Joyce Materego - Woodall, the Director of Finance and Operations of Global Greengrants Fund (GGF) shares her unique journey from aspiring medical student to becoming a qualified accountant with a passion for technology integration.

Our conversation explores the importance of empathy, decolonization, and creating inclusive spaces in the context of finance and operations roles. It highlights the need for empathy to drive long-term change and the challenges of implementing equity, diversity, and inclusion initiatives.

Joyce discusses the importance of prioritizing people within organizations, believing that when employees thrive, financial success follows and talks about a responsibility she carries all the time - “representing the family”

KEY TAKEAWAYS

• The intersection of social and environmental issues is an important area of focus for creating positive change.
• Empathy is a powerful value that can drive long-term change and should be applied to all individuals, not just specific groups.
• Representation and progression in leadership roles are crucial for creating diverse and inclusive organizations.
• Understanding the complexity and volume of work in finance is important for appreciation and recognition.

BEST MOMENTS

“… numbers are like a language. They can help you tell stories, but they don't function by themselves without words...”

“… and it manifests itself in people asking you to move a mountain in two seconds…”

"... I want to do my job so well that when I leave and somebody else shows up for this role, and they look like me, It triggers good memories, like, oh, this is someone who looks like Joyce, they’re probably bringing good news.”

EPISODE RESOURCES

Find out more about GGF https://www.greengrants.org/

Connect with Joyce https://www.linkedin.com/in/joyce-materego-woodall-b7545520/

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

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

In this conversation, Lewis English, the Founder of Underpin Business and Marketing Consultancy discusses with me, the challenges and misconceptions in non-profit back-office functions and emphasizes the value of outsourcing tasks and focusing on one’s core skills.

He stresses the need for non-profits to adopt business-like strategies and shares impactful consulting experiences aiding non-profits. Lewis also highlights pricing services and self-value in the sector, advocating leading with value over mere funding.

This episode covers a wide range of topics including aligning missions and values, storytelling, balancing financial management with marketing, long-term strategy, mission alignment and about public sector nuances!. Tune in to listen!

KEY TAKEAWAYS

1. Storytelling is crucial in fundraising, and organizations should lead with the value they provide.
2. Balancing financial management and marketing is essential for the survival and growth of a business.
3. Non-profit leaders should prioritize a long-term strategy and ensure everyone in the organization understands and works towards the mission.
4. Public sector organizations face unique challenges and should strive to be more business-like in their approach.

BEST MOMENTS

“…it's about having that mentality of doing today whilst preparing for tomorrow.”

“… communication up is important, but not nearly as important as communication down ….”

“Everybody has a function in delivering the mission.”

“… a lot of business podcasts are, particularly trying to push a type of work very hard, do lots of things, work as hard as you can, hustle, be an entrepreneur. And I don't think that's right for everybody.”.

EPISODE RESOURCES

The Five Step Marketing Plan: https://amzn.eu/d/icRhBj6

Work with Underpin https://underpinconsultants.com/marketing-consultant-book-a-meeting/

Connect with Lewis https://www.linkedin.com/in/lewis-english-2b810130/

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

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

In this episode of The Nonprofit Bookkeeper, your host Aishat, discusses the basics of charts of accounts and key considerations for start-ups and those looking to migrate to new software.

Aishat talks about your aligning your chart of accounts with reporting needs, and the importance of a meaningful and scalable system, and emphasizes the importance of investing time in setting up a well-structured chart of accounts for smoother financial insights in the future.

KEY TAKEAWAYS

1. Understand the significance of a chart of accounts as a categorization tool for income, expenditure, and balance sheet categories.
2. Ensure clarity in your chart of accounts to minimize confusion and facilitate accurate transaction recording.
3. Implement a flexible numbering system to accommodate changes without disrupting the existing setup as the organization grows.
4. Aligning the chart of accounts with reporting needs helps streamline the reporting process and provide meaningful information to stakeholders.

RECOMMENDATION

1. Incorporate separate fields in your chart of accounts to track transactions for specific stakeholders, such as donors.
2. Choose software that can adapt to future tracking needs to avoid disruptions in financial processes.
3. Customise your chart of accounts to align with the specific needs of stakeholders, to help enhance reporting capabilities.

ABOUT YOUR HOST

Aishat Idris, the host of "The Nonprofit Bookkeeper," brings a wealth of experience in non-profit financial management to her audience.

With her podcast, she shares practical insights and expertise to streamline financial management for non-profits, driven by her passion for empowering professionals in the sector. Aishat, the founder of BAnC Services, a bookkeeping and accounting services practice, has dedicated over two decades to serving non-profits.

She is the author of "Money Solutions for Single Mums" which focuses on supporting single mothers with navigating financial management challenges. She also champions financial literacy among young black adults and thrives in discussions about money management.

Work with Aishat: www.bancservices.co.uk

CONNECT

Instagram

TikTok

Join me and my guest, Ingrid Fawcett, co-founder of Midlife 360, as we explore the world of social enterprises and their unique challenges, focusing on empowering women in midlife. Ingrid shares her journey alongside co-founder Sally Field, blending business acumen with a passion for societal impact, ultimately bridging gaps for women re-entering the workforce. Ingrid also sheds light on the differences between social enterprises/Community Interest Companies (C.I.C.) and Charities, discussing registration challenges and financial planning strategies for new ventures like Midlife 360.

KEY TAKEAWAYS

• The founders of Midlife 360 have faced challenges during the registration process, but have learned valuable lessons and gained clarity on their mission.
• Financial management and opening bank accounts can be challenging for social enterprises, but building relationships with banks and seeking support can help navigate these processes.
• Midlife women facing challenges and transitions can benefit from seeking support and recognizing their skills.

BEST MOMENTS

“There was somebody else who was building a web, an app about sharing tools at home between men and women…”

“… personally, that whole element of it terrifies me. So, it’s one of those sorts of things that, it goes back to doing maths at school….”

“You and Sally are probably juggling everything on your own. How do you manage it all, I hand it all over to Sally. Good idea”

“So I'd say to anybody who's starting something, it's starting to invest in that relationship prior to actually opening the bank account”.

EPISODE RESOURCES

Cambridge Judge Bus. School's Social Venture Weekend

Allia Grow you Bus. Social Ent. Programme

Connect with Midlife 360

Connect with Ingrid

ABOUT YOUR HOST

Aishat operates her own practice – BAnC Services which focuses primarily on serving non profits. Before founding her practice, she dedicated over two decades to the non profit sector. Beyond her professional endeavours with non profits, Aishat is deeply committed to supporting single mothers in navigating financial management challenges and is the author of "Money Solutions for Single Mums" (available at https://amzn.eu/d/fvDcdG). Additionally, she is passionate about educating young black adults on financial literacy. In essence, Aishat is particularly enthusiastic when engaging in conversations about money management.

Work with Aishat: www.bancservices.co.uk

CONNECT

LinkedIn

Instagram

TikTok

Kate Brown, a system accountant with over two decades of experience in the charity sector speaks to Aishat about transitioning from management accountant to system accountant, her experience running her own company, and her decision to return to employment.

We also explored the challenges of technology adoption in the charity sector and the importance of balancing stability with innovation. Kate shares her insights on the role of a system accountant in addressing financial challenges and supporting the mission of an organization. We also touch on the qualifications vs. experience debate and the importance of continuous learning. We ended our conversation with a reflection on the impact of the cost-of-living-crisis and; relaxation.

KEY TAKEAWAYS

Transitioning from a management accountant to a system accountant requires a shift in focus from routine financial tasks to supporting finance systems and processes.

The charity sector has experienced significant changes due to external factors such as donor requirements, GDPR, and technological advancements.

System accountants play a critical role in addressing financial challenges and supporting the mission of an organization by ensuring the effective use of finance systems and technologies.

Balancing stability and innovation is crucial when adopting new technologies in the charity sector, and it is important to involve and gain buy-in from users throughout the process.

While qualifications can be important in certain contexts, experience and a willingness to learn and adapt are also valuable assets in the finance sector.

BEST MOMENTS

“Do your due diligence and bring the users with you would probably be my sort of top tip for introducing technological changes”.

“Change for the sake of change is seldom a good idea.

“… general concern that with the cost-of-living crisis, people are going to, look at what they can cut and maybe charity donations is a thing that they can cut without, affecting them personally. So that was certainly a concern”.

EPISODE RESOURCES

Kate Brown: https://www.linkedin.com/in/kate-brown-2435b821/

Social Hang out: https://www.meetup.com/croydon-board-gamers/

ABOUT THE HOST

Aishat operates her own Bookkeeping and Accounting services firm, primarily focusing on serving nonprofits. Before founding her practice, she dedicated over two decades to the nonprofit sector. Beyond her professional endeavors with nonprofits, Aishat is deeply committed to supporting single mothers in navigating financial management challenges and is the author of the book "Money Solutions for Single Mums" (available at https://amzn.eu/d/fvDcdG). Additionally, she is passionate about educating young black adults on financial literacy. In essence, Aishat is particularly enthusiastic when engaging in conversations about money management.

Work with Aishat: www.bancservices.co.uk

Aishat’s LinkedIn: https://www.linkedin.com/in/aishat-idris/

CONNECT

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

Poncelet Ileleji, the CEO of Jokkolabs, an international not-for-profit initiative. is an esteemed advocate for digital inclusion in Africa and has made significant contributions to connecting people to the internet and using tech as a force for good. Together we dive into the intersection of technology, money management, and social change. Poncelet talks about Jokkolab’s mission, the focus on solutions for the future, the challenges of managing IT on a global scale, and the impact of digital transformation on the organization. He also talks about the importance of staying up to date with IT trends, the benefits of prioritizing IT for small charities, cybersecurity considerations for nonprofits, and the role of technology in social impact.

Poncelet goes on to talk about the importance of money management for nonprofits and strategies for managing the cost-of-living crisis.

KEY TAKEAWAYS

• Staying up to date with IT trends is crucial for nonprofits to leverage technology for social impact.

• Prioritizing IT can bring numerous benefits to small charities, including improved efficiency, increased reach, and enhanced impact.

• Nonprofits should prioritize cybersecurity and implement cost-effective measures to protect their data and systems.

• Effective money management is essential for nonprofits, and having an emergency fund is crucial for financial stability.

• The cost-of-living crisis has highlighted the importance of money management for individuals and organizations alike.

BEST MOMENTS

“Jokkolabs is an innovation hub, we are all computer scientists.”

“Nigeria is leading fintech in Africa...”

“…if you look at the 17 sustainable development goals, the most important one to me, is goal 17, partnership for development.”

“… digital, , transformation starts with changing mindsets.”

“… for finances, I will say, look at your mom and , cut your coat according to your size. You know, you don't have to buy a new car if you cannot really afford a new car because your, your buddy has a new car.”

EPISODE RESOURCES

https://sdgs.un.org/goals

Connect with Poncelet (Guest): https://www.linkedin.com/in/poncelet-ileleji-a7316010/

ABOUT YOUR HOST

Aishat operates her own practice – BAnC Services which focuses primarily on serving nonprofits. Before founding her practice, she dedicated over two decades to the nonprofit sector. Beyond her professional endeavors with nonprofits, Aishat is deeply committed to supporting single mothers in navigating financial management challenges and is the author of "Money Solutions for Single Mums" (available at https://amzn.eu/d/fvDcdG). Additionally, she is passionate about educating young black adults on financial literacy. In essence, Aishat is particularly enthusiastic when engaging in conversations about money management.

Work with Aishat: www.bancservices.co.uk

Aishat’s LinkedIn: https://www.linkedin.com/in/aishat-idris/

CONNECT

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

In this episode, Aishat speaks with Helen Armstrong, a Fellow of the Institute of Certified Bookkeepers (the largest bookkeeping institute in the world) - ICB. Helen “The Boss Bookkeeper” runs Priority Business Services, winner of ICB’s 2023 Small Practice of the Year . We discuss the intersection of faith and finance within nonprofit organizations, particularly churches. Helen shares her journey from finding faith at 17 to becoming an expert in managing church finances. She emphasizes the unique challenges and responsibilities that come with serving faith-based communities.

KEY TAKEAWAYS

• Bookkeeping for churches and nonprofits follows the same principles as other organizations, but there are specific terminology and reporting requirements.

• Volunteers managing church finances should be equipped with the necessary financial skills and supported with policies and procedures.

• Confidentiality and trust are vital when handling donor information in churches and nonprofit organizations.

• Understanding the dreams and visions of church leadership is crucial as they impact finances.

• A bookkeeper plays a valuable role in maintaining proper records and providing timely reports, complementing the work of an accountant.

BEST MOMENTS

“Nothing in God’s economy is wasted.”

“It’s about stepping out in faith not stupidity.”

“The church exists for those who are not already its members.”

“… and firmly believe that God provides our needs, , as opposed to God providing our wants.”

“Money is a taboo subject. And you see that in the church, which is quite bizarre, really, because Jesus talked about money an awful lot.”

EPISODE RESOURCES

Resources for navigating financial governance:

https://www.gov.uk/government/organisations/charity-commission

https://www.acat.uk.com/

https://www.honorarytreasurers.org.uk/

Connect with Helen (Guest): https://www.linkedin.com/in/helentarmstrong/

ABOUT YOUR HOST

Aishat operates her own practice – BAnC Services which focuses primarily on serving nonprofits. Before founding her practice, she dedicated over two decades to the nonprofit sector. Beyond her professional endeavors with nonprofits, Aishat is deeply committed to supporting single mothers in navigating financial management challenges and is the author of "Money Solutions for Single Mums" (available at https://amzn.eu/d/fvDcdG). Additionally, she is passionate about educating young black adults on financial literacy. In essence, Aishat is particularly enthusiastic when engaging in conversations about money management.

Work with Aishat: www.bancservices.co.uk

Aishat’s LinkedIn: https://www.linkedin.com/in/aishat-idris/

CONNECT

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

In this episode, your host, Aishat, flips the script by becoming the interviewee.

During the conversation, Aishat shares her extensive journey of more than two decades of employment in the nonprofit sector and details her experiences in finance and operations.

She recounts how a week-long assignment evolved into a decade-long career and progressing from an entry-level finance role to high-level management positions and to working independently in various international NGOs.

Aishat also reflects on navigating new responsibilities and autonomy, implementing controls and; policies and procedures, while also addressing the challenges of effective communication and change management. On a personal note, she briefly touches on mental health challenges within her family.

Aishat goes on to talk about establishing her own Bookkeeping and Accounting Services practice and catering predominantly to nonprofits, highlighting valuable lessons learnt on the journey so far.

Finally, Aishat elaborates on the motivations behind launching her podcast and the objectives she aims to accomplish.

KEY TAKEAWAYS

• Continuous learning opportunities can contribute to long-term employment in the nonprofit sector.
• Internal audits and donor compliance are crucial aspects of financial management in nonprofit organizations, but understanding the country context is important when conducting audits in different locations.
• Effective communication and change management are crucial when implementing new policies and procedures.
• Marketing is key to the success of a business, and it is important to start building a network and putting yourself out there even before launching the business.
• Back office functions in the nonprofit sector are often overlooked but play a crucial role in upholding the mission.

BEST MOMENTS

“if they say, the program starts at nine a.m. nine 30 is gonna be kick off, you have coffee and mingling at from 9a.m. to 9:30. I wouldn't appear at the event until 9:35”

“I thought, yeah, Gambia is West Africa, so it should be… If you need to walk over today, you could walk across. Yeah, that's what I thought. You know how I am how with geography…”

ABOUT YOUR HOST

Aishat operates her own Bookkeeping and Accounting services firm, primarily focusing on serving nonprofits. Before founding her practice, she dedicated over two decades to the nonprofit sector. Beyond her professional endeavors with nonprofits, Aishat is deeply committed to supporting single mothers in navigating financial management challenges. She is also the author of the book "Money Solutions for Single Mums" (available at https://amzn.eu/d/fvDcdG). Additionally, she is passionate about educating young black adults on financial literacy. In essence, Aishat is particularly enthusiastic when engaging in conversations about money management.

SOCIALS

https://www.linkedin.com/in/aishat-idris/

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

Welcome to "The Nonprofit Bookkeeper," where we delve into the inner workings of nonprofits. Join your host, Aishat, as she reveals the often unseen contributions of the heroes who ensure the fulfillment of a nonprofit's mission and offers valuable tips on nonprofit financial management.