Nonprofit Accounting & Bookkeeping Services

Our accounting firm provides a wide range of financial services tailored to meet your specific nonprofit needs. From bookkeeping to financial consulting, we are dedicated to helping you achieve your business goals. At 501c3 Bookkeeping, we specialize in providing nonprofit accounting services for small businesses and startups. Our team has extensive experience working with entrepreneurs and helping them navigate the financial challenges of starting a business. Along with our not-for-profit audit and non-profit accounting expertise, our experienced team of non-profit accounting experts hold leadership positions in not-for-profit organizations. With this firsthand understanding, our not-for-profit accountants offer unique insights and real experience managing successful organizations.

Nonprofit Accounting and Bookkeeping Services

We can also help analyze and fill knowledge gaps between your leadership and immediate successors, and provide coaching to these individuals throughout the transition. Human resources laws and trends are constantly changing, making it a challenge to keep a compliant and productive workplace. And with a pressing need for the services you provide, you face an increasing need for qualified employees. From supporting families in need to leading trade associations and educational institutions, the work you do makes a difference in your community. Your mission matters and it suffers when limited resources and focus are diverted.

Nonprofit Accounting Services:

Our team gathers and organizes financial data to accurately complete the form, reducing the risk of penalties and ensuring that your organization remains in good standing with the IRS. Restricted https://greatercollinwood.org/main-benefits-of-accounting-services-for-nonprofit-organizations/ funds are contributions that must be used for particular purposes as designated by the donor, while unrestricted funds can be used at the nonprofit’s discretion. Tracking these funds separately ensures proper compliance with donor intentions, improving transparency and accountability for nonprofit organizations. Indinero offers comprehensive online bookkeeping services tailored for nonprofits. Their approach focuses on detailed record-keeping, streamlined reporting, and real-time financial data access. Jitasa is a bookkeeping and accounting firm for nonprofits, churches, and congregations.

Audit Assistance

Current integrations include QuickBooks Online, Bill.com, Gusto, Ramp, Stripe, Square, Donor Box, Expensify, GiveButter, Network for Good, and more. You get the expertise of a seasoned CFO—plus a support team—for a fraction of the salary and overhead of an in-house executive. At The Charity CFO, we’re not just here to reconcile your books—we’re here to elevate your thinking. After working with hundreds of nonprofits nationwide, we’ve seen what separates the organizations that thrive from the ones that just get by. We’ve studied their systems, their strategies, and their blind spots—and we built a 30-point framework to reflect what actually works.

We can also help you find and retain qualified personnel so you can serve your community. From a one-time consult to a consistent HR presence, we have a solution for every nonprofit. Nearly all transactions have alternate tax consequences, and constant changes in tax laws require your situation to be monitored throughout the year. Whether you need to complement your existing financial staff or outsource your accounting completely, our nonprofit CPAs can provide a customized accounting solution that suits your needs.

Our nonprofit bookkeeping services leverage cloud-based accounting software like QuickBooks, Xero, and Sage Intacct to provide seamless bookkeeping and accounting services for nonprofit organizations. These platforms allow for real-time data access, improved collaboration, The Key Benefits of Accounting Services for Nonprofit Organizations and secure storage of financial information. We handle Form 990 filings, maintain compliance with IRS tax-exempt status requirements, FASB standards, and and ensure adherence to GAAP. Our team ensures your nonprofit’s financial statements meet the necessary standards, making the audit process smoother and reducing the risk of compliance issues. We have the right experience and expertise to manage nonprofit bookkeeping and accounting services. I handle managing multiple funding sources, properly categorizing temporarily restricted funds and permanently restricted funds, maintaining comprehensive donor records, and preparing accurate financial statements.

• BooksTime specializes in bookkeeping, fund accounting, and reporting for grants and trusts.
• As a member, we have access to comprehensive resources that assist us in further enhancing the quality of our nonprofit audits.
• Our professional process will set your organization up for success in all of your financial management and accounting activities.
• As a CPA firm specializing in nonprofits, we’ll put our extensive knowledge to work for you so you can create a solid plan for your organization’s future.
• Our specialized accounting and bookkeeping services for nonprofit organizations are designed to ensure compliance with all relevant regulations, including GAAP standards and IRS requirements.
• Please speak to your accountant or adviser for more information about capital gains and their effect on tax-exempt organizations.

Essentially, you should view bookkeeping as the financial oversight process that’s necessary for operating your nonprofit daily. For example, bookkeeping ensures your nonprofit uses its revenue wisely and maintains its tax-exempt status. Accounting, on the other hand, is using that information to provide a detailed analysis of your finances. This statement provides a snapshot of a nonprofit’s assets, liabilities, and net assets at a given point in time.

Nonprofit Bookkeeping & Accounting

We maintain your financial information in accordance with Generally Accepted Accounting Principles (GAAP), as well as the needs of auditors, grantors, and the board of directors. These varied requirements present challenges that only experience can overcome, and our experience has earned us a reputation of excellence and dependability in the nonprofit accounting industry. One of the most valuable aspects of my nonprofit bookkeeping services is creating and maintaining a comprehensive donor database within QuickBooks Online. This system goes far beyond basic donation tracking to provide powerful insights that support your fundraising efforts and donor stewardship. Struggling to complete grant applications due to disorganized financial information severely limits your growth potential.

• If your nonprofit is looking to hire a fractional CFO, our J-SAT professionals are equipped to help you work through your toughest financial challenges, from forecasting cash flows to creating complex budgets.
• We use technology to leverage our extensive accounting into clear processes and deliverables.
• Form 990 includes a nonprofit’s figures for revenue, expenses, assets, and liabilities.
• Nonprofit finances aren’t like everyone else’s—and you shouldn’t settle for services that treat them like they are.
• These reports provide the financial transparency needed for effective governance and stakeholder communication.
• The donor database integrates seamlessly with your fund accounting system, automatically tracking restricted and unrestricted gifts while maintaining proper documentation for donor acknowledgments and tax receipts.

These can cover programs like short- and long-term disability, workers’ compensation, paid medical or family leave and more. For FICA tax (as well as federal income tax), you must complete and file Form 941, Employer’s Quarterly Federal Tax Return. This form is due by the last day of the month following the end of each quarter, although some employers might be considered annual filers. One of the first decisions you’ll need to make is choosing between cash basis accounting and accrual accounting methods. Both approaches will keep your books balanced, but they each have distinct advantages depending on your organization’s size and complexity. With our service packages, you can focus on your mission while we handle your financials with precision and expertise.

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