AcctTwo Blog

AcctTwo Hosts Faith-Based Virtual Event Scheduled for February 23–24, 2021

AcctTwo’s Faith-Based Finance Collaborative is designed to educate church and ministry leaders about what they need to know in 2021 to accelerate their mission and ministry, AcctTwo’s faith-based finance event will be held virtually.

For up-and-coming businesses, QuickBooks is usually the entry-level choice for financial software in the organization’s early days – and for many reasons. QuickBooks offers the basic functionality that almost any business needs to get off the ground.

However, successfully growing businesses quickly realize that what was good enough when they started out is now overshadowed by limitations and compromises. Here are the five challenges that cause CFOs to look for alternatives to QuickBooks Online.

What will your business look like coming out of the pandemic? You might think it’s too early to tell or that circumstances are out of your control, but this is no time to be passive. With the help of business continuity consulting, you can be prepared for whatever is next.

BetterSpaces focuses on growth and avoids the cost and time required to build and manage their own finance operations by subscribing to AcctTwo’s Managed Accounting Services.

Keith Angell, BetterSpaces’ Co-founder and CFO, was kind enough to sit down with Peter Wagner, AcctTwo’s Director of Marketing, to talk about what led him and BetterSpaces to outsource, rather than build, their finance function.

AcctTwo’s Head of Nonprofit, Allison Webb, was the latest guest on Ministry Architects’ webinar: “How to Be More Confident in Your Church Finances for 2021”. Allison and Jeff Dunn-Rankin, Ministry Architects’ Executive Vice President, talked about how to make fiscally wise decisions for your church finance digital transformation in 2021.

Last week Marcus Wagner, AcctTwo's Founder & CEO, presented a webinar with Bill.com on how to bolster business resilience with a proactive plan. COVID-19 has brought upon unprecedented challenges and changes for businesses of all sizes. It’s critical to begin the shift into the learning and adaptation phases as quickly as possible to be able to emerge stronger from the pandemic.

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.

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.” 

No matter the size of your company, there is nothing more critical than the ability to generate and manage cash. Cash is the lifeblood of the company; and the most critical factor in survival. Nearly 40% of startups fail because of financial challenges; and while that number certainly has the potential to grow with COVID-19, we want to share some practical cash management advice to not only weather this unprecedented time, but also put in place responsible cash management practices that will serve you well now and in the future. 

How a Modern Financial Management Software Helps with Sound Transaction Management

At AcctTwo, when we refer to Sound Transaction Management we mean setting up the right chart of accounts, optimizing the order-to-cash and procure-to-pay processes, and capturing all the relevant information in the right place.