Nonprofit Accounting Basics
Collecting Dues When Times Are Tough
When your organization or community faces hard times, you may feel uncomfortable collecting dues from your members. Whether you are managing due collection for a sports team or an HOA, it is important to remember how crucial dues are to keep your organization running properly. Keep in mind that your members are most likely loyal…
Making Sure your Nonprofit Organization is Compliant
Making sure that your nonprofit organization is compliant might seem like a snooze fest, however, compliance is super important. It just takes a little research to make sure that you are operating at a high level of accountability and transparency. Tax exempt status, fundraising and reporting can all be very complicated and we are here…
How to Wrap Up Your Year as Treasurer
And…that’s a wrap! Or is it? As the school year draws to a close there are a few items that a volunteer treasurer needs to check off of their list. The chalkboard may be wiped clean and the lockers swept out but you still have a (volunteer) job to do. Fiscal Year End Many school…
Treasurer Transition Strategies for HOAs
Serving as the treasurer for your HOA Board of Directors is an important job. To make your job as treasurer a little easier, there are a few things you can do to smooth your transition onto the Board. Smooth transitions are not only key to your success but they can aid in future changeover which…
3 Pillars of Effective Nonprofit Accounting Software in 2018
Finding straightforward accounting software to manage your nonprofits books can be an overwhelming process. Software programs can either be too complex for a small nonprofit or too simplistic for your accounting needs. We would like to make this process a little bit easier for you by providing 3 important pillars to look for when choosing…
The Ease of IRS Tax Form 990N
We understand that tax filing time might not be everyone’s favorite time of year, but if your nonprofit qualifies to use the IRS Tax Form 990N, then tax filing might not be as difficult as you think. Who Can File The IRS Form 990N is also known as the e-Postcard. It is the simplest version…
The IRS 990 Tax Form Explained
For many groups tax filing time is just around the corner and almost all nonprofit organizations are required to file a 990 form. Just in the nick of time, we are here to explain who may use which 990 form and when it needs to be filed. Take a big sigh of relief, we have…
Accounting for Sports Teams: 10 Basic Tips
Accounting for sports teams is a little more complicated than simply reading the scoreboard. However, it doesn’t have to be too challenging when you follow these helpful tips. Help your team by handling accounting curve balls with aplomb. 1. Evaluate Take stock of how team accounting has been done in the past. Did the previous…
The Treasurer Duties of Reconciling a Checking Account
Whether you are an incoming Treasurer or this is a re-occurring role for you, the Treasurer duties of reconciling a checking account are very important to your financial success. Mistakes & Fraud There are two main reasons for reconciling a checking account. The first is to identify and correct errors. Let’s face it, mistakes happen!…
Treasurer Transitions for PTAs & PTOs
Spring means baseball, cookouts and gardening, right? Well it can also be a busy time for Treasurers of PTAs and PTOs. Behind T-ball practices and car-wash fundraisers there are PTA and PTO Treasurer transitions taking place and to ensure your changeover is a smooth one, we have some tips for success. Here is how to…