Finance Management Archives - Page 2 of 6

What’s good about paperwork for money

by Suzanne Bakker | Jan 27, 2024 | Finance Management, Nonprofit management

The thing most nonprofits dislike most about money is the bureaucracy. Or maybe it’s just a feeling of bureaucracy around managing money properly. The endless form-filling. Signing this or that. Why can’t it be easy???? Let me tell you what’s good about paperwork for...

Why are financial controls important for nonprofit organizations?

by Suzanne Bakker | Oct 27, 2023 | Finance Management

“Ahhhhh no, do we really NEED this?” This is usually how someone asks me the question: Why are financial controls important for nonprofit organizations? What’s the problem? The reason why I often hear desperate ‘ahhhhhhhs’ is that most nonprofits are small. So most of...

You can go bankrupt even if you have project money

by Suzanne Bakker | Aug 26, 2023 | Finance Management

You can go bankrupt even if you have project money if you make a mistake with how you spend your money. Spending outside the project budget For instance, if you are spending money on services and goods that are not part of the budget. Or if you are overspending...

What if your project budget doesn’t include everything you need?

by Suzanne Bakker | Apr 24, 2022 | Finance Management, Project Design

What if you are implementing your grant and realize that you have made a mistake in your budget? What if your project budget doesn’t include everything you need? Four reasons why your project budget may not include everything you need There are several reasons why...

How to go about ensuring completeness of your accounts?

by Suzanne Bakker | Dec 12, 2021 | Annual Reporting, Finance Management

December is for many of us the final month not just of the calendar year but also of the book year, the fiscal year. If you work with finance in your nonprofit, you are focusing on being sure you have all the needed data for closing the book year. So how to go about...

Look ahead at your planning and expenses

by Suzanne Bakker | Nov 28, 2021 | Finance Management

Now that you have developed ways to have insight into your expenses, we can start looking ahead. It is good (great, even!) to have insight into what you spent, but remember, this is the past you’re looking at. And you also need to look at the future. What resources do...