Blog - for Nonprofits and Small Business

What is a Restricted Grant and How to Handle It? – A Nonprofit Guide

The restricted grants in Nonprofits are the reserved funds designated by donors to be utilized only for specific purposes. The purpose and the time to use the funds are determined by the donor, giving them assurance their gifted money is being used as they wish. If you donate money to a Nonprofit today and want that money to be used for a particular event next year, the organization records your donation as a restricted fund in their books.

fund accounting, Nonprofit, Restricted fund, Restricted Grant

The Evolution of the modern Accounts Payable: why you need to gear up for the future

Looking at the kind of technological advances the world has achieved in the last century, it doesn’t come as a surprise that such incredibly advanced systems are available to automate and streamline Account payables, with such accuracy and efficiency.

Accounts payables, AP evolution, automation, cloud accounting software, cougar mountain software, denali, Digital transformation

The Evolution of the Modern Accounts Payable: Automation fits well for Mid-Market Firms too

When you hear the words automation mentioned along with the Accounts Payable process, how are you NOT intimidated? This isn’t some fancy tech meant only for mammoth organizations or process rich organizations. AP automation would fit the bill for any organization size, or type of industry. Mid-market firms, like yours could benefit heavily from the right AP automation software.

accounts payable, AP automation software, automation, cloud automation software, cougar mountain software, denali

4 Key Areas that Will Transform Your Accounting Today.

Whether you’re a small business or a multimillion-dollar firm, Accounting and managing your financial power effectively is a complicated yet achievable task with the help of trained professionals and accounting software. Staffing your accounting department with professionals that can help you run your paychecks and cash flow smoothly is one thing. But on the other hand, equipping them with the necessary tools is another.

Accounting Software, financial management, Invoice, payroll

6 Specific Financial Pitfalls that all Nonprofits Should Avoid

Whenever I hear Nonprofit, I think of men and women with angelic faces, wearing white clothes and big smiles (with an imaginary halo over their heads), doing humanitarian work with no need or want for any reward in return. Especially monetary rewards.

Well, sorry to burst the bubble, but the myths are untrue.

ACFE, cougar mountain software, denali, financial risk, fraudulent activities, nonprofit organization financials, pitfalls, Risk

Why you should migrate to the cloud with your NFP Accounting

Cloud technology is considered to be one of the tenets of Digital Transformation. Organizations across the world have adopted the cloud, streamlining business in the process. For Nonprofit organizations, it helps to communicate easily with donors, within the organization, manage marketing and fundraising campaigns, etc. Since cloud is, obviously, everywhere, it’s no more necessary for Nonprofit organizations to even set foot in the office or purchase multiple licenses.

cloud accounting, cloud accounting software, cougar mountain software, denali, NFP, NFP accounting, nonprofit organization, Not for profit

Hand-pick your Nonprofit accounting software. A complete Guide.

Running a Nonprofit is different from managing a conventional business. Likewise, Nonprofit accounting is different from for-profit accounting. Managing unique revenue streams such as donations, membership dues, program revenues, grants, and investment income needs software capable of recognizing and accounting for it. In addition, an accounting solution that provides the highest levels of transparency and accountability is necessary to help your Nonprofit organization make reliable, strategic decisions and avoid violating the public’s trust.

Accounting Software, fund accounting, Nonprofit Accounting

4 steps to Digitally transform your accounting practice

Although the concept of digital transformation is an important change all businesses are trying to adopt right now, innovation in the financial sector is a whole different argument. The need for innovation in the financial sector, and the urgency of the case has reached saturation by the advent of digital transformation. The recent pandemic has only highlighted how much more urgency we should be putting into the matter

Accounting Software, automation, bottom line, cloud accounting, cougar mountain software, digital accounting transformation, Digital transformation, tech landscape