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NFP Partners
3570 E. 12th Ave.
Denver, CO 80206
303-367-1058
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Colorado Nonprofit Financial Manager Peer Group
Upcoming Meeting Details



Here are the details for the next meeting of the Colorado Nonprofit Financial Manager Peer Group:

Thursday, Nov. 19, 2010
9:00-11:00 a.m
Colorado Children's Campaign
1580 Lincoln Street,
Suite 430
Lakewood, CO 80203
Topic: Employee Benefits

Please consider what questions you may have for the panel over the next few weeks and submit them to Jessica Taylor no later than November 10th. She can be reached via e-mail at Jessica@coloradokids.org, or via phone at 303-839-1580 X 222.
Webinars
Here is the current webinar schedule with links to course descriptions and to register. All sessions are one hour in length.

Managing Nonprofit Accounting with Sage MIP Fund Accounting



Every Tuesday at 1:00MST

More Details and Register

Accomplishing Accountability for Governmental Entities With Sage MIP Fund Accounting

First Tuesday of Every Month at 11:00MST

More Details and Register


QUICKBOOK WEBINAR SERIES

Getting Started with QuickBooks

Thursday, November 18th at 2:00MST

Getting the Most Out of QuickBooks

Thursday, December 9th at 2:00MST

Details and to Register
Knowing When to Leave QuickBooks

Thursday, December 16th at 2:00MST

Details and to Register


October/November 2010
Tracking Restrictions in QuickBooks
Yes, it is Possible!

It is possible to track fund restrictions in QuickBooks without resorting to Excel workarounds. For Premier Nonprofit Edition users, the "how to" instructions are buried in the help content and are hard to follow without examples. For our outsourcing clients who use
QuickBooks, we provide FASB 117-compliant financial statements (Statements of Financial Position and Activity).

We recently developed a working example in Excel workbook format that outlines the process. We have added this topic and example to our webinar, "
Getting the Most of QuickBooks," that we present every two months.

Effectively utilizing the model requires following some proven best practices in setting up the chart of accounts and classes. The accounts should be numbered and simply describe the "what" of the account within the traditional framework of assets, liabilities, net assets, revenues and expenses. Classes should be numbered and used to classify transactions into programs, fundraising and general administration functional categories. The model uses a special set of class codes at the low-end of the sort sequence to delineate revenue that is permanently or temporarily restricted, or quasi-restricted as reserves and board designations. Download the Restricted Fund Tracking example for your guidance and use.

For more information on tracking restrictions in QuickBooks, please contact me at 303-367-1058.


Lee Bengston,CPA
Hiring an Outsourced Accounting Firm
Understanding the Process
A local nonprofit organization recently sent an e-mail to the Colorado Nonprofit Association's ListServ, asking for sample RFPs (Request for Proposal) for outsourced accounting services.

This caused some reflection and discussion among the consultants in our outsourcing group, since we were in the process of preparing an accounting services proposal for a prospective client. The actual discovery and collection of information to prepare a response is a fairly organized process, depending on our initiative to meet with the prospect to get the necessary information to respond.

I had the inspiration to construct guidelines that prospective nonprofit accounting services clients could use to better understand their own reasons and requirements and then be communicated to potential service providers. We asked ourselves what information do we see as important in responding to the prospect, or what would we like to see if we were to hire ourselves. We have posted this first effort -- as I'm sure it will evolve over time -- in the form of a point outline on our website for downloading.

Read More About Hiring an Outsourced Accounting Firm

Calling Nonprofit Treasurers
Colorado Association of Not-For-Profit Treasurers

By Stu Goodner


The nonprofit organization's dependence on its Board Treasurer for survival is becoming more and more critical. Duties that were once limited to oversight of financial performance or policies and procedures have evolved into leadership of Finance and Audit Committees, developing/maintaining relationships with financial stakeholders, insuring transparency in all reporting areas, translating complex accounting and finance concepts to fellow Board members and validating management's business model will maximize the organization's survivability in rapidly changing economic environments.

Creating the right working relationship with the organization's accounting/finance leadership further complicates this. But where does a Treasurer learn to be a Treasurer? There are no CE courses, and very few consultants focus on Board development in this area. How can we improve the resources available to this critical role and help them lead their organizations?

Read About the Colorado Association of Not-For-Profit Treasurers