Making a nonprofit mission drift official
Has your nonprofit’s mission shifted in recent years? You may need to make the change official. Here’s how to evaluate your mission, write a new statement and notify invested parties.
Cash vs. accrual accounting: What’s the difference?
Is your business using the optimal method of accounting? What’s right depends on your company’s size, level of sophistication and other key factors.
Plan now to reimburse staffers, board members and volunteers
Every organization needs a reimbursement policy, even if you infrequently reimburse stakeholders for travel, meals and other expenses incurred on your nonprofit’s behalf. We explain what a policy should include.
Small businesses can help employees save for retirement, too
Many small business owners believe they can’t afford to sponsor a qualified retirement plan for employees. If this is the case for your company, be aware that there are some relatively inexpensive, simple options worth considering.
Is it time to upgrade your business’s accounting software?
Although there’s some truth to the old expression “if it ain’t broke, don’t fix it,” companies often soldier on for years with inefficient or outdated accounting software. Certain telltale signs can help business owners decide when to upgrade.
2024 tax calendar
Reference this tax calendar to learn the 2024 deadlines for various tax-related forms and payments.
3 tips for making the financial statement auditing process smoother
How much do you know about the process of preparing audited financial statements? Here’s what your nonprofit can do to ease the way.
Got independent contractors? Get to know Form W-9
Nonprofits that pay independent contractors must keep completed Form W-9s on file for them. We offer some tips for obtaining this information from workers and filing it the IRS.
Why uncertainty calls for a more flexible budget
If your nonprofit’s budget is fixed or static, it may be inadequate during turbulent times. Here’s why you might want to consider a more flexible rolling budget, or even decide to reforecast your current budget.
The IRS unveils ERTC relief program for employers
Beware of fraudsters hyping the Employee Retention Tax Credit! Not all businesses are eligible despite the claims you may be hearing on TV or in mail, phone and email solicitations.
The future of accounting: How to embrace cutting-edge technology
Artificial intelligence is a hot topic among business leaders. Should your company make a New Year’s resolution to evaluate AI’s potential to improve its financial reporting and planning?
6 tips to improve job-costing systems
Is your company’s job-costing system accurate and user friendly? Tracking costs can help identify which projects and customers are the most (and least) profitable.