Total Software Solution for Nonprofits
Quickbooks for Nonprofits does not follow nonprofit fund accounting guidelines, which can pose compliance risks for nonprofits. Not-for-Profit Organizations must follow strict accounting guidelines. There is no one-size fits all when it comes to nonprofit fund...
The main difference between nonprofit vs for profit accounting is that for-profit businesses operate under the principles of profit and loss, while nonprofits operate under the principles of social welfare. What are the differences between nonprofit vs...
Proper nonprofit audit preparation builds donor trust, financial transparency and accountability. This guide steps you through preparation, requirements and standards. Table of contentsWhat is a nonprofit audit?What is the purpose of a nonprofit audit?Who...
Nonprofits are required by the IRS to file an annual financial information return called the Form 990. This guide provides form 990 filing instructions by breaking down the who, what and why. What is the IRS Form 990? Form 990 is a tax form that any nonprofit...
True fund accounting software tracks revenue to a designated purpose and prevents misuse of donations. Let’s take a deep dive into the key advantages of using nonprofit fund accounting software. If a nonprofit wants to be compliant with GAAP and FASB...
The proper setup up of the chart of accounts for nonprofits is the critical first step in getting started with your nonprofit fund accounting system. Learn how to segregate funds the easy way for tracking revenue and expenses. What Is the Chart of Accounts for...
Financials for nonprofits require an in-depth understanding of the sector as well as exposure to some of the challenges that make it so unique. As an accounting professional, you may have exposure to financials of a wide range of sectors, which helps fine tune your...
Fund accounting tracks nonprofit revenue and expenses, making certain funds are being used for its designated purpose. Let’s take a deep dive into the basics of nonprofit fund accounting and why nonprofits need it. Fund Accounting Basics Fund accounting tracks revenue...
Nonprofit financial transparency is essential, both legally and ethically, for building trust and accountability to funding sources. Nonprofits are required to publicly disclose current tax forms and financial information. But, nonprofit accountability goes beyond...
Nonprofits sometimes get caught up with donor restrictions imposed on donations and how to use these funds to pay expenses. What is the best way to pay expenses using donor restricted funds and remain compliant? How to Pay Expenses Using Donor Restricted Donations In...