, bookkeepers are not qualified to do accounting clean up – you need a trained accountant.

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The Charity CFO

MAY 19, 2023

Cash management for a nonprofit organization is possibly the most important consideration for success. In a previous article, we discussed the benefits, risks, and compliance requirements of outsourcing bookkeeping for nonprofit organizations. What is cash management?

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CFO Share

SEPTEMBER 27, 2022

Unfortunately, accounting processes are more complex than fixing your truck, and while many businesses benefit from hiring in-house accounting and bookkeeping, others do not. Knowing which category your business fits in is critical to deciding whether or not to hire in-house for accounting and bookkeeping. . Bookkeepers – depends.

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The Charity CFO

APRIL 22, 2024

Offering wellness programs, family-friendly policies, or other mental health benefits for employees gives them the resources they need to proactively manage stress and stop burnout. You can also improve your resource management based on historical spending and revenue. Consider financial management as an example.

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The Charity CFO

OCTOBER 1, 2022

Krysta is incredible at project management and organizational development. As if her experience wasn’t enough, she also has a Bachelor’s in Social Work from SLU and a Master’s in Nonprofit Management from Fontbonne. However, the area I’ve enjoyed seeing her grow most in is how she advocates for just, equitable, and authentic systems.

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CFO Simplified

DECEMBER 26, 2021

Larger companies will require additional positions that work closely with the finance department, such as an HR Manager or attorney. In this size company, your finance team should include a bookkeeper, with an outsourced CPA, and payroll. A mid-sized business should have a Controller, Staff Accountant, Bookkeeper, and CPA.

Finance 52

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Boston Startup CFO

APRIL 3, 2023

Tier 1: Bookkeeping Bookkeeping serves as the foundation of financial accounting, involving the recording, categorizing, and summarizing of financial transactions. This includes managing invoices, receipts, and payments, as well as reconciling bank statements.

Accounting 52

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CFO Share

MAY 22, 2024

Consistent financial reporting is critical for business management. But cleaning up bad statements can feel daunting, tedious, and wasteful to small business owners and managers. The standard structure of business financial statements makes them easy to understand for both managers and investors.

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CFO Leadership

APRIL 2, 2024

Key areas to consider implementing software to automate processes include billing and invoicing, budgeting and forecasting, accounts payable, accounts receivable, and close management. With the right technology in place, companies can lessen the accounting staffing needed, without sacrificing accuracy or compliance.

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CFO Plans

MAY 2, 2024

When it comes to revolutionizing your financial management, finding the right accounting partner is a critical decision. Whether you operate in technology, hospitality, manufacturing, trading, or property management, ensure that your chosen partner has a deep understanding of your industry’s unique challenges and opportunities.

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CFO Share

NOVEMBER 18, 2023

Lacking timely financial data, managers act on instinct rather than data, leading to costly mistakes and an undisciplined team culture. Identify roadblocks holding back your bookkeeper, like late expense reports, and challenge your team to execute a disciplined playbook to keep the books accurate and timely.

Accounting 52

Accounting Profit and Loss Financial Data Compliance 52

The Charity CFO

OCTOBER 4, 2022

To ensure that a nonprofit runs efficiently, several people work behind the scenes to make things much easier, and one of those people is the operations manager. The operations manager might be the secret weapon of the most successful nonprofits we know. What does an operations manager do? Who reports to the operations manager?

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The Charity CFO

MARCH 16, 2022

Theresa Guest is joining The Charity CFO team in the role of Accounting Manager. Get this FREE guide to discover what you need to do to ensure you hire the right accountant, bookkeeper, or CFO the FIRST time. The post Theresa Guest Joins The Charity CFO as Accounting Manager appeared first on The Charity CFO.

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The Charity CFO

JANUARY 31, 2022

Management and Administration: typically includes “overhead costs,” including operational expenses that don’t specifically relate to executing your mission or fundraising. . Is most of your money going to program activities (75% of each dollar should go to programming; 25% should go to management and fundraising) . Get the free guide!

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https://trustedcfosolutions.com/feed/

OCTOBER 3, 2022

Rather than hiring full or part-time accountants or bookkeepers as permanent staff members, it often makes more sense to simply outsource —from both a monetary and scaling perspective. A strong accounting software should include: Core financial functionality (accounts payable, receivable, order management, purchasing).

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The Charity CFO

DECEMBER 30, 2021

Get this FREE guide to discover what you need to do to ensure you hire the right accountant, bookkeeper, or CFO the FIRST time. It confirms your compliance with federal grant management standards. And, the Office of Management and Budget requires an audit when a nonprofit spends more than $500,000 in federal funds in a year.).

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The Charity CFO

NOVEMBER 10, 2022

Sound financial management helps avoid jeopardizing tax-exempt status and the success of your operation. . Donors want to know that their money is being put to good use and that the nonprofit organization they’re supporting is being managed responsibly. Nonprofit Accounting Services: More than a Bookkeeper.

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The Charity CFO

APRIL 19, 2022

In our experience, nonprofits with little in reserve and/or low cash balances tend to have financial management challenges, often including: Poor collection of accounts or pledges receivable. For this reason, your “Days in Cash” metric is more helpful for managing the day-to-day business of a nonprofit. Risk of defaulting on loans .

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