Bookkeeping

Retained earnings appear in the balance sheet as a component of stockholders equity. Cash dividends represent a cash outflow and are recorded as reductions in the cash account. These reduce the size of a company’s balance sheet and asset value […]

Broadly defined, cash includes both cash and cash equivalents, such as short-term investments in Treasury bills, commercial paper, and money market funds. Another purpose of this statement is to report on the entity’s investing and financing activities for the period. […]

Think of it as a roadmap that helps your team manage financial resources effectively, ensuring you have the funds to support your programs and initiatives. In this guide, you’ll walk through the essentials of budgeting for nonprofits, covering different budgeting […]

Strengthen your nonprofit’s financial management framework and support your mission’s success. Schedule a FastFund demo today to see how we can help your organization thrive. A nonprofit budget is not just a financial document; it is a key tool for strategic […]

AccuFund is an excellent resource for nonprofits looking for a https://nyweekly.com/business/accounting-services-for-nonprofits-benefits-and-how-to-choose-the-right-provider/ reliable financial management tool. As your nonprofit grows and steps out into more complicated financial projects, AccuFund lets you purchase tools that fit your organization’s needs. Fund accounts make […]

Nonprofit fund accounting differs from for-profit accounting because it ensures accountability to the donors’ wants and tracks how these funds are allocated. We find that small to mid-sized nonprofits benefit most from investing in the Plus or Advanced plans of […]

For an internal review, your organization’s own management or finance team evaluates your financial practices and strategy. While helpful for routine oversight, internal reviews lack the objectivity and professional validation of an external audit. The cost of an independent audit […]

Aligning accounting practices with the organization’s structure, whether it operates on an accrual or cash basis, is also essential. An independent audit may be among the nonprofit audit requirements for those enterprises receiving federal funding. Congress to assure compliance with […]

In all but the smallest of organizations, a cash flow forecasting process will involve gathering data from several people or departments. Forecasting involves inherent uncertainty, making scenario analysis and sensitivity testing invaluable practices. Moreover, small businesses typically have limited resources […]

Today, individuals and businesses alike generate more financial data than ever before. Statements from various bank accounts, online transactions, and other financial data are a very real part of our everyday lives; unfortunately, so are financial crimes like fraud. All […]