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AcctTwo Blog

Nonprofit Financials: Accelerate Recovery in 5 Steps

As governments around the world continue easing lock-down restrictions, executives are thinking about how to help their nonprofit financials accelerate recovery post COVID-19. Rather than hunker down, it’s time for nonprofits to take 5 proactive steps to stabilize their finances, adapt to new conditions, and prepare for continued mission success.

Topics: Not-for-profit Industry not-for-profit

SaaS Finance: Are You Sitting in a $20,000 Meeting?

Think about the last mismanaged meeting you attended. Who was in the room? How many executives were in it? Did that meeting go long, or turn into two or three meetings? Without question, every meeting needs a clear agenda. A lack of an agenda leads to disorganization, mass confusion, and meetings that are far more likely to get off track or hijacked. A mismanaged meeting leads to a black hole of inefficiencies and wasted salaries. Makes sense, right? Well, a SaaS finance meeting run using Excel as the backbone of your financial platform leads to the exact same challenges.

Topics: finance and accounting outsourcing software companies SaaS Start-Up Startup Guidance

What’s New in the Latest Sage Intacct Release for 2020?

Sage Intacct Release 2 for 2020 is now live and we are here to give you an overview of the new features or enhancements you rely on to make your job easier when it's time to pay bills, inter-entity setup and management, as well as budgeting and planning. These are just a handful of what's new in the 2020 Sage Intacct Release 2. Let's take a closer look!

Topics: Intacct Releases cloud accounting Accounting Release

Does Your Nonprofit Need More From Abila?

A few months ago, at our Faith-Based Finance Collaborative, AcctTwo's Managed Accounting Services Controller, Shelly Einspahr, and Covenant Church's COO, Brian Coleman, sat down and talked about how we work together. Little did we know back at the end of February, our world was going to change dramatically in a matter of weeks. The news about COVID-19 was still somewhat sparse, mainly impacting China, Italy, and starting to creep into California – specifically around San Francisco. Churches went from serving thousands to having to pivot and become virtual. In fact, the whole world had to pivot and become remote. Figuring out how all the pieces fit together and how to maintain business-as-usual was a challenge. Even for organizations that have had cloud-based infrastructure in place, it was still challenging at times because most of us went from working 9-to-5 to working 24/7 which included, parenting and homeschooling.

Topics: church accounting church ministry Faith-Based Church Accounting Basics Church Accounting Software

Tame Your Complex Billing Tiger with Flexible Project Billing Automation

“We have to do it manually” is an unfortunate phrase we hear quite a bit when our clients share their frustrations with managing their complex, multi-line project billing. If you’re recreating the same price list repeatedly or if your business model requires extensive pricing and billing flexibility, there’s a better way.

Topics: project accounting professional services Automation and Workflow Project Management and Project Accounting process automation Construction Industry Field Services

SaaS Accounting: Technology Is Great, but It's Nothing Without the Right People

It's next to impossible to overstate how much technology has (and will) change the face of business. But what is just as remarkable is how crucial the human element remains in offices around the world.

Advances in automation, big data, machine learning, and sophisticated analytics promise to make the impossible accessible. What these technologies will not replace, however, is highly-trained professionals with extensive experience and expertise in SaaS accounting.

Topics: FAO bpo BPaaS Managed Accounting Services (MAS)

What Do I Need to Raise Capital?

Raising capital is one of the hardest things a founder can do and it will consume a significant amount of your time. 

Given what we are experiencing with COVID-19, it is even more challenging. Interestingly, today “the biggest change lies in not the money itself, but the appetite for uncertainty. Most investors are going to be more cautious currently, which will require some form of uncertainty premium as a part of the terms. One way to ensure that you can raise money confidently in this time is to get intimately familiar with cash flow on a day-to-day, week-to-week basis.” 

Topics: Business Intelligence / Analytics mid-sized business venture capital Start-Up Startup Guidance

Are Your Reports Investor Worthy?

To quote Wayne’s World, “We're not worthy!”, is how most startups feel when reporting to investors, or potential investors, with their outdated Excel sheets riddled with manual errors. You started your startup on the core belief that your product or service is game changing, and you want the world to know it. But the minute you get in front of an investor you start to second guess yourself and your numbers.

Topics: Business Intelligence / Analytics SaaS Financial Reporting analytics business intelligence Financial Analysis, Ratios and KPIs Dashboards Start-Up Accounting SaaS Startup Guidance Investor Reporting

The Top 4 Challenges of Church Accounting Software and Their Solutions

Within nonprofit Finance and Accounting, church back offices have unique challenges to solve with church accounting software solutions. Thankfully, with new accounting and ERP technologies designed for and affordable for churches, these unique challenges have better results than ever before to help maximize stewardship.

Topics: church accounting church ministry

Improved Sage Intacct Expense Tracking from Above

We recently spoke to our friends at Nexonia about Sage Intacct expense tracking. They shared some of their thoughts around the cloud and how cloud-based solutions are shaping the future, especially when most organizations are working remotely during COVID-19.