In this episode, James Kennedy sits down with Wendy Laxton, founder of Laxton CFO Services, to unpack the “modern” version of fund accounting - how nonprofits manage restricted vs. unrestricted funds, align grant requirements with real-world operations, and avoid credibility-killing misallocations. Wendy shares how the 2008 recession unexpectedly led her into fractional CFO work, why niching down to nonprofits was a defining move, and what she’s learned from guiding organizations through system complexity - from overbuilt ERPs to intentionally “resetting” in QuickBooks and rebuilding structure over time.