Total Software Solution for Nonprofits
The statement of the nonprofit financial position report provides an overview of what an organization is worth and a birds eye view of the health of the organization. Net assets, presented in the nonprofit Statement of Financial Position report, reveal total revenue,...
Nonprofit accounting is the process of recording, managing, and preparing compliant financial statements for 501(c)(3) organizations. This includes everything from tracking income and expenses to tax returns to generating financial reports necessary for maintaining...
Donor stewardship involves fundraising, tracking donations, managing expectations, communicating with donors, and setting up systems to track results. What is donor stewardship? Donor stewardship is a system that helps organizations manage and steward donor...
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...
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...
IRS Form 990 must be filed by nonprofits disclosing annual financial information but understanding instructions and requirements can be daunting. This guide breaks down who, what and when to file. 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, demonstrating accountability rather than profits to funding sources. Let’s take a deep dive into the basics of fund accounting and why nonprofits need to understand it. Basics of Fund Accounting This type of...