Hiring Interns: How it Benefits an Association

By |2022-10-20T10:53:59-05:00October 20th, 2022|

As an association, it’s important to stay relevant, innovative, and invested in the future of our industry. Hiring interns can help an association do just that by helping to bring in a fresh new perspective, provide additional staffing resources, and increase productivity. It also enables the intern to get [...]

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 [...]

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 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 [...]

Investing for Associations: How to Handle Your Cash

By |2021-06-18T08:52:28-05:00June 17th, 2021|

As an association management company, we are interested in presenting our clients with smart financial options. One thing we consistently monitor is when associations have enough cash to take advantage of some investment options. Circumstances can change quickly, certainly during the current economic state of the market, so these [...]

Ready to Be a Successful Board Leader?

By |2021-04-29T11:03:30-05:00April 29th, 2021|

You have been nominated and are now a newly appointed board member. You were either recruited for your skillset or you volunteered for this position because you have a passionate desire to make an impact in your field. Now it’s time to learn how to effectively contribute and see [...]

What are the Financial Responsibilities of an Association Board?

By |2021-04-21T15:09:13-05:00March 25th, 2021|

So, you have volunteered to become an association board leader, but what responsibilities does this position entail? Specifically, overseeing the financials can be a barrier to a fully engaged board. Some may feel uncomfortable reviewing financial information and providing the required oversight to the financial affairs of an association. [...]

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