Nonprofit Accounting & Bookkeeping Services

AccuFund is an excellent resource for nonprofits looking for a reliable financial management tool. As your nonprofit grows and steps out into more complicated financial projects, AccuFund lets you purchase tools that fit your organization’s needs. Nonprofit bookkeepers must create accurate invoices for vendor payments, retail sales if they have a store, membership subscriptions, tuition fees, and more. Invoices help nonprofits track funds and give donors proof of their gifts. When you start a nonprofit bank account, you’ll want to authorize someone as a signatory. This person can be your organization’s board president, treasurer, or bookkeeper.

Income Level

By hiring BryteBridge Nonprofit Solutions as your bookkeeper, we will have all your books ready and can complete your 990 Charity tax filings on your behalf. Otherwise, we will work directly with your CPA or accountant during tax season to ensure they have everything for your 990-tax filing. Once a year, you’ll send the required documents to an accountant to submit Form 990 to the IRS and provide tax documentation to staff.

• Nonprofit bookkeeping is one of the most crucial needs in an organization to maintain good financial health and transparency with supporters.
• However, there are several actions all nonprofits need to take to ensure data quality and reliability.
• Our dedicated and experienced team works with an array of nonprofits.
• Weekly meetings with an accountant should go over how to adhere to your budget goals and track fund accounting.
• We use the most up-to-date technologies and integrations internally as a team, and with our bookkeeping processes.
• Once your company decides to hire us, we charge a flat fee per month.

How to Hire a Nonprofit Bookkeeper

You have constant access to one-on-one consultations and unlimited support when questions arise. Nothing is static as a nonprofit and we are there to adjust and integrate processes as things change and grow. For example, a lawyer may review a contract for your nonprofit and refuse to charge a fee. Your message has been received and we’ll be reviewing your request shortly.

Common Needs of Nonprofits

The more transactions your nonprofit makes, the more often you should reconcile your bank statements. You might start by reconciling every time you receive a bank statement (usually once a month), then schedule additional time as the size and quantity of your transactions grow. Martin has streamlined our systems, guided us through four clean audits, managed payroll and bookkeeping duties with accuracy and integrity, and has been a tremendous value. He has assisted with budget creation, extensive grant reporting and consistently offers us sound advice on a wide range of financial matters. At the end of the month, you must reconcile revenue and expense reports with your bank account and keep your accounts and reports up to date. You can determine whether these are one-time or regular experiences and choose how to raise funds for different programs that don’t gain as much financial support.

The majority of our bookkeepers have a bachelor’s degree in accounting. They are also highly trained in the specifics of nonprofit bookkeeping. This is unusual for a bookkeeping company because bookkeeping does not require a degree or certification.

• They can also ensure that your institution is in a state of financial health.
• Most organizations look for bookkeeping software that covers the basics while also addressing individual needs.
• Keep reading to learn exactly how nonprofits can benefit from outsourcing bookkeeping.
• As mentioned, nonprofit organizations have tax-exempt status, meaning they don’t have to pay federal taxes to the IRS under Section 501.
• Regardless of your nonprofit size, there are several accounting software options available.
• After reading this, you might think that the role of a bookkeeper for a nonprofit setting is highly prized due to the complexity and enormity of details and responsibilities involved.
• Segregating financial duties among different individuals helps prevent fraud and errors by ensuring that no single person has control over all aspects of financial transactions.

There is so much room for error when a team handles financials by hand or in a simple Excel sheet. Instead of spending time organizing receipts, invoices, and payroll, handoff those duties to an expert. For example, bookkeepers can see double payments or cash from a new vendor. 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. If you need to create an invoice, accept online donations, or track notes about your supporters, it’s no problem.

Whether it’s a full-time bookkeeper or just assistance for your existing staff, KP Advantage works with you to provide the best solution for your unique needs. A. Accounting allows you to quickly determine your organization’s financial state, and whether you have adequate funding to cover costs. Keeping your income and expenses in order will also help when nonprofit bookkeeping service filing tax documents at the end of the year. Additionally, many foundations want to view financial statements or a 990. A good bookkeeper will help you maintain good record-keeping and be prepared for any audit. Nonprofit bookkeeping is one of the most crucial needs in an organization to maintain good financial health and transparency with supporters.

Accounting software can make this process easier and help your bookkeeper follow GAAP standard accounting principles. Nonprofits of all sizes use the following software to create and keep these reports up to date. Our team adapts to your nonprofit’s needs to provide the perfect financial management solution. We can serve as your organization’s bookkeeper, accountant, controller, or Chief Financial Officer (CFO), depending on which services you’re looking for.

A. The balance sheet shows a snapshot of the organization’s financial position, including assets and liabilities. Balance sheets show you and your potential donors that funding is being utilized effectively to sustain the organization’s mission fulfilling programs. If you’re looking for a one-stop-shop online fundraising tool that seamlessly integrates with your CRM, marketing tool, or accounting software, take a look at Donorbox.

Serving Nonprofit Organizations Nationwide

Instead, it gives you the time to work on your mission and serve the community. Bookkeeping and Accounting may be used interchangeably, but they’re very different. Bookkeeping is focused on cash flow for an institution while accounting is basically analyzing all of that data. Since every nonprofit is different, it’s impossible to say one software is the best – but there are some excellent options. Look for a program that is easy to use, efficient, and available on numerous devices. The selected program should be able to automate everyday tasks and minimize errors.