August 23, 2024
Charles Lutwidge
What is Legal E-Billing?
The average time to process an invoice manually is nearly 14 days. It is irrational to spend so much time in today’s dynamic business environment. That is why small and mid-sized legal companies consider “process automation” and “implementation of new...
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August 09, 2024
Charles Lutwidge
A Guide to Financial Reporting Automation
The global trend toward automation of business workflows is actively changing accounting systems. Financial reporting automation transforms traditional manual processes of report preparation by incorporating technology to improve efficiency, accuracy, compliance, and overall decision-making capabilities. This advancement simplifies the tasks...
July 29, 2024
Charles Lutwidge
What’s the Difference between Treasury and Cash Management
A company’s stability rests upon the capacity of its leadership to direct financial flows, attract potential investors, and mitigate risks before they manifest and damage a firm’s standing. In this guide, we will explore the subtle differences between treasury and...
July 22, 2024
Charles Lutwidge
Is Accounts Payable Outsourcing the Best Choice for Business?
When it comes to modernizing the internal accounting workflow, accounts payable outsourcing becomes a strategic move. Organizations delegate their AP duties to specialized third-party services that cover a wide array of activities, from handling receipts to communication with suppliers. Proper...
July 17, 2024
Charles Lutwidge
How to Master Church Payroll: Compliance, Deductions and Software
Church payroll is a process of providing ministers, staff members, volunteers, and contract workers with timely compensations to ensure satisfaction. Its key difference from regular payments is that it includes housing allowances for clergy. In this guide, we will analyze...
July 09, 2024
Charles Lutwidge
What is The Difference Between Government and Nonprofit Accounting?
Even though state entities and non-profit organizations utilize similar accounting practices, considering them the same would be a mistake. Understanding the distinctions between government and nonprofit accounting is the only way to achieve congruity with U.S. laws. In this blog...
July 04, 2024
Charles Lutwidge
Your Complete Guide to Crafting a Church Chart of Accounts
When it comes to church accounting, financial statements usually look different from those of business and nonprofit organizations. However, your religious institution needs accurate, actual financial documents to pay taxes and report to sponsors correctly. The church chart of accounts...
July 01, 2024
Charles Lutwidge
Nonprofit Cash Flow Statement: A Comprehensive Guide
Cash flow control is a fundamental aspect of ensuring the success and longevity of nonprofits. By having an error-free cash flow statement, managers and financial professionals can gain meaningful insights into their financial health, allowing them to plan effectively, meet...
