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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 Faith-Based internal controls Informational Featured Posts Church Accounting Basics Awareness Employee vs. Contractor

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 Faith-Based internal controls Informational Featured Posts Church Accounting Basics 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 Faith-Based Informational Featured Posts Church Accounting Basics Awareness

Are Replicated, Shared Ledgers the Way of the Future?

At a recent Information Technology Alliance (ITA) Conference, a gathering of mid-market technology professionals, I was lucky enough to hear a presentation by Gary Golden, a Futurist. He spoke a good bit about foresight and trends, particularly business and technology trends, but he left us with one last, and it seemed, very important concept - "blockchains." 

Topics: Blog Informational Featured Posts Awareness

Blessed are the Flexible! Part 2 - Automation

This is Part 2 of our Blessed are the Flexible Series. Click here to read part one.

The Young and the "Seasoned"

I think there are two groups of people - and keep in mind this opinion is coming from a seasoned individual, which is a nice way of referring to the “older generation.” There are the older folks that are comfortable with manual workflows – passing paper like a relay baton. It works, right?

Topics: Blog Faith-Based Software Evaluation Automation and Workflow Featured Posts Blessed are the Flexible Awareness

The Economics of Cloud Financial Software

At first glance, the cost of moving to a new finance and accounting solution might appear daunting. That is, until you look at cloud options. That's the word from The Economics of Cloud Financial Software, a free white paper from Vital Analysis, a subsidiary of TechVentive.

Topics: Blog accounting software Cloud Computing / SaaS Software Evaluation vital analysis Featured Posts techventive Consideration

Finance Automation - Is the New Bookkeeper a Robot?

 

In a recent article in the Wall Street Journal entitled "The New Bookkeeper is a Robot," Vipal Monga (sort of) makes that claim. What he's really talking about, however, is automation in the finance department and its increasing importance. And he cites some powerful trends that can be tied directly to an increase in finance and back-office automation

Topics: Blog Informational Featured Posts Finance Automation Awareness

Church Accounting Basics - Part 1

The Healthy Church

The Bible has a clear definition of faith in Hebrews 11:1 — “Now faith is the assurance of things hoped for, the conviction of things not seen.” Simply put, the biblical definition of faith is “trusting in something you cannot explicitly prove.” As church leaders, we walk every day in faith.

Topics: Blog Faith-Based Informational Featured Posts Church Accounting Basics Awareness

The 6 Keys to Transforming Your Finance and Accounting Organization – Key #6

For Finance Professionals Who Are Looking to Add Strategic Value to Their Organization

Well, this is it: the sixth post in our series, Implementing Change – The 6 Keys to Transforming Your Finance and Accounting Function.

We’re excited that you’ve decided to take the first step on your journey towards transforming your finance and accounting organization – either through implementing new software, engaging consultants to streamline processes and systems, or outsourcing certain functions.

Topics: Blog 6 Keys to Transforming Your Finance and Accounting eBook Software Evaluation Informational Featured Posts Decision