As the year draws to a close, everyone's to-do list grows longer and longer. For the nonprofit accounting team, the to-do list includes year-end close.

It's a labor-intensive and all-encompassing process, but one that is vital for the financial health and success of a nonprofit organization. Ensuring you have the data you need in the correct format will help you deliver critical reports to stakeholders as required.

The following steps have withstood the test of time among many NPOs who have found them to save time and effort. Taking time now to prepare for your nonprofit’s year-end financial close will

We’ve all sat through meetings with gritted teeth, thinking, “When will they get to the information that I need?”

Each of us views our work through our own unique lens. We go through our workdays with an automatic filter in place that screens information flowing in our environment for the nuggets specific to what we need to better do our jobs. That’s why it can be so frustrating when information comes at us that’s clearly not something we need. We have to spend time thinking, considering, discarding, or sending on that information to those who may need it, and that’s

When choosing public sector software, it’s vital to choose software that offers maximum security for sensitive data and systems.

The Department of Homeland Security requested a $2.6 billion cybersecurity budget for the fiscal year 2020-2021. The Federal Government is taking cybersecurity very seriously, and for good reason. This year alone, we've seen many bad actors. Over the past decade, we've seen systems containing defense contractors' information attacked, denial of service (DOS) attacks, and many other cyber threats against the federal government.

For local governments, the threat is just as real. Although you may think that your town or state

The best business ideas start with solving a problem. Twenty years ago, AccuFund had its beginnings in solving a business issue and grew into a software company focused on helping local governments and nonprofit organizations achieve their mission.

In 2001, AccuFund founder Gordon Holfelder and co-founder Peter Stam sensed a business opportunity printing checks for NASCAR race winners. At that time, businesses that wished to print their own checks needed not just unique software, but specialized printers and magnetic ink, too.

The duo came up with a system that incorporated all elements needed to print checks on the go and

If you are reading this blog article, like many other nonprofits, payroll management options are top of mind. As more and more nonprofits are moving towards managing payroll in-house, we wanted to compile our list of 7 Benefits of Managing Nonprofit Payroll In-House, to help you determine your priorities and next steps.

Before we dive into the day-to-day specific benefits of managing nonprofit payroll in-house, there are two big picture issues you will want to be mindful of:

• Be sure your payroll system understands your specific nonprofit needs, and
• Look for a payroll system that will continue to provide updates

From every corner of the world and including every community member, collectively, we are charged with operating under a new normal. Basic communication, friendly greetings, social interaction, making plans, helping others – everything we were accustomed to, is done differently now. With more caution, taking more precautions.

We are all trying to do our part in minimizing the spread of COVID-19, brought about by the novel coronavirus. Following reported safety measures to keep our friends, family, and community members safe during this challenging time is the least we can do.

The varying impact of this current health crisis has taken

By now you’ve probably heard about the changes coming with FASB ASU 2016-14.  The changes are significant and we’ve assembled a collection of resources to get you up to speed.

We have some concerns about what we’ve been hearing in the field:  responses to the question,  "How will you accomplish the new FASB ASU 2016-14 requirements?" 

There are four typical responses:  two of which are practical approaches, there’s one risky approach, and one troubling response.

Q:  How will you accomplish the new FASB ASU 2016-14 requirements?

Answer #1:  Use Excel Spreadsheets to Report

This is a risky course of action.

The deadlines for ASU 2016-14 are approaching.  Implementation of the standards will be disruptive – whether that disruption is minimal or acute will depend on how prepared you are and the capability of your nonprofit accounting solutions.

FASB ASU 2016-14: Here’s what’s changing for nonprofit organizations

Very simply put, the face or the presentation of your financials will be simplified.  Temporary and permanent restrictions will be combined into one column rather than being represented in two columns.  Enhanced disclosures should be relegated to the notes section of your financial statements.

For a more comprehensive treatment of the FASB ASU 2016-14

If you are currently evaluating nonprofit accounting software, chances are your old system is a legacy, on-premise, accounting solution. We define legacy as software that was developed prior to 2000 (Y2K). “On-premise” refers to where your software physically resides, for example, on a server in your organization’s office.

One of the things you probably have been tasked with, is looking at nonprofit cloud-based accounting solutions. There are many compelling reasons to consider a nonprofit cloud-based accounting solution (anytime, anywhere access; browser-based access; the ability to use PC or Mac or both; budget-friendly subscription pricing; and disruption-free upgrades to name

Never has there been a greater need for the services and support our nonprofits and local governments provide, in large cities and small towns, across the United States.

And at the same time, these nonprofits and local governments are challenged by the reality that funding is shrinking.

In order to persevere and continue providing for the communities they are charged with supporting, nonprofits and local governments need to maximize their technology, streamline their processes and provide their internal teams and stakeholders with the financial reporting needed to make informed decisions.

AccuFund is helping its customers meet this challenge head on

When Rancho Simi Recreation and Park District replaced their accounting software system with AccuFund Online hosted solution, they immediately gained 750 hours a year time savings.  On average, Rancho Simi Recreation and Park District creates 125 purchase orders each month.  They estimate AccuFund Online saves them about a half hour for each one.  That's 62.5 hours saved each month, or 750 hours per year - that's over 18 weeks!

But that was only a start to the efficiencies gained from making the move to AccuFund Online, you can read the full story here.   

Rancho SimiRecreation and Park District