by wadminw on March 09, 2023
Our proposal will break down the costs per service and we try to offer options to meet every budget. Our basic full-service bookkeeping package typically starts at $299/month. Get our FREE guide to nonprofit financial reports, featuring illustrations, annotations, and insights to help you better understand your organization’s finances.
Many accounting software programs allow you to generate financial statements automatically, such as a statement of financial position. This reduces the possibility of errors and guarantees reliability and accuracy. Of course, you can always generate financial statements manually, but this takes a lot of time and skill. Nonprofit accounting and bookkeeping revolve around representing an organization’s financial records in compliance with generally accepted accounting principles (GAAP). These services can ensure that your organization is reporting accurate information to the Internal Revenue Service. They can also ensure that your institution is in a state of financial health.
They can even comb through documents that appear to be backdated or have questionable signatures. These can be indicators that something fishy is going on at the organization. No one wants to talk about the possibility of fraud, but it can happen within the nonprofit world. https://www.bookstime.com/ Embezzlement is also a risk, especially with multiple employees in the finance department. If there aren’t checks and balances in place, tracing money can be difficult. This means you’ll always get continuous service, no matter how complex or minor your accounting needs are.
With an outsourced consultant, you receive a higher level of service from a qualified team at a lower price-point than hiring an in-house accountant. Your message has been received and we’ll be reviewing your request shortly. In the meantime, schedule a meeting with us and we’ll be in touch soon. And we’ll even help you understand the story behind the numbers, accounting services for nonprofit organizations so you’re never left speechless in front of your finance committee. He is registered with the IRS as an Enrolled Agent and specializes in 501(c)(3) and other tax exemption issues.
When you let us handle your nonprofit’s bookkeeping needs, you will be paired with one of our staff bookkeepers whose expertise is best matched to your needs. We’ll implement new technology and processes to modernize your bookkeeping and improve transparency. That helps us ensure your transactions are entered accurately and on contribution margin time to give you confidence in your decisions. It’s also important to recognize that bookkeeping is not a part-time job. Adding this responsibility to an existing staff member’s to-do list will likely overwhelm your employees, and your books won’t get the undivided attention they need. That’s why your first step in the bookkeeping process should be finding a bookkeeper (and evaluating your outsourcing options).