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While most nonprofit organizations recognize the importance of hiring professionals with expertise in their area for program and development staff, this is not always the case for accounting functions. When nonprofits are small with limited staff, it’s not uncommon for these roles to be simply part of someone else’s job.
With software like QuickBooks, it is possible to know little about accounting to get the basics done. As organizations grow, needed attention to professionalize accounting is often not paid. Organizations with strong accounting departments see invoices paid on a more timely basis, receivables collected quicker, and cleaner audit opinions. These organizations also see stronger internal controls to reduce error and deter fraud. Click here to read the full article. Comments are closed.
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