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Why is Operating Reserve Important for nonprofit Organization?

Why is Operating Reserve Important for Nonprofit Organization

Business worldwide has suffered negative impacts due to the pandemic crisis, and nonprofit organizations are no exception. Faced with so many difficulties, several organizations are clinging to life as there is a considerable dip in contributions. Organizations that carefully planned their operational reserves had the lifeline during this crisis and have proven to be an essential factor now than ever before.

nonprofit organization, nonprofits, Operating Reserve.

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

What-is-a-Restricted-Grant-and-How-to-Handle-It

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

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The Evolution of the modern Accounts Payable: the dynamics of future tech in your organization

The-Evolution-of-Modern-Accounts-Payable---Part-3

Automation in broad terms, is simply taking any repetitive manual process and having a system run it with minimal human intervention. This is a concept technology that is employed in pretty much every industry now, and seems to only keep growing in potential with the advent of AI and Machine Learning.

AP automation, automation, cloud accounting software, cougar mountain software, denali

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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

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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

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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

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