Category

MIP Fund Accounting

Jan 28
0

Abila MIP Fund Accounting Training

By | Abila, MIP Fund Accounting, Nonprofit | No Comments

Hands-on Classroom Training Overview:

Abila MIP Fund Accounting Classroom hands-on training offered in Seattle (Kirkland) area at the premier training facility in the area.  Learn best practices of your MIP Fund accounting system by taking classroom training from a CPA and Certified Trainer.  Please contact Vicki Welter (vicki@welter-consulting.com or 206-605-3113) if you have any questions or need additional information to determine what training class(es) are best for you.

iStock_000028079722SmallClass Location:

Computer Classrooms in Seattle
10604 NE 38th Place, Suite 118
Kirkland, WA 98033
(425) 576-9747 Ext 0

For directions – http://www.computerclassroomsinseattle.com/Pages/directions.htm

 

Class Details:

  • Classes held from 8:30 to 4:00 daily
  • Free parking (check in at front desk after your arrival and you will be shown to the classroom)
  • Breakfast, snacks & beverages served all day (lunch on your own – a list of restaurants and directions will be provided or you can bring your lunch).
  • Individual workstation and class materials are provided for each student.  Access to complimentary WiFi throughout the training facility.
  • Bring examples of reports or specific issues you have, so we can discuss/resolve in class.
  • 6 hours of CPE for each day of class and completion certificate provided to each student
  • There must be a minimum of 4 attendees to hold each class.  As soon as the minimum attendance is met, you will receive confirmation me by email, including an invoice to remit payment.
    • In the event of class cancellation from low attendance, communication will be sent by me via email, no later than 2 full weeks prior to the class date, which will include alternative training options.
    • Cancellation policy requires written notice be given to Welter Consulting from registrant by email (vicki@welter-consulting.com) 2 full weeks in advance of the class date for a full refund.  If cancellation is necessary within 2 weeks of class date, a credit will be issued to your organization for full amount if minimum attendance was met or 50% of registration fee to use against future trainings by anyone at the organization.
    • Out of town guests should wait to book travel until the class is confirmed (minimum of 4).

MIP Fund Accounting Classroom Training (Kirkland) – Report Writing Fundamentals: $400/person ($320 if on User Support Plan)

Register for this class by clicking on the link below and selecting the date you want to attend at the top of the registration form.  Fundamentals in Report Writing

  • iStock_000017057771XSmallMarch 10, 2014
  • June 16, 2014
  • November 10, 2014

Those attending this class will gain an understanding of:

  • How each of the tabs on the report set-up work
  • Transaction entry fields within the system and how they help us pull the most efficient reports
  • Report naming and archiving
  • Other important tips to make reporting a breeze (common errors, fitting to a page, etc
  • Export module and how to export reports into different formats – including email, excel and pdf
  • Overview of the scheduler module and how it can cut down on your report distribution time
  • Executive View users and how this type of licensing is useful in conjunction with the advanced security module
  • Benefits of using the process manager (favorites) to store and organize reports

MIP Fund Accounting Classroom Training (Kirkland)-HR Management & Employee Web Services:  $500/person ($400 if on User Support Plan)

Register for this class by clicking on the link below and selecting the date you want to attend at the top of the registration form.  HR Management & Employee Web Services

  • February 26, 2014
  • May 29, 2014
  • October 16, 2014

Those attending this class will gain an understanding of:

  • How to use and set-up employees in the HR system and all the utilities to make HR tracking easy including FMLA tracking, certifications/credentials, EEO Reporting and much, much, more.
  • The set-up of Employee Web Services (EWS) module, including all options available to track timekeeping, expense reimbursements and leave requests and/or leave entry to have the information flow directly to payroll and eventually the general ledger, without manual intervention.  We will review the set-up for EWS system settings that is stored on the server.
  • Manager approval and employee submission/approval process for electronic timesheets
  • Other employee options, including access to reports in the EWS module
  • Mass Update feature in HR and options to cut down on manual entry and adjustments
  • Best practices with payroll processing to ensure an accuracy (payroll checklist provided)
  • Queries and reports in the system HR system and a brief overview on how to use the custom report writing utility 

MIP Fund Accounting Classroom Training (Kirkland) – Accounts Payable Expert: $450/person ($360 if on User Support Plan)

Students at the libraryRegister for this class by clicking on the link below and selecting the date you want to attend at the top of the registration form.  Accounts Payable Expert Training

  • March 13, 2014
  • June 19, 2014
  • November 13, 2014

Those attending this class will gain an understanding of:

  • Best practices for processing A/P and other disbursements in the system include prepaid transactions to get audit schedule from system, credit card transactions, sweeps between bank accounts, etc.
  • When to use each of the transaction entry screens
  • How to use and set-up the electronic attachment feature in MIP
  • Set-up and use of memorized documents, recurring documents, entry defaults and other areas within the application that can reduce transaction entry time to process and reduce the potential for errors
  • Use of 1-time vendors and associated audit trails, use of rename/merge feature and best practices for setting up vendors, including 1099 information.
  • A/P sub-ledger reports and other disbursement and reconciliation reports that are most commonly used in the system and their purpose
  • The purpose of using a requisition module/PO module and/or encumbrance module to track commitments whether utilizing MIP or another system and the benefits of utilizing such tools
  • Recording of prepaid transactions to product audit schedule from accounting system

MIP Fund Accounting Classroom Training (Kirkland) – Budgeting: $400/person ($320 if on User

Support Plan)

Register for this class by clicking on the link below and selecting the date you want to attend at the top of the registration form.  Budgeting

  • March 12, 2014
  • June 18, 2014
  • November 12, 2014

Those attending this class will gain an understanding of:

  • Budget Versions and use in reporting to show multiple budgets and/or reporting on revisions and changes in budgets
  • Budget controls that can be set up in MIP to warn you when transactions exceed budget amounts based on time period and combination of budget segments and GL grouping option for these controls.
  • The different options available to get budget data into our system by import, manual entry, budget worksheets, and copy/paste
  • How to enter budget by grant/contract period in order to do cross fiscal year reporting and still be able to report on budgeted data by fiscal year
  • Best practices on reviewing budget data after entered in system and how best to revise posted budget amounts
  • The available budget reports in the system to report on budgeted data and or budget to actual comparison data.  We will set-up samples of the most popular budget reports in the system
Jan 26
0

Fund Accounting Software: A Necessity for Nonprofits

By | MIP Fund Accounting | No Comments

When a Nonprofit is initially formed, it’s usually developed by creative, humanitarian type people who want to make a difference in the lives of those less fortunate. These “right-brained” individuals seldom have any interest in accounting or any desire to push numbers or calculate expenses.

Although this is perfectly understandable, the reality is that a Nonprofit must have responsible oversight of fund management and lucid accounting practices in order to productively function and actually achieve their goal of helping others. It is essential to your organization’s financial security to be in compliance with government stipulated regulations, which require Nonprofits to meet specific criteria in order to operate legally.

These guidelines combined with the fundamental obligation to show solvency and quality fund management practices to your Nonprofit’s Board of Directors virtually demand that your association utilize professional accounting processes. The question is how to accomplish this efficiently and effectively without losing sight of the primary focus of your Nonprofit’s mission to be a charitable resource that benefits the disadvantaged, poor, or other targeted group.

Fund Accounting Software provides one extremely beneficial, technologically savvy method to ensure your organization’s ethical, competent financial management strategies. Commercial software packages used by businesses that are not 501c organizations are dramatically different and fail to provide the precise features specific to the needs of a Nonprofit group.

By leveraging the promising technology of Fund Accounting Software products, your organization can remain competitive and gain access to government and private grants. In addition to helping the public by offering unequivocal services in fulfillment of your group’s mission statement, every Nonprofit is also held accountable to the public. Operating with financial transparency allows your organization to gain the public’s trust that their donations will be used legitimately and appropriately.

Dec 31
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Nonprofit Accounting is Not a Luxury, It’s a Necessity

By | MIP Fund Accounting, Nonprofit | No Comments

iStock_000019130036XSmallIf you’ve ever run a nonprofit, or contributed to one, you know that many of these organizations rely on the contributions of the public. There are countless drives, fundraisers and initiatives created in order to bring more money in to keep the nonprofit afloat, allowing it to continuously provide services to the public. In order to keep tabs of these contributions, Nonprofit Accounting is not only a luxury, it is an absolute necessity.

The nonprofits that are taken seriously are the ones that keep proper books. By taking advantage of sophisticated accounting software, it becomes easier to maintain nonprofit accreditation, give contributors an accurate account of their donation and move forward with initiatives, knowing fully what money you have to work with. You can receive these accounting practices through the use of companies and software that cater to people who run these nonprofits.

Whether you run a community action program or a research organization, provide service to the homeless and the hungry or healthcare clinic, accounting should be at the forefront of your priorities. Leverage technology and sound accounting practices and  you’ll be able to keep track of every dime that comes in and out of your organization, which, in turn, will allow you the opportunity to fulfill your mission and serve your constituents.

In order to maintain the trust to the public, nonprofits must be run with organization and proper bookkeeping, so leaving these tasks to professionals can go a long way in that regard. Anyone interested in these services should take responsibility.

 

Dec 06
0

How Fund Accounting Helps Attract and Retain Major Donors

By | MIP Fund Accounting, Nonprofit | No Comments

iStock_000027056037LargeIn the nonprofit world, success generally is measured by demonstrating impact. But before impact can be measured, funds need to be raised to perform the mission-critical tasks that lead to impact. It is Fund Accounting that can assist your nonprofit in securing those funds. Here’s how.

What major donors want to know

Most major donors have a history of giving to several favorite nonprofits. While they may initially be attracted by the work of a particular organization or have a relationship with someone high up in that organization, savvy donors want to know:

  • If I make an unrestricted contribution, exactly how will that money be used?
  • If I make a gift restricted to one program, how can I be sure that’s how my gift will be appropriated?
  • How much of my gift is going to overhead, and how much to direct services?
  • How well has this nonprofit stewarded its funds in the last two years? Do they run a deficit? If so, why?

Essentially, your major donors – whether they provide individual gifts or grants – are looking for trustworthy stewardship of funds, and also, what Charity Navigator refers to as, “Alignment of Mission, Solicitations, and Resource Allocation.” In other words, “look for signs that the charity dedicates both money and staff time in ways that are consistent with what their stated mission is, and with how they represent themselves when seeking donations.” All full 990 forms, which are publicly available, include a section on the nonprofit’s largest programs and funding for those.

What system is best to prove your stewardship of funds to donors?

First, many savvy major donors have served as Directors, or Trustees, on nonprofit boards. They know that only fund accounting can deliver the line-item detail that tracks every dollar of revenue, earned or donated, and specifically how that dollar was expensed. They can read spreadsheets, audit reports, and 990 forms.

  • Whether that donor is on your Board of Directors or not, assume they understand that level of detail, and that they expect fund accounting to be the source of your reports.
  • Listen to what the donor is looking for. Offer reports, based on fund accounting, at the level of detail the donor requests. One of the many advantages of fund accounting is the flexibility to provide reports at any level of detail.

These assurances of how donated funds were expended – whether in an audit report or a simple spreadsheet – can help your organization retain savvy donors critical to your mission’s success.

Second, the Financial Accounting Standards Board and the Governmental Accounting Standards Board require nonprofits to use fund accounting for financial recordkeeping, regardless of the size or scope of the organization.

Take heart. There is no need to be a CPA to use fund accounting. With today’s technology, you can – with some training – use fund accounting software and do your financial tracking in a way that allows Board members as well as other donors to trust your financial reporting.

To learn more about attracting and retaining donors by generating trusted financial reports, please contact us.