Araize

Total Software Solution for Nonprofits

Fund Accounting

Does Quickbooks for Nonprofits Support Fund Accounting?

Are you a not-for-profit organization using Quickbooks for your accounting needs? While the software may seem convenient, it’s important to note that Quickbooks for Nonprofits does not necessarily follow nonprofit fund accounting guidelines. This can pose significant compliance risks for nonprofits that must adhere to strict accounting standards.

In this blog post, we’ll take a closer look at why using the wrong accounting software can be problematic for nonprofits and provide some tips on selecting the right nonprofit fund accounting software for your organization.

[Read more…] about Does Quickbooks for Nonprofits Support Fund Accounting?

What Is Fund Accounting for Nonprofits: Basics and Best Practices

Fund accounting for nonprofits 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.

[Read more…] about What Is Fund Accounting for Nonprofits: Basics and Best Practices

[Podcast] Ultimate Guide to Selecting the Perfect Accounting Software for Nonprofits

Choosing the right accounting software for nonprofits is important for the success of your organization. Some factors to consider include budget, accounting needs, user-friendliness, and integrations with other tools. When selecting nonprofit accounting software, compliance should be a top priority. Be sure the software you choose meets nonprofit requirements such as financial reporting standards, grant tracking, and donor management.

[Read more…] about [Podcast] Ultimate Guide to Selecting the Perfect Accounting Software for Nonprofits

Nonprofit Accounting: Best Practices for Preparing Financial Statements

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 tax exempt status.

[Read more…] about Nonprofit Accounting: Best Practices for Preparing Financial Statements