Is your nonprofit accounting locked in the past? Much has changed in the last five years. The innovations in technology have changed the devices people rely on from everything from social media communication, banking, and a little closer to home for nonprofits, online giving. It’s breathtaking how much has changed in the last 5, 10, 20 years.
The acceleration of change has probably manifest itself in many of your nonprofit’s operations – fundraising, online giving, and volunteer management, to name just a few. The tasks you as Executive Director and your program managers and development directors are responsible for, are likely handled very differently today than even a few years ago.
But what about your accounting department?
Have your accounting processes evolved at the same pace as other areas in the organization?
Is your nonprofit accounting locked in the past? Here’s a quick self-evaluation:
- Are accounting duties ad hoc, rather than planned?
- Is financial reporting regularly a time-intensive struggle?
- Is “This is the way we’ve always done it” an apt description when it comes to accounting?
- Are accounting procedures still undocumented?
- Are internal controls undefined and undocumented?
- Have colleagues given up asking for needed special reporting because basic period-end reporting consumes your limited resources?
- Are program managers relying on their own spreadsheets to manage expenses and budgets?
If you’ve answered “yes” to more than one of these questions, your nonprofit accounting is locked in the past. Worse, the situation is impeding the effectiveness of your organization.
You may have investigated adding resources – people and software solutions – but were quickly dismayed by both the cost and the disruption the organization would incur.
There’s another solution to the problem.
The acceleration of technologic advancements has brought new, affordable, powerful options for nonprofit executive directors. One such model and best practice is the outsourcing of accounting. Nonprofits of varying sizes and diverse missions throughout Georgia and the United States have turned to Qbix as their accounting services solution.
Outsourcing your nonprofit accounting allows you to leap frog painlessly into the adoption of new technology. Outsourcing your nonprofit accounting allows you to avoid altogether the rigorous and time-consuming process of trying to hire and retain competent accounting staff. You can keep your headcount and administrative costs down and enjoy timely reporting, expert accounting attention to your financials and real time access to the data you need to manage programs and the organization. Furthermore, you won’t have any disruption due to turnover, vacations, or personal time off. You can be confident that your nonprofit accounting is being consistently executed by professional who have decades of experience with the specific requirements of grant-funded (multiple sources of funding) nonprofit reporting needs.
We’re always happy to answer specific questions you may have and welcome your phone call. Also available to you via download is our “Nonprofits Outsourced Accounting Checklist” which you can access by clicking here.
