Earlier this month, the Internal Revenue Service (IRS) released guidelines on reporting qualified sick leave and family leave wages paid in compliance with the Families First Coronavirus Response Act (FFCRA). Employers will be required to report the amounts paid either on Form W-2 or a separate statement. For Employees Due to the COVID-19 pandemic, employers … Continued
At Insource we strive to make sure your nonprofit has everything it needs to operate efficiently and safely. With this in mind, we’ve created a series of blogs around keeping your nonprofit safe, covering important aspects of Finance, HR, and Technology. This week: We’re talking about financial fraud. At this particular time, while nonprofits may … Continued
By Bruce Hain
The Small Business Administration (SBA) has finally released the form used for Paycheck Protection Program (PPP) Loan Forgiveness. The PPP is an SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Introduced to provide a direct incentive for small businesses to keep their staff on payroll, the SBA offers loan … Continued
The state of Massachusetts requires all Massachusetts employers with more than 6 employees to comply with the Health Insurance Responsibility Disclosure (HIRD) filing. This was adopted as part of the 2018 revisions to the Commonwealth’s Employer Medical Assistance Contribution (“EMAC”) legislation. The Health Insurance Responsibility Disclosure (HIRD) form is a state reporting requirement in Massachusetts. … Continued
Back in April, we talked about Azure credit reductions, and how your nonprofit might be affected. It was a part of Microsoft’s $1 billion Public Cloud for the Public Good commitment. It offered qualified organizations free credits to redeem on Azure services, normally Microsoft EMS (Enterprise Mobile Security) E3. Microsoft EMS E3 includes Azure Active … Continued
By Matt Mone
A new wire fraud scam is targeting your direct deposit info. Here’s what you need to know. Our clients have been seeing more and more of a recent scam which is targeting the HR functions of businesses, convincing employees to swap out your direct deposit banking information to an offshore account. This is often in … Continued
By Saleha Walsh
Choosing accounting software can be a challenging project for any organization. Each software option includes a different set of features, and most offer multiple pricing plans to choose from, which also vary by feature, number of users, or other factors. In our experience, the more planning and preparation you put into the project, the greater … Continued
By Saleha Walsh
Dear Finance Expert, I’m a nonprofit board member and admittedly I don’t feel comfortable interpreting financial statements. What should I focus on? What are the important questions I should be asking to meet my fiduciary responsibilities and protect the organization? Signed, Lost in Translation Dear Lost in Translation, Reading financial statements can be flat-out intimidating. … Continued
Small businesses and nonprofit organizations are faced with the challenge of managing their costs and spending and implementing technology to leverage their resources and support achievement of their business goals. As every dollar counts, many nonprofits utilize Cloud solutions because they are often the most cost-effective and sustainable technology solution. How Cloud Computing Can Save … Continued
By Saleha Walsh
Most nonprofits know that proper internal controls are essential to protect their organizations against fraud, embezzlement and inaccurate financial reporting. The difficulty with implementing a plan to safeguard an organization often lies with limitations on budget and staff to properly set effective financial controls and separation of duties. So where do you start? No matter … Continued