Nonprofits organizations must fulfill certain legal requirements to operate validly, and bookkeeping is one of them; it is something essential to manage its funds.
Even though it has differences with profit organizations, bookkeeping in nonprofits determine their accounting model; it analyzes the financial status in a fiscal year (including donations, payments for specific jobs, re-invest of money, etc.).
Also, because of the tax-exempt status, nonprofits require a different kind of bookkeeping services. So, in this article, we will show you the top 3 of them.
Online bookkeeping services
Sometimes, the organization’s directors select someone as “the bookkeeper,” whose primary mission is to prepare financial statements and record all the nonprofit’s financial transactions.
This person should have skills in accounting, but the directors might also select someone they trust and who does not necessarily have a lot of experience in that area.
On the other hand, before technological developments, financial records were written down in paper. Now, there are many software and portals that do this job electronically, with accuracy.
In any case, if you cannot find someone to do this labor for you, here are three companies that offer online bookkeeping services exclusively for nonprofits organizations:
This company operates in every state of the US, it opened to the public in 1995, and since then they have offered legal assistance to nonprofits, including the bookkeeping service.
If you decide to work with them, you will have a virtual advisor to guide you through the labor of maintain your organization’s accounting books updated.
This company also uses the “QuickBooks Online Software” to record your financial status. It is a virtual service that gives you access at any time if you have an internet connection.
In this platform, besides reviewing the financial records, you can also generate financial reports, print checks synchronized with the bank account, among others.
If you want to know more, contact Foundation Group by calling this number: (888) 361-9445.
Another company that may help you with accounting is Jitasa, which also offers its services all over the country. It does not matter the size of your organization; they have plans for small, midsize, and large nonprofits.
Like the Foundation Group, Jitasa uses the QuickBook platform to record the data. This is currently the most used software for bookkeeping services.
If you hire them, you will get financial assistance from a group of qualified accountants whose principal duty is to help you solving the ordinary and extraordinary situations related to the nonprofit’s finances.
If you are interested in working with them, or have doubts about their plans and fees, you can contact them by calling (877) 354-4775, or checking their website.
➡ READ ALSO: How to apply for 501c3 nonprofit status.
This is an American company that was founded in 2009. Unlike the other two companies, Aplos does not use QuickBook; they have created their software to offer a bookkeeping service exclusively for nonprofits organizations.
- A secure online track for your funds and the donations you receive.
- A calculator that will help you to know the possible deductions to your incomes.
- A tool to generate reports of your financial status.
- And even the option to create “tags” to administrate the funds.
On the other hand, Aplos currently has promotions in their bookkeeping plans, and you can even get a free trial.
If you would like to receive a quote for their work, you can contact them by calling at this number: 1.888.274.1316.
For years I have studied the irs regulations regarding forms and taxes. All the information in this blog is sourced from the Internal Revenue Service (Irs) of the United States government .
Salesforce Certified SALES & SERVICE Cloud Consultant in february 2020, Salesforce Certified Administrator (ADM-201) and Master degree in “Business Analytics & Big Data Strategy” with more than 13 years of experience in IT consulting.