Client Background 

The Assistance Fund (TAF) is a non-profit organization dedicated to providing financial assistance to patients who cannot fully cover their medical expenses through insurance. By leveraging various funding sources, TAF helps bridge the financial gap for individuals in need of essential treatments, medications, and medical procedures.

The Challenge

TAF needed an efficient and precise budgeting solution to manage salary calculations and overall financial planning. Their existing setup, which includes Accounting Seed, required complex budget formulas and accurate payroll forecasting. Managing salaries for employees working partial-year schedules added another layer of complexity. Additionally, TAF required a highly secure and structured reporting system to maintain confidentiality regarding salary information.

Solution 

We collaborated with the TAF’s finance team to implement CloudBudget and developed a highly accurate payroll forecasting system. Key components of this solution include:

• Automated Payroll Forecasting:
  • Custom formulas to account for part-time and seasonal employees
  • Data catalog to adjust salary projections dynamically based on employment periods
  • Embedded tax calculations to ensure compliance
• Department-Based Budget Structure:
  • Detailed salary allocations with role-based restrictions
  • Secure sharing rules ensuring department-level visibility while maintaining confidentiality
  • Automated reporting tailored for departmental budget analysis
• Advanced Budgeting & Reporting:
  • Calculation Rules integration to automate salary and tax projections
  • Departmental reports customized for better financial tracking and planning
  • Segregation of sensitive payroll data while maintaining overall budget transparency

Results 

TAF significantly improved the accuracy and efficiency of its payroll and budget planning by eliminating the need for manual tracking and ensuring that every payroll expense is correctly allocated in the budget. This has led to:

• Greater accuracy in payroll forecasting, reducing financial discrepancies
• Enhanced efficiency, eliminating manual calculations and adjustments
• Secure and structured reporting, ensuring data integrity and access control
• Streamlined budgeting process, allowing the financial team to focus on strategic financial management rather than manual data entry