April 9th, 2012 Nancy
Elaina G asks, “Our nonprofit has taken advantage of opening up an Intuit Health Debit Card for our Program Director. The funds are tax free, can be claimed by the corporation if unused, but the account builds up for the employee to use as needed. Do I treat this as an Asset which diminishes as an Expense as it is used up? or as something else?….our nonprofit contributes the money to the Health Debit Card.” Read the rest of this entry »
Posted in Employee benefits and payroll | No Comments »
April 5th, 2012 Nancy
Anna P. asks, “I need to know how I can enter receipts from a fundraising [event] when a credit card is used and the amount received will not equal the amount of the…item sold.”
Great question, Anna, and I have an easy solution for you… Read the rest of this entry »
Posted in Cash Flow, Expenses, Revenue, Uncategorized | No Comments »
April 2nd, 2012 Nancy
This is no April Fools joke- make sure your organization isn’t tricked by this common con. Read the rest of this entry »
Posted in Fraud in nonprofits | 2 Comments »
March 29th, 2012 Nancy
If your organization uses a July-June fiscal year, you are, or should be, in the middle of budget development. If there is any time of year, or project, that requires great communication skills, this is it. We’ve got some communication strategies to help you through the process. Read the rest of this entry »
Posted in nonprofit accounting | No Comments »
March 26th, 2012 Nancy
Wendell H. writes, “How do I track temporarily-restricted and [permanently] restricted funds with QuickBooks? Are they to be considered “Equity” and if so, how are they setup?” Read the rest of this entry »
Posted in Bookkeeping, QuickBooks, QuickBooks formatting | No Comments »
March 22nd, 2012 Nancy
Christine Dolan asked :We have people who leave endowments to us, but I’m not sure how it should be recorded. Would it be recorded as long-term AR, since we don’t know when we’ll receive the money? We have to record it somewhere, right? Read the rest of this entry »
Posted in Bookkeeping, Cash Flow, Revenue | No Comments »
March 19th, 2012 Nancy
Stephanie G. asked, “We are putting together a document retention policy and I’m unclear as to how long to keep financial documents such as payroll, payables, and backup from cash receipts.”
Great question, Stephanie. When it comes to records management, there are no hard and fast answers. So much depends on state and local laws, and the needs of your organization. I have some tips on document retention policy creation best practices. Read on for the quick guide to records management policy writing. Read the rest of this entry »
Posted in nonprofit accounting | No Comments »
March 15th, 2012 Nancy
Every state has their own non profit organization registration requirements, and they are not alwaya the same as the federal requirements. Sometimes non profit state registration rules align with federal filing rules, but now always. Read the rest of this entry »
Posted in IRS and Taxes | No Comments »
March 12th, 2012 Nancy
Non-profits are always in need of low cost solutions, and free is even better. Read the rest of this entry »
Posted in nonprofit accounting | No Comments »
March 8th, 2012 Nancy
Q:
Is there a simple calculation for identifying and recording doubtful pledges?
Submitted by Christine D. Read the rest of this entry »
Posted in Bookkeeping, Cash Flow | No Comments »