They say money is time, and time is money. If you work for a nonprofit, 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-based accounting, that can only make it worse.
Good financial stewardship requires knowing your nonprofit’s financials as much as you know the people your organization serves. Also, a good nonprofit accounting firm can provide assistance generating financial reports, tax preparation and audits, and offer general nonprofit best practices.
Whether your nonprofit is applying for a grant, spending restricted grant money, creating your nonprofit’s 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 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 someone 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, since they will understand your nonprofit’s needs. A good nonprofit bookkeeper can provide helpful insight regarding donation tracking and donor management.
Whether it’s 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
- A personal bookkeeper who cares and can help you along the way
Bonus tip: Look for bookkeeping services that include fund accounting software because this makes your job more convenient when your accounting software and your bookkeeper are in one place.
Options For Bookkeepers Recommended By Aplos
Proverbs 243 Consulting was founded in 2015 with the single mission to help small and medium-sized churches thrive in an ever-changing marketplace.
David Dennison formed Dennison CPA, PC in 2010. It is a church CPA practice that exclusively serves Christian ministries by providing audit and accounting services.
Christian Resource Management
Christian Resource Management was established in 1973 by a group of committed Christian businessmen. They recognized the need to provide the administrative support and public relations expertise needed by many nonprofits.