financial management
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.…
Sample Nonprofit Chart of Accounts (PTAs, Scouts, HOAs, Sports, Social and Service Groups)
A Chart of Accounts is the foundation of a solid nonprofit group. The COA is a categorized collection of accounts where you have bookkeeping entries, including Assets, Liabilities, Income and Expenses. Each time you put money in or take money out of your group, you need to record it to the right account. A nonprofit’s…
Be Prepared with this Nonprofit Audit Checklist for Parent Groups, Teams, Scouts and More
Why Perform an Audit? The annual audit: does the very thought of it make you cringe? While some may consider this task to be a burden, look on the bright side. An audit brings credibility to your organization. The board and membership will be reassured that the financial affairs of the organization are being accurately…
Mini Audits: What They Are and How to Conduct One
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. I happen to be the Co-Owner of MoneyMinder, where our goal is to make your life as a volunteer super easy. Today I’m answering the following question: What’s a “Mini Audit”…
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…
Building Trust in the HOA Board
Homeowners Associations (HOAs) are there to maintain common areas, landscaping, and property improvements, making sure the community is a well-kept, nice place to live. HOAs also use community funds and prohibit or allow certain activities to enforce previously established guidelines. This is where some HOAs get a bad rap. Even if it’s what they signed…
5 Reasons Your Nonprofit Should Switch From Quickbooks to MoneyMinder
The answer to the question of Quickbooks vs. MoneyMinder depends on who is using it. Quickbooks is an excellent tool that is right for many businesses, big and small. It is owned by a company called Intuit, which also owns TurboTax, and Mint, among others. Quickbooks promotes itself as the tool to “run your whole…
Considerations for Starting a Community Garden for Your HOA
When it comes to growing your own food, there are a great many benefits. Not only do fresh air and digging in the dirt provide some good old-fashioned outdoor therapy, having fresh fruits and vegetables on hand promotes health and wellness. But gardening as a community takes these benefits to the next level. It allows…
What’s the Difference Between Restricted and Reserved (Unrestricted) Funds?
One common question we see at MoneyMinder is about the difference between Restricted and Reserved funds. What are the rules for the different kinds of funds that are raised? How they can be allocated? And how can changes be made, if at all? These questions came up a lot during Covid as organizations had to…
Do You Need to File a Tax Return if Your Group Had No Activity?
It’s been a tough year for too many reasons to count. From virtual fundraising to online holiday events, nonprofit groups have shown their ability to adapt to a strenuous situation. But not all groups were able to continue when the pandemic hit. Our support team has received a few inquiries around this topic and we…
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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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