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Non-Profit Accounting Services in New York City Charities

bookkeeping for nonprofits new york

We offer an array of advisory and consulting services, including cost allocation procedures, compliance program review and development, compliance review of fundraising reporting, and policy consulting. We provide bill payment, recording, invoicing and account reconciliation services without the expense of a full-time bookkeeper. In addition to your bookkeeping and accounting, ArtsPool will take care of your budgeting, forecasting, reporting, and audit prep. The average price of outsourcing your bookkeeping ranges from about $2,000 to $3,500 per month depending on the number of transactions and complexity of services required.

  • When you let us handle your nonprofit’s bookkeeping needs, you will be paired with one of our staff bookkeepers whose expertise is best matched to your needs.
  • A good bookkeeper will help you maintain good record-keeping and be prepared for any audit.
  • When you select board members or hire an individual to serve as your executive director, you likely aren’t selecting them for their strong background in bookkeeping and accounting.
  • Get our FREE guide to nonprofit financial reports, featuring illustrations, annotations, and insights to help you better understand your organization’s finances.
  • Bookkeeping tasks like accounts receivable management and general ledger maintenance can be difficult to perform, especially for nonprofit organizations with limited resources, time, and budget.

Otherwise, we will work directly with your CPA or accountant during tax season to ensure they have everything for your 990-tax filing. But when you’re trying to paste together your numbers with a part-time bookkeeper or a volunteer accountant, it’s nearly impossible to get the transparency you need to run your nonprofit organization. Nonprofit organizations often have more at stake from their bookkeeping processes than anyone. In addition, you may be operating on thin margins so simple miscalculations could make the difference between whether or not your organization survives. If basic bookkeeping is all that your organization needs, you’ll need to decide whether to do the bookkeeping in-house or if you should outsource. If you decide to hire and manage a bookkeeper, you’ll also have to decide whether the position is part-time or requires a full-time, full-charge bookkeeper.

Let Us Help You save money as you Grow Your 501c3 Nonprofit!

That helps us ensure your transactions are entered accurately and on time to give you confidence in your decisions. Over the last 13 years, Jitasa’s tax specialists have completed thousands of tax filings for nonprofits of all shapes and sizes. Second, hiring our bookkeepers allows you and your staff to dedicate your time to more profitable tasks, like launching new marketing campaigns or developing new product or service ideas.

bookkeeping for nonprofits new york

© 2023 Accountant websites designed by Build Your Firm, providers of CPA and accounting marketing services. We assess your financial systems, operations and governance and provide detailed recommendations for improvement. You can rely on Brand K https://www.bookstime.com/ Partners to be present at board meetings and other crucial engagements requiring our expertise. In addition to compliance related to your workers and finances, ArtsPool coordinates your core funder and regulatory reports, filings, and policies.

Take control of your nonprofit bookkeeping and accounting.

I’ll make sure your financial data stays up to date and organized and will keep you informed through regular reports. My customized reporting methods will give you a clear picture of your assets and expenses so you’ll see where your money is really going. Ill also evaluate your internal controls and recommend any refinements needed to prevent fraud. With my support, your members and donors will be confident that your financial system is sound and your data is accurate. Finally, board members are personally liable for their custody of the nonprofit organization’s assets.

After you acknowledge this, we will forward you another email providing you access to our client-only web tools & questionnaire. Once you complete this online questionnaire, we will call you within 48 hrs to set up a conference call with your service consultant. During this call, the consultant will confirm information, ask you questions, answer any of your questions, and begin to work on your project.

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Founded in 2010, we pride ourselves on our record of consistently providing best solutions to accounting issues our clients face. Our focus is on the here and now, helping ensure a strong and vibrant future for each of our clients. It’s this forward-thinking, client-centered approach that has guided the firm since 1975 and made MMB one of the most respected and successful accounting firms in the field. Sign up for our free newsletter, specifically created to assist nonprofit organizations. Sean Drakes CPA is an experienced full-service CPA firm with a track record of success working with non-profit organizations in the New York City metro area. If you have the spare time to manage your work and some of the accounting each month but need a little extra help, a part-time bookkeeper might be a good solution for your Nonprofit.

We are passionate about Accounting for Nonprofits and can serve as your outsourced advanced bookkeeping and accounting department. We provide the expertise you need to help your nonprofit serve more people, raise more money, and drive your mission forward. So, your first task is to decide whether you just need compliance (basic bookkeeping), or if you’re ready to graduate to full-service accounting that will help you serve more people and raise more money. Both require very different levels of effort and expertise and the cost for full-service accounting is much higher. However, most nonprofits that make the leap see the value, and experience an ROI rapidly. I understand that maintaining appropriate records throughout the year is critical to obtaining donations for any non-profit.

Get advice from top nonprofit leaders and consultants

If you are not covering expenses, the Profit & Loss Statement can show you where you may be able to cut costs. A. The balance sheet shows a snapshot of the organization’s financial position, including assets and liabilities. Balance sheets show you and your potential donors that funding is being utilized effectively to sustain the organization’s mission fulfilling programs. We’ll implement new technology and processes to modernize your bookkeeping and improve transparency.

bookkeeping for nonprofits new york

A. Accounting allows you to quickly determine your organization’s financial state, and whether you have adequate funding to cover costs. Keeping your income and expenses in order will also help when filing tax documents at the end of the year. A good bookkeeper will help you maintain good record-keeping and be prepared for any audit. However, it’s important Bookkeeping Services in New York to consider that nonprofits require a much more robust system of bookkeeping and accounting than for-profit businesses. Since nonprofits use other people’s money to fund their operations and further their causes, it’s essential to keep spotless financial reports and carefully record where each penny comes from and where it goes for compliance purposes.

Our Mission

❤️ We, the ArtsPool Workers, acknowledge and stand in solidarity with all marginalized communities that have experienced recent and historic violence perpetrated against them. We only have access to/collect information that you voluntarily give us via email or other direct contact from you. Search for an organization registered with the Office of the New York State Attorney General. Some organizations, such as religious organizations, are exempt from registering and may not appear.

  • Brand K Partners is a passionate team of highly skilled individuals devoted to improving the operational efficiencies of small- to mid-sized organizations, specializing in the nonprofit sector.
  • After you acknowledge this, we will forward you another email providing you access to our client-only web tools & questionnaire.
  • If you have the spare time to manage your work and some of the accounting each month but need a little extra help, a part-time bookkeeper might be a good solution for your Nonprofit.
  • My experience working with a wide variety of non-profits enables us to offer the financial oversight and direction to simplify your accounting procedures and monitor resources.
  • Our experienced and friendly team of accountants will answer all queries and help you make timely decisions for maximum organization benefits.
  • If inventories or accounts receivables are important in your nonprofit, balance sheets will clearly point out any significant fluctuations that you should be aware of.
  • Figure out which works best for your organization and start tackling the problems with your books.

We offer services on a full-time or part-time basis and empower clients with the financial tools needed to make the right decisions. Now more than ever, part-time or in-house bookkeeping is not ideal, and switching to outsourced bookkeeping or accounting is becoming a more common solution. Many organizations are concerned about making the jump over to outsourcing, but with today’s advancements in technology, working with a remote expert team is almost seamless. Outsourcing can provide advanced and less costly bookkeeping services than a typical in-house bookkeeper.

As a result, most executive directors and nonprofit board members aren’t qualified to handle the bookkeeping and accounting for your nonprofit. Outsourcing also offers many benefits that you can’t get with an in-house bookkeeper. A key benefit of Outsourcing is that it gives you the ability to customize the services with your bookkeeping needs. For example, outsourcing can potentially offer advanced management accounting and controller functions to receive a complete “virtual accounting department”, and could be what you need at this stage in your growth. An outsourced bookkeeping and accounting service should be able to scale with you by adding full-service accounting when you are ready for it.

bookkeeping for nonprofits new york

And we can offer you on-demand advice on grant utilization, fundraising strategy, tax compliance, and other topics that often trip up growing nonprofits. Even tiny nonprofits have BIG bookkeeping challenges, like cash flow forecasting, grant tracking, and finding the time to reconcile your accounts. Without access to accurate financial reports and expert financial guidance, your organization will never be prepared for what’s coming next. We will ensure that your accounting package is set up correctly so we can generate accurate and informative financial reports directly from your accounting system.

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