Attention all nonprofit organizations! We have exciting news regarding recent legislative changes that may impact your financial reporting requirements. Massachusetts has passed a bill to raise the thresholds for mandatory financial statement reviews and audits for nonprofits – and these changes are effective immediately. As your trusted finance consulting firm, we’re here to walk you … Continued
As a business leader, you’re likely accustomed to wearing many hats. Companies are increasingly turning to outsourcing for their finance and accounting needs. This strategic move allows businesses to focus on their core competencies while leveraging the expertise of specialized service providers to support and manage their financial operations. Outsourcing your finance department encompasses a … Continued
QuickBooks Desktop users, some significant changes are coming your way this July. Intuit, the company behind QuickBooks, has announced alterations that will impact how users subscribe to and access QuickBooks Desktop. Understanding these changes is crucial to ensure a smooth transition if you rely on this software for your business or organization. Here’s what you … Continued
We’d like to share some important news regarding regulatory changes affecting our for profit clients. What is the Federal Corporate Transparency Act? Starting in January 2024, the Treasury’s Financial Crimes Enforcement Network implemented the Federal Corporate Transparency Act, which requires businesses with fewer than 20 employees to provide ownership information. This change aims to strengthen … Continued
Hi, I’m Rondi Chapman, Senior Finance and Accounting Manager at Insource. I serve in a fractional Chief Financial Officer and Controller capacity with our clients, overseeing budgeting, cash management, and strategy. I often actively manage and mentor internal staff in my consultant capacity as the staff and team grow into their roles. How did you … Continued
January is Financial Wellness Month! While the spirit of this “celebration” is intended to turn the focus onto your individual financial health, ensuring the financial health of your company is a critical aspect of sustainable business management. Conducting an annual Financial Wellness Check is akin to your annual physical – a comprehensive health checkup for … Continued
By Tina Harris
Each year, the Internal Revenue Service (IRS) evaluates the contribution limits for tax-advantaged savings plans. Increased cost of living, as measured by inflation, is the key factor in determining whether contribution limits will increase. With the inflation rate at 8.2% in the prior 12 months that ended September 2022, it’s no surprise that annual contributions … Continued
In our last article, we started considering ways that organizations can respond effectively to financial crises. This is more relevant than ever as organizations try to weather the pandemic and navigate their recovery. We considered the kinds of financial crises organizations face and strategic responses to these crises when we find ourselves in the middle … Continued
It is no surprise that the pandemic had significant and sometimes catastrophic financial effects on business and nonprofit organizations. Organizations were left reeling with questions: what do I do now? When do I do it? How can I bounce back when things get back to normal? What can I do now to prevent this situation … Continued
By Bruce Hain
After several years of frustration as the CFO of a mid-sized R&D company, managing what should have been a service-oriented function but was more often a roadblock, I was convinced there had to be a better way. So, in 1993 I started Insource Services. Initially conceived as a financial outsourcing firm, with the goal of … Continued