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Your Unrestricted Funds Need Stewardship, Too

sgEngage

All in unrestricted funds with no reporting necessary. While nonprofits will hopefully see an increase in unrestricted funds—and a decrease in burdensome reporting requirements—as part of this and other movements, good nonprofit accounting principles still apply. They don’t come with any direction or reporting requirements.

Fund 90
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5 Tips for Community Health Centers to Transition to New Fund Accounting Software

sgEngage

They’ll work together to ensure the system is configured to automate board reporting and UDS data so that you have more free time for other priorities. It will help you envision the ease of an optimized structure for your chart of accounts and the business rules that will be most beneficial.

Fund 90
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Don’t Jeopardize Your Nonprofit Compliance with a Commercial Accounting System?

sgEngage

If all your Ts aren’t crossed and your Is aren’t dotted on your grant reporting, your chances of repeat funding from that entity are low. When your accounting system is not built to handle restricted funding , each report can feel like a fire drill. It’s not just the end-of-grant reporting that can cause problems.

System 71
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A Beginner’s Guide to Nonprofit Financial Reporting

Greater Giving

Reporting is a key aspect of nonprofit financial management. Besides promoting accountability at your organization, financial reporting is legally required according to government regulations for nonprofits. However, your reports can also provide insight into your organization’s financial situation. Let’s get started!

Report 52
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Statement of Activities: Common Mistakes and How to Avoid Them

sgEngage

As a CPA working with nonprofits of all sizes, I’ve encountered numerous errors in Board of Directors’ financial reports and Statements of Activities documents. Being aware of these common pitfalls is crucial for maintaining the integrity of your financial reporting and in turn, the trust of your supporters.

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Taking Action: Fundraising Trends And Best Practices From Bloomerang’s ‘Fundraising Planning and Climate Report’

Bloomerang

This post describes actions you can take to implement the findings of Bloomerang’s 2023 Fundraising Planning and Climate Report. No matter where you are in your growth stage, taking action, in concert with your internal stakeholders, will always bring you closer to the goal of raising more revenue. One size does not fit all.

Action 74
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Beyond the Audit: 6 Best Practices to Build and Strengthen Your Relationship with Your Audit Firm

sgEngage

Audit teams would then be caught off guard, unaware of either newly implemented accounting systems, new chart of accounts, or changes in processes and management roles. Or possibly the organization is updating their internal controls and wants to make sure their changes are sufficient and reasonable.