As long as your accounting package provides tools to align with FASB 117 and GAAP guidelines, then you might find the following tips helpful in using your current software.

  • Do not readily accept someone’s view that the software cannot perform a needed function. Verify by checking with the supplier’s support and/or training department.
  • Invest in annual refresh training often available in webinars, online videos, remote courses, or special onsite consulting.
  • Interact with user groups and online discussion communities.
  • Verify that controls are in place to enforce segregation of duties.
  • Review your chart of accounts at least every 3 years to keep reporting in step with ministry needs/focus.
  • After an audit, make changes in account structure per auditor’s notes. Having a set of books that are easy to audit can cut audit expenses.

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