The Nonprofit Bookkeeper (Aishat)

In this special episode, Aishat explores what charity fraud is, the common risks charities face, and actionable steps to prevent it.

With a focus on small charities, Aishat explains why these organizations are particularly vulnerable to fraud and offers practical tips to safeguard resources, protect reputations, and maintain public trust. Plus, she shares some real-life examples of charity fraud.

Whether you’re a charity leader, trustee, volunteer, or donor, this episode is packed with valuable insights to help you stay fraud-aware all year long.

KEY TAKEAWAYS

• Charity fraud undermines trust in the nonprofit sector.
• Awareness of fraud is crucial for all charities.
• Robust policies can help mitigate fraud risks.
• Regular audits can catch discrepancies early.
• Training staff to recognize red flags is essential.
• Fraud prevention is a collective responsibility.

EPISODE RESOURCES

Donations Fraud: https://www.bdo.co.uk/en-gb/insights/industries/not-for-profit/giving-or-taking-is-your-charity-losing-funds-to-fraud

Internal Fraud: https://www.gov.uk/government/case-studies/case-studies-of-insider-fraud-in-charities

Register Interest for Charity Fraud Report 2024: https://www.bdo.co.uk/en-gb/insights/advisory/forensic-services/charity-fraud?_gl=1*1bzqw7w*_ga*MTk3ODAzMzc0Mi4xNzMyNTQ4NTUw*_up*MQ..#register

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

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In this episode of the Nonprofit Bookkeeper, you host Aishat, discusses Financial Sustainability in non-profits. She talks about a two-prong approach to financial sustainability and outlines three actionable steps each for optimizing income and managing costs, all aimed at bolstering your non=profit's financial resilience.

KEY TAKEAWAYS

Financial sustainability in non-profits is about securing the resources needed to carry out the mission over the long term.

Being a going concern is not the same as being financially sustainable

Diversifying income streams and developing grant writing expertise can enhance financial sustainability.

Reviewing expenses, building reserves, and engaging in long-term planning contribute to financial sustainability.

BEST MOMENTS

"Financial sustainability is like having the proper training, nutrition, and pacing strategy for a runner to complete the race."

"Say thank you to your donors by acknowledging them and keeping them up to date on the impact their grant is making."

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

Instagram

TikTok

In this inspiring episode of "The Nonprofit Bookkeeper," I sit down with the passionate and driven Denise Stephenson, a lawyer turned advocate who is dedicated to uplifting young black and brown children through her charity, Reach Out to Kids (RO2K). As co-founder of Emancipated Run Crew as well, she's making strides in creating inclusive spaces within the running community.

Denise story of resilience, determination and proving doubters wrong by becoming a successful lawyer and later pivoting to full-time charity work, is a must listen! Through RO2K, Denise is breaking barriers & paving the way for future generations. She highlights the invisible work that goes on behind the scenes to support the mission of RO2K.

This episode is more than an insight into non-profit management; it is about advocacy, breaking stereotypes, and changing narratives—one child at a time!

KEY TAKEAWAYS

• Funding is a major challenge for non-profits, and multi-year funding is needed for sustainable growth.
• The application process for funding can be time-consuming and challenging, especially for smaller organizations.
• Partnerships with corporate organizations can provide valuable funding and support.

BEST MOMENTS

“… we had a shoot, a student showcase, where we were celebrating the work that the students did for the. Mayor of London's challenge, seeing those children, those young people get up and talk in front of an audience of people, whereas when they started, some of them were SCN students. They wouldn't even talk. When we first got them, they would not talk. They wouldn't put their hands up. They wouldn't volunteer to mentor. They wouldn't do any of it. At the end of it, they were standing on a stage. Presenting their ideas in a very professional, passionate way, I almost cried...”

EPISODE RESOURCES

Find out more about RO2K https://www.linkedin.com/company/rok-reach-out-2-kids/

Connect with Denise: https://www.linkedin.com/in/denisestephenson2/

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

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TikTok

Welcome to "The Nonprofit Bookkeeper," where we delve into the inner workings of nonprofits. Join your host, Aishat, as she reveals the often unseen contributions of the heroes who ensure the fulfillment of a nonprofit's mission and offers valuable tips on nonprofit financial management.

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

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Instagram

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In this episode, Aishat explores the concept of a negative budget and how it can be used strategically by charities to drive growth and meet community needs. While many charities strive for balanced or surplus budgets, sometimes running a planned deficit can help organizations invest in their future. Aishat breaks down when and why a charity might choose to adopt a negative budget, how to present it to a board, and what to do if the board is more risk-averse.

KEY TAKEAWAYS

• A negative budget can be a valuable planning tool if approached thoughtfully.
• Board approval is critical for implementing a negative budget.
• Different boards have varying levels of risk tolerance.
• Evidence of potential funding sources can help secure board approval for a negative budget.
• Preparing a balanced budget as a baseline can demonstrate financial responsibility.
• Transparent communication with the board is essential for maintaining trust.
• A negative budget can drive meaningful change if managed properly.

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

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TikTok

Today's guest Patrick Regan, Founder of Rights Evaluation Studio, an independent monitoring and evaluation consultant, who brings a wealth of experience from his work with health and human rights organizations, sheds light on the importance of monitoring and evaluation (M&E) in the non-profit sector and how to make the most of a limited MEL budget.

We explore the critical elements of monitoring and evaluation (M&E) in non-profit organizations and Patrick shares lots of practical tips for making the most of a restricted M&E budget.

KEY TAKEAWAYS

• A theory of change is a crucial tool for non-profits to articulate how their activities will lead to long-term impact.
• Participation of stakeholders, including those with lived experience, is key to effective M&E and can lead to more relevant and impactful programs.
• Non-profits can implement a robust M&E system even with limited resources by prioritizing data collection and involving staff with relevant skills.
• Effective communication of M&E findings to donors requires a combination of quantitative and qualitative information, tailored to the preferences of the audience.

BEST MOMENTS

"Monitoring and evaluation is a combination of applied social research and project management principles and practices."

"Stories are often the most compelling way to understand impact."

“… if you have a very scientific donor, they're probably not going to want the story stuff. They're going to want a lot of hard statistics.”

“A lot of resources can be spent sometimes at the wrong time, which limits the impact that budget could have….”

EPISODE RESOURCES

Find out about Rights Evaluation Studio’s services https://rightsevaluation.studio/

Connect with Patrick: https://www.linkedin.com/in/patrick-regan-a5725b120/

OECD DAC Principles: https://www.oecd.org/dac/evaluation/daccriteriaforevaluatingdevelopmentassistance.htm

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

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TikTok

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

Budgeting is an important tool for mastering and managing a nonprofit’s finances effectively. It is a financial roadmap that outlines income sources and expenses.

So, in this episode, I talk about the basics of budgeting and the pre-requisites for a useful, quality and realistic budget.

If you’ve ever wondered how much funds are available in your non-profit to deliver its mission, what its expenses are and/or how the actual financial operations compare to what you thought it would be; then this episode is for you.

Have a listen to discover practical steps and tips to developing a realistic and useful budget.

KEY TAKEAWAYS

Budgeting is crucial for managing non-profit finances effectively.

A budget is a financial roadmap that outlines income sources and expenses.

Estimate income conservatively and include all possible expenses when creating a budget.

Regularly review and adjust the budget as necessary.

BEST MOMENTS

" A budget should be a living document that gets reviewed periodically, rather than treated as a one-time tick-box, static document."

" Set aside a portion of your budget for unexpected expenses or opportunities."

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

Instagram

TikTok

Poncelet Ileleji, the CEO of Jokkolabs, an international not-for-profit initiative. is an esteemed advocate for digital inclusion in Africa and has made significant contributions to connecting people to the internet and using tech as a force for good. Together we dive into the intersection of technology, money management, and social change. Poncelet talks about Jokkolab’s mission, the focus on solutions for the future, the challenges of managing IT on a global scale, and the impact of digital transformation on the organization. He also talks about the importance of staying up to date with IT trends, the benefits of prioritizing IT for small charities, cybersecurity considerations for nonprofits, and the role of technology in social impact.

Poncelet goes on to talk about the importance of money management for nonprofits and strategies for managing the cost-of-living crisis.

KEY TAKEAWAYS

• Staying up to date with IT trends is crucial for nonprofits to leverage technology for social impact.

• Prioritizing IT can bring numerous benefits to small charities, including improved efficiency, increased reach, and enhanced impact.

• Nonprofits should prioritize cybersecurity and implement cost-effective measures to protect their data and systems.

• Effective money management is essential for nonprofits, and having an emergency fund is crucial for financial stability.

• The cost-of-living crisis has highlighted the importance of money management for individuals and organizations alike.

BEST MOMENTS

“Jokkolabs is an innovation hub, we are all computer scientists.”

“Nigeria is leading fintech in Africa...”

“…if you look at the 17 sustainable development goals, the most important one to me, is goal 17, partnership for development.”

“… digital, , transformation starts with changing mindsets.”

“… for finances, I will say, look at your mom and , cut your coat according to your size. You know, you don't have to buy a new car if you cannot really afford a new car because your, your buddy has a new car.”

EPISODE RESOURCES

https://sdgs.un.org/goals

Connect with Poncelet (Guest): https://www.linkedin.com/in/poncelet-ileleji-a7316010/

ABOUT YOUR HOST

Aishat operates her own practice – BAnC Services which focuses primarily on serving nonprofits. Before founding her practice, she dedicated over two decades to the nonprofit sector. Beyond her professional endeavors with nonprofits, 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

Aishat’s LinkedIn: https://www.linkedin.com/in/aishat-idris/

CONNECT

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

In this episode, Aishat dives into a crucial topic for anyone managing charity finances: understanding fund types. Starting with the basics of restricted and unrestricted funds, she unpacks common terms like designated funds, ringfenced funds, and general funds, explaining what they mean and how they impact a charity's financial operations. This episode is all about helping nonprofit professionals, trustees, and financial advisors speak the same language when it comes to fund management.

Whether you're a trustee, staff member, or a charity’s accountant, this episode will provide clarity and practical tips to ensure your financial management is spot on.

KEY TAKEAWAYS

• Understanding fund types is crucial for effective financial management.
• Restricted funds must be used as specified by the donor.
• Unrestricted funds offer more flexibility for charities.
• Designated funds are a type of unrestricted fund set aside for specific purposes.
• Ring-fenced funds can refer to restricted or designated funds, depending on context.

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

Instagram

TikTok

Check out ExpensePlus and sign up for a month's free trial and 10% off your first year's subscription, using my referral link http://expenseplus.co.uk/r/AI-BANC

In this episode, Aishat discusses her experience at the Problem Solving for Painful Payments Roundtable, focusing on key accounting challenges faced by international charities.

She does a dive into a common financial challenge faced by international NGOs - managing multiple exchange rates when handling expenses and donor funds and shares a practical solution that can simplify reporting and reconciliation: the Weighted Average Exchange Rate (WAER).

KEY TAKEAWAY

• Exchange rate fluctuations can complicate accounting
• WAER helps standardize conversions, making financial reporting and reconciliation easier.
• WAER is particularly useful in two key scenarios:
  • When field staff convert currency at different rates during trips, creating multiple exchange rates for expenses.
  • When donor funds are received in multiple tranches at varying exchange rates, impacting financial reporting.
• WAER simplifies accounting by averaging exchange rates – Instead of tracking every individual conversion, organizations can use a single calculated rate for consistency.
• Exceptions exist – Some donors may require a fixed exchange rate, in which case WAER may not be applicable.

EPISODE RESOURCES

Ebury: https://ebury.com/

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

Instagram

TikTok

In this episode, we recap and reflect on the The Nonprofit Bookkeeper's journey to date.

I also share information about the approach of a summer hiatus and take the opportunity to pause and reflect on some of the topics discussed with guests to date.

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

Instagram

TikTok

In this episode, Aishat tackles one of the most anxiety-inducing tasks for charities: the annual audit. But don’t worry, it doesn’t have to be stressful! With a decade of experience leading finance teams through clean audits, Aishat shares practical tips and strategies to help you prepare for your charity’s audit with confidence and ease.

KEY TAKEAWAYS

• Audits can be an opportunity to improve financial processes.
• Preparation is key to a stress-free audit experience.
• Using accounting software can streamline the audit process.
• Maintaining an audit trail helps auditors verify transactions.
• Revisiting previous audit findings is essential for improvement.

RESOURCES AND RECOMMENDATIONS

Expense Plus: https://expenseplus.co.uk/features

Xero: https://www.xero.com/uk/small-businesses/non-profit/

Quickbooks:

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

Instagram

TikTok

In this episode, your host, Aishat, flips the script by becoming the interviewee.

During the conversation, Aishat shares her extensive journey of more than two decades of employment in the nonprofit sector and details her experiences in finance and operations.

She recounts how a week-long assignment evolved into a decade-long career and progressing from an entry-level finance role to high-level management positions and to working independently in various international NGOs.

Aishat also reflects on navigating new responsibilities and autonomy, implementing controls and; policies and procedures, while also addressing the challenges of effective communication and change management. On a personal note, she briefly touches on mental health challenges within her family.

Aishat goes on to talk about establishing her own Bookkeeping and Accounting Services practice and catering predominantly to nonprofits, highlighting valuable lessons learnt on the journey so far.

Finally, Aishat elaborates on the motivations behind launching her podcast and the objectives she aims to accomplish.

KEY TAKEAWAYS

• Continuous learning opportunities can contribute to long-term employment in the nonprofit sector.
• Internal audits and donor compliance are crucial aspects of financial management in nonprofit organizations, but understanding the country context is important when conducting audits in different locations.
• Effective communication and change management are crucial when implementing new policies and procedures.
• Marketing is key to the success of a business, and it is important to start building a network and putting yourself out there even before launching the business.
• Back office functions in the nonprofit sector are often overlooked but play a crucial role in upholding the mission.

BEST MOMENTS

“if they say, the program starts at nine a.m. nine 30 is gonna be kick off, you have coffee and mingling at from 9a.m. to 9:30. I wouldn't appear at the event until 9:35”

“I thought, yeah, Gambia is West Africa, so it should be… If you need to walk over today, you could walk across. Yeah, that's what I thought. You know how I am how with geography…”

ABOUT YOUR HOST

Aishat operates her own Bookkeeping and Accounting services firm, primarily focusing on serving nonprofits. Before founding her practice, she dedicated over two decades to the nonprofit sector. Beyond her professional endeavors with nonprofits, Aishat is deeply committed to supporting single mothers in navigating financial management challenges. She is also the author of the book "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.

SOCIALS

https://www.linkedin.com/in/aishat-idris/

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

Kate Brown, a system accountant with over two decades of experience in the charity sector speaks to Aishat about transitioning from management accountant to system accountant, her experience running her own company, and her decision to return to employment.

We also explored the challenges of technology adoption in the charity sector and the importance of balancing stability with innovation. Kate shares her insights on the role of a system accountant in addressing financial challenges and supporting the mission of an organization. We also touch on the qualifications vs. experience debate and the importance of continuous learning. We ended our conversation with a reflection on the impact of the cost-of-living-crisis and; relaxation.

KEY TAKEAWAYS

Transitioning from a management accountant to a system accountant requires a shift in focus from routine financial tasks to supporting finance systems and processes.

The charity sector has experienced significant changes due to external factors such as donor requirements, GDPR, and technological advancements.

System accountants play a critical role in addressing financial challenges and supporting the mission of an organization by ensuring the effective use of finance systems and technologies.

Balancing stability and innovation is crucial when adopting new technologies in the charity sector, and it is important to involve and gain buy-in from users throughout the process.

While qualifications can be important in certain contexts, experience and a willingness to learn and adapt are also valuable assets in the finance sector.

BEST MOMENTS

“Do your due diligence and bring the users with you would probably be my sort of top tip for introducing technological changes”.

“Change for the sake of change is seldom a good idea.

“… general concern that with the cost-of-living crisis, people are going to, look at what they can cut and maybe charity donations is a thing that they can cut without, affecting them personally. So that was certainly a concern”.

EPISODE RESOURCES

Kate Brown: https://www.linkedin.com/in/kate-brown-2435b821/

Social Hang out: https://www.meetup.com/croydon-board-gamers/

ABOUT THE HOST

Aishat operates her own Bookkeeping and Accounting services firm, primarily focusing on serving nonprofits. Before founding her practice, she dedicated over two decades to the nonprofit sector. Beyond her professional endeavors with nonprofits, Aishat is deeply committed to supporting single mothers in navigating financial management challenges and is the author of the book "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

Aishat’s LinkedIn: https://www.linkedin.com/in/aishat-idris/

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

1. Understand the significance of a chart of accounts as a categorization tool for income, expenditure, and balance sheet categories.
2. Ensure clarity in your chart of accounts to minimize confusion and facilitate accurate transaction recording.
3. Implement a flexible numbering system to accommodate changes without disrupting the existing setup as the organization grows.
4. Aligning the chart of accounts with reporting needs helps streamline the reporting process and provide meaningful information to stakeholders.

RECOMMENDATION

1. Incorporate separate fields in your chart of accounts to track transactions for specific stakeholders, such as donors.
2. Choose software that can adapt to future tracking needs to avoid disruptions in financial processes.
3. 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

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In this episode of our business anniversary series, I shine a light on Culture Community, a Saturday school for children aged 8 to 16 that focuses on black history, culture, and traditions.

Culture Community provides a safe space for children to discuss their feelings. offers lessons on black leaders and inspirational figures, along with engaging activities and games.

I sit down with the Founder, Precious Graham, to discuss her inspiration for starting the school, the challenges they’ve faced, and their many accomplishments. Precious also shares why they "keep it moving" despite obstacles, her vision for the future of Culture Community, and the partnership between Culture Community and BAnC Services.

Precious explains Kwanzaa (one of their planned activities) the way she has experienced it, as the celebration of Christmas by Rastafarians, though google explains it as an African American celebration.

Tune in to learn more about this vibrant Black Saturday School and the enriching experiences it offers for your child.

KEY TAKEAWAYS

• Anyone that wants to learn about black history is able to come along.

BEST MOMENTS

“… there may be days when you create something and two people turn up, no matter how many people turn up. You always have to show up, you always have to give them the best experience…”

“… our team is ready to go. Like, we're always ready to pounce, We're not scared of any challenges. We're just ready to roar, let's say that..”.

… you have to always think, in order for this to work, you need to still have finances coming in and then you're able to give out more…”.

"A lot of the children always say to us, we love Culture Community because we feel like we're being listened to. It's not like typical school..."

EPISODE RESOURCES

Find out more: https://www.culturecommunity.co.uk/

Connect: https://www.instagram.com/culturecommunitycic/?hl=en

Follow: https://www.facebook.com/CultureCommunity21/

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

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In this episode, I sit down with Dan Goodwin an International Payments solutions specialist. We discuss the basics of international money transfer, the impact of exchange rates, and the negotiation of cost-effective transfers with MSPs.

The conversation covers a range of topics related to international money transfers for non-profits, including negotiating with payment partners, navigating banking regulations and understanding KYC processes. The discussion also emphasizes the importance of finding a partner, not just a provider, for international payments.

Dan Goodwin shares valuable insights and tips amassed over more than a decade of experience in the non-profit international payments sphere. This is for all International NGOs and Charities, and any non-profit that makes payments globally.

KEY TAKEAWAYS

Negotiating with payment partners is essential for non-profits to find win-win solutions.

Navigating banking regulations requires leaning on partners or banks for guidance.

Understanding KYC processes and compliance is crucial for successful international money transfers.

Finding a partner, not just a provider, is key for effective international payments for non-profits.

BEST MOMENTS

"… people just assume that because they can send money to each other on an app, that it's actually dead easy to move money, regardless of where you are around the world."

"Don't be afraid to negotiate. If you need a partner and, you know, if you've got a money service business, you're prepared to be a partner rather than a provider."

EPISODE RESOURCES

Connect with Dan https://www.linkedin.com/in/daniel-goodwin-3248a6103/

BOND: https://www.bond.org.uk/

Charity Finance Group: https://www.cfg.org.uk/about

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

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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, Aishat speaks with Helen Armstrong, a Fellow of the Institute of Certified Bookkeepers (the largest bookkeeping institute in the world) - ICB. Helen “The Boss Bookkeeper” runs Priority Business Services, winner of ICB’s 2023 Small Practice of the Year . We discuss the intersection of faith and finance within nonprofit organizations, particularly churches. Helen shares her journey from finding faith at 17 to becoming an expert in managing church finances. She emphasizes the unique challenges and responsibilities that come with serving faith-based communities.

KEY TAKEAWAYS

• Bookkeeping for churches and nonprofits follows the same principles as other organizations, but there are specific terminology and reporting requirements.

• Volunteers managing church finances should be equipped with the necessary financial skills and supported with policies and procedures.

• Confidentiality and trust are vital when handling donor information in churches and nonprofit organizations.

• Understanding the dreams and visions of church leadership is crucial as they impact finances.

• A bookkeeper plays a valuable role in maintaining proper records and providing timely reports, complementing the work of an accountant.

BEST MOMENTS

“Nothing in God’s economy is wasted.”

“It’s about stepping out in faith not stupidity.”

“The church exists for those who are not already its members.”

“… and firmly believe that God provides our needs, , as opposed to God providing our wants.”

“Money is a taboo subject. And you see that in the church, which is quite bizarre, really, because Jesus talked about money an awful lot.”

EPISODE RESOURCES

Resources for navigating financial governance:

https://www.gov.uk/government/organisations/charity-commission

https://www.acat.uk.com/

https://www.honorarytreasurers.org.uk/

Connect with Helen (Guest): https://www.linkedin.com/in/helentarmstrong/

ABOUT YOUR HOST

Aishat operates her own practice – BAnC Services which focuses primarily on serving nonprofits. Before founding her practice, she dedicated over two decades to the nonprofit sector. Beyond her professional endeavors with nonprofits, 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

Aishat’s LinkedIn: https://www.linkedin.com/in/aishat-idris/

CONNECT

https://www.instagram.com/npbookkeeper/

https://www.tiktok.com/@npbookkeeper?lang=en

In this episode, I speak to Sarah Broad, the COO of NPC, a charity think tank. We discuss the dynamic role of a charity COO, the challenges of juggling multiple responsibilities and the need for a strong support network. We also delve into importance of the CEO- COO relationship and Sarah emphasizes the value of attitude and constant learning in finance roles and offers tips for acknowledging the work of support teams.

KEY TAKEAWAYS

• Building a strong support network is essential for COOs, including peers in similar roles and professionals from different backgrounds.
• The relationship between the CEO and COO is crucial for the success of a charity, with open communication and complementary skills.
• Qualifications and experience are both important in finance roles, but attitude and a willingness to learn are the most valuable qualities.
• Acknowledging the work of support teams is essential, and success can be measured by what is not being talked about.

BEST MOMENTS

“… the measure of success in an operations team is what people are not talking about...”

“… having the right attitude to think about how you apply your learning on a day-to-day basis. It is what's really valuable.”.

“…having an external network is absolutely critical …”

EPISODE RESOURCES

Find out more about NPC https://www.thinknpc.org/about-npc/

Connect with Sarah https://www.linkedin.com/in/sarah-broad-887b09b/

Charity Finance Group: https://cfg.org.uk/

ACEVO: https://www.acevo.org.uk/

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, I speak to Leo Skyner, CFO of Oxfam International and we discusses his transition to the charity sector and his motivation for remaining in the sector.

Leo also talks about his roles as a trustee and co-founder of a community interest company (C.I.C.) and shares insights on the evolving role of finance in the charity sector and the challenges of stakeholder management. He highlights the significant changes in the funding landscape and the ongoing conversation about decolonization in global aid and development.

We talk about Leo’s C.I.C., Out for Cricket - a CIC that focuses on LGBTQ+ inclusion in cricket, the reason for the structure chosen (C.I.C. not charity), and their biggest challenge.

Listen to the episode to hear the advice Leo has for C.I.C. founders and those starting a career in the charity sector.

KEY TAKEAWAYS

• The role of finance in the charity sector has evolved to be seen as a partner and enabler rather than just a support service.
• The conversation about decolonization in global aid and development is a significant and ongoing topic.
• Distilling key messages and focusing on the most important issues is crucial in finance presentations.

BEST MOMENTS

"… there's a difference between trustees and management. Trustees should be on the balcony and the management should be on the dance floor.."

"There's always a five-minute answer. There's a five-hour answer. There's a five-week answer. And you need to work out which of the answers you think is worth giving."

"There's less money in the system and greater conditionality on what you can do with it."

EPISODE RESOURCES

Connect with Leo https://www.linkedin.com/in/leo-skyner-29116ba2/

Out4Cricket https://out4cricket.org.uk/about-ushttps://shelterbox.org/about//

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

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In this episode, we tackle an important yet often misunderstood topic: How can directors of social enterprises be paid legally and ethically? Aishat breaks down the key legal guidelines governing director payments, discusses best practices for handling both directorial salaries and payments for additional services, and explores how to manage potential conflicts of interest. Whether you’re a CIC director, founder, or part of a social enterprise team, this episode will give you the insights you need to stay compliant while maintaining transparency and fairness.

KEY TAKEAWAYS

• Directorial Duties vs. Additional Services: Learn the difference between being paid for directorial duties (via salary) and invoicing for separate services you provide outside your director role.
• Legal Guidelines: We’ll walk through the essential requirements under the Companies Act 2006, including the use of PAYE for salary payments and the need for board approval when invoicing the company.
• Managing Conflicts of Interest: Discover how to handle payments for services without crossing ethical lines, ensuring that your board makes the final decisions on director remuneration.
• Best Practices for Transparency: Tips on disclosing director payments in your annual reports to build trust with stakeholders and ensure compliance.

EPISODE RESOURCES

Guidance on CIC Remuneration: https://www.gov.uk/government/publications/community-interest-companies-how-to-form-a-cic/community-interest-companies-guidance-chapters#things-to-consider

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

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IIn the first episode of our business anniversary series, we shine a light on Allia Impact. Two years after completing their program, BAnC Services is still reaping the benefits

I speak to Marina Pritchard, Program Manager at Allia Impact about their work supporting social enterprises and charities. Marina describes Allia‘s work supporting individuals and groups looking to start or grow their own impact organizations. She also talks about Allia’s focus on providing free support and coaching to social entrepreneurs at different stages of their journey. Marina highlights the importance of collaboration, compassion, and resilience in the social impact space and the value of building connections with like-minded organizations.

Listen to this episode to hear about an Allia program could be of value to you.

KEY TAKEAWAYS

• Compassion and understanding are important qualities for social impact leaders.
• Acting with kindness and making people feel valued is essential, as people won't forget how you made them feel.
• Every person you meet is an opportunity to grow and learn.
• Confidence and self-belief are key challenges for social entrepreneurs, and having a support network is crucial.
• Diversifying revenue streams and finding alternative ways of generating funds are important for the sustainability of social enterprises.

BEST MOMENTS

"Every person you meet is an opportunity to grow and learn."

"Collaboration over competition."

"Act with kindness and understanding, as people won't forget how you made them feel."

EPISODE RESOURCES

Connect with Marina: https://www.linkedin.com/in/marina-pritchard/

Find out about Allia's programs: https://futurebusinesscentre.co.uk/our-programmes/

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

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In this episode, I cover the basics of Value Added Tax (VAT) as it applies to the charity sector, outlining key elements and setting the stage for the next episode, where I'll be joined by a charity VAT specialist.

KEY TAKEAWAYS

Charities may need to register for VAT if their taxable income exceeds the VAT registration threshold, and they can choose to register voluntarily.

Seek advice when it comes to VAT, as any errors can have significant financial implications.

BEST MOMENTS

"If the charity makes a lot of vertical purchases, registering enables the charity to reclaim VAT that's been paid, which means more money to spend on the charity's mission instead of paying it out as tax."

EPISODE RESOURCE

https://www.gov.uk/vat-charities

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

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In this concise finance focused episode, Aishat Idris picks up things from where she left them in episode 19 and talks about budgeting tips and common budgeting mistakes to avoid. She emphasizes the use of technology, prioritizing spending, involving the whole team, and reviewing the budget periodically.

Aishat rounds the discussion up with a reminder of the key discussion points.

Tune in, to complete the insights from episode 19.

KEY TAKEAWAYS

• Use technology to automate budgeting processes.
• Prioritize spending on essential program-related activities.
• Involve the whole team in budget creation.
• Review the budget periodically to identify variances.
• Pay attention to cash flow and plan for potential shortages.

BEST MOMENTS

" … cash flow is equally as important, if not more..."

" … make sure all spending is tracked, irrespective of how small it is…"

EPISODE RESOURCES

Episode 19

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

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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

1. Storytelling is crucial in fundraising, and organizations should lead with the value they provide.
2. Balancing financial management and marketing is essential for the survival and growth of a business.
3. Non-profit leaders should prioritize a long-term strategy and ensure everyone in the organization understands and works towards the mission.
4. 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, Aishat discusses the critical need for social enterprises to diversify their funding sources beyond grant reliance. She explores various alternative revenue streams, including earned income, membership models, crowdfunding, and corporate partnerships, emphasizing the importance of financial stability and growth through diversification.

KEY TAKEAWAYS

• Relying solely on grants can lead to financial instability.
• Diversification allows for growth and innovation.
• Multiple revenue streams safeguard financial futures.
• Exploring diverse funding options is essential for sustainability.

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

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TikTok

In this conversation, Obi Ofokansi shares his professional background and experiences in the nonprofit sector, including international development, human rights, and emergency disaster relief.

Our discussion touches on several topical issues in the sector from localisation agenda/decolonisation of finance in nonprofits to automation to AI and to finding the right balance between programme delivery teams, impact and supporting/enabling teams and integrating the finance and programme delivery teams.

Obi also touches on unique findings from internal audits, including instances of inappropriate use of donor funds and explores the importance of internal audit functions and the challenges of expense management in nonprofit organizations.

Listen to our perspectives on whether it is the end of the International NGO/Nonprofit sector as we know it.

Obi shares his favourite finance tool … listen to the full episode to find out what it is!

KEY TAKEAWAYS

Challenges in the nonprofit sector include financial sustainability, project management, and balancing program delivery with support functions.

A holistic strategy that integrates finance into program planning and decision-making is essential for organizational success.

Having local expertise is essential for navigating complex financial regulations in different countries.

The concept of decolonization of finance involves shifting decision-making power to local partners and country offices.

BEST MOMENTS

"… you and I know that most people do not look at the details, especially when they are at a senior level, what they do is expenses come and they just say fine and they sign it….”

… I don't think the finance function will ever become redundant even with the advent of AI, at least not completely…”

EPISODE RESOURCES

Connect with Obi https://www.linkedin.com/in/obi-ofokansi-5645a215/

Obi's previous appearance The Nonprofit Bookkeeper: Flipping the Script: Introducing your Host on Apple Podcasts

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

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TikTok

In this episode, we delve into the world of CICs with Fiona Sanders, Co - Director of Miss S, a seasoned expert in CIC accounting. Despite navigating her own health challenges, Fiona's passion for socially conscious finance shines through as she offers invaluable advice for those operating within or considering starting a CIC.

KEY TAKEAWAYS

• CICs are intended to trade and generate income, while charities rely more on grants and donations.
• When applying for grants, read the questions carefully and answer them directly, and make sure to include all necessary costs in the budget
• Engaging bid writers may not always lead to success, as a personal approach is often needed for smaller organizations

BEST MOMENTS

“… If they're looking to make money themselves, then a CIC is not the right entity for them. They should be looking at a regular limited company....”

“… CICs are really a halfway house between a commercial limited organization, limited company and a charity,”

EPISODE RESOURCES

Find out more about MISSS https://misss.co.uk/

Join the CIC hub https://www.facebook.com/groups/562645194719543

Connect with Fiona: https://www.linkedin.com/in/fiona-sanderson-misss/

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

Instagram

TikTok

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

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In this episode, your host, Aishat discusses the differences between cash accounting and accrual accounting in non-profit financial management. The benefits and drawbacks of each method are explored and she concludes with three things to consider when deciding on which is appropriate for the non-profit

KEY TAKEAWAYS

• Cash accounting records income and expenses based on the exchange of cash,
• accrual accounting records them based on entitlement and incurring of expenses.
• Accrual accounting provides a more holistic financial picture.

BEST MOMENTS

“… One records transactions on exchange of cash and the other records transaction on entitlement and….”

“… the larger and more established non-profits will benefit from the holistic view provided by accrual accounting.”

EPISODE RESOURCES

Charity reporting and accounting: the essentials November 2016 - GOV.UK (www.gov.uk)

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

Joining me on this episode is Ross Palmer, of Sayer Vincent LLP. Ross. a tax advisor to charities and not-for-profits shares his professional journey from audit to tax advisory.

We delve into value added tax (VAT) and Ross provides clear explanations of various VAT considerations including reverse charge VAT and partial VAT recovery. He also talks about the gift-aid relief scheme, business rates and stamp duty.

Ross provides responses to some VAT scenario-based questions.

This episode is a lesson in nonprofit VAT, so be sure to listen to the full episode.

KEY TAKEAWAYS

• Understanding the specific needs and compliance issues faced by nonprofits is crucial in tax advisory work.
• Reverse charge VAT is a complex area that arises when buying services from overseas suppliers.
• VAT recovery for nonprofits requires careful apportionment and understanding of exempt and taxable activities.
• Expanding trading activities requires careful consideration of VAT planning strategies, such as forming a subsidiary or opting for VAT grouping.
• Charities often miss out on claiming VAT relief for advertising and maximizing gift aid income.
• Tax is complex, but seeking professional advice and staying compliant is crucial for charities.

BEST MOMENTS

“… it's a self-assessed tax, but ultimately If HMRC query it, you have to be able to justify what you do, and words aren't enough,…”

" tax is complicated. But it doesn't need to be scary.."

EPISODE RESOURCES

Connect with Ross: https://www.linkedin.com/in/ross-palmer-sv/

Nonprofit Accounting, Audit, Tax and Resources: https://www.sayervincent.co.uk/

HMRC Charity tax resource: https://www.gov.uk/charities-and-tax

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

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In this episode, the host, Aishat speaks about BAnC Services the bookkeeping and accounting practice she founded.

As BAnC Services celebrates its third anniversary, she reflects on its journey, talks about plans for the future, for The Nonprofit Bookkeeper and for BAnC Services.

Aishat also expresses gratitude to clients, mentors, and supporters who have been instrumental in the practice's growth.

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

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In this episode of the week long anniversary series, Aishat shares three key lessons she has learned over the three years of running BAnC Services, a bookkeeping and accounting practice that works predominantly with nonprofits and individual.

She concludes the series with this episode by sharing three quotes that capture the essence of of BAnCServices' journey.

KEY TAKEAWAYS

• Persistence and consistency are crucial in reaching goals.
• Building a trusted community and giving back yield valuable results.
• Marketing and visibility are essential for growth and sustainability.
• People buy from people they know like and trust
• The results of marketing initiatives is not instant

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

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In this episode of the Nonprofit Bookkeeper, host Aishat discusses the implications of trustee payments in light of the disqualification of Naomi Campbell and Bianca Helmick from being charity trustees or holding senior management positions in a charity for a combined period of 14 years. The conversation delves into the legal framework surrounding trustee payments, the findings of the Charity Commission's investigation, and the governance failures that led to a finding by the inquiry of significant financial mismanagement. Aishat emphasizes the importance of transparency, accountability, and adherence to charity regulations, providing valuable lessons for nonprofit leaders to prevent similar issues in their organizations.

KEY TAKEAWAYS

• Trustee payments must align with the charity's governing documents.
• Documentation of expenses is crucial for accountability.
• Charity trusteeship comes with serious legal responsibilities.

EPISODE RESOURCES

Charity Inquiry: Fashion for Relief - GOV.UK (www.gov.uk)

'I was not in control': Naomi Campbell defends her role after she was banned from being charity trustee | Ents & Arts News | Sky News

Naomi Campbell orders a new investigation into her charity after trustee ban | ITV News

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

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Check out ExpensePlus and sign up for a month's free trial and 10% off your first year's subscription, using my referral link http://expenseplus.co.uk/r/AI-BANC

In this insightful guest episode Aishat sits down with Sam, Founder and Director at ExpensePlus, an accounting software created specifically for charities and churches. Sam brings extensive expertise in charity financial management, highlighting common pitfalls and providing practical strategies to avoid them.

They discuss the importance of effective financial management in charities. They explore common pitfalls such as inadequate budgeting, clunky financial processes, and the failure to utilize financial reports.

Sam shares practical tips for improving financial management and introduces ExpensePlus as a solution for charities looking to streamline their financial processes.

KEY TAKEAWAYS

• Budgets should not only exist but also align closely with your charity’s goals and vision.
• Effective budget management requires engaging the entire team and providing them with timely and clear financial reports..
• Paper-based financial systems often lead to inefficiency, higher costs, and greater risks; digital solutions can dramatically improve these processes.
• Simplifying financial reports can enhance engagement and understanding.
• Clear, simple financial reporting that decision-makers can easily access encourages better financial decisions and enhances accountability.

BEST MOMENTS

"… when budgeting is really important to step back and look at whether the charity's expenditure and the proposed budget aligns with the vision and goals,…"

"... helping your budget holders kind of come alongside and, realize what the priorities are will motivate them."

"... every charity should be on software now 'cause it helps to streamline your process and better saves time."

EPISODE RESOURCES

Connect with Sam: https://www.linkedin.com/in/sam-lewis-280710130/

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

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In this episode of the Nonprofit Bookkeeper, Aishat discusses the complexities surrounding payments to trustees in UK charities. She explains the legal framework that allows for such payments under certain conditions, the importance of transparency, and the potential risks involved. The conversation also covers reimbursements for expenses and the need for careful documentation and justification when considering salaries for trustees. Aishat emphasizes the importance of aligning decisions with the charity's mission and maintaining integrity within the organization.

KEY TAKEAWAYS

• Trustees are responsible for overseeing a charity's operations.
• Payments to trustees are allowed under specific regulations.
• Charities must document agreements and ensure market rate compliance.
• Transparency is crucial when discussing trustee compensation.
• Consent from the Charity Commission is necessary if payments are not allowed by the constitution.
• Potential conflicts of interest must be managed carefully.

EPISODE RESOURCES

Rules on paying trustees: Payments to charity trustees: what the rules are - GOV.UK (www.gov.uk)

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

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In this episode, Aishat highlights signs that indicate it's time to hire a bookkeeper! such a

She shares some of the work a bookkeeper can help with, including financial management, tracking restricted funds, and ensuring compliance with tax regulations.

Aishat also emphasizes the need for a bookkeeper who understands the unique needs of nonprofits and can communicate clearly.

She recommends BAnC Services as a partner for nonprofit bookkeeping.

KEY TAKEAWAYS

• Balancing financial management and marketing is key to nonprofit success.
• Signs that it's time to hire a bookkeeper include a growing paperwork load and receiving multiple grants.
• A bookkeeper can help with financial management, tracking restricted funds, and ensuring compliance with tax regulations.
• Look for a bookkeeper who understands the unique needs of nonprofits and can communicate clearly.

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

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Louise Roe, a seasoned Fundraising professional, shares insights on grant funding and establishing credibility with potential donors. She emphasizes the importance of research when applying for grants and matching values with funders.

Lou shares strategies for cultivating long-term relationships with foundations, leveraging in-kind donations, identifying foundations whose missions align with a non-profit's, and negotiating grant terms. She provides valuable strategies for navigating the challenges of fundraising in the non-profit sector. In this part of the conversation,

We tak about the hidden work involved in fundraising and the need to cover overhead costs.

Lou shares immediately implementable fundraising tips.

KEY TAKEAWAYS

Research funders and match values to increase the chances of securing grant funding.

Clear and simple language is crucial in grant proposals.

Researching foundations and looking at similar charities that have been funded can help identify foundations whose missions align with a non-profit's.

Negotiating grant terms is possible, especially when there are changes or challenges that need to be addressed.

Match your grant applications to the interests of the funders and be clear in your proposals.

BEST MOMENTS

"Make sure you fit what funders are looking for."

"Building relationships and networking are key strategies"

"Passion and storytelling are important elements"

"Researching foundations and looking at similar charities"

"Research successful applications"

"Matching interests, clear proposals"

EPISODE RESOURCES

Connect with Lou: https://www.linkedin.com/in/louise-roe-9440851a4/

Nene Park Gardens: https://www.nenepark.org.uk/

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

Instagram

TikTok