Financial Technologies & Management- E-Newsletter for February

Upcoming Live Webinars

Dear {CONTACT.SALUTATION} 

We hope you find our monthly E-Newsletter useful for your nonprofit organization. We are pleased to provide you with access to our newsletter articles, tips and tricks and live webinars!!  We have added our weekly tips and tricks to our social media platforms including
Facebook and Linked In in so follow up there as well

These live webinars will help Nonprofit Leaders, Treasurers, Finance Directors, Finance Staff, Executive Directors and other Nonprofit Staff.

Our upcoming live webinars for financial management training are broken into the following areas: Nonprofit Financial Forum and MIP Fund Accounting.

We are pleased to announce our 2026 Nonprofit Financial Forum and MIP User Group with the Forum during the first hour and the MIP user group for the last 30 minutes. 

Here is the monthly schedule for 2026:  Please click on link for more information and to register.

Jan 21, 2026    1099 Tax Preparation

Feb 25, 2026    Tips for Smooth Audit and Common Audit Pitfalls

Mar 25, 2026    Building a Better Budget

Apr 29, 2026    Presenting Financial Reports

May 27, 2026   Effective Grants Management and Cost Allocation

Jun 24, 2026    Effective Nonprofit Financial Governance and Leadership

Aug 26, 2026   Tips for Smooth Audit and Common Audit Pitfalls

Sep 30, 2026   Building a Better Budget

Oct 28, 2026    Presenting Financial Reports

Nov 18, 2026   Effective Grants Management and Cost Allocation

Dec 15, 2026   Effective Nonprofit Financial Governance and Leadership

Please contact us via phone, email, or directly book a consultation on my calendar for all current and prospective clients.   Also, you can use the contact us page to subscribe to our newsletter for you, your staff, or your colleagues.  We are pleased to offer client care plan for our QuickBooks Online, MIP Fund Accounting, and Microix Clients.

Please click here for the current and previous monthly newsletters back to 2020.

Best Regards,

James Simpson, CPA

Common Audit Pitfalls and Misperceptions

One reason a nonprofit might conduct an audit is to demonstrate the organization’s commitment to financial transparency and accountability.  Also, you many have specific grantor that requires an audit or maybe you have any audit if you suspect fraud or illegal acts.  And while a nonprofit can spend considerable resources for its annual audit, it is important that it consider the following to ensure the audit is a success.

• No delays
• Minimal accrual and year end adjustments
• Minor board and management comments
• No material weakness or significant deficiency
• Nonprofit should prepare audited financial statements and related disclosures
• Fraud detection is not purpose of audit
• Auditor does not guarantee financial statement accuracy

If your nonprofit has any of these pitfall or misperceptions, you should take action to bring expertise like our audit preparation services to remedy and correct these audit issues  Resources for audit readiness and preparation resources include:

Year End Audit Preparation Checklist

Is your nonprofit subject to a federal funds audit?

7 steps to a successful audit

Please click the find out more button for the full article

Your Nonprofit should have multiple revenue streams

Multiple types of revenue streams help create a financially health nonprofit and it expands your network and influence. 

Also, it can help with cash flow as the various sources will have different payment terms and conditions that can vary significantly.  It is challenging to pursue new revenue streams as it does take additional organizational resources. 

The most common revenue streams include:

1. Individuals
2. Corporations
3. Donor Advised Funds
4. Foundations
5. Bequests
6. Endowments
7. Government
8. Special Events
9. Rental Income
10. Sales Income
11. Investment Income
12. Earned Income
13. In-Kind Contributions

It is important to engage your board and staff in developing a strategic approach to enhance the long term sustainability of your organization in these uncertain times.  Please click the find out more button below for the full article

Nonprofit Financial Forums for 2026

The Nonprofit Financial Forum is designed to provide financial leadership and financial management training to the nonprofit communities that we serve.  This series is designed for our nonprofit organizations and our clients who want to improve their financial knowledge and implement best practices.

The Nonprofit Financial Forum purpose is as follows:

• Cover relevant topics to nonprofit organizations
• Include topics for accounting and financial management
• Include technology topics with focus on accounting software
• Include best practices
• network with your peers

The monthly topics for 2026 include:  Click on link for more information and to register for FREE Nonprofit Financial Forum.

• Audit Preparation-Feb 25 & August 26
• Budget Development-March 25 & September 30
• Presenting Financial Reports-April 29 & October 28
• Grants Management & Cost Allocation-May 27& Nov 18
• Financial Governance & Leadership-June 24 & Dec 15
• 1099 Tax Preparation-January 21

Please click the find out more button for the full article

Our Staff-Your Team

Our firm has grown because of strong client relationships with referrals from our clients and other referral partners.  Our staff is very experienced at performing the accounting function for our clients.   Our nonprofit accounting services includes bookkeeping, accounting, controller, and CFO services.  Our nonprofit software accounting software expertise be composed of QuickBooks Online, MIP Fund Accounting, Microix, and Sage Intacct.  Our nonprofit software services comprise software assessments, sales, data conversions, implementations, training, support, and project management services.  Our financial management training consists of newsletter, nonprofit financial forum, & MIP user group.

Our approach is to work with you to determine how your organization can best benefit from our professional services.  We realize that organizations don't have the resources to have a full accounting staff, so we focus on filling the accounting staffing gaps. We deliver quality accounting, bookkeeping, advisory, and tax services to ensure you have everything you need to make a significant impact for your cause.  Our firm provides the most experienced staff at affordable rates.  Please click on the find out more for the full article & staff links

Addtional FTM resources to help your organization:

Is now time for financial assessment?

FTM offers client care plan for QBO and MIP users?

Why you should consider an Outsourced Controller or CFO?

Does my Nonprofit Need a Controller?

Eight Reasons to Outsource Your Nonprofit Accounting

When to Consider a Move to Fund Accounting?

Please click here to find our more about our firm and services

Our firm provides all the levels of accounting your nonprofit needs including bookkeeping, accounting, controller, CFO, and software advisory services for nonprofit accounting software including MIP, Microix, QuickBooks, Sage Intacct and AccuFund

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