Many nonprofits struggle to find accounting solutions built specifically for their needs. Whether you’re balancing the books yourself or contracting out to a standard CPA firm, you may have experienced that moment of utter incomprehension when your organization’s finances don’t fit neatly into for-profit systems. If you can’t figure out how to track restricted funds or classify your expenses, a nonprofit accounting specialist can help you clarify the many quirks and nuances of your financial records.
Another great resource for not-for-profit accounting is the Nonprofit Accounting Cheat Sheet on npEngage. This guide was developed by savvy minds at Blackbaud, and includes simple descriptions of terms like Net Assets and Fund Accounting, and busts a few of the myths surrounding cloud accounting systems. With a user-friendly visual layout and a host of helpful tips, this is a guide you may want to bookmark for the next time you’re stuck agonizing over a mess of nonprofit accounts.
Of course, we’re always available to help too! Give us a call at one of our convenient Colorado or Michigan locations for a free consultation with an Altruic Advisors nonprofit accounting specialist.