Are You Ready For Mastercard’s New Recurring Payment Rules?

Earlier this fall, Mastercard issued new rules for merchants processing recurring credit card charges on its network (essentially, merchants who process recurring charges to a Mastercard-branded credit card, regardless of the issuing bank). As originally announced, these new rules would have presented extra and potentially burdensome administrative work for small nonprofits, including arts organizations, that have recurring monthly donations (though enforcement for the recurring donation case was due to begin later than for other types ...

Read More

A Quick Solution To The Problem Of Missing Credit Card Receipts

We’ve all been there, on one end of the conversation or the other: it’s the end of the month and the finance team is missing receipts for charges on company credit cards. Cardholders get a list of undocumented purchases and begin the scavenger hunt. Some are easier to find and forward to bookkeeping, such as online purchases that had an email receipt. Perhaps it was a recurring charge for some software or other subscription; that ...

Finance, Productivity

Leave a comment

Read More

Keeping Your Books Audit Ready

For arts managers outside the finance team, the idea of an audit may seem either terrifying or mundane. Even some inside the finance teams, of organizations of all sizes, the annual external audit process can consume a significant portion of staff time and mental energy for several months of the year. The external audit process results in a document known as the audited financial statements, which provides a professional opinion that the organization’s accounting records ...

Read More