The in-house accounting model for most nonprofits, is a “last millennium” model. In the past, building a top-flight accounting function evolved like this: the organization began using QuickBooks or manual processes, more people were hired to address the accounting needs, the organization grew and acquired additional sources of funding, QuickBooks was replaced with a next-level nonprofit accounting solution, more people were hired, etc.
Today, you don’t have to wait until you grow to enjoy the best nonprofit software or the best nonprofit accounting expertise available. You can outsource and enjoy both. Today’s nonprofit thought leaders understand the benefit of expert accounting and realize that the options are better (and more affordable) under the 21st century outsourcing model.
Outsourcing gives the continuity that in-house staffing simply can’t provide. Nonprofits have a higher employee churn rate than their counterparts in the commercial world. People leave the organization for another job. People retire. When you work with an outsourcing firm, you don’t have to worry key position vacancies or engage in the hiring process.
Ready to do some more myth-busting? You can download the complete list of ‘8 Myths of Nonprofit Accounting Outsourcing Uncovered‘