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5 Tips for Community Health Centers to Transition to New Fund Accounting Software

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The right fund accounting software can save you time and streamline your processes. Here are five tips to help your community health center’s fund accounting implementation smooth and seamless. In a small, grant-funded organization, you might not have these skills and that’s ok!

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5 Ways Fund Accounting Simplifies Financial Reporting for Community Health Centers

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With multiple points of accountability and dynamic funding sources, accounting professionals in community health centers face complex challenges. And with that form of funding comes significant compliance requirements. With fund accounting software, you get an extra level of control over grant expense tracking and reporting.

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Don’t Jeopardize Your Nonprofit Compliance with a Commercial Accounting System?

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Grant-funded nonprofits know compliance isn’t a nice-to-have. If all your Ts aren’t crossed and your Is aren’t dotted on your grant reporting, your chances of repeat funding from that entity are low. When your accounting system is not built to handle restricted funding , each report can feel like a fire drill. It’s a must-have.

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7 Ways Your Nonprofit Can Build a Strong Financial Foundation in 2024

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Create an Operating Reserve Fund (or Review Your Policy) An operating reserve is a crucial part of creating a strong financial foundation for your organization. Like an emergency fund for your organization, an operating reserve allows you time to make data-driven decisions instead of having to react immediately.

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Beyond the Audit: 6 Best Practices to Build and Strengthen Your Relationship with Your Audit Firm

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In recent years, relationships between nonprofit organizations and their auditors have seen positive change. Audit teams would then be caught off guard, unaware of either newly implemented accounting systems, new chart of accounts, or changes in processes and management roles.

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10 Considerations for Creating a Budgeting Process

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But as your organization grows and changes, you also need to update your financial direction. In addition to reviewing and updating your nonprofit operating budget each year, your financial team should also regularly evaluate your process for creating that document. Update your documentation each time you review your budgeting process.

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4 Ways to Take the Stress Out of Your Nonprofit Remote Audit

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Very few people enjoy being on the organization side of a nonprofit financial audit. These check-ins are a great place to share updates happening with your organization—such as new grants or an unusual donation—and for them to share changes they are watching in legislation and regulations that might affect you.

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