November 27, 2024
Charles Lutwidge
What Is a General Ledger Reconciliation?
Every business owner wants their firm to have clean books and records. General ledger reconciliation is a standard procedure that can help with that. It confirms that every entry is up-to-date and in line with the business’s transactions. In today’s...
Delegate your financial records to a highly qualified bookkeeper and forget about bookkeeping stress forever.
November 22, 2024
Charles Lutwidge
How to Automate B2B Payments?
Not long ago, business-to-business (B2B) payments involved companies manually sending bills, issuing approvals, and processing checks. In recent years, firms have increasingly automated these procedures to adopt fast and accurate electronic payments instead of interacting with physical checks. Specialized software...
November 20, 2024
Charles Lutwidge
How Does Automated Invoicing Work?
Manually entering invoices into an enterprise resource planning (ERP) or accounting system is time-consuming for 68% of firms, while 32% of entrepreneurs profit from automation. Imagine how many working hours and money you can save by delegating this work to...
November 11, 2024
Charles Lutwidge
What is a Statement of Functional Expenses for Nonprofits?
Nonprofit organizations should uphold high financial reporting standards to benefit from tax exemptions. Recording operational expenditures may be arduous, but it allows entities to win benefactors’ support and remain accountable. A public-benefit foundation must track its spending and earnings to...
November 06, 2024
Charles Lutwidge
Why SaaS Business Needs a Fractional CFO?
SaaS business owners often do not have the time or resources to keep finances in order. This issue comes to the forefront when they decide to scale up operations. Hiring a Chief Financial Officer may be too expensive if funds...
October 29, 2024
Charles Lutwidge
A Comprehensive Guide to Creating a Church Budget
Spending the available resources wisely is the only way to ensure the sustainable future of a congregation and fund charitable activities. By embracing the best financial stewardship practices, churches get a strategic tool at their disposal that enables them to...
October 21, 2024
Charles Lutwidge
How to Accept Stock Donations as a Nonprofit?
Nonprofit organizations (NPOs) enhance financial health by diversifying revenue sources. Even though getting equities is a common practice, learning how to accept stock donations opens new opportunities for any philanthropic organization. However, mastering the intricacies of the accounting procedures is...
October 18, 2024
Charles Lutwidge
How to Comply with GAAP Rules for Nonprofits?
Maintaining the financial strength of an organization necessitates learning how to meet existing regulations. Generally Accepted Accounting Principles (GAAP) enable companies to achieve strategic goals while remaining fully transparent. Charitable organizations align their practices with current regulations to win investors’...
