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AcctTwo Blog

Spreadsheets in Finance: Manual rollups, errors, needless complexity, and simplistic reporting

We've posted before about the dangers of Excel-based reporting and other spreadsheet pitfalls in finance and accounting. Spreadsheets are an indispensable tool for some personal productivity and job functions, but they can be a hindrance to effective processes and controls in finance and accounting departments.

Topics: Blog spreadsheets accounting software White Paper Excel Featured Posts Awareness

Church Accounting Basics - Part 4: Employee - To Be or Not to Be

Why does it have to be so complicated?

If your church is anything like mine, you are constantly trying to navigate the requirements of our nation’s employment laws. When researching the topic of “employee versus independent contractor,” what I find is consistently inconsistent. It’s easy to get lost in the lack of interpretation.

Topics: Blog Fraud internal controls Informational Featured Posts Church Accounting Basics Awareness Employee vs. Contractor Not-for-Profit and Faith-Based

Church Accounting Basics - Part 3: Internal Controls Keep Fraud at Bay

“What happens in accounting, stays in accounting.”

If your finance team’s motto goes something like this, you might have an internal controls problem.

Internal controls are put in place to clearly define proper procedures for finance and accounting team members, to minimize risk, and to alleviate suspicion. Even churches must mitigate risk and ensure that policies and procedures are in place and functioning as intended.

Topics: Blog Fraud internal controls Informational Featured Posts Church Accounting Basics Awareness Not-for-Profit and Faith-Based

SPI Research: Professional Services Market Still Growing, but Also Faces Challenges

Last year, we posted a white paper from Service Performance Insight (SPI Research) that made the announcement, "The Professional Services Market is Back!" That document described not only the state of union for PSOs, but also recommended the Key Performance Indicators (KPIs) that Professional Services organizations should be measuring in order to maintain growth and organizational health.

Topics: Professional Services Industry White Paper Financial Analysis, Ratios and KPIs Awareness

Church Accounting Basics - Part 2: Church Audits

Know the 4 V's

Depending on your role at the church, you’ll hear the word “audit” and come to one of two conclusions:

If you’re the finance manager, you understand the need for the substantiation of the integrity of the data — even though an audit can add to your already busy workload.

Topics: Blog Informational Featured Posts Church Accounting Basics Awareness Not-for-Profit and Faith-Based

Blessed are the Flexible! Part 4 - Analytics

This is Part 4 of our Blessed are the Flexible Series. Click here to read Part 3 about Accountability.

Being good stewards of the resources God has provided is not just something we hope we can do. It is required for operating more effectively and efficiently. The concept of being effective and efficient is the cornerstone of a business’s ability to be profitable or not. Even though churches do not exist to make a "profit”, we must make good, educated business decisions so that every dollar spent fulfills the church's mission. Businesses determine their effectiveness and efficiency by measuring performance against targets, goals or previous performance. 

Topics: Blog management reporting Blessed are the Flexible Awareness Not-for-Profit and Faith-Based

Software CEO / CFO Outlook 2015

The fourth annual Software CFO/CEO Outlook Report is out for 2015. From a high level overview of industry trends to drilled-down views of specific concerns and tactics sliced by company size, the study by Sand Hill Group's CEO M.R. Rangaswami is an invaluable tool for any company in the software and technology industry. The report describes two major themes in the survey data:

Topics: Blog White Paper Software and Technology Industry Awareness

Don't Be Scared: How to Get Your Company's Financials Audit-Ready

For financial professionals, independent external audits of GAAP financial statements are an inescapable reality. For public companies, it’s a statutory requirement under SEC regulations and for many fast-growing private companies, it’s a necessity to meet the demands of lenders, VCs, and other stakeholders. There is even a possibility that the IRS could require a financial statement audit as part of a broader tax audit.

Topics: Blog Taxes White Paper Informational Audit and Internal Controls Awareness

5 Questions CFOs Need to Ask

Originally posted on Intacct's View from the Cloud Blog:

A recent survey of Fortune 1000 CFOs found that the vast majority—81%—felt they worked at companies that viewed their finance operation as a “strategic business partner,” involving the CFO in top-level decision-making as never before.

Topics: Blog View from the Cloud Intacct Awareness

Blessed are the Flexible! Part 3 – Accountability

This is Part 3 of our Blessed are the Flexible Series. Click here to read Part 2 about Automation.

When I think of accountability it isn’t necessarily a hard concept to wrap my head around. It is the willingness to accept responsibility. It can become tricky if you are responsible for managing something that you don’t have full control over.

Topics: Blog Planning, Budgeting and Forecasting Blessed are the Flexible Awareness Not-for-Profit and Faith-Based