Best Practices for Your Nonprofit Audit
Are you stressed because you have an audit coming up? Don’t be! Audits need not be painful, IF you prepare for them. To help, here’s some of our best advice for making your next audit painless and using it to align your nonprofit’s financial practices with your mission.
Selecting the Right Auditor
Work with your board, especially …
Effectively Manage Your Nonprofit’s Grants
Grants are essential sources of revenue for most nonprofits. They’re critical for your mission, but carry with them a high burden of monitoring and accountability. Proper allocation, tracking, and reporting are essential to ensure your organization receives ongoing funding.
A lot of you out there are probably trying to manage this via spreadsheets, and maybe you’re able …
Nonprofit Spring Cleaning: 5 Programs and Services Headaches to “Clean Up” with Fund Accounting
If your nonprofit provides programs and services, chances are they’re more than a valued and central resource to the community – they’re a crucial source of revenue and core to fulfilling your mission.
Unfortunately, we know managing these programs and services can be complex on a daily basis for a variety of reasons. In our latest …
Three Best Practices to Optimize Your AP Process
It’s no secret technology is changing the way we do business. There are countless examples of this – just one being nonprofit accountants transforming accounts payable (AP) processes and saving time and trees with automation.
Holding on to paper may seem safe, but paper processes are the highest target for fraud, missed payments, and manual mistakes. …
New Year, New Rules: Tax Act Implications for Nonprofits
The long-awaited tax legislation, formally known as the Tax Cuts and Jobs Act, enacted December 22, 2017, is hailed as “sweeping” reform by some. While you may wish you could just “sweep” it under the rug and keep rolling, nevertheless, this is a new year and there are new rules.
Payroll Impact
Just as the Tax Relief …
2018 To-Do List for Nonprofit Finance Leaders
January is finally behind us. The stress of tax filings is over, and hopefully, our software has been updated for all the last-minute tax law changes. Take a breath and relax, you deserve it. Now you can start planning for all the changes in 2018.
Preparing for FASB
One of your primary tasks for 2018 is preparing …
Keep Up With Your Nonprofit Programs and Services
I know a lot of you out there run programs and services as a means of fulfilling your mission and generating revenue. Providing these services is your core, right? But, managing billing and collections can get complicated quickly and can impact your organization financially – not to mention, programs and services may be covered by …
Following Clues: Detecting, Preparing, and Protecting Your Nonprofit From Fraud
Do you know how to spot fraud before it occurs? Most nonprofit professionals think it can’t happen at their organization. So, unfortunately, when it does occur, they aren’t prepared and don’t know what to do in the aftermath.
It happens time and time again – from both internal or external sources. Someone notices a misappropriation of …
12 Days to Better Internal Controls
With the holiday season upon us, we are reminded just how much can be accomplished in 12 days (cue catchy 12 Days of Christmas holiday tune). There’s no better time than now to relook at your organization’s internal controls. We’ve broken up the daunting task of updating and maintaining proper internal controls into our own, …
Drowning in Year-End To-Dos?
I know there’s a lot you need to do at year end, closing the books, planning for next year – not to mention reviewing budgets, preparing for your audit, pulling together your annual report, and that’s just getting started! On top of it all, the holidays mean you have to contend with vacation and holiday …