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Financial Management Pitfalls Every Charity Should Avoid with Sam Lewis, Founder and Director at ExpensePlus
Check out ExpensePlus and sign up for a month's free trial and 10% off your first year's subscription, using my referral link http://expenseplus.co.uk/r/AI-BANC
In this insightful guest episode Aishat sits down with Sam, Founder and Director at ExpensePlus, an accounting software created specifically for charities and churches. Sam brings extensive expertise in charity financial management, highlighting common pitfalls and providing practical strategies to avoid them.
They discuss the importance of effective financial management in charities. They explore common pitfalls such as inadequate budgeting, clunky financial processes, and the failure to utilize financial reports.
Sam shares practical tips for improving financial management and introduces ExpensePlus as a solution for charities looking to streamline their financial processes.
KEY TAKEAWAYS
- Budgets should not only exist but also align closely with your charity’s goals and vision.
- Effective budget management requires engaging the entire team and providing them with timely and clear financial reports..
- Paper-based financial systems often lead to inefficiency, higher costs, and greater risks; digital solutions can dramatically improve these processes.
- Simplifying financial reports can enhance engagement and understanding.
- Clear, simple financial reporting that decision-makers can easily access encourages better financial decisions and enhances accountability.
BEST MOMENTS
"… when budgeting is really important to step back and look at whether the charity's expenditure and the proposed budget aligns with the vision and goals,…"
"... helping your budget holders kind of come alongside and, realize what the priorities are will motivate them."
"... every charity should be on software now 'cause it helps to streamline your process and better saves time."
EPISODE RESOURCES
Connect with Sam: https://www.linkedin.com/in/sam-lewis-280710130/
ABOUT YOUR HOST
Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.
With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.
Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.
Work with Aishat: www.bancservices.co.uk
CONNECT
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By Aishat
5
33 ratings
Check out ExpensePlus and sign up for a month's free trial and 10% off your first year's subscription, using my referral link http://expenseplus.co.uk/r/AI-BANC
In this insightful guest episode Aishat sits down with Sam, Founder and Director at ExpensePlus, an accounting software created specifically for charities and churches. Sam brings extensive expertise in charity financial management, highlighting common pitfalls and providing practical strategies to avoid them.
They discuss the importance of effective financial management in charities. They explore common pitfalls such as inadequate budgeting, clunky financial processes, and the failure to utilize financial reports.
Sam shares practical tips for improving financial management and introduces ExpensePlus as a solution for charities looking to streamline their financial processes.
KEY TAKEAWAYS
- Budgets should not only exist but also align closely with your charity’s goals and vision.
- Effective budget management requires engaging the entire team and providing them with timely and clear financial reports..
- Paper-based financial systems often lead to inefficiency, higher costs, and greater risks; digital solutions can dramatically improve these processes.
- Simplifying financial reports can enhance engagement and understanding.
- Clear, simple financial reporting that decision-makers can easily access encourages better financial decisions and enhances accountability.
BEST MOMENTS
"… when budgeting is really important to step back and look at whether the charity's expenditure and the proposed budget aligns with the vision and goals,…"
"... helping your budget holders kind of come alongside and, realize what the priorities are will motivate them."
"... every charity should be on software now 'cause it helps to streamline your process and better saves time."
EPISODE RESOURCES
Connect with Sam: https://www.linkedin.com/in/sam-lewis-280710130/
ABOUT YOUR HOST
Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.
With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.
Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.
Work with Aishat: www.bancservices.co.uk
CONNECT
TikTok