Admin Bandit – Making it Easy for Volunteer Treasurers

Many volunteer treasurers long for an easier way to keep up with all of their bookkeeping and reporting requirements, but dread the thought of installing a new software system, and learning how to use it. While any time of year is a great time to consider trying Admin Bandit’s bookkeeping suite, the end of year is an especially great time to give it a try.

Save Time at the End of the Year

Since its fully automated, it can help treasurers reclaim some of their valuable time. The holidays are full of frenzied, last minute activities, so anything that can help you save time is especially beneficial.

Fast and Easy Set Up

What does it take to get started using it? About two minutes. All you need to enter is your NPF’s banking information, unpaid invoices and member details. Once this data has been entered, log back in and you’re ready to go!

Increase Accuracy and Remain in Compliance

Important tasks, such as recording transactions and reconciling statements, are basically done for users using the software’s automated processes. The software also calculates GST and other payments automatically as well, and prompts users about when they need to file reports, and when they are required to be lodged. These features improve the accuracy of your records and helps your NFP to remain in compliance with various reporting rules and regulations.

Protect Your Financial Information and Other Data

Since everything is stored online, in the cloud, you no longer must worry about losing your information to the results of a disaster, such as a flood or fire. It also makes your data more secure and reduces the risk of loss due to physical theft or corruption of your data.

Automatic Updates

Users also never have to worry about their software going out of date, since its automatically updated any time there is a change in the programming. Just login online to ensure that you have the latest version of the software, which is updated any time there is a change in reporting or other requirements.

Historical Data

Once you’re used the software for a while, the system will begin to provide historical reports which makes it easier to identify changes that occur over time. This feature is helpful whether there have been changes to your members list, or in the actual performance of a specific department. Regardless of where change has occurred, you and your board will have a handle on it!

This makes it easier for boards to make more informed decisions that will affect the NFP’s finances, and increases transparency in the decision-making process. Having a bookkeeping system that basically does much of the work for you will also go a long way towards making it easier to recruit your NFP’s next volunteer treasurer!

If you would like to see just how easy the software is to use for yourself, why not sign-up today for a free 55-day trial? 

New To The Role Of Volunteer Treasurer?

Admin Bandit is software designed specifically for volunteer treasurers, particularly in the not for profit sectors.  Along with the software, Admin Bandit offers support through the many articles posted to the blog.

If you are new to the role of volunteer treasurer or even just learning how to be a member of a committee of management, there is a lot of really useful content available for you.  There is a very useful series of posts beginning with "Now that I am the Treasurer, what do I do?"  These will help you get settled into the role.

Some of the most important information you need before you begin is how to read and understand the financial reports for your organisation.  Starting at the beginning, the post entitled "What is a Financial Report?" explains what it is, why it is important and what the report includes. 

If you find that the books are a mess and you need help to get them sorted out, read the post on how to fix community organisation accounts.

Finance reports are not just a series of figures.  They are accompanied by a written report which explains what the figures are actually telling the committee.  If you are not sure how to read one, let alone prepare the report, you will find out more at "The Written Finance Report".

Keep reading the blog and you will learn about the role of the committee of management, where the Finance Subcommittee fits in and how the policies and procedures of your community organisation affect your role.

Admin Bandit is there to support you with information as well as systems so that you can comfortably handle your role as Volunteer Treasurer.

Passing The Buck

When your term of office as a Treasurer comes to an end, there is a simple but clear process for handing over the bookkeeping responsibilities to the new Treasurer.

Firstly, it is imperative that you make sure that all of your financial records are up to date, even if there are monies outstanding or invoices unpaid for some reason. As long as you have it all clearly recorded, the new office bearer can move easily into the role and the financial administration can continue to run smoothly.

Many committees don't remember to have their books audited but it makes sense to have a complete audit before you hand the books over to someone new. You will then have a clear record of the state of the finances at the point of handover. Many accountants will offer their auditing services free of charge if you are a small NFP organisation so make enquiries with your local accounting services.

When you contact the bank to organise for any new signatories to be added to the account, don’t forget to get the necessary paperwork for removing anyone who no longer holds a role as signatory within your organisation. Otherwise you can end up with a long list of people who can move money in and out of the NF’s bank account/s and it can become very difficult to maintain accurate banking records. That can obviously expose you to some risk.

Always hand over every historical financial record to the new Treasurer. Although legally you are only required to keep records for the past seven years, it can be a handy reference tool when it comes to expenses and investments, so it often pays for an NFP to keep them for much longer.

Finally, spend some time with the new treasurer and show them how the system works. Every system is a little different and it is important that they can follow an audit trail if they need to look up an older transaction.

A good handover means a smooth progression for the role so take the time you need together.

Treasurer Software named as nations best in the community sector

Congratulations to Admin Bandit Online volunteer treasurer software for their national win a the iAwards. It was named the nation’s number one software product for the community sector after its national win at the iAwards, the Australian Information Industry Association (AIIA) ICT industry awards. The award, seen as one the IT industry’s highest accolades, was a great scoop for the local Canberra business, when it won last Wednesday, 27th of May at the awards ceremony in Melbourne.
Taking out the top prize in the e-Inclusions and e-Community category, Admin Bandit, a software product for volunteer treasurers in community organisations, has been recognised as an industry leading product beating all other Australian state and territory entrants.
How fantastic that it was volunteer treasurer software that received the top gong for the category. Good financial management is crucial to sustainability of community organisations and making the job easier is a good key to achieving that goal. Well done Admin Bandit Online volunteer treasurer software.