When you outsource your accounting, it’s a little like having a makeover. There’s immediate improvement and a process in place to present your “best self” to the public. It feels great!
Generally speaking, most nonprofit organizations could greatly benefit from outsourcing their accounting – it’s an accounting makeover.
If you’ve been thinking about hiring someone to handle the organization’s accounting, we urge you to first consider outsourcing. Usually, the cost of outsourcing is less than or equal to the cost of bringing on a new employee – but with many more benefits.
When a nonprofit decides to outsource their accounting to Qbix, within 60 to 90 days we are able to right the ship by getting your books in order, developing the needed processes, and implementing the tools needed to streamline and automate many of your accounting workflows.
Here are four ways you will benefit from outsourcing:
- Communication – because you will be receiving complete, accurate and timely reports from Qbix, you are better able to communicate the financial status of the organization
- Precision – no more speculating on grant funds. You’ll have a complete understanding of what’s spent, what’s committed and what’s available.
- Protection – We implement accounting processes that reflect current best practices in the nonprofit sector, protecting your organization’s reputation from fraud or mismanagement.
- Deliver full transparency and accountability – The demands of stakeholders, whether the board, donors, or the community, are ever-increasing. When you outsource your accounting, you are providing the needed professional attention that will yield better information. You will always be equipped with the information you need to be best steward of your organization’s funds.
Remember, all of this can be accomplished quickly and, typically, at the same cost of bringing a full-time employee on board.
The great thing about outsourcing your nonprofit accounting is that the transformation can happen within a month or two – and it’s so easy! As the executive leader of your nonprofit, you can focus on the strategic concerns of the organization knowing you’re equipped with the most current and accurate information for your decisions.
Would you like to know what other Executive Directors have to say about outsourcing to Qbix? Download the eBook ‘Confessions of Nonprofit Executive Directors’
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