Category: Bookkeeping

If you’re using Donorbox for church fundraising, managing your finances would be a breeze with Donorbox’s powerful integration with QuickBooks. In this article, we’ll discuss key bookkeeping responsibilities and steps to efficient bookkeeping and provide 3 software options that can help. With the majority of the setup work now completed, you’re ready to start entering […]

Since donors can set restrictions on how funds are spent, nonprofits use a different method of bookkeeping that better cater to their business structure. Your statement of functional expenses enables you to allocate your expenses according to their use at your organization. Essentially, it classifies your expenses according to your use of your organization’s funds. Essentially, this […]

Remember that bonds trade on markets the same as stocks, albeit at much higher levels as most bonds trade in groupings of $10,000 to $100,000 lots. Beware of internet scams with a picture of this page claiming you can enter your birth certificate number to access bonds owed to you. Those claims are false, and […]

If your ITIN expires, then your ITIN will no longer be valid under your name and will be open to being reissued to other applicants who qualify and applied for one. To get an ITIN for a child, you will generally need a certified copy of their valid passport and also a Federal Tax Return […]

If your ITIN expires, then your ITIN will no longer be valid under your name and will be open to being reissued to other applicants who qualify and applied for one. To get an ITIN for a child, you will generally need a certified copy of their valid passport and also a Federal Tax Return […]

You’ve opened a business checking account, chosen your accounting method, and decided how you’re going to keep your books. Accounting software ranges in price from free to hundreds of dollars a month. And generally, no matter the plan or price, accounting software is more reliable than by-hand spreadsheet accounting. This process includes calculating business expenses, […]

The reconciliation process includes reconciling your bank account statements, but it also includes a review of other accounts and transactions that need to be completed regularly. While much of the account reconciliation process is handled by accounting software, it still needs to be done. If you’re a software holdout and still record transactions manually, it’s […]

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Using your company snapshot, see what your customers are buying the most. Using your upcoming bills and cash on hand, see how your cash flow looks for the next six weeks by creating a cash flow projection. If your reconcile report matches your bank statement, you’re ready to start running reports. If they don’t match, […]

Understanding how depreciation impacts the income statement is crucial for investors and analysts when evaluating a company’s financial health and performance over time. On the other hand, when depreciation expense decreases due to changes in accounting estimates or asset disposals, how to write a nonprofit case for support including examples it can increase both operating […]