Understand the Balance in a Not-For-Profit’s Balance Sheet
A board treasurer came to us with the following story and we thought we’d share to see how familiar it sounds. The nonprofit organization that treasurer worked for had gone through many financial difficulties in the past. The economic climate changed and things turned around for the nonprofit, and now they were actually doing quite [...]
Sage Fund Accounting Software Service for Non-Profit Organizations Now Available
In addition to our remote iFi service that uses QuickBooks accounting software, Foster Results now offers the option to use the popular Sage Fund Accounting software utilized by many non-profit organizations. Sage Fund Accounting is the award-winning nonprofit accounting software that allows you to: Cut hours or days off of your reporting cycle. Create the [...]
Year End Planning for Nonprofits
Once again, another year is almost to an end which means time to plan for your nonprofit’s year-end. With only a few weeks left in the year, don’t put off until later some of the most important things you need to be doing right now. Let’s take a look at some key, year-end necessities. Evaluation [...]
It’s Time for Nonprofits to Move Beyond Excel
If your nonprofit is still using Excel for financial management, you’re not alone. With its ease of use, wide availability, and relatively low cost, many small organizations use Excel for daily recordkeeping. However, at some point, you are more than likely discovering that Excel simply doesn’t have the ability to meet all the needs for [...]
Your Budget Should Reflect Your Performance
Most businesses make it a practice to review their performance at year-end. However, if you wait until then, it could be too late. Financial data should be reviewed at least once per fiscal quarter. You need to know if you are meeting your goals and staying in line with your budget. Expenses like cost-of-sales might [...]
Review Your Income to Avoid Tax Penalties
Now is the time for every small business owner to review their year-to-date financials compared to last year’s. Take special note of your business’s income. Has it gone up or down compared to 2010? It’s critical to know where your business stands from an income standpoint to prevent April 15, 2012 “tax surprises.” April 15 [...]
Foster Results Gets Recommendation from Senior Citizen Journal
We want to thank the Senior Citizen Journal, a blog dedicated to productive aging, for their mention and recommendation of our financial and bookkeeping services for seniors and those who have senior loved ones in need of financial management assistance in their article, “Online Service Offers Daily Help to Seniors”. The Senior Citizen Journal has [...]
Take Precautions with Credit
Letting customers make purchases by credit can often be risky for small businesses. However, it is a must for many small business owners. If you are going to sell on credit, there are some precautions you should take to protect the cash flow of your business. First you should make sure to have the complete [...]
Worry Less about Money with a Cash Flow Plan
By Dan Lacy, President and Founder, Dynasty Business Building One of the biggest stresses in business ownership is having enough money. Enough money to pay employees, pay ourselves, pay vendors and pay for growth. Money is the grease that keeps the business machine running and if we are unable to lubricate our business adequately it [...]
Senior / Personal Finance Articles – November, 2011
As a service for our personal and Elder Care Care clients, we offer these timely and thoughtful articles to help protect your financial future: (links open in new windows) Another Fraud Against Senior Citizens http://www.seniorcitizenjournal.com/senior-finances-articles/another-fraud-against-senior-citizens/ Seniors Stop Believing Financial Myths http://www.seniorcitizenjournal.com/senior-finances-articles/seniors-stop-believing-financial-myths/ Senior Citizen Coupon Shopping Tips http://www.seniorcitizenjournal.com/senior-finances-articles/senior-citizen-coupon-shopping-tips/ Financial Musings for Senior Citizens http://www.seniorcitizenjournal.com/senior-finances-articles/financial-musings-for-senior-citizens/ If you [...]
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