A bookkeeper in a small office opens the top drawer on her desk over and over throughout the day. She opens it slowly, peers in at something, closes it, and then returns to her accounting on her computer. She does this multiple times a day. 

She locks the drawer every night before she leaves, and the other office staff gossip quietly every day about what's in the drawer. Chocolate? Can't be. It's not edible. A pet rock? Possibly. She's a little quirky. They speculate endlessly.

One day, the bookkeeper dies suddenly. The business owner gets her desk drawer keys from her family a few days later. The office gathers around as the big secret of the drawer is revealed. What's in it?

A simple piece of paper with the words "Accounting Bible" at the top. On the sheet is a strange coded set of words and symbols labeled "T-Accounts." The office staff stares in wonder, unable to make anything out of it. Then someone puts it back in the drawer and they walk away... Guess she really was an odd duck.

Get your very own Accounting Bible here ;)

Over the years, I’ve worked with several nonprofit schools. One thing they all have in common when we come on scene? The accounting is a nightmare.
 
If you’ve ever worked at a school (or been a parent who’s paid school fees) you understand that capturing the ins and outs of daily, weekly, monthly, or annual tuition can be confusing. Throw in scholarships, holidays, and seasonal breaks and you get accounting mayhem.
 
Last year, one of our clients with an adult day program rolled out a redesign of their tuition and fee structure. They moved from a pay-as-you go model to standardized fee rates, regular invoicing for families, and they also added a subsidy (i.e. scholarship) program to assist families who could not afford the full fare of the program.
 
Unfortunately, we were brought into the loop a little too late – and after the new process and payment structure was rolled out to the community. The result was one huge, hot mess for everyone involved – the staff, the Blue Fox team, and the participant families as well.
 
We’ll spare you the details, but as this past academic year wrapped up, the staff and Blue Fox were determined to work together to unpack the issues with the inaugural process and streamline the workflow. In the words of ME Parker, the Keeper of Books from the Blue Fox team assigned to this client, “The overall goal was to make this process not only much more simplified, but to make it a shared process… so everyone is working on the same page.”
 
It was paramount to Blue Fox that we have a collaborative and inclusive redesign of the workflow. Here’s how the process unfolded… it’s a roadmap anyone can use to work through a challenging workflow scenario.
  
Step 1. Gather data and analyze the challenges with the current process. 
As soon as we realized that year 1 was a giant beast of a learning curve, we began to gather data on what was working and not working (for everyone involved). We made notes throughout the year on the issues we were having on the accounting side, and issues the staff were dealing with as they communicated with parents and managed their own recordkeeping related to the program.
 
Every time there was “an exception” made on the billing side, we kept a record of that in particular. Participants of the program have a level of intimacy with staff that, while a wonderful endorsement of the organization, created its own set of challenges as the staff tried to (understandably) bend to accommodate different needs and requests throughout the year.  A beautiful intention that was followed by a brutal accounting process.
 
We also developed a spreadsheet to track gross fees and true subsidy amounts per participant, since this information was often incorrectly computed on site and incorrectly accounted for in the accounting software. At year end, we analyzed this information to ascertain the root causes of miscalculations and headaches, and we identified accounting and program policies and procedures that could be implemented to eliminate or avoid those accounting land mines.
  
Step 2. Determine recommendations and sketch out revamped process.  
As this client’s virtual CFO, we were asked to take the lead and design the new workflow and identify the best technology to use in that workflow. We identified the core issues in play and made suggestions on how to prevent those issues going forward. We suggested things like: 

• Standardize pay rates AND subsidy levels – a set system of tiered fees
• A change in invoicing frequency to support regular, recurring transactions
• Additional policies and procedures regarding those “exceptions” that came into play – credits for absences, for example
• We actually drafted several of these policies since this was new territory for the client
• Use online forms to automate the workflow around participant interest and registration
• Make changes to the accounts in use in QuickBooks (more on that in Step 4 below)

  
Step 3. Collect feedback from staff and TEST the new process. 
After we settled on our recommendations, we presented them to the staff and asked for feedback. We had some very deep, meaningful conversations with the client to ensure that our ideas were aligned with their needs. The critiques we received allowed us to further tweak and refine the workflow.
 
Once our framework was set and agreed upon by all parties, we ran some tests of the new process. These tests revealed a few shortcomings in the revamped approach and gave us time to adjust and adapt the process prior to rollout.
 
I *cannot* overstate how important the testing component was – the Blue Fox team ran tests on our proposed systems based on the most complicated variables and scenarios that we had encountered in year 1. When we stumbled, we analyzed and clarified why and then refined the workflow (and/or our tools in use) further.
 
This is the kind of behind-the-scenes value add that we live to provide, and that really makes a difference to our clients.
  
Step 4. Implement technology solutions to streamline the workflow. 
Most of our process improvements revolved around technology that would: 

1. Take the guesswork out of the workflow for the staff
2. Eliminate (or at least significantly limit) staff improvisation or deviation from the process
3. Create a paperless, but seamless, record for all involved – the family, the staff, and us
4. Automate the workflow as much as possible

 
This laser focus on really leveraging the technology at our disposal was key. We all have tech in use at work – but does it really WORK for us? We were determined that should be the case.
 
So, we did things like: 

• Drafted two online forms for the client to use and distribute (on their own website) detailing the new payment structure, rates, etc. When this form is completed, we get copies of the form emailed to us automatically.
• Created a spreadsheet for our own Blue Fox use to track gross fees, subsidies, and yes, the few exceptions here and there.
• Created two online forms that integrate with our internal project management software (Hive). These forms are used by staff when registration is complete and the forms immediately trigger new tasks for us. This allows us to stay on top of new registrations, invoicing, and troubleshooting in real-time rather than scramble to catch up with staff ad hoc.
• Refined the Chart of Accounts in QuickBooks and restricted the staff use to certain income lines only so we could run quick reports and spot anomalies/errors efficiently.
• Set up recurring invoices, sales receipts, and journal entries in QuickBooks to ensure real-time, accurate reporting on tuition and subsidies – a huge help to the client for grant writing, too!

  
Step 5. Communicate the changes with staff and stakeholders to ensure unity in approach.  
The final and, arguably, most important step was to communicate with and educate staff on the new workflow. The executive director took the lead here as you might expect, and we were on hand to answer questions after the staff had a chance to digest the new workflow.
 
Did a few additional changes/needs arise after those conversations? You betcha. Were they as onerous or numerous as the prior year? Not by a longshot – at most, we have 5-10% of the curve balls we had last year.
 
And while the staff was busy taking these changes to their participants and other stakeholders, we were busy developing staff training materials to ensure accounting data entry accuracy throughout the year. These how-to docs sit on staff desks and guide them through every step of the payment receipt process.
  
You can’t argue with the results. 
This consultation was a huge investment of Blue Fox time – candidly, we billed less than half the time we spent on this project. But for us, it was 100% worth it – this was a short-term project with long-term impact across the organization. And critically, efficiency has soared. It’s hard to estimate the amount of time saved this year versus last year, but we think our processing time is down by half or more.
 
The staff is no longer using paper forms to collect registrations, nor are they using disparate spreadsheets to track data and payments. Winning!!
 
We spotted the challenges, used our 20/20 hindsight to analyze them in granular detail, and then applied our macro-view foresight to innovate our way to success. Through sheer willpower and a won’t-quit-until-it’s-right mentality, we have iterated our pants off until, as ME says, “we assured consistency across the organization in complex scenarios… we brought fusion to a very disjointed process.”
 
Does your accountant do that? If not – you might want to email or  call us at (321) 233-3311 to find out how we can help solve your back-office workflow problems. Go ahead. We have lots of free time now. ;) 

Melbourne, FL (August 14, 2019) – Virtual accounting firm Blue Fox has partnered with donor management software provider Bloomerang to provide educational content to nonprofit organizations in the area of financial management. Alike in their missions, these companies provide back office services to nonprofits and charities; Blue Fox offers bookkeeping, payroll, and tax preparation, and Bloomerang’s platform focuses on fundraising support and donor management.
 
The first publication, How to Wow at Your Next Board Meeting: 4 Tips for Meaningful Money Conversations, written by Blue Fox CEO Chantal Sheehan, is now available at www.bloomerang.co. It can also be accessed through Blue Fox’s blog at www.yourbluefox.com.
 
Blue Fox CEO, Chantal Sheehan said, “The majority of resources available to nonprofit leaders are dedicated to marketing and fundraising. And while those are important, it’s also vital for nonprofit executives to build financially sustainable organizations. There are not enough professional resources out there dedicated to nonprofit fiscal management. Blue Fox aims to change that as we share our expertise. We thank our partners at Bloomerang for giving us another platform.”
 
In addition to their guest editorial for Bloomerang, the Blue Fox team regularly publishes on their blog at www.yourbluefox.com/nonprofit-social-enterprise-financial-blog. Article topics range from the importance of kindness in leadership to QuickBooks tips specific to nonprofits to how to get a clean audit.
 
For more information about Blue Fox call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com.
 
###
 
ABOUT BLUE FOX: Blue Fox provides customized financial and back office services for social impact organizations (nonprofits and social enterprises). Services range from standard bookkeeping and payroll services, to coaching and consulting, to full-blown virtual CFO services. The Blue Fox mission is to disrupt the traditional accounting model through technology, innovation, and a radically client-focused approach that truly empowers nonprofits and social enterprises. For more information call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com.

Hold tight. What I’m about to tell you might make you cringe. If it doesn’t, we need to talk!
 
One of the last nonprofits I consulted for used an Excel database to record checks received. A part-time recent college graduate was in charge of retrieving the checks and compiling the bank deposit. 
 
Were there errors? Sometimes.
Did this staffer have questions? Often.
Did they have questions they never asked? Probably.
Was this process efficient? No!
 
Queue my broken record: There has to be a better way!
 
I’ve worked in the social impact sector most of my life. I think nonprofit professional do-gooders are highly innovative, intelligent and creative. Truth: we are scrappy geniuses. Put that on your resume!
 
So, why are some nonprofits still operating in the paper trail dark ages? Excuses of the past are no longer valid. Today’s back office technology is widely available, user-friendly, cost-effective and downright awesome! Fox-tastic, as we say at Blue Fox.
 
[Don’t Let FinTech Scare You – Our Top 4 Back Office Tech Tools]
 
Don’t feel bad if your back office is behind the times. You’re not alone. This Yale Insights article highlights a shocking fact, “According to NetChange’s long-running survey of technology use by nonprofits, only 11% view their organizations’ approaches to digital as highly effective.”
 
Imagine what your nonprofit could accomplish if your back office was humming away in a highly efficient manner?! Theoretically, you could do more than 89% of other nonprofits. Not that it’s a competition. ;)
 
Well, I take that back. I’m a competitive person, and let’s face it: all nonprofits are competing for market visibility and funding. These two functions directly affect your nonprofit’s ability to make a positive impact in your community.  
 
Moral of the story: free up back office inefficiencies and go after what really matters.
 
So, how much time does technology and automation actually save you?
 
Giveeffect, a nonprofit software provider found that automation can save an organization over 30 hours per month. That’s huge! I say, take those 30 hours and throw them at mission related work. 
 
Do I have you thinking yet?
 
It’s almost 2020. People thought cars would fly by now. Even more, people thought they would fly by now. (I was promised a jetpack!)
 
Technology advances are slow in some industries, but your nonprofit’s back office can and should be fully automated with today's proven tools. No excuses. Our team at Blue Fox uses the best-of-breed technology and we train our clients how to be FinTech rock stars.
 
We understand, change is hard. That’s why we encourage you to invite a professional nonprofit-focused accounting firm to help along the journey. Wink, wink – that’s us!
 
Make a virtual appointment with our CEO today. It’s time to get up to speed with the latest technology. Consultations are complimentary and often enlightening. Call (321) 233-3311 or email hello@yourbluefox.com.
 
Blue Fox will get you sorted!
 
Author: Chelsea Clementi, MBA, Director of Marketing & Business Development, Blue Fox
 
Resources:

• Can Technology Transform the Nonprofit Sector?
• Smart Automation Can Save Your Nonprofit 30 Extra Hours Per Month

Our team just came across a must-share article! Nonprofit leaders and friends - we urge you to read: Choosing a nonprofit accounting tool: top six questions to ask, published by NTEN and written by  Pia Simeoni. It’s comprehensive and robust!
 
This article is for nonprofit organizations that may not have the latest and greatest financial technology. If it’s time to make a change, where do you start?  
 
Read the full article for answers to these six questions:

1. Why does my organization need accounting software?
2. How flexible is my software budget?
3. Will the software help me track my campaigns?
4. What else should my accounting software help my nonprofit do?
5. What if my nonprofit gets audited?
6. Will we need to switch software again in a couple of years?

 
Our team at Blue Fox is always available to help you upgrade your systems. We bring you up to speed with software and processes that produce accurate and actionable financial data. And, that’s the kind of data that leads to insightful strategic decision making. Yes, we’re offering to make your life easier.
 
Let’s make your systems talk! Call us at (321) 233-3311, email hello@yourbluefox.com, or simply schedule your free consultation!

[Data and statistics courtesy of QuickBooks Prospective Client Infographic]
 
Did you know that most small businesses owners spend 10 hours per week balancing their books? That equates to about 25% of a 40-hour work week spent on non-revenue generating or mission-related tasks. We know social impact executives often work longer hours than most but still - 10 hours is probably 9 hours too many don’t you think?
 
But are you ready to outsource your accounting function?
How do you know when the time is right?
Ask yourself these questions:  

• Do I have the time to learn and/or manage the bookkeeping system?
• Am I able to stay up-to-date on new tax laws in order to avoid legal troubles?
• Is my time best spent managing the accounting system?
• How much does my bookkeeper’s time (or my time) cost compared to accounting firm fees?
• Does staff turnover affect our back-office efficiency?
• Is the board of directors asking me to provide financial data beyond my ability? And a corollary: do I spend at least half a day before each meeting prepping financial reports?
• Wouldn’t it be nice to wow the board with some snazzy reports like financial dashboards?

 
Most nonprofit leaders were not born to be CFOs. Many social impact executives come from a marketing or fundraising background. The choice to hire an accounting firm can give marketing-minded executives piece of mind. It’s like bringing on the perfect business partner with complementary expertise. A ‘balanced’ partnership (accounting pun intended). ;)
 
So, what exactly can an outsourced accounting firm do for your organization?

• Analyze the financial big picture and offer strategic advice.
• Produce key financial documents and can help with annual tax filings
• Can act as a chief financial officer beyond tax season, to advise on financial strategies
• Perform day-to-day hands-on tasks like handling new hire paperwork and payroll, paying bills, submitting invoices, etc.
• Track company expenses accurately and maintain a healthy audit trail

 
Our team at Blue Fox offers all of those services and more! Blue Fox is an accounting firm specifically for nonprofits and social enterprises. Our team members have broad expertise in the social impact space, with backgrounds as nonprofit leaders, board members and volunteers. The entrepreneurial spirit runs deep on our team. This means we manage your back-office from the same perspective as you would.
 
If you think it may be time to hire an accounting firm, let’s have a chat and see how Blue Fox can help you reach your goals. Call us anytime at (321) 233-3311 or email hello@yourbluefox.com.

If you’re like us, your daily inbox is jam-packed with newsletters and educational opportunities from like-minded social impact leaders. These spectacular humans work around the clock to foster positive change in their communities. Then, somehow, find time to share their story with fellow nonprofit enthusiasts. We tip our hat to them!
 
Here are just a handful of our favorite nonprofit resources this month: 

• Ethical Leadership Webinar: https://bit.ly/2UDxRTX
• Work with Your Board Workbook: https://bit.ly/2Gb114C
• 11 GIFs for Nonprofit Fundraisers: https://bit.ly/2I9QzN5
• Nonprofit Reporting Requirements for Donations: https://bit.ly/2D9ingp
• Guide to Nonprofit Storytelling: https://bit.ly/2IrQp3M
• Public Radio and TV Stations Pick Their Nonprofit Partners: https://bit.ly/2UEgrXU
• A Nonprofit Quarterly Advancing Practice Series: https://bit.ly/2USe8k3

 
Thanks for stopping by to read our picks for top nonprofit news this month! If you’re interested in hearing more from us, subscribe to our newsletter today!
 
About Blue Fox: Our team provides customized, boutique financial and back office services for social impact organizations. Services range from standard bookkeeping and payroll services, to coaching and consulting, to comprehensive virtual CFO services. Our mission is to disrupt the traditional accounting model through technology, innovation, and a radically client-focused approach that truly empowers nonprofits and social enterprises. For more information call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com. 

A special note and key learning points from our long-time client, Karen Govern, Executive Director at STARability Foundation: 
________________________________________________________________
 
Thank you so much for the wonderful opportunity to attend the NTEN conference! The learning opportunities were outstanding and each session was useful, interesting and practical. I hope you enjoy just a few of my notes and key learning points below:

• Project Management: Building a solid project management culture works to increase transparency, improve data collection and foster smarter decision-making. NTEN provided access to practical tools for integrating project management practices and I look forward to implementing these tools at STARability!  A great example is the use of Project Charter Templates, an incredibly useful tool that can be adapted for almost any project or initiative.
• Employee Engagement: Leadership effectiveness can be improved with better employee engagement, improving manager/staff communication, and setting SMART goals for employee development.
• Stay Interviews: This was one of my favorite learning moments! Conducting ‘Stay Interviews’ with employees keeps them committed and motivated for the organization. It’s as simple as having a conversation about what motivates them, what they enjoy about working at the organization, and opportunities for improvement.
• Dashboards: Utilizing dashboards can provide real-time information that can help us respond to needs in a timely manner, whether its financial or programmatic.  Operational dashboards can be used to demonstrate program efficiencies, measure fundraising progress or even track personnel expenses.  Dashboards should spark ideas and generate questions; not just answer questions.  They show you what’s happening right now, but also where you should be going and what resources you need to get there.

 
I really cannot say enough about my experience at the NTEN conference. The presenters provided access to valuable resources and tools. Although it was a large conference, there was a lot of small “caring” details, such as the helpful attendee packets and wonderful meals and receptions.  The app and website were also very helpful for daily planning.  And, I truly enjoyed interacting with like-minded leaders to share information, tips, and experiences.  I even connected with someone from an organization in Australia that serves individuals with disabilities.  We compared our countries’ service delivery systems and discovered we faced similar issues and challenges.

_________________________________________________________________________________________________________
 
The STARability Foundation’s mission is to, “transform the lives of individuals with disabilities through social, vocational and educational connections to the community, while strengthening awareness and respect for individual abilities.” There is no better person to lead these efforts than our long-time client and friend, Karen Govern. She is a truly kind and caring human who leads with thoughtfulness, strategy and focus. We cannot wait to see her continued success and achievements at STARability!
 
We think of our client relationships as true partnerships. Trust, kindness, patience, and respect are forefront of our service delivery and client communications. That’s why our clients, more often than not, also become our friends. Read more about what makes us tick and our five pillars of service.

Does your information presented at board meetings go in one ear and out the other? According to recent reports, the human attention span is now shorter than a goldfish, down from 12 seconds to a measly 8 seconds. What the Fox?!
 
It’s now trickier than ever to capture the attention of your stakeholders. And without their attention how to you establish buy-in and encourage action?
 
There has to be a better way!
 
Enter financial dashboard style reporting. Charts. Graphs. Visuals. Infographics. With a little illustrative razzle dazzle, your board members are paying attention. Better yet, they can quickly see your overall financial position. Gone are the days of reviewing tedious financial statements and boards of directors are thrilled!
 
Ruth McCambridge, Editor in Chief of the Nonprofit Quarterly explains it best, “A well designed dashboard shows whether a nonprofit is making headway on its critical variables… it organizes and focuses conversations.”
 
So, what do you include on your dashboard? Well, ask yourself what drives the success of your organization? Do you have defined strategic objectives that are measurable? You might measure quantity of memberships or donations, clients served to date, cash on hand, program income budget vs actual, annual revenue by source, restricted vs unrestricted funds, and so on. The possibilities are endless – the question is: what key information matters most to you and your management team?
 
Our team at Blue Fox builds dashboards for clients upon request. Some are more extensive and others are one-page snapshots. Customization is key and no two organizations have exactly the same needs. The common factor is that our clients present interesting, concise, actionable data to their stakeholders to make their board and management meetings truly useful moments.
 
About: Our team at Blue Fox provides customized, boutique financial and back office services for social impact organizations. Services range from standard bookkeeping and payroll services, to coaching and consulting, to full-blown virtual CFO services. Our mission is to disrupt the traditional accounting model through technology, innovation, and a radically client-focused approach that truly empowers nonprofits and social enterprises. For more information call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com.
 
 
Resources:

• Nonprofit Quarterly & FMA, How to Build a Dashboard for your Nonprofit: A Critical Strategic Tool Reveals Itself
• Time, You Now Have a Shorter Attention Span Than a Goldfish, Kevin McSpadden

Ready to have your mind blown? Go ahead and Google “The Future of FinTech”. Half of what you read might sound made up. And, no, the interwebs are not speaking Dothraki. Terminology like Blockchain, Ethereum, Insuretech, and robo-advisor are all real. Any Scrabble junkies want to pull out the dictionary and challenge us? Go ahead. Just know that new technology may take over before Merriman Webster can crank out a new print edition.
 
Constant change in the financial technology space can overwhelm small businesses, especially those in the nonprofit and social impact space. But rest assured that Blue Fox is hip to the newest developments. We stay up to speed on innovations in the FinTech space so that we can provide you with the most useful and reliable technology tools out there.
 
Our favorite back office technology solutions? 

• Intuit QuickBooks Online – With over 5.6 million global users, QuickBooks Online breeds efficiency, accuracy, collaboration, organization, automation and oversight over all aspects of your organizations financial picture. Bank-level encryption, payroll processing, and the ability to integrate CRMs and project management apps make QuickBooks Online the leader in small business accounting software. 
• Bill.com – Automates and simplifies the way you pay bills, send invoices, and get paid. Electronic vendor payments and a perpetual audit trail are our favorite features of this revolutionary platform.
• Citrix ShareFile – 100% secure file storage with 24/7 file accessibility. Dropbox, Box, and Google Drive are good solutions, but Citrix security, encryption, and granular user privileges are unrivaled in the cloud storage space.
• Expensify - The world's leading application for expense management, receipt scanning, and business travel. Track your mileage, file an expense report, and use it for easy credit card reconciliations.

 
The core of our Blue Fox philosophy is the marriage of technology and humanity – that’s why our tagline is Agile Accounting for Impact. We believe that the right mix of automation and human-touch makes all the difference. If your organization feels the same, we want to work with you! Don’t hesitate to call us at (321) 233-3311 or book a free consultation with us today! 
​
About: Our team at Blue Fox provides customized, boutique financial and back office services for social impact organizations. Services range from standard bookkeeping and payroll services, to coaching and consulting, to full-blown virtual CFO services. Our mission is to disrupt the traditional accounting model through technology, innovation, and a radically client-focused approach that truly empowers nonprofits and social enterprises. For more information call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com.