Managing Cash Flow During Crisis

By |2020-12-03T15:56:40-06:00December 3rd, 2020|

Cash flow is an important concept for association staff, volunteers, and leaders to understand especially for small or medium sized associations. A previous article I wrote discusses what cash flow is and how it differs from profit on an income statement. It also includes some ideas to improve cash [...]

Hosting an Association Meeting in Quebec? You Must Collect Québec Sales Tax!

By |2020-11-20T11:18:52-06:00November 19th, 2020|

This article will summarize what a non-profit association should know when registering for Québec Sales Tax (QST) after hosting events in Québec. Events Held in Québec If your association is hosting an event in Québec, it must collect 14.975% QST even if you are not required to collect GST/HST. Even [...]

Association Ethics for Staff and Volunteers

By |2020-10-27T15:15:35-05:00September 17th, 2020|

Ethical behaviour means acting in ways that are consistent with behaviours that society, individuals, and businesses have deemed to be “proper” or “correct.” Good values involve demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity, and individual rights[1]. The most important influence on ethical values [...]

GST/HST and QST on Registration Fees for Virtual Meetings and Trade Shows

By |2020-10-28T09:00:49-05:00August 6th, 2020|

Many associations have been forced to cancel in-person professional development meetings and/or trade shows because of the COVID-19 pandemic, as described in my colleagues' recent article Association Trade Shows Gone Virtual. The cancellation of these events both reduces the value of association membership and threatens some association’s financial sustainability. Virtual [...]

Financial Tips for Managing an Association’s Money During a Crisis

By |2020-10-21T15:51:46-05:00May 21st, 2020|

These are unprecedented times that most of us we are living in right now. With the COVID-19 pandemic, financial hardship is undoubtedly a concern for many associations. I have put together a few tips to make sure your association are doing all it can do to manage finances in [...]

How to Make an Effective Association Budget

By |2020-10-29T16:18:37-05:00January 30th, 2020|

It’s no secret that budgeting is a vital part of running a successful association. Often it can seem like an overwhelming task, but it doesn’t need to be complicated. With effective budgeting, you will be able to ensure your association is set up for long term viability by focusing [...]

How to Know When Your Association Needs Help from a Professional Accountant

By |2020-11-18T15:53:33-06:00October 17th, 2019|

There are many challenges in managing an association. Especially a small one that doesn't have endless resources or a need for numerous full-time staff members. For a small association in particular, the accounting most likely does not require the work of a full-time accountant. However, it's still important to [...]

Boost Your Association’s Financial Knowledge

By |2020-10-21T15:15:50-05:00July 18th, 2019|

One of the things I have noticed in my experience as an accounting manager is that when it comes to association finances, in many cases the only people familiar with them are the finance staff and board members. Most of the time this is because that is how it’s [...]

Is Your Association Set Up to Prevent Fraud?

By |2020-10-14T15:57:12-05:00March 13th, 2019|

It’s no secret that fraud is a large risk to any organization. There are numerous ways fraudulent activity could take place in an accounting system and it’s important to understand your risk factors and to take into consideration several things to prevent fraud in an association. Smaller associations are [...]

Understanding Accounting to Better Manage Your Association

By |2020-10-21T15:19:08-05:00December 13th, 2018|

As an accountant working with associations, one question I’ve been asked is, “What is the difference between management accounting and financial accounting?” These are two distinctly different areas of accounting, and if you didn’t study accounting, this is probably something you were not aware of. Up until 2016, these [...]

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