Resources

Does your company struggle to close its books at the end of each month? The month-end close requires accounting personnel to round up data from across the organization. This process can strain internal resources, potentially leading to delayed financial reporting, errors, and even fraud. Here are some simple ways to streamline your company’s monthly closing […]

Economic, social, and political events in 2024 have the potential to negatively influence your not-for-profit’s budget. So if you generally prepare static budgets well in advance of each fiscal year, you may want to switch things up. Rolling budgets can provide your organization with greater flexibility. And in the event of major changes, you may […]

If your not-for-profit’s 2024 plans include international expansion, take care. Rules that apply to U.S.-based nonprofit activities — such as soliciting donations, recruiting members, hiring employees, and selling products — often are different overseas. You need to make sure the desire for your services or products is robust enough in your target countries to justify […]

If your not-for-profit is perpetually shorthanded, you may have decided to engage independent contractors or freelancers to pick up some of the slack. Just make sure you’re collecting the right information from these individuals and filing it with the IRS. Clean paperwork now can save you a lot of headaches — including tax penalties — later. W-9 […]

Financial statements tell investors information about an organization’s financial performance, helping to ensure corporate transparency and accountability. But they can also be used internally to help management make strategic decisions, improve upon past results, and add value. There are three parts to comprehensive financial reporting under U.S. Generally Accepted Accounting Principles (GAAP) — each with […]