THE POWER OF A DETAILED CHART OF ACCOUNTS

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By Erik Luoma, CPA

It is important to properly set up a chart of accounts. A great resource for any association looking to beef up their chart of accounts is the ASAE Standard Chart of Accounts for Associations (www.asae.org). I highly recommend everyone download and read the entire document as it is only a few pages long and will discuss many of these concepts in much greater detail. Continue reading “THE POWER OF A DETAILED CHART OF ACCOUNTS”

Budgets – It’s all About the Benjamins

By: Rachel Luoma, CAE

For me, January brings a fantastic time of year – new, fresh budgets! Budgeting is one of my favorite times of the year as it allows me to take an in-depth look at the financial operations of the association and better understand the story that the numbers are telling.

Income and Expenses
Image courtesy of Stuart Miles at FreeDigitalPhotos.net
  • Did we hit our projected income this year? If not, why?  What needs to be adjusted or done differently next year?
  • Did we stay within our budgeted expenses? If not, why?  What needs to be adjusted or done differently next year?
  • What was our net profit for operational income/expense? Did we meet budget?  Why or why not?

Continue reading “Budgets – It’s all About the Benjamins”

Wile E. Coyote’s Guide to Association Management

By: Rachel Luoma, MS, CAE

On any given day at least two to three cartoon theme songs are running through my mind!  As I write, I am singing the Jake and the Neverland Pirates theme song.

It could be that I have two young children, or the fact that I love cartoons.  However, regardless of the reasons, I can’t help but draw parallels between cartoons and association management.  It seems that there are several lessons to be learned about how to build better associations from watching cartoon.

So, as my children would say, “Yo Ho Let’s Go”!  Continue reading “Wile E. Coyote’s Guide to Association Management”

Quality Control Systems: How You Can Implement Them into Your Workplace

By: Caroline Thomas

If I had to tell you one thing I have learned in the past year working at Partners In Association Management, it is the importance of quality control systems in our workplace. My position within the Membership Services team,  is serving as quality control for our credit card charges, continuing education for multiple clients and membership status. Additionally, our team handles payment processing, time sensitive data entry and special projects every day. When you add in the high call volume we experience, there is a lot going on at once. Patience, attention to details, and quality of work are crucial. It may sound a little boring, but read on. I use the following tips that could help you too! Continue reading “Quality Control Systems: How You Can Implement Them into Your Workplace”

What’s In Your Accounting Department

By: Ricki Sexton

While I do have many years of association experience, I have more years of accounting experience, which is why coming to work at Partners as a Member Services Manager was a new direction for me.  Numbers, following procedures, checks and balances, and proper and timely recording is something I feel extremely passionate about. Continue reading “What’s In Your Accounting Department”