We know managing budgets is a pain point for many nonprofits (in fact “managing your budget better” is the number one episode topic request). If you find your budget painful, this episode is for you! Join Jessyca Leach for insider tips on building a stronger budget, managing it easier, and ultimately setting your nonprofit up for sustainability.
Listen to the Episode Here!
Links
Website: Southwest Center
Behind the scenes is often viewed as less important,
Website: NetSuite
Website: Intacct
Podcast: Ep 115: Streamline Your Nonprofit Finance Department with Kelsey Vatsaas
Podcast: Ep 194: Big Accounting Mistakes and their Simple Solutions with Germeen Guillaume
Timestamps
(04:10) Your first day as a new CFO.
(05:40) Staffing your accounting office.
(08:10) Auditor vs Accountant vs Bookkeeper.
(11:50) Building a budget
(16:40) The role of the Finance Committee in the budget process
(17:45) Budgeting for justice, equity, diversity, and inclusion
(22:10) Budgeting for insurance
(27:17) Automating the back office
(30:50) Jessyca’s feelings about QuickBooks (plus alternatives)
Finally, Behind the scenes is often viewed as less important, so nonprofits need to both hire and retain really strong accountants.
In conclusion, Internal controls are the guiding book of everything you do in an accounting office.
Finally, You can do more with less if you create the processes to move things along.
In Conclusion, You are competing with the whole city for accountants. Nonprofits will not get qualified people if they pay less.
Finally, Your budget should be entirely based on what you’re planning for the next year and the next year and the next year
Looking at your budget from a single year perspective is where so many nonprofits get into trouble because it doesn’t consider sustainability
A budget always starts with people