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Common Accounting Pitfalls for Startups to Avoid

Accounting is a critical element when launching a successful business venture. Unfortunately, it’s also an area where startups tend to make mistakes. Here are some common (and avoidable) errors that entrepreneurs should watch out for. Failing to Track Expenses...

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Why You Should Connect with Giving Circles

Giving circles — generally small groups of people who make a charitable impact by pooling their money — are growing in popularity. If your nonprofit isn’t already actively appealing to them, you need to get up to speed because they’re capable of providing substantial...

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Coming Soon: Five Accounting Rules that Take Effect in 2023

It can be challenging to keep track of which accounting rules are changing, when the changes kick in and for which types of entities. Plus, implementing the necessary revisions to your organization’s procedures and systems often takes time and resources. Here are five...

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Give Your Organization’s Members a Reason to Renew

When inflation is high, it’s common for people to cut expenses by deciding not to renew subscriptions and memberships. For charities and associations that depend on membership fees, this trend can be distressing — if not catastrophic. If your nonprofit’s membership...

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Five Benefits of Outsourcing Your Accounting Needs

CPA firms do more than audits and tax returns. They can also help you with everyday accounting-related tasks, such as bookkeeping, budgeting, payroll and sales tax filings. Should your organization outsource its accounting needs? Here are five potential advantages to...

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Tips to Help Prevent Accounting and Tax Errors

Although failing to file a Form 990 with the IRS when required to do so is probably a more serious mistake, filing it with data errors isn’t recommended. Similarly, your nonprofit should strive to be as accurate as possible when preparing accounting and other tax...

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Update on Remote Auditing

Remote work became a buzz topic when the United States went into lockdown mode in 2020 to combat the effects of COVID-19. Like many companies, audit firms quickly shifted to remote auditing with video conferencing and drones. Now that the country has largely reopened,...

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