Nonprofit Bookkeeping & Accounting Services in the United States

For example, bookkeeping ensures your nonprofit uses its revenue wisely and maintains its tax-exempt status. Accounting, on the other hand, accounting is using that information to provide a detailed analysis of your finances. Your nonprofit has important work to do, but limited resources to do it with.

Record In-Kind Donations

Patrick provides hands-on accounting and financial support to numerous businesses; offering customized services — from high level, strategic support to handling day-to-day management. Patrick specializes in financial operations, strategy, budgeting and audit and tax support. A nonprofit’s statement of cash flow tracks a nonprofit organization’s cash and financial health.

Do nonprofits need accountants?

Your great attitude and extra effort is noticed in all that you do.

• Aplos is a robust accounting system that allows you to keep track of your grants, programs, and fundraising so you can give your board clarity on your finances.
• As mentioned, nonprofits have to follow strict rules to justify their financial position and fundraising expenses.
• It involves generally accepted accounting principles and other tasks all businesses employ when reporting finances, along with those specific to nonprofit organizations.
• Of course, you can always generate financial statements manually, but this takes a lot of time and skill.
• Since its inception, Abilene has always been a virtual, fully tech-forward firm – where innovation is the foundation for everything we do.
• When Jenn isn’t working, you can probably find her out at a music venue or a festival.

Custom Reporting

Preparing financial statements can be done automatically or manually. Depending on the size of your nonprofit organization and the number of transactions, it may be wise to do bank reconciliations once a month. That way, you’ll identify virtual accountant potential bank errors, help track cash flow, and prevent fraud. It goes without saying that you should never use your personal bank account for your nonprofit organization.

Best Practices of Nonprofit Accounting

As such, she began providing financial consulting services for a handful of human services abilene bookkeeping nonprofits in the Bay Area for more than a decade. Whether you decide to outsource both your bookkeeping and accounting services or just one, you can be confident that we’ll provide professional services designed to meet your nonprofit’s specific needs. These financial statements can provide helpful insight into your nonprofit’s financial health so that you can adjust accordingly and plan your next moves.