Nonprofit Forum - September, 2017 online: Overlooked Benefits of Outsourcing

September 27, 2017 (Wednesday) 11:30 a.m. - 1:00 p.m. EST

(11:30 a.m. to 12:30 p.m.) Overlooked Benefits of Outsourcing Nonprofit Accounting

(12:30 p.m. to 1:00 p.m.) How to Have the Best Possible Accounting System

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Detailed Agenda:

• Has your organization ever looked at outsourcing all or a portion of its accounting? If not, it is because you’re not sure how the organization would benefit from this decision. Since it is not a common practice for nonprofits to outsource its accounting, we will discuss the process and discuss the overlooked benefits of outsourcing your Nonprofit Accounting.
• In the nonprofit community, outsourcing typically means long-term delegation of key operation to outside experts. The accompanying expectation is improvement of the quality, strengthening effectiveness, and lowering or controlling costs.
• A key difference in the nonprofit sector is not only controlling costs, but becoming a more effective organization.
• Outsourcing accounting provides nonprofit organizations with a team of experts who have multiple client experiences which benefits its clients and the nonprofit organization’s it serves.
• We will review six overlooked, and sometimes unknown, benefits of outsourcing nonprofit accounting.
• This webinar will help Executive Directors, Finance Directors, and finance staff to develop and use a financial policies and procedures manual. Savvy nonprofit leaders know that effective financial policies and procedures that lead to effective processes can be the difference between good and great performance.
• We will answer this and more. We will review and provide you with a candid conversation of the benefits and disadvantages of outsourcing nonprofit accounting. Immediately following the presentation on benefits of outsourcing nonprofit accounting, we will host a discussion on how to have the best possible accounting system.

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Accounts Payable and Accounts Receivable-MIP Spotlight

We will be focusing each Module of the Month on a particular software module or application that helps our clients.  We are going to focus this article on the Accounts Payable and Accounts Receivable Module.   We will focus on tips and tricks during the MIP User Group portion of the August 30, 2017 FTM Nonprofit Forum.  Our module refresher will include the following topics:

1. Accounts Payable Query for Vendor Balances and Activity
2. Changing AP Invoices after posting and check production
3. Voiding a Check
4. When to use Accounts Payable Invoices versus Cash Disbursements
5. Setting up unposted and posted transaction reports for Accounts Payable Invoices
6. Using the AP reports to include Accounts Payable Aging and Vendor Activity
7. Assigning Manual Checks and bank payments to Invoices
8. Best Practices to enter in credit card charges
9. Setting up an after the fact Accounts Receivable Invoice

Let us help you to maximize your use of the MIP Accounts Payable and Accounts Receivable Modules.   Our firm and staff use MIP Fund Accounting on a daily basis so let us help you maximize the use of this powerful application.