Accounting association: The key to financially healthy governance
Financially healthy governance: A major problem for associations
In the Netherlands, thousands of associations face financial challenges. From sports clubs to cultural foundations: financial administration is often a stumbling block. Research shows that 65% of the associations have difficulty keeping their financial administration in order. This can have far-reaching consequences:
- Grants and donations are lost due to administrative errors.
- Tax returns are not filed correctly, resulting in fines.
- Members lose trust when financial transparency is lacking.
- Volunteers are struggling with a lack of time and a lack of accounting knowledge.
With increasingly stringent regulations and a growing need for transparency, many associations are struggling with their financial obligations. Fortunately, there are efficient solutions that help associations no longer have to be financially unhealthy.
In this blog, you will learn how to manage your association's financial administration easily and professionally. We'll discuss practical tips, smart solutions and how NIKKI can unburden you.
Why is bookkeeping crucial for an association?
Healthy financial administration is the backbone of an association. Bad administration can lead to loss of subsidies, fines, or mistrust among members. Did you know that 65% of the associations have trouble keeping their financial administration in order? Fortunately, this doesn't have to be an obstacle!
Common accounting problems among associations
Many associations run into the same problems when it comes to financial administration:
- Unclear administration: Invoices, subsidies and contributions are not properly maintained.
- Lack of expertise: Board members often have no experience with bookkeeping.
- Lack of time: Volunteers have limited time to keep records.
- Loss of subsidies: Bad administration can lead to missing out on important income.
- Tax reporting errors: Incorrect reports can result in fines.
How do you keep your association's accounts in order?
Do you want to improve your association's financial administration? Here are some essential steps:
1. Use the right accounting software
A good one accounting program for associations prevents errors and saves time. A popular choice is AFAS SB+, the software that NIKKI uses for flawless administration.
2. Automate recurring tasks
Think of the automatic processing of bank transactions, contribution collection and the generation of financial reports.
3. Comply with the accounting rules for associations
It is important to comply with the ANBI administration and other accounting rules for associations to prevent fines and sanctions.
4. Perform a regular cash check
An annual cash control committee checks that all expenses and income are registered correctly.
Financial Management Association: Outsource or do it yourself?
Many associations are considering outsourcing their financial administration. Why?
- Save time: More focus on members and activities.
- Expertise: Prevent errors and comply with legislation.
- Continuity: Even in the event of changes of administration, the administration remains stable.
For instance, NIKKI offers a total package including e-bookkeeping, tax reporting, subsidy administration and financial reports. For only €150 per month you will be completely unburdened!
Checklist: Financially healthy association
Do you want to make sure that your association remains financially healthy? Use this checklist:
- ✅ Collect contributions without payment arrears
- ✅ Apply for subsidies and correctly account for them
- ✅ File a tax return correctly (e.g. VAT return)
- ✅ Prepare financial statements for a clear financial overview
- ✅ Appoint a cash control committee for transparency
How NIKKI can help your association!
NIKKI offers specialized administrative services for associations, including:
- Book invoices and prepare payments
- Processing bank and cash movements
- Prepare financial statements and association balance sheets
- Provide tax returns and subsidy administration
- Optional services such as payroll and contribution collection
For just €150 a month, you don't have to worry about your financial administration anymore!
FAQs
1. What makes NIKKI unique?
Our partnership with AFAS SB+ offers seamlessly managed administration. You always get real-time insight into the financial status of your association.
2. How does the switch to NIKKI Administration work?
The switch is easy. We start with an informal conversation, draw up a plan and ensure a smooth transition.
3. What are the first steps to working with NIKKI?
Contact us and request a free demo. We will guide you from A to Z!
Conclusion: Simplify your association administration with NIKKI
Managing the financial administration of an association doesn't have to be a headache. With the right software, automated processes, and the support of a specialist like NIKKI, you save time and prevent errors.
Wondering how NIKKI can unburden your association?
At NIKKI, we love personal contact and quick solutions. Whether you have a question about our services, want to discuss a collaboration or just want to have a chat, we're here for you.
