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 [...]

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 [...]

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 [...]

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. [...]

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 [...]

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