Understanding Your Association’s Budgets & Cashflows

By |2023-01-12T12:35:52-06:00January 12th, 2023|

It’s a New Year with new opportunities for your association. One of the key elements of a successful association is understanding your current budgets and cashflows. Here are some tips on how to effectively conduct a financial audit for your association.  An Effective Financial Audit  Having the capability to [...]

Understanding Your Association’s Budgets and Cashflow

By |2022-10-13T08:53:40-05:00October 13th, 2022|

Budgets and cashflow analysis are important management tools to allow an association to properly manage their performance, allowing them to plan and make informed decisions relating to planning, resource allocations and funding requirements. Preparing budgets and cashflow forecasts can give you a more realistic measure of where your association [...]

What Associations Can Learn from Regret

By |2022-10-05T09:15:16-05:00October 4th, 2022|

Your association board has been approached to make a statement about Equity, Diversity, and Inclusion (EDI/DEI). In feeling the pressure to do something, members of the board create a statement and post it on the association’s website. A group sees this post and starts posting negative comments on social [...]

How to Handle the Loss of an Association’s Accounting Software

By |2022-09-29T13:07:40-05:00September 29th, 2022|

In today's world, we rely on technology, software, and automation for a lot of our work. It is no different in the association world, and the need for the right software is paramount in how an association is functioning. Software is essential to an accounting department's efficiency, speed of [...]

Association Membership Recruitment

By |2022-08-11T11:36:16-05:00August 11th, 2022|

Association members usually fall into two categories: mandatory and voluntary membership. While mandatory associations typically support regulated professions, voluntary associations can be a community of like-minded industry professionals, general enthusiasts, or businesses whose combined dedication allows the organization to exist. Membership recruitment comes into play for voluntary associations since [...]

Readiness – Is Your Board Ready to Think Strategically?

By |2022-07-15T08:58:54-05:00July 14th, 2022|

Not many people roll out of bed daily asking: “How can I think strategically today as a volunteer board member”? All volunteer board members come to the board table with a skill set and a level of knowledge that benefits the association/profession with which they are involved. They are [...]

Association Reserve Funds

By |2022-06-23T11:22:37-05:00June 23rd, 2022|

What is a Reserve Fund? Reserve Funds are liquid assets that associations set aside for anticipated future expenditures, or to serve as a cushion against any unplanned expenses. Five Best Practices for Managing your Restricted (Reserve) Funds Use the Class tracking functionality in your accounting software If your association [...]

The Benefits of Enterprise Resource Planning (ERP) Software for Association Management

By |2022-06-09T11:13:42-05:00May 30th, 2022|

For any association, your accounting department plays a vital role in your day-to-day operations. Accountants provide insights into the policy and governance of associations and work to ensure the association’s mission, vision, and regulations are met. When there is a lack of internal control systems, inefficiencies can arise in [...]

Accounting for Associations: Not-for-Profit Financial Management

By |2022-03-10T14:02:26-06:00March 10th, 2022|

Not-for-profit accounting is a unique process by which not-for-profit organizations plan, record, and report their finances to a committee or Board of Directors. Associations are a type of not-for-profit organization, and so the focus is on the accountability aspect of the accounting. They follow a set of standards that [...]

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