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Budgeting Software
Hi all! The foundation I work as an accountant for is looking for a fairly simple budgeting software to utilize. In past years we have used Excel to create all of our budgets but we found it to be cumbersome and overwhelming to make sure everything linked properly between individual and consolidated worksheets. We are…
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Paperless agreement letters
Hi All! Are any of you using electronic agreement letters? We currently email out our agreement letters and ask the grantee to sign and (snail mail) back a hard copy of the signed agreement letter. We are looking into going electronic to receive the agreement letter- however we award close to 300 grants a quarter and…
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Moved: Policy & procedures manual
This discussion has been moved.
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Preparing for Year-End: Follow-up discussion for 09-17-2020 Coffee Talk
Lets keep the conversation going! How is everyone preparing for the year-end spike in activity in a virtual world?
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Board meeting presentation for small annual grants, fundraisers and memberships
I am seeking suggestions on board meeting presentation of hundreds of small annual grants rather than just going down a list. I have now added categories and I am dividing them by time of year paid which helps make the long list visually not as terrible. Does anyone have any other suggestions on how to present the…
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Sending Scholarship Funds Electronically
We would like to stop sending some scholarship checks to colleges via the mail. Are any of you electronically sending scholarship funds? Is there an issue with the Student ID or batching checks? We thought we might test the process with a smaller local University vs a state University. Are we biting off more than we can…
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Financial Due Diligence Forms
Hi all! Asking about financial due diligence best practices that others use? I'm particularly interested if anyone utilizes (and will share) a form to help walk them through assessing an organization's audits and/or financial statements? Anything that identifies particular industry standard metrics to determine financial…
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Share your Accounting resources! (CPA, PEO, OCIO, CPE, etc!)
During today's Finance Coffee Talk, many of you shared great accounting resources. I've listed those that were shared via the chat below. Let's keep sharing your resources and tips here, so everyone can benefit! esmartpayroll.com for W-2, W-2C, 1099-MISC, 940, 941, etc. yearli.com for 1099 and W-2 processing Gusto for…
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Audit
Hi everyone! We are doing our first audit with this system and our auditor is used to Quick Books reports. I'm trying to find a detailed GL that is comparable to what their company is used to, but the GL report CSuite pulls is not what they want. Has anyone had issues like this?
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Investment Activity/Revenue Share
How is everyone reporting their investment activity to their fund holders? Are you reporting monthly, quarterly or both? Do you provide interest/dividends, all gains(losses), etc or just balance and grant/contribution information? We have been entering investment information monthly, but not reporting on it until after the…
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Accounting Software
Does anyone use an accounting software they love and would like to recommend? What do you love about it?
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Documentation required before sending a check to a college or university
I'm wondering what documentation we should be asking of the scholarship recipient before we can send a tuition payment to their college or university. In the past we've asked for a copy of the bill the college sends to the student during the summer. Is that adequate? Is there something else that would work just as well?…
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Calculating Admin Fees-Using Average Daily Balance or Average Trailing Quarters
With the market declining so much in the past 2 months, I am looking at how our Admin fees are calculated. We have been using the Average Daily Balance option, but since I reconcile only once a month, the system thinks the balance stays the same until the end of the next month. This has resulted in higher admin fees than I…
