financial year
How Much Budget Should Your Nonprofit Carry Forward?
How much budget should your nonprofit carry forward from one year to the next? The short answer is: it depends. For some nonprofit groups, a small reserve is enough to cover startup costs and early events. Others might need to hang onto a larger balance for long-term projects or unexpected expenses. Here are a few…
Nonprofit Best Practices: Fiscal Year Alignment
Many nonprofits find themselves in a situation where their budget period, bylaws and financial software don’t align with their official year as stated with the IRS an their Secretary of State. While it’s possible to manage this with extra effort (and risk), there’s a much simpler solution: fiscal year alignment. Benefits of Fiscal Year Alignment…
Should Club Treasurers do a Monthly Audit, an Annual Audit, or Both?
Following is a transcript from this episode of MoneyMinder’s Two Minute Treasurer’s Tip Podcast. Welcome to the Two-Minute Treasurer’s Tip Podcast. I’m Cyndi Meuchel, and today we’re talking about monthly versus annual audits. Do club treasurers need to do both? You’re likely familiar with the idea of holding an annual audit – that’s where you…
Do You Need to Change Your Financial Year Start Date?
Following is a transcript of this episode of the Two Minute Treasurer’s Tip Podcast from MoneyMinder, with audio/video below. Welcome to the Two Minute Treasurer’s Tip Podcast. I am your host Cyndi Meuchel with MoneyMinder. If the idea of changing your financial year has crossed your mind, you’re going to want to keep listening. Thomas asks: We…
Why Does MoneyMinder Name Financial Years the Way They Do?
Following is a transcript of this podcast episode, with audio/video below. Welcome to the Two-Minute Treasurer’s Tip Podcast. I am your host Cyndi Meuchel with MoneyMinder where our goal is to make your life as a volunteer way easier. Mckenzie asks: Why does MoneyMinder name their financial years the way they do? I find it…
Is it Possible to Change Your Financial Year?
Following is a transcript of this podcast episode, with audio/video below. Welcome to the Two-Minute Treasurer’s Tip Podcast. I am your host Cyndi Meuchel with MoneyMinder where our goal is to make your life as a volunteer way easier. Rob writes: Our group is set up with a tax year that is awkward for us.…
3 Steps to Changing Your Financial Year
Are you looking to change your financial year? Whether your nonprofit group was set up a month or a decade ago, there could be compelling reasons to change your tax year. For example, if you set up your Booster Club or Parent Group (PTA, PTO, PTSA) on the calendar year, you may have later realized…
Financial / Fiscal Years and How They Impact You
Following is a transcript of this podcast episode, with audio/video below. Welcome to the Two-Minute Treasurer’s Tip Podcast. I’m your host, Cyndi Meuchel, co-owner of MoneyMinder, where we are hoping to make your volunteer life easier. Today I’m answering the following question: What is a financial year? Stacy writes, “I’m a new treasurer and I…
Nonprofit Audit Guidelines
Get Started With Non-Profit Your Financial Review or Audit If you do not have a national organization that provides you with Audit guidelines, here are some ideas on how to get started:
Nonprofit Audits & Financial Reviews
Is it an Audit or a Financial Review? The intention is the same, as it is the same process. The difference is in who does it! If a paid tax professional does it, it will probably be called an audit. If unpaid volunteers do it, it will probably be called a financial review. We use…
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Connect your Bank, Paypal and Square accounts to MoneyMinder PRO to directly download transactions, saving you time and effort. You just review the transactions to ensure they are properly categorized and fill out any required fields.
Connect your Bank, Paypal and Square accounts to MoneyMinder PRO to directly download transactions, saving you time and effort. You just review the transactions to ensure they are properly categorized and fill out any required fields.
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