The importance of clear and organized documentation at nonprofits and charities, emphasizing the need for consistency and accessibility. Beth Farley, CPA and partner at Eide Bailly, joins host Jarrett Ransom for day four of Nonprofit Power Week. The focus of the episode is “Back to Basics,” and Beth’s insights into documenting best practices are invaluable.
Beth discusses She recommends creating a table of contents (TOC) to help organize documents, ensuring that essential information is easily accessible to everyone involved. Beth stresses that documentation should adapt and evolve as an organization grows and changes.
The conversation also touches on the role of automation in documentation and how it can streamline processes and save time. Beth highlights the significance of board involvement in reviewing documentation strategies, as well as the naming conventions for files and folders to maintain consistency.
Beth encourages nonprofits to start organizing their documentation systematically, even if it seems overwhelming at first. She suggests creating folders by fiscal year, designating a permanent file for essential documents, and gradually building a robust documentation system.
The Power Week episode serves as a reminder that while documenting may seem basic, it is a crucial practice that can help nonprofits operate more efficiently, reduce risks, and adapt to their evolving needs.