Now that we’ve wrapped up the 2018 year, it’s time for your organization to look back at the reports for the prior fiscal year, which will help you stay as prepared as possible for 2019. Watch the video below to see how easy it is to keep your reports and books organized through Aplos.
Does your accounting software provide reporting by fund? If not, then check out our Accounting Software made specifically for nonprofits and churches.
The Basics of the Video:
Chances are you already have these reports handled, but it never hurts to double check.
- Income Statement – Look at your income statement for 2018.
- Balance Sheet – Double check all your assets, liabilities, and fund balances.
Looking for something more specific and activity based?
- Budget To Actual – Actuals will match the income and expense accounts, as well as show what you designated for your budget, and how well you did to meet that goal. This should be done monthly or quarterly.
- Income by Department – Now is the time to look at the performance of individual departments. By looking at these departments inside your income statement, you can see the transaction history in case you would like to do more research on why a department performed in a certain way. This is also an opportunity to add further details to your transactions, as well as reclassify them if need be.
- Tag Based Reports – In case you have questions related to a particular tag category, you’ll be able to view histories in your income statement, budget to actual, transaction list, etc., based on a particular tag, such as tags for a school, program, or custom tags you’ve created.
- Balance Sheet (Again) – If you’ve made any corrections or changes while reviewing your end of year reports, keep in mind that these changes will affect your balance sheet, so you’ll want to finish up by double-checking the Balance Sheet by Fund.
Watch the video for more details. Have questions? Feel free to leave a comment below!