This past year may have been the breakthrough year for artificial intelligence (AI). It seems as if you couldn't turn on the news or visit your favorite website without stories breathlessly touting the latest AI innovation. While it may appear like AI is new, it's not entirely new; the technology behind the latest surge of AI-based products has been on the market for several years, quietly improving automation and saving nonprofits time, money, and resources.

According to a survey from Smartsheet, 40% of workers surveyed say that they spend at least a quarter of the work week on repetitive

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

Regarding budgeting basics, government entities have much in common with their corporate counterparts. One thing in common is the struggle for collaboration and communication on budgetary issues. Every organization, big or small, struggles to collaborate on budgetary issues and communicate pertinent information to make the budgeting process go more smoothly.

These techniques can enhance collaboration and communication while developing, refining, and approving budgets. If you're working on a budget for a government entity, these techniques can help you move from draft to approved, enhancing your ability to work with colleagues, ensuring essential budgetary items are included, and creating a productive

Building dashboards for your nonprofit is like baking a cake – you must have the right ingredients. But even the right ingredients can make a terrible cake if they aren’t combined in the right proportions.

A nonprofit dashboard varies according to the users’ needs. Some users need a deeper look into an organization’s finances. For them, the “ingredients” draw more from the accounting and financial side of the software than other data. For others, the final “cake” has to be shared with people outside of the organization, so the presentation is everything. Here’s how to make the ultimate nonprofit dashboard.

Like any good novel, a writer’s ability to integrate multiple storylines helps create an engaging and impactful experience for their audience. A great novel leaves you thinking about its story days, weeks, and months after you’ve finished.

The same holds true for nonprofit financial storytelling – with the weaving together of financial data/results/analysis from all departments, you can show a great story – the effectiveness and reach of your organization and its impact on your community.

The result?
Unite team members. Improve transparency. Secure more donors. Secure more grants. Attract skilled talent. Build Trust. Build Confidence. Build strong sense of

If you're actively exploring cloud-based options for municipal government software, you’re in good company.

Nationwide, among both for-profit and nonprofit organizations, cloud software adoption has never been stronger. Estimates vary, but the most recent one suggests that 94% of enterprises use cloud-based products. That number is expected to increase, with fewer organizations relying upon site-based systems as the decade progresses.

As more and more local and municipal government software shifts to cloud-based solutions, what’s driving this change? And is cloud-based software the best choice for your local government accounting needs?

Benefits of Cloud Computing for Local Governments

More and

We bet that the title of this blog surprised you. After all, many articles lately focus on gloom and doom: how nonprofit revenues are down, how the pandemic is increasing services while decreasing volunteer hours and potential donations, and so on.

Yes, it’s all true. But here at AccuFund, we don’t believe in focusing on what’s wrong. We believe in focusing on what’s right, and there’s plenty of right in the nonprofit world. Although the research shows that nonprofits around the nation may still struggle, there’s also hope that nonprofits who can adapt and change, leveraging nonprofit software and unique

Is it time for local government accounting modernization?

Modernization sounds like a strange word to use when it comes to describing a local government initiative. But just like you may modernize your kitchen or bathroom, governments need to modernize their systems too.

Local government accounting modernization is more than a facelift. It may mean finally getting rid of the outdated wallpaper, but it also means upgrading the structure behind the scenes – perhaps adding additional outlets in the kitchen that can handle more appliances or a water connection to the refrigerator area for a built-in ice maker. Local governments choosing

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

Whether a donor advised fund, a CPA firm providing accounting services to endowments, or an organization with an endowment, if you rely heavily on spreadsheets, you may want to explore an endowment accounting solution.

Why?

Here are five ‘red flag’ reasons why relying on spreadsheets doesn’t add up to best practices for endowment management.

1. Not Transparent
Having your endowment records in a spreadsheet makes it impossible to fully share transaction history with donors and co-workers. A spreadsheet makes it impossible to drill down from a report or dashboard to the underlying records.

2. Not Unit or UPMIFA Friendly.

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

From fundamental ASU2016-14 FASB updates to company-specific software updates, equipping nonprofit organizations with the tools to improve reporting and financial management is top-of-mind for many, if not all, nonprofit executives and boards.

Personally speaking, when AccuFund makes enhancements to its products, you know 3 things for certain:

1. We are listening to our customers; what they need to help them improve the way they report, organize their data, work through their system, and overall manage their financials.
2. We are committed to the nonprofit and government marketplace we serve.
3. New enhancements set the stage for future enhancements.

With our

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

Many commercial accounting products have 2 elements - a natural account and a department - and this works fine for commercial entities.  In a nonprofit with multiple funding sources this quickly causes reporting issues.

We regularly work with nonprofits (NPOs) who use commercial accounting software and don’t understand why the software products designed specifically for NPOs offer more than 2 elements or dimensions in their account structures.

I was recently at a mid-sized NPO using a commercial product with two elements, a “Reporting Unit” (RU) and an object code or natural account element.  

So I asked them, what is

When mapping the direction and strategy of your nonprofit, the ultimate goal is always mission fulfillment.  But are there habits and processes that need to change in order to see dramatic improvement?  

Are there change agents within the organization that have pointed to areas of deficiency who have been routinely told “not yet”?  Are there areas of the organization that are operating exactly as they did five years ago, ten years ago?  What about your accounting department?  Are they using the same processes and tools as they were years ago?  Is the only change the increased number of spreadsheets

Thirty years ago the typical nonprofit relied on the paper memo to communicate with their employees, and letters or cards for their constituents.  Twenty years ago email began to appear at least for internal communication, and ten years ago instant communication came on the scene.

Now we have a plethora of options, social media- Facebook, Twitter, LinkedIn, SnapChat, Instagram and Google Hangouts, message systems like “What’s App”, stand-alone message boards, imbedded message systems and yes we still can use email and postal mail. 

The challenge for nonprofits is to match the appropriate communication media with the intent and importance of

Your staff is on edge.  You’re exhausted and stressed.  The only thing you can think about is getting through month-end.  

If that sounds familiar, read on, because while it’s not unusual for us to come across nonprofit accountants who experience the professional equivalent of going under house arrest during period-end closes; it is completely unnecessary.

Painful closings are a symptom of inadequate accounting systems.  Inadequate systems make your life harder, not easier. 

Beyond the monthly pain inflicted by inadequate accounting systems, the time chewed up by closing activities delays critical fund information getting into the hands of your organization’s

It may not be at the top of your priority list but regular system reviews are key when it comes to ensuring that you are getting the most out of your investment.

Your financial systems are the bedrock of responsible stewardship and organizational transparency.  In addition, access to financial data when evaluating grants, applying for new grants, determining fundraising campaign effectiveness, tracking operational expenses, etc., is critical to serving your constituents now and in the future.

We recommend an annual system review.  Just as you budget and plan for each new year, it makes sense to evaluate how your accounting

Why should nonprofits be interested in cloud accounting?

There are significant savings to be enjoyed by emptying out your server room and putting the money you used to pay in maintenance and upgrades towards your mission.

The cloud, through economies of scale, offers state-of-the-art security, disaster recovery, and guaranteed uptime.

Budget-friendly subscription pricing combined with anytime, anywhere access gives your organization the agility it needs to focus on your mission in the most cost-effective way without sacrificing features or performance.

Why should nonprofits be interested in AccuFund?

We currently serve more than 1,000 clients and we special in accounting software

Would you like to decrease the amount of time an effort that goes into your period-end close? Would you like more reporting options? Or the ability to upload large numbers of contributions at one time?

Then you might want to take a closer look at AccuFund Accounting Suite.

We are proud to report that AccuFund Accounting Suite received five out five stars in the all categories reviewed by the CPA Practice Advisor including: Basic System Functions; Core NFP/Fund Accounting Capabilities; Management Features; Financial Statements & Reports; Integration/Import/Export; and Help/Support.

The article concluded that "AccuFund Accounting Suite for Nonprofits is an