Webinars

The COVID-19 pandemic has led to extraordinary challenges for nonprofit organizations and their leaders. While focusing on shrinking funding to continue their important missions, nonprofits must also grapple with the impact of remote work which has changed the nature of their operations and introduced new complexities for internal controls. In their roles as advisors, board members have a fiduciary duty to support overwhelmed nonprofit staff through these challenging times. Armed with the right knowledge, board members can also help the organization seize opportunities for digital transformation that will provide benefits well into the future.

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Sage Intacct Advanced CRM Integration for Nonprofits allows you to gain strategic insight with combined CRM and financial data. You choose the right level of visibility for analysis and decision-making with flexible summary or detail options based on the revenue stream.

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How much paper do you think goes in and out of your accounts payable (AP) department each week, month, and year? We would bet it’s a lot. When you, or your AP team, are dealing with paper invoices and checks you could be spending more time tracking them down than you are reviewing and approving. It’s inevitable that some will likely be lost or misplaced during the process, which could even lead to inaccurate spend and prevent you from forecasting correctly in the future.

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Multi-currency accounting is one of the biggest challenges organizations face when going global. If you’re a domestic company growing your global reach, or a global company struggling with managing multiple currencies, best in class financial accounting software can save you weeks of manual labor while giving you the global information you need at your fingertips.

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If your nonprofit manages several grants or relies on grants for the majority of your funding, compliance and reporting are critical to your stability. Effective grants financial management is required to support your mission’s success. But it’s more than just a budget compared to actual. You need to track endless documents, special data fields, and in some cases have the ability to bill costs back to your funders.

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In today’s environment, many organizations are putting the microscope on spend. Now more than ever, there are some areas where we just can’t afford to go outside our approved budget. Traditional paper-based workflows for purchasing and AP quickly showed their inefficiencies when the world was forced to become more digital. Disconnected purchasing systems lack the ability to give us closer to real-time insight on budget vs. actual, what’s been committed, and what we have left to spend. All these challenges point to the need for procurement and spend management capabilities readily available in your accounting platform.

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Another Sage Intacct quarterly release is here! Sage Intacct, a best in class cloud financial management platform, is the first and only cloud financial management solution endorsed by the AICPA. One of its many outstanding qualities is the frequency of new feature releases; Sage Intacct seamlessly releases four quarterly releases per year.

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Like many areas of our lives in 2020, Employee Benefit Plans also experienced a number of significant changes as a result of the pandemic and the CARES Act. Plan sponsors should take note that the approval of two new audit reporting standards, SAS 134 and SAS 136, will likely impact the performance and timing of your audit. For the first time in many years, there are also changes to how employers must attest to their annual limited-scope audits.

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After surviving the sudden shift to remote work, nonprofits and associations are now asking what else they can do to streamline finances and operations. The global pandemic presents a unique opportunity to make some strategic changes in your organization that will help you minimize risks, focus scarce resources on your mission, and build your organization’s long-term sustainability.

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New updates to SAS No. 134 are making fundamental changes to the layout of audit reports and overall information presented in order to enhance the communicative value and relevance of audit reporting.

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