They say that money is time, and time is money. If you work for a nonprofit or a church, one of the best things you can do to save both time and money is to consider nonprofit accounting firms and bookkeeping services.
Nonprofit accounting isn’t an easy subject to learn. Even with good accounting software, recording your nonprofit’s transactions and receiving accurate financial reports can get stressful and overwhelming. If you don’t understand fund-base accounting, that can only make it worse.
Good financial stewardship requires knowing your nonprofit’s financials as much as you know the people who your organization serves. Also, a good nonprofit accounting firm can provide assistance generating nonprofit financial reports, tax preparation and audits, and offer general nonprofit best practices.
So, whether your nonprofit is applying for a grant, spending restricted grant money, creating your nonprofits unique budget, or having issues getting the right financial reports, getting a second opinion is crucial.
This is where a good nonprofit bookkeeper can come in!
Nonprofit Bookkeepers: The Experts
If your nonprofit is looking for a more catered and personal experience, a personal nonprofit bookkeeper could be the perfect fit for your organization.
When seeking out good nonprofit bookkeepers, you’ll want to look for a bookkeeper who knows how fund accounting works. After all, fund accounting is very different than for-profit accounting. A knowledgeable firm or bookkeeper with a fund accounting background can drastically affect the financial health of your nonprofit, as they will understand your nonprofit’s needs. A good nonprofit bookkeeper can provide helpful insight regarding donation tracking and donor management.
Whether its dealing with restricted funds, unrestricted funds, allocations, fixed assets, or even helping with contribution statements for your donors, bookkeeping services can be a game changer for your nonprofit. Ultimately, having a nonprofit bookkeeper allows your organization to focus on your mission and not worry about your organization’s finances.
What To Look For In A Nonprofit Bookkeeper
Here are some things to look for in a good nonprofit accounting firm or bookkeeping service:
- Accurate and timely data entry
- Bank reconciliation services
- Accurate financial statements and reports
- Form 1099 and 990 tax preparation
- Payroll, invoicing and check services
- Donation management knowledge
- Affordable pricing
- And lastly, a personal bookkeeper who cares and can help you along the way.
Bonus tip: Look for bookkeeping services that include fund accounting software. This makes your job more convenient when your accounting software and your bookkeeper are in one place.
Check this page out to get more information on affordable nonprofit bookkeeping services.
At the end of the day, there are plenty of things that can go wrong when trying to lead your nonprofit and run your finances. Be sure to check out affordable and timely bookkeeping service that can help you focus on your mission!