Nonprofit Accounting & Bookkeeping Services

There’re a lot of cash donations, restricted and unrestricted grants that require complex dimensional reporting to track funds, manage program funds, prepare board reports and financial statements. While you strive to focus on running lean on expenses to maximize your mission impact, we help you with reliable grant accounting, financial management, internal controls, weekly, monthly financials and cash flow statements. We have the right experience and expertise to manage nonprofit bookkeeping and accounting services. Our team understands the difficulties of nonprofit accounting, including tracking donations and grants, handling restricted and unrestricted funds, managing tax-exempt status, and preparing specialized financial statements. Our team ensures your nonprofit’s financial statements meet the necessary standards, making the audit process smoother and reducing the risk of compliance issues. Our nonprofit bookkeeping services leverage cloud-based accounting software like QuickBooks, Xero, and Sage Intacct to provide seamless bookkeeping and accounting services for nonprofit organizations.

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These restrictions affect how nonprofits can recognize revenue and spend funds. Nonprofits must track contributions with and without such restrictions separately, ensuring compliance with donor requirements and enhancing financial transparency. Virtual outsourced accounting is a specialized service that provides one or multiple accounting functions to your organization. Chazin can work with you as your entire accounting department or to support your current in-house department.

• Regular reconciliation catches problems while they’re still small and manageable.
• Our Controller Services are designed and built for those that have more sophisticated requirements than just accounting services.
• We can even provide targeted scrutiny on specific areas of concern to reduce the risk of fraud or errors.
• Find out if an audit is required for your nonprofit before you venture down this path, and learn about times when an audit is not only recommended, but required by law.
• Now, more than ever, financial clarity and transparency are critical to your organization’s success.

Focus on proactive financial planning

They have experience with tools like QuickBooks, Sage 50cloud, Xero, NetSuite, Zoho Books, and FreshBooks. There are approximately 1.56 million nonprofits registered in the United States according to the Internal Revenue Service. „In complex transactional situations, the firm has had the expertise to help us handle all of them without breaking stride.“ – Jon R. Our Technology Solutions Consulting department helps nonprofit entities with everything from routine troubleshooting and maintenance to long-term technology planning.

• “I am pleased to provide a glowing review for Erica’s exceptional volunteering accounting services.
• After helping more than 250 nonprofits with accounting, tax, audit, HR, technology and other services, we can provide you with an experienced perspective.
• Aplos has everything you need in one place for streamlined nonprofit and church management.
• This key difference in the LLC vs. nonprofit comparison comes with strict requirements for financial reporting and public disclosure.
• One of the most commonly used dedicated accounting solutions for nonprofits is the Intuit QuickBooks suite.
• If you have not utilized these services during the year, you do not need to submit a Form 1099.

Empowering Your Mission Through Accounting

Nonprofits may need a The Key Benefits of Accounting Services for Nonprofit Organizations CPA to review their financial statements or prepare tax returns from day #1. Many first look to hire an outsourced accountant or bookkeeper once they hit $150,000 in revenues. The accounting has now become complex with grant reporting and tracking.

Accurately record program fees, contributions & deposit

State charitable registrations need regular updating, while donor restriction compliance demands ongoing documentation. Board members expect regular financial updates, and program managers need budget reports. What matters is the overall picture of your organization’s financial health and impact.

This is because your company’s industry, years in business and unemployment history can all determine the percentage used to calculate the amount due. Note that depending on the type of business you run, you might file an alternate form. You’ll also have to report these amounts (and other information) regularly to the IRS. If you’re self-employed, however, you’ll need to pay the full 15.3% of FICA taxes due on your salary. FUTA taxes are paid entirely by the employer; there is no employee payment. But access to answers and advice you can trust is a necessity if you want your organization to grow and thrive.

A Guide to Nonprofit Accounting (for Non-Accountants)

We’ll also handle a variety of analysis and reporting tasks, such as reconciling accounts, compiling financial statements, and issuing 1099s. Fund accounting, commonly used by nonprofits, separates resources into different “funds” based on restrictions and purposes. This differs from regular accounting, which tracks your expenses and income. It helps ensure donor restrictions https://nerdbot.com/2025/06/10/the-key-benefits-of-accounting-services-for-nonprofit-organizations/ are honored and funds are used as intended. For-profit organizations have it simple; they just track net income from sales.