Running a non-profit can be a time-consuming process. After all, you are working on creating a sustainable business that addresses a need within your community. Your passion is making a difference in the lives of others. Like any other business, however, there are still the financial details that have to be handled, including managing the aspects of your accounting.
As a non-profit, it can be difficult to know what you need to make sure that your accounting is following all the standards and best practices for non-profits. Here are 3 ways to find the right accounting firm to help you manage the finances of your non-profit.
Recognize Your Special Needs
Your choice of accountant is important, because they need to be familiar with all the rules and laws relating to non-profits. If they do not have that experience with all aspects of the non-profit lifecycle, then they could potentially make mis-steps that cost your non-profit.
At some point in the future, you may decide that you are ready to close your non-profit. The right accountant will have experience with the starting and shuttering of a non-profit to make sure that no steps are missed and you are not left with penalties as a result.
Can Assist You in Putting Together Business Systems
Non-profits are held to a high business standard. Working with an experienced accountant, you can set up the systems, processes, and procedures to make sure that you are meeting those standards. They can also help you with any employee documentation and payroll, as well as helping you to manage and track specific documentation and records.
Need to Be Up to Date With Tax Code
It is critical that your accountant be up to date regarding the tax code. Proper reporting is necessary to make sure that you do not have to pay certain taxes in keeping with your non-profit status. They should also be able to make you aware of changes and help you to prepare for them accordingly.
As your non-profit begins to grow, it is important to have an accountant that can help you through the process and manage your books effectively. Our experienced staff has been working with non-profits since 1978 and we can help you to navigate the next steps with your non-profit. Contact us today for a consultation and to see how we can assist you in the financial aspects of your non-profit business.
James P. Richardson, CPA, Inc. is an accountancy firm founded in 1978 that specializes in working with non-profit organizations. No matter what stage your non-profit is in, we understand your needs and serve them. Whether your business is for-profit or non-profit, we make sure it is run efficiently, guided by best practices. Our firm brings a worldview of contribution, determination, and hard work to all client engagements.