The Nonprofit Bookkeeper Aishat

In this conversation with Pal Sehmi, the founder of SPIRiT U.K. Managed Services, he shares the importance of IT and cybersecurity for non-profits.
Pal also clarifies the common misconceptions between data security and cybersecurity, offering insights into creating a secure yet accessible work environment amidst the rise of remote working within non-profit organizations.
Our conversation also delves into the use of AI in organizations and its potential impact on humanitarian work.
KEY TAKEAWAYS
IT and cybersecurity are crucial for the efficient functioning of non-profits.Data security and cyber security are different but interconnected aspects of protecting an organization's information.Take action on suspicious activity and implement cybersecurity measures to protect sensitive data.Consider the use of AI in organizations, but ensure it is used in a measured and controlled manner.Stay up to date with technology and cybersecurity considerations for non-profits.BEST MOMENTS
“… have an approach to your technology that gets the maximum value out of it, without it falling too far behind the curve....”
“… Another really interesting area is voice. So if I can record your voice for about 10 or 15 seconds, I can make a phone call, make it sound like it's coming from you.”.
“We just want to get the work done. And then they create this whole shadow IT, don't tell anybody about it. …”
EPISODE RESOURCES
Find out more about SPIRiT https://spirituk.com/
To work with SPIRiT contact https://www.linkedin.com/in/chris-austin-bb068a33/
ABOUT YOUR HOST
Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.
With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.
Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.
Work with Aishat: www.bancservices.co.uk
CONNECT
https://www.instagram.com/npbookkeeper/
https://www.tiktok.com/@npbookkeeper?lang=en

In this episode, your host, Aishat delves into the topic of fund accounting for non-profits, emphasizing the importance of recording income and expenditure by fund.
Using the scenario of a new company receiving income from various sources, Aishat explains the concept of fund accounting and the classifications of funds. She distinguishes between restricted and unrestricted funds, and also discusses designated funds or reserves.
KEY TAKEAWAYS
Fund accounting treats each source of income as a separate pot of money.Restricted funds come with specific requirements and limitations on how the money can be spent, while unrestricted funds have no such restrictions.Designated funds or reserves are unrestricted funds set aside for a specific purpose in the future, providing flexibility for non-profit organizations.BEST MOMENTS
“… specifications as to how the funds could be spent are deemed to be restrictions on the fund.”
“… restricted funds are any donations or grants that come with restrictions attached to it.”
“… Unrestricted funds are the opposite of restricted funds.”
ABOUT YOUR HOST
Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.
With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.
Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.
Work with Aishat: www.bancservices.co.uk
CONNECT
https://www.instagram.com/npbookkeeper/
https://www.tiktok.com/@npbookkeeper?lang=en

Joyce Materego - Woodall, the Director of Finance and Operations of Global Greengrants Fund (GGF) shares her unique journey from aspiring medical student to becoming a qualified accountant with a passion for technology integration.
Our conversation explores the importance of empathy, decolonization, and creating inclusive spaces in the context of finance and operations roles. It highlights the need for empathy to drive long-term change and the challenges of implementing equity, diversity, and inclusion initiatives.
Joyce discusses the importance of prioritizing people within organizations, believing that when employees thrive, financial success follows and talks about a responsibility she carries all the time - “representing the family”
KEY TAKEAWAYS
The intersection of social and environmental issues is an important area of focus for creating positive change.Empathy is a powerful value that can drive long-term change and should be applied to all individuals, not just specific groups.Representation and progression in leadership roles are crucial for creating diverse and inclusive organizations.Understanding the complexity and volume of work in finance is important for appreciation and recognition.BEST MOMENTS
“… numbers are like a language. They can help you tell stories, but they don't function by themselves without words...”
“… and it manifests itself in people asking you to move a mountain in two seconds…”
"... I want to do my job so well that when I leave and somebody else shows up for this role, and they look like me, It triggers good memories, like, oh, this is someone who looks like Joyce, they’re probably bringing good news.”

EPISODE RESOURCES
Find out more about GGF https://www.greengrants.org/
Connect with Joyce https://www.linkedin.com/in/joyce-materego-woodall-b7545520/

ABOUT YOUR HOST
Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.
With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.
Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.
Work with Aishat: www.bancservices.co.uk
CONNECT
https://www.instagram.com/npbookkeeper/
https://www.tiktok.com/@npbookkeeper?lang=en

In this conversation, Lewis English, the Founder of Underpin Business and Marketing Consultancy discusses with me, the challenges and misconceptions in non-profit back-office functions and emphasizes the value of outsourcing tasks and focusing on one’s core skills.
He stresses the need for non-profits to adopt business-like strategies and shares impactful consulting experiences aiding non-profits. Lewis also highlights pricing services and self-value in the sector, advocating leading with value over mere funding.
This episode covers a wide range of topics including aligning missions and values, storytelling, balancing financial management with marketing, long-term strategy, mission alignment and about public sector nuances!. Tune in to listen!
KEY TAKEAWAYS
Storytelling is crucial in fundraising, and organizations should lead with the value they provide.Balancing financial management and marketing is essential for the survival and growth of a business.Non-profit leaders should prioritize a long-term strategy and ensure everyone in the organization understands and works towards the mission.Public sector organizations face unique challenges and should strive to be more business-like in their approach.BEST MOMENTS
“…it's about having that mentality of doing today whilst preparing for tomorrow.”
“… communication up is important, but not nearly as important as communication down ….”
“Everybody has a function in delivering the mission.”
“… a lot of business podcasts are, particularly trying to push a type of work very hard, do lots of things, work as hard as you can, hustle, be an entrepreneur. And I don't think that's right for everybody.”.
EPISODE RESOURCES
The Five Step Marketing Plan: https://amzn.eu/d/icRhBj6
Work with Underpin https://underpinconsultants.com/marketing-consultant-book-a-meeting/
Connect with Lewis https://www.linkedin.com/in/lewis-english-2b810130/
ABOUT YOUR HOST
Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.
With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.
Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.
Work with Aishat: www.bancservices.co.uk
CONNECT
https://www.instagram.com/npbookkeeper/
https://www.tiktok.com/@npbookkeeper?lang=en

In this episode of The Nonprofit Bookkeeper, your host Aishat, discusses the basics of charts of accounts and key considerations for start-ups and those looking to migrate to new software.
Aishat talks about your aligning your chart of accounts with reporting needs, and the importance of a meaningful and scalable system, and emphasizes the importance of investing time in setting up a well-structured chart of accounts for smoother financial insights in the future.
KEY TAKEAWAYS
Understand the significance of a chart of accounts as a categorization tool for income, expenditure, and balance sheet categories.Ensure clarity in your chart of accounts to minimize confusion and facilitate accurate transaction recording.Implement a flexible numbering system to accommodate changes without disrupting the existing setup as the organization grows.Aligning the chart of accounts with reporting needs helps streamline the reporting process and provide meaningful information to stakeholders. RECOMMENDATION
Incorporate separate fields in your chart of accounts to track transactions for specific stakeholders, such as donors.Choose software that can adapt to future tracking needs to avoid disruptions in financial processes.Customise your chart of accounts to align with the specific needs of stakeholders, to help enhance reporting capabilities. ABOUT YOUR HOST
Aishat Idris, the host of "The Nonprofit Bookkeeper," brings a wealth of experience in non-profit financial management to her audience.
With her podcast, she shares practical insights and expertise to streamline financial management for non-profits, driven by her passion for empowering professionals in the sector. Aishat, the founder of BAnC Services, a bookkeeping and accounting services practice, has dedicated over two decades to serving non-profits.
She is the author of "Money Solutions for Single Mums" which focuses on supporting single mothers with navigating financial management challenges. She also champions financial literacy among young black adults and thrives in discussions about money management.
Work with Aishat: www.bancservices.co.uk
CONNECT
Instagram
TikTok

Join me and my guest, Ingrid Fawcett, co-founder of Midlife 360, as we explore the world of social enterprises and their unique challenges, focusing on empowering women in midlife. Ingrid shares her journey alongside co-founder Sally Field, blending business acumen with a passion for societal impact, ultimately bridging gaps for women re-entering the workforce. Ingrid also sheds light on the differences between social enterprises/Community Interest Companies (C.I.C.) and Charities, discussing registration challenges and financial planning strategies for new ventures like Midlife 360.
KEY TAKEAWAYS
The founders of Midlife 360 have faced challenges during the registration process, but have learned valuable lessons and gained clarity on their mission.Financial management and opening bank accounts can be challenging for social enterprises, but building relationships with banks and seeking support can help navigate these processes.Midlife women facing challenges and transitions can benefit from seeking support and recognizing their skills.BEST MOMENTS
“There was somebody else who was building a web, an app about sharing tools at home between men and women…”
“… personally, that whole element of it terrifies me. So, it’s one of those sorts of things that, it goes back to doing maths at school….”
“You and Sally are probably juggling everything on your own. How do you manage it all, I hand it all over to Sally. Good idea”
“So I'd say to anybody who's starting something, it's starting to invest in that relationship prior to actually opening the bank account”.

EPISODE RESOURCES
Cambridge Judge Bus. School's Social Venture Weekend
Allia Grow you Bus. Social Ent. Programme
Connect with Midlife 360
Connect with Ingrid

ABOUT YOUR HOST
Aishat operates her own practice – BAnC Services which focuses primarily on serving non profits. Before founding her practice, she dedicated over two decades to the non profit sector. Beyond her professional endeavours with non profits, Aishat is deeply committed to supporting single mothers in navigating financial management challenges and is the author of "Money Solutions for Single Mums" (available at https://amzn.eu/d/fvDcdG). Additionally, she is passionate about educating young black adults on financial literacy. In essence, Aishat is particularly enthusiastic when engaging in conversations about money management.
Work with Aishat: www.bancservices.co.uk

CONNECT
LinkedIn
Instagram
TikTok