Accounting Tips for Your Non-Profit Organization
Do you run a non-profit organization? A lot of passion and hard work can go into the making and managing of a non-profit organization. Many of them serve very noble purposes. Of all of the tasks that need to be completed when managing a non-profit organization, it can be easy to forget the accounting basics that must be done to keep things in order. For accounting for your non-profit organization, call Wilson Toellner CPA. Keep reading for some helpful accounting tips.
Be prepared for audits.
You never know when the IRS may step in for an audit. Make sure your non-profit organization is meeting all of the IRS requirements and if you are unsure, ask an accountant in Mid Missouri as soon as possible.
Know your operating budget.
When managing a non-profit organization, it's important to be aware of what your overall operating budget is and to stick to it. Typically, operating budgets consist of your overhead costs and labor costs, such as the salary of all non-profit employees. Things can change, so when setting up your budget, just realize that unexpected things can happen that may make you adjust your budget over time.
Be realistic about your fundraising.
It's important to set goals for your organization but to not overshoot. Set an attainable goal. Do your research and use accurate data when planning your fundraising for the year.
Follow GAAP.
GAAP stands for the Generally Accepted Accounting Principles which are the standard rules accounting professionals should follow and abide by when tracking and creating financial statements. If you are questioning what these are, talk to your local accountant.
Consider having a professional accounting firm help you.
Focus on why you started the non-profit organization in the first place and leave the accounting to the professionals. You may not have the time to handle vital tasks, such as bookkeeping or payroll. A professional accounting firm does.
We provide financial information to our clients in a timely and accurate manner. This is a commitment that we feel cannot be compromised. We believe that meaningful, well-organized financial records ensure that your non-profit organizations' operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including:
If this sounds like something you non-profit organization could benefit from, please call the Wilson Toellner CPA nearest to you. We have four conveniently located firms, one in Marshall, Sedalia, Camdenton and Lake Ozarks. For more information on the services we provide, visit our website at www.WTCPA.com.
Accounting Tips for Your Non-Profit Organization
Be prepared for audits.
You never know when the IRS may step in for an audit. Make sure your non-profit organization is meeting all of the IRS requirements and if you are unsure, ask an accountant in Mid Missouri as soon as possible.
Know your operating budget.
When managing a non-profit organization, it's important to be aware of what your overall operating budget is and to stick to it. Typically, operating budgets consist of your overhead costs and labor costs, such as the salary of all non-profit employees. Things can change, so when setting up your budget, just realize that unexpected things can happen that may make you adjust your budget over time.
Be realistic about your fundraising.
It's important to set goals for your organization but to not overshoot. Set an attainable goal. Do your research and use accurate data when planning your fundraising for the year.
Follow GAAP.
GAAP stands for the Generally Accepted Accounting Principles which are the standard rules accounting professionals should follow and abide by when tracking and creating financial statements. If you are questioning what these are, talk to your local accountant.
Consider having a professional accounting firm help you.
Focus on why you started the non-profit organization in the first place and leave the accounting to the professionals. You may not have the time to handle vital tasks, such as bookkeeping or payroll. A professional accounting firm does.
Wilson Toellner CPA Can Help Your Non-Profit Organization with Its Accounting Needs
We provide financial information to our clients in a timely and accurate manner. This is a commitment that we feel cannot be compromised. We believe that meaningful, well-organized financial records ensure that your non-profit organizations' operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including:
- General ledger & financial statement preparation
- Bookkeeping (Monthly/Quarterly/Annual)
- Accounting system setup for new businesses
- Computerized payroll services
- Business tax return preparation (Sales & Use/Business Property)
- Personal financial statements
- Litigation support
If this sounds like something you non-profit organization could benefit from, please call the Wilson Toellner CPA nearest to you. We have four conveniently located firms, one in Marshall, Sedalia, Camdenton and Lake Ozarks. For more information on the services we provide, visit our website at www.WTCPA.com.
For tax preparation services you can count on, call:
Sedalia -- (660) 827-4990
Marshall -- (660) 886-6815
Camdenton -- (573) 346-6822
Lake Ozark -- (573) 964-5739
Check out our website: www.WTCPA.com
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