August 21, 2018

Webinar: 5 Strategies for Streamlining Reconciliations in Excel

excel reconciliations

Hey there, accounting brethren. If you’ve emerged from your version of busy season unscathed and would like to squeeze in a little personal development, we recommend this free on demand webinar from our friends at FloQast: “5 Strategies for Streamlining Reconciliations in Excel.”

It’s amazing how much time is wasted within accounting teams due to lack of standardized process, documentation, and reviews. Get your act together, help your team become more efficient, and get home in time for dinner with these five, simple strategies from FloQast co-founder and CEO, Mike Whitmire:

  • Assessing the trial balance for completeness
  • Standardizing templates with documentation
  • Organizing documentation in a logical manner
  • Tying out the trial balance consistently
  • Centralizing reviews
  • And much more!

Who doesn’t need more Excel skills, amirite? The webinar is available any time and is free.

And, while you’re at it, check out these additional resources from FloQast:

Image: iStock/200degrees

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Non-Profits Are Feeling the Pain

WSJ has a Monday piece “Once-Robust Charity Sector Hit With Mergers, Closings” (the Recession Forces Nonprofits to Consolidate) that may be found here. It tells the story of a “homeless” woman with terminal lung cancer and a charity no longer able to afford to help her out. Sad.

When one charity’s COO says “we’ve had funding cut after funding cut, and we never know when the next shoe is going to drop,” that is a bad sign.

Hit by a drop in donations and government funding in the wake of a deep recession, nonprofits—from arts councils to food banks—are undergoing a painful restructuring, including mergers, acquisitions, collaborations, cutbacks and closings.

“Like in the animal kingdom, at some point, the weaker organizations will not be able to survive,” says Diana Aviv, chief executive of Independent Sector, a coalition of 600 nonprofits.

I saw that on the Discovery Channel and it wasn’t pretty.

Note: the Service says the value of your blood is not deductible as a charitable donation but cars are. As of 2005, cars are only deductible at FMV, not Blue Book. Damn you, fair value, foiled by the free market again!

Blame the Service for tightening its charitable donation rules at the worst possible time? Not sure on that one. While you’re reluctant to donate your $200 Toyota (ha) to charity because you could have claimed $2,000 under old rules, find some comfort in the fact that (alleged) terrorist “non profits” can not file for 2 years and somehow get away with it. You wonder why I advocate fixing the system from the ground up?

You can text $10 to Haiti but what about the “Economic Homeless” here in America? asks Young Money.

If this were a survey and you asked me “What do you think the IRS could do to encourage charitable donations?” I would answer “Tax breaks. It isn’t the Treasury’s job to distribute bailouts.” Yet they continue to behave as though it is their duty.

See the problem yet?