accounting and reporting
The Basics of Unrelated Business Income Tax (UBIT) and What Nonprofit Organizations Need to Know
One benefit of being designated a nonprofit organization is being exempt from paying income taxes. Many nonprofits that have approved…
4 Best Practices for Nonprofit Mergers and Acquisitions
Mergers and acquisitions (M&A) are commonly included in an organization’s growth strategy. For-profit companies can use mergers and/or acquisitions to…
5 Metrics To Use To Track Your Nonprofit’s Financial Health
The financial health of nonprofit organizations is an important indicator of their success. Measuring financial health can help an entity…
Religious Organizations’ Post-Pandemic Future and Recovery
COVID-19 changed the world. Religious organizations and other nonprofits, as well as for-profit industries, found themselves facing uncertainty in the…
Updates on the Presentation and Disclosures of Gift-in-Kind Transactions
The FASB issued Accounting Standards Update (ASU) 2020-07 in September of 2020. The purpose of the update is to provide…
Updates on FASB’s Lease’s Standard and How to Implement It
Introduction The FASB issued Accounting Standards Update (ASU) No. 2016-02, Topic 842, on February 25, 2016. The update on FASB…
New Statements on Auditing Standards and How It Affects Nonprofit Audit Reports
Auditing standards do not generally affect an organization when it comes to daily operations. However, it is important for nonprofit…
Are You Outgrowing QuickBooks? 9 Telltale Signs That It’s Time to Upgrade to Sage Intacct
Many freelancers, partnerships, and other small businesses turn to QuickBooks for their accounting software needs. QuickBooks has earned its reputation…
Sage Intacct vs. QuickBooks: Which Accounting Software Is Best To Scale Your Business?
Running a business can be stressful, but there are many options available to make the process as smooth as possible.…
Invoicing Tips for Nonprofit Organization
What Is An Invoice? Invoices are essential to all businesses, including nonprofit organizations, because they coordinate payment collection. An invoice…
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