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Functional Accounting

Jan 23 2023

IRS Form 990: Instructions and Requirements for Filing Correctly

Most nonprofits are required to file IRS Form 990, which can be a daunting task. There are many instructions and requirements that must be followed in order to correctly file the form. If you don’t follow the instructions and requirements for filing IRS Form 990, your nonprofit could face penalties.

This guide provides a step-by-step instructions on how to correctly file IRS Form 990 for your nonprofit organization.

[Read more…] about IRS Form 990: Instructions and Requirements for Filing Correctly

Written by Joseph Scarano · Categorized: Accounting for Nonprofits, Nonprofit Fund Accounting · Tagged: Accounting Software for Nonprofits, Functional Accounting, IRS Form 990, Nonprofit Accounting, Nonprofit Accounting Software, Nonprofit Audit, Nonprofit Stewardship

Nov 15 2022

Statement of Activities: How to Read This Key Nonprofit Financial Report

The statement of activities report shows nonprofits how much money they have and how it is being used. This guide teaches the basics of reading and understanding a nonprofit Statement of Activities. It also helps predict your organization’s financial future.

Nonprofit organizations rely heavily on financial reports to make informed decisions about their operations. But often times, these reports are difficult to read and understand.

[Read more…] about Statement of Activities: How to Read This Key Nonprofit Financial Report

Written by Joseph Scarano · Categorized: Accounting for Nonprofits · Tagged: Accounting Software for Nonprofits, Charitable Contributions, Charitable Gifts, Functional Accounting, Nonprofit Accounting, Nonprofit Accounting Software, Nonprofit Financial Statements, Nonprofit Fund Accounting Software

Aug 26 2021

8 Reasons Why Financials for Nonprofits Are More Difficult than For-Profits

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.

[Read more…] about 8 Reasons Why Financials for Nonprofits Are More Difficult than For-Profits

Written by admin · Categorized: Nonprofit Fund Accounting · Tagged: Functional Accounting, Nonprofit Accounting, Nonprofit Accounting Software, Nonprofit Financial Statements

May 17 2021

Nonprofit Cash Flow Forecasts: How To Avoid Deficits

Nonprofit cash flow forecasts predict when revenue comes in and when revenue goes out. It is an excellent tool to avoid cash shortfalls. By pinpointing deficits during a 12-month period, your nonprofit can avoid a crisis before it becomes a major problem.

How To Achieve Steady Nonprofit Cash Flow - araize.com
[Read more…] about Nonprofit Cash Flow Forecasts: How To Avoid Deficits

Written by Joseph Scarano · Categorized: Accounting for Nonprofits · Tagged: Accounting Software for Nonprofits, cash flow, Direct Cost Allocations, Functional Accounting, Nonprofit Accounting, nonprofit cash flow, Nonprofit Financial Statements, Nonprofit Sustainability

Feb 23 2021

Criteria for Hiring a Skilled Nonprofit Accountant

Hiring a nonprofit accountant is critical to a nonprofit’s success in fulfilling its mission. Selecting an accountant with the proper skills and understanding can be a daunting task. Before you hire your next nonprofit accountant, be sure they have the knowledge to ensure compliance and accountability.

[Read more…] about Criteria for Hiring a Skilled Nonprofit Accountant

Written by Joseph Scarano · Categorized: Accounting for Nonprofits · Tagged: Accounting Software for Nonprofits, Functional Accounting, Fund Accounting, Nonprofit Accountant, Nonprofit Accounting

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