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Reduce Nonprofit Admin Costs With Streamlined Bookkeeping

June 6, 2019 / by Tom Ross posted in Bookkeeping Services, Kansas City, Nonprofits

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Most nonprofit organizations have multiple revenue streams. Tracking all those funds and their associated expenses can easily overwhelm the administrative staff, particularly at smaller organizations. Or, to put it another way: Admin costs often consume a disproportionate amount of a nonprofit's budget, measured in both money and time.

Here's how you can streamline your nonprofit's bookkeeping to cut admin costs:

Stay Current
Instead of allocating revenue and expenses as they occur, many nonprofits wait and assign them to funding sources as a separate process. But with so many buckets and so many costs, it's a poor use of time to do all that scrubbing, trying to back every dollar into where it needs to be. It can also be stressful, especially if mistakes or discrepancies start piling up.

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Better Bookkeeping Practices for Nonprofit Organizations

October 10, 2017 / by Tom Ross posted in Bookkeeping Services, Kansas City, Nonprofits

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To maintain good financial health, nonprofit organizations should adopt the same bookkeeping best practices as for-profit organizations.

Here are some simple bookkeeping tips to help keep your nonprofit on the plus side of the ledger.

Get with the (Software) Program
There's no shortage of bookkeeping software you can use at your nonprofit. However, you should also consider applications that will integrate with your accounting software to drive operational efficiencies through workflow automation. If you haven't already graduated from using basic accounting software, now is the time to do so.

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Presenting Financials to a Nonprofit's Board of Directors

July 11, 2017 / by Tom Ross posted in Kansas City, Business Advice, Nonprofits

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Nonprofits pose a special challenge to providers of bookkeeping services. The financials are complex and multilayered — and they must be presented to a board of directors that often lacks financial expertise and experiences frequent turnover.

Because maintaining a variety of funding streams (public, private, grants, events, etc.) is vital to a nonprofit's survival, the ability to make clear, easy-to-follow presentations is critical.

Strike the Right Tone
A good nonprofit financial presentation is a tightrope act. You have to balance a high-level overview with enough specifics at the individual program level for the board to carry out its fiduciary responsibility and achieve the organization's mission.

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