They have experience with tools like QuickBooks, Sage 50cloud, Xero, NetSuite, Zoho Books, and FreshBooks. If needed, we can even help with tracking your donations, paying bills and accounting for your payroll. If you need to create an invoice, accept online donations, track notes about your supporters, it’s no problem.

BudgetEase gives nonprofit organizations peace of mind with its bookkeeping expertise. We are passionate about Accounting for Nonprofits and can serve as your outsourced advanced bookkeeping and accounting department. We provide the expertise you need to help your nonprofit serve more people, raise more money, and drive your mission forward.

Learn more about how we assess and set up your QuickBooks to work best for your Nonprofit.

The financial insights made available through a robust back office will help you identify, measure, and track key performance indicators that can help you determine the best way to use your resources to accomplish your mission. When you select board members or hire an individual to serve as your executive director, you likely aren’t selecting them for their strong background in bookkeeping and accounting. Likely, you choose them based on their list of contacts, fundraising abilities, and proven commitment to your cause.

Bookkeeping for a nonprofit is vital because it proves how an organization is spending its funds. Learning how to do nonprofit accounting and understanding which statements a nonprofit needs to prepare is crucial for anyone who wants to run a successful nonprofit. The primary function of our bookkeeping services is to provide a monthly, quarterly, and annual reporting package in full accrual accounting. Nonprofit organizations should have a compliance plan to help ensure that they adhere to all relevant laws and regulations. They should also conduct regular compliance reviews and audits to identify potential issues and make necessary changes to their operations.

Let Us Help You save money as you Grow Your 501c3 Nonprofit!

Eide Bailly has a team of professionals with expertise in accounting, finance, and nonprofit management, which can provide a comprehensive set of services to nonprofit clients. Offices are located in Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Oklahoma, South Dakota, and Wyoming. With Supporting Strategies controller services, you can ensure that your board receives clear and accurate financial information on a frequent basis. Setting these challenges aside and investing in best-in-class nonprofit bookkeeping can help ensure success, both now and long-term. Knowing how money flows in and out of your organization and sharing that data effectively with your board and donors will help your organization run more smoothly. In addition, nonprofit bookkeeping will provide the data you and your team need to identify the most pressing needs that your nonprofit faces and finding ways to address them.

These reports are customized for each individual organization to capture important financial and non-financial metrics. You always have access to your financial records and can switch to a nonprofit accounting software only subscription at any point with a 30-day notice if you decide to manage the books yourself. Since nonprofit organizations don’t center on profit but on a nonprofit mission, they have different bookkeeping practices.

Affordable Outsourced Accounting Services for Nonprofit Organizations

Both require very different levels of effort and expertise and the cost for full-service accounting is much higher. However, most nonprofits that make the leap see the value, and experience an ROI rapidly. Just like https://www.bookstime.com/ for-profit businesses, nonprofits need to spend money on accounting. However, it’s important to consider that nonprofits require a much more robust system of bookkeeping and accounting than for-profit businesses.

• NumberSquad is a small business accounting firm that offers affordable and quality bookkeeping, payroll, and tax filing services to nonprofits.
• If needed we can review and clean up your books periodically to ensure accuracy.
• At the same time, your organization has a responsibility to ensure transparency and accountability to your donors and to the general public.
• While many firms may offer services to nonprofits as a part of their platform, Jitasa stands out because their team dedicates themselves to fund accounting and helping nonprofits succeed financially.
• It goes without saying that you should never use your personal bank account for your nonprofit organization.
• These services may include bookkeeping, financial reporting, budgeting, and tax preparation.
• Instead, let our nonprofit accountants focus on pre-audit preparation, income/expense classification, and importantly, grant and member tracking, while you work to realize your mission.
• After you acknowledge this, we will forward you another email providing you access to our client-only web tools & questionnaire.
• Develop an efficient system to handle invoicing, payment collection, and bill management.

Our team will review your application to determine whether we are a good fit for your organization’s needs. When you invest in our ongoing accounting and payroll services, we spend the first three months getting to know your organization’s operations and developing your organization’s accounting foundation. We keep your books audit-ready by handling the bookkeeping, accounts receivable, and payables with allocations, reconciling the finances, and providing financial reports to satisfy your stakeholders. Numbers 4 Nonprofits provides both high-level and day-to-day support for nonprofits of all sizes. This means that no matter what information your nonprofit is searching for, Numbers 4 Nonprofits will help you find the answer.

CLA – Nonprofit Service Provider

The statement of financial position represents the nonprofit version of the balance sheet. This statement provides insight into how much a nonprofit owes, what it owns, and how much money is left. Unlike for-profits, nonprofits don’t have equity because they don’t have owners, and that’s nonprofit bookkeeping services the biggest difference between a balance sheet and a statement of financial position. Some are unrestricted net assets and some are considered restricted net assets. The option you go for should also enable you to do fund accounting (i.e., use different accounts for different purposes).