If your association is to prosper and achieve its full potential, effective cash management is essential, as it is for any business. Indeed, the viability and continuity of your activities depend largely on the health of your finances. To better control your budget and optimize your accounting, advances in digital banking and digital tools offer innovative solutions that simplify day-to-day management.
Discover the many advantages of online business accounts for your foundation's cash flow.
Day-to-day cash management for your association
To ensure the viability of your association's project, it's essential to have a solid initial budget and a well-established business plan. The creation of a treasury for your association implies the appointment of a treasurer and, ideally, the opening of a dedicated bank account. Although it's not always compulsory, having a bank account makes your accounting considerably easier. What's more, direct debit is often required to benefit from subsidies, approvals or to employ staff.
Budget forecasts must take into account your various sources of income, such as membership fees, donations, public subsidies and commercial activities. It's also important to include your fixed costs, administrative deadlines, recurring events and one-off expenses in your detailed plan. These elements make up your organization's cash flow.
On a day-to-day basis, effective management of your foundation's cash flow requires rigorous monitoring of these financial indicators. Your treasurer must be able to easily access movements of funds, record these operations in the accounting books and monitor payments of contributions or funding. What's more, he or she must be able to associate supporting documents with outgoing expenses. All these tasks are greatly simplified thanks to digital interfaces.
Gone are the days of laborious cash register management and the risks of fraud associated with cash handling. Everything is now automated and digitized thanks to the online association business account.
How can online business accounts help you manage your association's cash flow?
Associations in the medical-social sector, sports or cultural clubs, and charitable organizations all share essential financial objectives. Indeed, sound economic health is crucial to the success of their missions. This is where cash management comes in, playing a key role in achieving these objectives. Online pro accounts offer you a range of innovative and relevant solutions to meet your needs.
Real-time accessibility and time savings
From setting up a business account for your association to the day-to-day management of financial transactions, everything takes place simply and intuitively online. Accounts are accessible 24 hours a day, 7 days a week, whether from a computer, smartphone or tablet, for the authorized users you have designated.
Financial transactions take just a few clicks. Real-time notifications let you track expenses instantly, while the receipt scanning function greatly simplifies accounting reconciliation. This is a significant time-saver, allowing you to concentrate on other essential aspects of associative life.
Lower costs and savings
Unlike traditional banks, online financial management solutions offer specific solutions for associations and foundations, in the form of modular packages. These packages include a range of basic services and additional functionalities, helping to keep banking costs to a minimum.
For example, with an online pro account, the bank card is often included at no extra charge. What's more, there are usually no transaction fees, as a certain number of outgoing transfers and direct debits are already included in the monthly package. These savings can then be allocated to other budget items.
Financial transparency and security
Thanks to the cash management interface associated with the online account, your association can now clearly and reliably justify the use of funds, with the option of editing detailed financial reports. This transparency has a significant impact on the receipt of grants and donations, boosting donor confidence.
By digitizing transactions and implementing enhanced security protocols, the risks of cash handling errors and fraud are considerably reduced. In this way, the online business account offers a secure and transparent solution, reassuring not only foundation members but also potential donors.
Simplified collection
Managing cash and cashing cheques is often a time-consuming task for associations. Having access to a payment terminal, included in the monthly online account package, is a highly appreciated solution, both for your treasurer and your members. It makes paying membership fees by credit card smoother and more efficient.
Similarly, the simplicity of the online donation process plays a key role in increasing the number of transactions.
Creation of sub-accounts for provisions for charges
With the Anytime online account, you benefit from an innovative feature: the creation of sub-accounts separate from the main account, enabling you to plan and cover anticipated charges and expenses.
These sub-accounts are a practical solution for managing your association's cash flow. By anticipating expenses via these dedicated reserves, you avoid delays and possible financial penalties.
Complete financial management solution
The association online account offers a full range of additional services to synchronize financial data with accounting needs.
For example, transaction categorization simplifies expense tracking. Customizable bank cards and digital management of expense receipts enable quick and easy integration with your accounting system, with secure document storage.
What's more, customer service and legal protection are just a phone call away. In addition, the tool for creating estimates and invoices is another valuable advantage for the financial management of your foundation.