Invest Time and Resources to Improve the Month-End Close Process
By Sharon Carbonell, CPA | Manager, Outsourced Accounting and Advisory Services For many who work in the finance department of a nonprofit or for-profit business, the month-end close process is a constant source of strain. Inefficiency and operational ambiguity are sore spots in particular, generally the result of manual data entry, lack of coordination, deficient…
Should You Outsource Your Accounting Functions?
As your not-for-profit strives to use its resources as effectively as possible, you might at some point consider outsourcing the functions that fall under your accounting and financial umbrella. But wait: You’ll need to weigh the pros and cons before making this important decision. What Are the Potential Advantages? Not-for-profit organizations often outsource work in areas…
Implement Effective Internal Controls with Built-In QuickBooks Online Tools
Financial professionals understand the critical role internal controls play in preventing fraud and helping the organization run efficiently. While some control activities are more difficult to implement, the QuickBooks Online accounting software offers a number of often overlooked built-in tools that will help your organization easily establish strong financial internal controls. Join GRF for an…
Achieving Proper Segregation of Duties with Limited Nonprofit Resources
Although they recognize the importance of maintaining proper segregation of duties (SOD) as a risk management best practice, many nonprofits still struggle because of limited staff, scarce resources and tight budgets. These organizations are under pressure to cut costs, increase revenue, and identify additional funding streams while also providing better, more useful reporting to leadership…
Your Accounting Function Can Become an Organizational Asset with an Accounting Systems Assessment
By: John Pace, CPA, CVA | Partner and Director of Outsourced Accounting and Advisory Services Despite adding accounting staff and implementing new software products, many organizations struggle with significant challenges related to their accounting function. Even with adequate resources and effective leadership, they may still experience issues with providing accurate reports, timely closing of the…
The Benefits of Leasing
If your company wants to improve cash flow, you might consider leasing equipment, vehicles and facilities, rather than buying. The primary advantage of leasing used to be the tax advantages. But the fact that leasing allows you to conserve cash makes it a form of financing. It’s not an alternative that works for every company…