Accounting Solutions for Today’s Transactions—a streamlined approach
Traditional accounting systems were designed to control and report paper transactions. Improvements in technology over the years created many options for more efficient transaction processes, accounting and reporting. Today’s transactions are often conducted online, and may completely bypass the organization’s general ledger software and control procedures. Sticking with outdated processes can leave nonprofit execs swamped with paperwork and behind on the books.
In this session, participants will explore the variety of transaction processes used today and explore ways to streamline today’s financial processes. The discussion will include online banking, ACH payments, online payroll, billing, accounts payable, credit card transactions, related controls and options for connectivity to accounting software for accessible financial reporting.
Area of study: Accounting.