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
How can financial leadership for nonprofits improve their financial management skills and build a solid foundation? Improving their skills in the areas of budgeting, forecasting, cash management, and finance lays the foundation for fulfilling a nonprofit’s mission.[Read more…] about Financial Leadership For Nonprofits: How To Build A Solid Foundation
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 accounting software.[Read more…] about Quickbooks for Nonprofits: Does It Do Fund Accounting?
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.[Read more…] about Advantages of Fund Accounting Software for Nonprofits
The nonprofit treasurer duties include overseeing the organization’s finances and making sure that there are enough funds to pay all expenses, as well as looking into ways to raise more money.[Read more…] about Nonprofit Treasurer Duties: Guide to Finding the Right Person