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So much goes into the process of getting a grant. There’s researching opportunities, drafting the letter of intent, moving on to the writing of the full proposal, developing budgets, getting all that work to the potential funder and so much more. You get the drift. It is a TON of work.
…and after you’ve waited those long, agonizing months, you finally found out you are getting the grant! Congratulations, now you have more work ahead of you. Most funders require interim or final reports that not only include some narrative around your activities and outcomes, but they want to see how you spent their money. This is where implementing good bookkeeping practices from the beginning will come in very handy. I’m going to show you how you can manage your budget and track expenses for grants using 3 tools within QBO: Budgets, Class Tracking and Customer Tracking.
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When was the last time you heard a board member say this?
“One of the most exciting things for me to do is to analyze financial reports.” Probably not very often, unless that board member is a bookkeeper or CPA. I’m not saying that everyone needs to LOVE pouring over the fine details of the organization’s finances, but I do believe if you know what to look for and how to read them, you will see how your finances tell an important story and will make you a more effective board member.  Donor management or client relationship management, best known as CRM, is something you need to know about. (I promise to never use an acronym in a post without first saying what it is. I can’t tell you how annoying that is when people assume you know what it stands for!)
CRM is quite the buzzword, err, buzz acronym. Rightfully so. It is this magical concept of practices and strategies used to manage and analyze your donor data throughout the relationship, with the goal of using that data to raise more money, be more effective and execute your mission. To many small nonprofit organizations, it really does seem magical, because it’s hard to harness and implement effectively when you have very little money to spend on administration and fundraising. I’m going to share with you some tips on how to use your accounting platform to start collecting and storing critical donor data until you can budget time and money for a donor CRM platform. |
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