Managing Travel in Nonprofit Organizations

By CarolCarrie / August 5, 2019 /
FILED UNDER ,

Does your nonprofit reimburse travel for staff and volunteers? One of our clients, a youth soccer organization, sends players to a national tournament. The trip entails paying for airfare for the teenagers and chaperones as well as meals and lodging while at the tournament location. Plus there are miscellaneous expenses such as mileage or cab…

Read More

Highlights of ASU 2016-14

By CarolCarrie / July 1, 2019 /
FILED UNDER ,

We have noticed a lot of people searching for more information about ASU 2016-14. If your organization is on a calendar year, you may be going through your annual audit over the summer and having to deal with the new requirements. So we thought we’d give you a giraffe’s eye view of what you need…

Read More

Nonprofit Cash Reserves: What To Do with Too Much Cash?

By CarolCarrie / June 3, 2019 /
FILED UNDER

Recently we noticed an enviable problem with several of our clients. What to do with all that cash piling up? Here are stories of three nonprofits with too much cash and how they handled it. At the end of the post we provide more information about reserves and quasi endowment. Organization #1 The first organization…

Read More

Capitalize or Expense Building Improvements?

By CarolCarrie / May 6, 2019 /
FILED UNDER

Recently a client came to us with a question about whether she should capitalize or expense a new interior door that replaced an old door within their building. The new door was heavy duty, fire resistant, and contained a window to facilitate monitoring of vulnerable clients. It was much more expensive than the standard door…

Read More

An Executive Director Reflects on Bringing Bookkeeping In-House

By CarolCarrie / April 1, 2019 /
FILED UNDER

Recently Carol sat down with Lynda (not her real name), an executive director who brought bookkeeping in-house in 2018 for the nonprofit organization she leads. We worked closely with Lynda to help her manage the transition. Now that the monthly bookkeeping process has settled into more of a routine, we took a few minutes to…

Read More

A Nonprofit Parking Tax??? (REPEALED)

By CarolCarrie / March 4, 2019 /
FILED UNDER

UPDATE: Effective December 20, 2019, the “Taxpayer Certainty and Disaster Tax Relief Act of 2019” retroactively repealed the wildly unpopular tax on parking fringe benefits provided by nonprofit employers. BLOG POST BELOW IS PROVIDED FOR HISTORICAL REFERENCE ONLY Yes, starting Jan. 1, 2018, Congress is implementing a nonprofit parking tax. Hidden in the 2017 Tax…

Read More

Summary Sales Receipt to Record Nonprofit Income

By CarolCarrie / February 4, 2019 /
FILED UNDER

Summary sales receipts have long been a “go to” accounting trick for restaurants and retail stores. By using a summary sales receipt, a business can easily enter a summary of the day’s sales and methods of payment into the accounting system. But did you know this technique can also be used by nonprofits? How a…

Read More

Getting Income from Customer Management Software into QuickBooks

By CarolCarrie / January 28, 2019 /
FILED UNDER ,

Organizations use various types software to help manage customers and the revenue process. But that software is often disconnected from the accounting system. Customer and revenue software programs fall into three major categories: Industry-specific customer relationship management (CRM) software. Examples include: ProCare – for child care centers VETbuddy – for veterinarian clinics TherapyNotes – for…

Read More

Transfers Between Bank Accounts

By CarolCarrie / January 21, 2019 /
FILED UNDER

Transfers between bank accounts often trip people up in QuickBooks.  Here are some of the errors we see: Coding a transfer out of a bank account as an expense and coding the deposit into the receiving bank account as income. Duplicate entry of the transfer – by posting the transfer separately in each of the…

Read More

A One Hour Nonprofit Bookkeeping System?

By CarolCarrie / January 14, 2019 /
FILED UNDER

“We’d like to have our accounting take an hour a week instead of 10 hours.” Amy, the executive director of a five-year-old human services organization, poured out her frustration. “Our volunteer accountant says she is willing to put in about an hour a week, but if it’s going to be 10 hours she is leaving.”…

Read More