npo hot topics: keeping control in a tech savvy world
TRANSCRIPT
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KEEPING CONTROL IN A
TECH-SAVVY WORLD
NON-PROFIT HOT TOPICS:
GROUND RULESQuestions
• Attendees are in listen-only mode• This webinar is being recorded for future on-demand playback• Your participation represents acknowledgement that we are recording• Tweet questions & comments to: #WelchNPO
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Kathy Steffan, CPA, [email protected]@WelchToronto
Christa Casey, CPA, CAPartner & Director of the Not-for-Profit [email protected]@ChristaCaseyCPA
PRESENTERS
Virginia Lackey, CPA, CA, CIASenior Manager & Director of Assurance [email protected]@WelchToronto
WHAT WE’LL COVER TODAY
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• Banking innovations
• The updated payroll process
• Going paperless
• Being on the “Cloud”
• Q&A
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BANKING INNOVATIONSOnline banking – Features• Online bank access• Making electronic payments• Remote approval• Deposits using cheque scanners• Read only access• Electronic bank statements with scanned cheques
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BANKING INNOVATIONS
Online banking – Benefits• Constant access to bank activity• Cost efficient• Time saving• Improved controls• Environmentally friendly
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BANKING INNOVATIONSRisks/Costs• Implementation time & training
• Learning curve- not everyone is tech savvy
• Need to ensure that controls mirror pre-implementation- cheque signing; segregation of duties
• Appropriate computer access required by cheque signers
• Cheque signers need to carry payment token/fob
• Need to implement process for emailing cheque signers support for payments
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THE UPDATED PAYROLL PROCESS
• Electronic employee files• Timesheets/timecards• Payroll outputs/registers• Payments/EFTs
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THE UPDATED PAYROLL PROCESS
Electronic employee files• Saves space
• Lower storage costs
• More accessibility
• Reduction in risk of loss
• Online onboarding
• Restricted access
• Completeness
• Document retention
• Data security
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THE UPDATED PAYROLL PROCESS
Electronic timesheets• Increased accuracy• Convenience• Increased productivity
• Approval of timesheets• Restrictions to changes
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THE UPDATED PAYROLL PROCESS
Payroll outputs• Environmentally friendly• Convenience
• Evidence of review• Storage
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THE UPDATED PAYROLL PROCESS
Payments • Time saving
• Authorization
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GOING PAPERLESS
Five Steps:1. Internal Documents (ie- Google Docs)2. Paperless Bank Statements and bill payments 3. Storage & file sharing (ie- Dropbox, YouSendIt)4. Meetings and Printouts (ie- Doodle, SurveyMonkey,
TeamViewer, & whenisgood.net)5. Paperless Scanning & faxing (ie-Turboscan, eFax.com)
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Benefits:• Helps businesses lighten the load• Clears clutter from the office• Low cost or free solutions• Decreases Environmental footprint• Great PR Message• Less office space…lower rent (no more filing cabinets)
GOING PAPERLESS
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Risks/ Costs:• Strong implementation plan & team lead mandatory• Timely conversion process requiring diligence and flexibility from all
staff and Board members• Technical integration is key• Time cost for training and implementation• Not following proper storage procedures could lead to havoc• Challenging to non tech savvy users/staff• Safeguarding client/customer data in appropriate proprietary
environment• Need to ensure proper retention for CRA and other regulatory
bodies (ie- CRA- a minimum of 6 years)
GOING PAPERLESS
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Ways to be on the “cloud”• Data storage/sharing• Service providers
BEING ON THE “CLOUD”
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Why be on the “cloud”• Cost savings• Flexibility• Disaster recovery• Security
BEING ON THE “CLOUD”
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Considerations being on the “cloud”• Data location• Document retention• Data security
BEING ON THE “CLOUD”
QUESTION & ANSWERQuestions
• Tweet questions & comments to: #WelchNPO
Windows Mac Tablet
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Kathy Steffan, CPA, [email protected]@WelchToronto
Christa Casey, CPA, CAPartner & Director of the Not-for-Profit [email protected]@ChristaCaseyCPA
ASK THE EXPERTS
Virginia Lackey, CPA, CA, CIASenior Manager & Director of Assurance [email protected]@WelchToronto