<img src="https://certify.alexametrics.com/atrk.gif?account=YiINr1zDGU20kU" style="display:none" height="1" width="1" alt="">

AcctTwo Blog

Alyssa Nunez

Alyssa Nunez

Recent Posts by Alyssa Nunez:

Financial Accounting Software: 4 Ways to Improve Financial Reporting

Financial accounting software with effective financial reporting empowers companies to operate flexibly, strategically and confidently. More commonly, however, reporting in outdated software is a cumbersome process with minimal benefits. Despite spending ample time and resources pouring through data, companies learn little to propel themselves forward.

The specific pain points that limit the potential of financial reporting are unique to every organization, but they can all be traced to common problems. By focusing on those, it's possible for any company to transform reporting into a true, strategic asset. Follow these four strategies to learn more in less time:

Topics: Financial Reporting Dashboards General Not-for-Profit and Faith-Based

'Accounting Digital Transformation' and Your Finance Department

What is it, and what does it mean for you?

Buzzwords, catch-phrases, and hype are the hallmarks of any talk about technology trends. We've written often about the "the Cloud," what it means and why it's important to properly define it, or at least agree on a definition when we're comparing products and delivery models. On the topic of "Digital Transformation," another hyped-up buzzword, I read a great article by David Terrar, an Enterprise Irregular and the CEO of Agile Elephant, a consulting firm focusing on, guess what? Digital Transformation.

Topics: Digital Transformation General Not-for-Profit and Faith-Based

It's Time to Modernize Your Company's Financial Management Solution

In disruptive times, it is more important than ever to have a strong financial management solution in place. The COVID-19 pandemic solidified what financial decision-makers have known for a long time: Clunky, outdated financial software can drag down a business. Businesses need fast, accurate, and comprehensive information and reporting. March of 2020 when the pandemic struck, most SMBs found themselves unable to cope with uncertainty, ill-equipped for the financial impact, and poorly positioned to recover. 

Topics: financial management software General

Increase Transparency for Donors with 12 Financial KPIs for Nonprofits

Donors demand full transparency and accountability before committing funds to a cause. Nonprofit finance leaders are responsible for ensuring good stewardship of donor dollars to make the biggest impact possible. Leaders need to make sure the greatest percentage of resources goes towards the mission and not operational expenses. To help you get started, here are some sample financial KPIs for nonprofits that donors want to see.

Topics: Not-for-Profit and Faith-Based

Digital Transformation Examples: How CFOs Can Improve Performance

It’s been estimated that 75 percent of small and medium business (SMB) decision-makers understand that using digital technology effectively is key to business success, especially in today’s digital era. Finding the right solutions can help a company overcome new challenges, course correct, and better prepare for unexpected changes in business and market conditions. Here are some digital transformation examples to help you see how to empower your people and prepare for the future.

Topics: Digital Transformation General strategic CFO Not-for-Profit and Faith-Based

Cloud Accounting Solutions as a Service Deliver Cost Savings

This is a continuation of our last blog discussing the benefits of cloud accounting solutions as a service. In part one, we shared that all software as a service (SaaS) is delivered via the could, but not all cloud is SaaS. While there are numerous benefits of accessing software via the cloud, licensing your software as a service has more potential for savings. 

Topics: General strategic CFO Not-for-Profit and Faith-Based

Cloud-based Accounting Software Has Benefits – But SaaS Has More

Deployment options were hardly a consideration ten years ago. Most accounting solutions were licensed and hosted by a third party or deployed on your own premises. “SaaS” was a poorly understood and relatively new concept. “Cloud” was not even part of the business vernacular yet. Solutions like Customer Relationship Management (CRM) were heading in that direction, but entrusting your records to cloud-based accounting software required a higher level of trust that had not been developed yet. 

Topics: cloud accounting Software as a service General

8 Ways to Utilize Technology to Be a Good Steward of Church Finance

People of faith believe in the importance of stewardship. The word steward refers to a person who manages—but does not own—a household. In ancient times, a good steward was trustworthy and accountable for everything from a household’s finances and property to its reputation. Today, we see it as taking good care of the things that God entrusts to us.

Often, there is a church finances committee, council, or board of trustees. To fully engage all these stakeholders and religious donors, faith-based nonprofits are under increasing pressure to demonstrate the impact of tithes, offerings, bequests and endowments on the dual missions of helping people and supporting the congregation. Precise accounting and complete, transparent reporting of church finance are the hallmarks of stewardship.

Topics: church accounting KPI Not-for-Profit and Faith-Based

How New Accounting Software for Church Supports Growing Congregations

A growing church is a blessing, but can be a challenge too. When congregation size soars from a few hundred to a few thousand, church operations take on an entirely new character. Accounting becomes far more complex as both donations and expenses multiply. Plus, administrators have to juggle that extra accounting on top of the day-to-day needs of an expanding ministry. Needless to say, growing pains are common, but with new accounting software for church finances, you get lots of help.

Topics: Church Accounting Software Not-for-Profit and Faith-Based

Using Outcome Metrics to Measure Nonprofit Impact

After six blog posts going in-depth on the subject of using outcome metrics to measure nonprofit impact - why they’re important, why they’re elusive, what metrics they involve, and what it takes to track them - we hope that two things are clear:

  • Nonprofits need to monitor their finances and program performance carefully, and then report on the outcomes extensively. Building trust with funders – donors, granters, members etc. – depends on being a transparent and accountable organization that turns investment into impact.
  • Tracking outcome metrics takes data from all parts of the nonprofit integrated together and analyzed to understand how inputs (money, time, staff) translate into outputs (meals served, classes offered, members gained etc.).
Topics: church accounting KPI General Not-for-Profit and Faith-Based