Trusted Bookkeeping Services For Nonprofits & Charities

bookkeeping for nonprofits Tampa

The selected program should be able to automate everyday tasks and minimize errors. FreshBooks accounting software accomplishes all of these tasks with ease and is an excellent choice depending on your needs. If you want to become a bookkeeper for a nonprofit, try looking at internships that could help you learn more about the processes. Financial statements provide insight into how much money your nonprofit has, where you spend it, and how it’s used. Nonprofit organizations are entities organized and operated exclusively for educational, social, professional, charitable, health, or other nonprofit purposes. While business stakeholders are concerned with profits, nonprofit stakeholders and board members want to know if the resources are properly utilized and allocated.

These financial statements can provide helpful insight into your nonprofit’s financial health so that you can adjust accordingly and plan your next moves. Our bookkeeping team imports bank statements, categorises transactions, and prepares financial statements. At Aenten, our mission is to improve the effectiveness and efficiency of nonprofits. All of our bookkeepers are US-based, Quickbooks ProAdvisor certified, and experts in nonprofit accounting. Fontana CPAs was established as a full service CPA firm to serve the auditing, accounting and consulting needs of non profits and small businesses throughout Tampa, Orlando, Clearwater, Jacksonville, Miami, and the surrounding areas. Depending on the size of your nonprofit organization and the number of transactions, it may be wise to do bank reconciliations once a month.

Looking for a Nonprofit Bookkeeping Solution?

While the basic bookkeeping principles may apply in both cases, certain seemingly small details make significant differences in how a nonprofit’s finances are done. Both for-profit and nonprofit organizations usually comply with generally accepted accounting principles (GAAP). These represent accounting rules that standardize reporting of financial statements.

  • When the time comes to report your financial activity or make a budgetary decision, you’ll be equipped with precise and thorough information.
  • This reduces the possibility of errors and guarantees reliability and accuracy.
  • Fontana CPAs is different from the average Tampa CPA firm because we understand the unique and often complicated accounting requirements of non-profits.
  • Fund accounting, the accounting for nonprofits, is not like a for-profit organization’s accounting system.

Before applying for tax-exempt status with the IRS, you need to register your nonprofit status with your state. One of the first things we need to clarify before digging deeper into bookkeeping tampa bookkeeping for a nonprofit is the difference between nonprofit and for-profit entities. For example, let’s say your nonprofit needs a car to run errands for the organization.

We work with a variety of non-profits in Tampa and throughout Florida:

Not only do these records keep your nonprofit accountable to the government and your donors, but they also empower you to make decisions that maximize your organization’s impact well into the future. Bookkeeping for nonprofits is recording and analyzing financial transactions to ensure compliance with state and federal accounting rules. Exclusive Tampa Bay Member of Nonprofit CPAs, a nationwide affiliation of independently-owned accounting firms committed to delivering exceptional financial and consulting services to nonprofit organizations. We are proud to be recognized for our leading accounting and business development practices and superior service in the Tampa Bay Region.

  • As an equal opportunity provider, Feeding Tampa Bay feeds over 1 million hungry families in West Central Florida.
  • You can always ask your bank about your account options and use those tailored for nonprofits.
  • Websites for accountants designed by Build Your Firm, providers of accounting marketing services.
  • Nonprofit organizations have a tax-exempt status with the Internal Revenue Service (IRS).
  • Not only will you use these records to plan out long-term strategies for your organization, but they’ll also keep you accountable to your donors, board of directors, and government agencies.
  • For example, let’s say your nonprofit needs a car to run errands for the organization.

Our team has the expertise, including ensuring compliance with Government Auditing Standards (Yellow Book) and the Uniform Guidance, to give you peace of mind and let you focus on your mission, rather than your financials. Our clients choose Acuity for its customer service-oriented culture, confident that their expectations will be exceeded by any and everyone within our company. So, no matter what life throws at us — whether someone moves onto new opportunities, goes on vacation, or gets sick — you’ve got an entire team of experts on your side, not just one.

Looking to unwind? Try this Tampa gem

As mentioned, nonprofit organizations have tax-exempt status, meaning they don’t have to pay federal taxes to the IRS under Section 501. This section regulates the tax status of charities, religious organizations, and nonprofits. Bank reconciliation is the process of ensuring an organization’s records (balance sheet, general ledger account, cash flow, etc.) are accurate.

bookkeeping for nonprofits Tampa


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