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How Nonprofits Can Benefit From Purpose-Built Financial Technology

AvidXchange

More often than not, nonprofits are short-staffed while working long hours under a tight budget with a lack of resources. With technology designed for nonprofits, all accounts can be reconciled on short notice if a donor requests a report. Nearly every aspect of nonprofits is touched by the finance department. 0 of the 1.6

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Credit Card Reconciliation: What It is and How to Do It?

Nanonets

Billion in 2020 only for North American regions. It's important to reconcile your credit card statements because it helps you make sure that: When it arrives, you have enough money in your checking account to pay the amount due on your statement. This is important for budgeting purposes and for avoiding credit card fraud.

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5 Ways to Use Travel and Expense Data Strategically

NextProcess

You’ll also have a much easier time reconciling spend with statements at the end of each month since you’ll have access to all the related data. 4) Leverage Data for Budgeting The more accurate the data you can access about past T&E reports, the more accurate forecasts your company can make.

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3 Biggest Myths about Accounts Payable Software and Services

AvidXchange

Companies need to pay employees, for example, to produce, upload and reconcile ACH payment files. If that happens, your cashflows could be suddenly and unexpectedly lowered, payments could be delayed and you may exceed the costs you budgeted to make payments. Avoid all that. Sounds simple. And it usually is. Don’t buy into that.

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What are GL Codes and how to assign them effectively?

Nanonets

Improve Budget Management : With GL Codes, businesses can compare actual spending against budgets at a granular level. For instance, assigning a GL code to marketing expenses allows a business to track its marketing budget performance closely.

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Accounting Practice Management Software: The Top 17 Roundup

Future Firm

Here are the reasons why accounting practice management software is essential in every firm: This type of software allows accountants to easily communicate with clients about services including forecasting, tax advice, and budget preparation. To me, this doesn’t feel like what software should feel like in 2020.

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Tax Day is July 15. Still

Cloud Accounting Podcast

In response to the impact that COVID-19 has had on your firm and your clients' businesses, the team at BQE has let us know that Cloud Accounting Podcast listeners will now receive three months of BQE Core for free with an annual subscription package purchased on or before September 30, 2020. There's another story this week.

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