Total Software Solution for Nonprofits
Not-for-Profit Organizations must follow strict accounting guidelines. Trying to shoe-horn the functionality of an off-the-self commercial accounting package, such as QuickBooks for Nonprofits, can be risky. There is no one-size fits all when it comes to nonprofit...
The main difference between for-profit and nonprofit 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 for nonprofits must track revenue and expenses to demonstrate accountability and compliance. Let’s take a deep dive into the advantages of fund accounting software. A compliant fund accounting software system tracks revenue...
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 revenue and expenses, demonstrating accountability to funding sources. Understanding nonprofit fund accounting ensures proper stewardship of funds. Let’s take a deep dive into what is fund accounting. What is fund accounting? Fund...
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...