Accounting Services for Nonprofits
Managing the finances of a nonprofit organization requires specialized knowledge and expertise. At Telos CPAs, we offer tailored accounting and bookkeeping services designed specifically for nonprofit organizations. Our team understands the unique challenges nonprofits face, and we are here to help you navigate them with confidence.
Expert Nonprofit Bookkeeping Services
Accurate bookkeeping is the backbone of a successful nonprofit organization. Our bookkeeping services are designed to meet the unique needs of nonprofits, ensuring that every financial transaction is recorded and managed correctly. Here’s what our nonprofit bookkeeping services include:
- Entering Data: We meticulously enter all financial data, ensuring that your records are accurate and up to date.
- Recording Donations and Program Fees: Our team accurately records program fees and contributions, ensuring every source of revenue is tracked and properly categorized.
- Managing Payroll: We handle payroll management, including recording wages, payroll taxes, and employee liabilities, ensuring timely and accurate payments to your staff.
- Processing Vendor Invoices: We enter vendor invoices and review all documentation to ensure accuracy and compliance before processing payments.
- Writing Checks and Executing Electronic Payments: We manage the disbursement of funds, including writing checks and executing electronic payments.
- Credit Card Transactions: We enter and classify credit card transactions, including those that are grant-eligible, ensuring accurate tracking and reporting of expenses.
- Matching Invoices: We ensure that all invoices are matched and reconciled with payments, maintaining accuracy in your financial records.
Our nonprofit bookkeeping services provide the foundation for strong financial management, allowing you to operate smoothly and transparently.
Comprehensive Nonprofit Accounting Services
At Telos CPAs, we provide a full range of accounting services specifically designed for not-for-profit organizations. Our services ensure that your financial operations run smoothly and are in compliance with all regulations. Here’s what our nonprofit accounting services include:
- Verifying Entries: We verify all financial entries to ensure accuracy and reliability in your financial records.
- Interpreting Financial Decisions: Our team helps interpret complex financial decisions, providing you with the insights needed for strategic planning.
- Generating Reports: We produce detailed financial reports that are essential for transparency and decision-making.
- Conducting Internal Audits: We perform internal audits to ensure your financial operations are in line with best practices and regulations.
- Filing IRS Forms: We handle all necessary IRS forms, ensuring your nonprofit meets all tax-related obligations.
- Overseeing GAAP and Internal Controls: We oversee compliance with Generally Accepted Accounting Principles (GAAP) and establish internal controls to safeguard your organization’s finances.
With our expertise in accounting for not-for-profit organizations, you can focus on your mission while we manage your financial health.
Strategic Financial Leadership Without the Full-Time Cost
In today’s complex financial landscape, nonprofit organizations need strategic financial leadership to guide them through budgeting, forecasting, and financial decision-making. However, not every nonprofit has the resources to hire a full-time Chief Financial Officer (CFO). That’s where our Fractional CFO Services come in.
Our Fractional CFO services provide your organization with access to expert financial leadership on a part-time or as-needed basis, giving you the benefits of a CFO without the full-time cost. Here’s how our Fractional CFO services can support your nonprofit:
- Strategic Planning: We work closely with your leadership team to develop long-term financial strategies that align with your mission and goals.
- Budgeting and Forecasting: Our experts help you create detailed budgets and forecasts, ensuring your nonprofit is financially prepared for the future.
- Financial Analysis: We provide in-depth analysis of your financial statements, identifying trends and opportunities for growth or improvement.
- Grant Management: We assist in managing grant funds, ensuring compliance with donor restrictions and maximizing the impact of every dollar received.
- Board Reporting: We prepare comprehensive financial reports for your board, helping them make informed decisions that drive your mission forward.
- Risk Management: We help identify and mitigate financial risks, protecting your organization’s assets and ensuring long-term sustainability.
Our Fractional CFO Services offer the strategic guidance your nonprofit needs to thrive, without the burden of a full-time executive salary. Whether you’re looking to improve your financial management, secure funding, or plan for growth, our team is here to help.
Comprehensive Tax Compliance to Keep Your Nonprofit on Track
Navigating the complexities of tax compliance is a crucial aspect of managing a nonprofit organization. At Telos CPAs, we offer specialized tax services designed to meet the unique needs of nonprofit organizations, ensuring you remain in good standing with federal and state tax authorities.
Our tax services include:
- Form 990 Filing: We prepare and file your annual Form 990, ensuring accurate and timely submission to the IRS. We help your organization maintain its tax-exempt status by thoroughly completing the form and addressing any questions that may arise.
- State Tax Filings: In addition to federal filings, we manage your state tax obligations, ensuring compliance with all relevant state laws and regulations. We handle the preparation and submission of required state tax forms, keeping your nonprofit in good standing across all jurisdictions.
- 1099 Filing: We assist with the preparation and filing of 1099 forms for your contractors and vendors. Accurate 1099 filing is essential for maintaining compliance and avoiding penalties.
Our team stays up-to-date on the latest tax laws and regulations affecting nonprofit organizations, so you can focus on your mission without worrying about tax compliance. Whether you need help with federal filings, state requirements, or 1099s, Telos CPAs has you covered.
Expert Guidance When You Need It
Running a nonprofit can be challenging, especially when it comes to managing your own bookkeeping and accounting. Whether you’re handling these tasks in-house or simply need some occasional expert advice, our Hourly Consulting Services are here to support you.
Our Hourly Consulting Services are perfect for nonprofit leaders who want to maintain control over their financial operations but need guidance from time to time. Here’s how we can help:
- Bookkeeping Assistance: If you’re managing your own books but encounter issues or have questions, our experts are available to provide step-by-step guidance, helping you keep your records accurate and compliant.
- Accounting Support: We offer advice on complex accounting issues, such as financial statement preparation, grant management, or audit preparation, ensuring you have the knowledge to manage these tasks effectively.
- Software Training: Need help with accounting software? We provide personalized training sessions to help you make the most of tools like QuickBooks Nonprofit or other accounting platforms tailored to your organization’s needs.
- Financial Analysis: Get a professional review of your financial statements or budgets to identify areas for improvement and ensure your nonprofit is on the right track.
- Compliance Advice: Unsure about regulatory requirements? Our consultants can help you navigate nonprofit-specific accounting and tax rules, ensuring your organization remains compliant.
With our Hourly Consulting Services, you gain access to expert knowledge and advice whenever you need it—without the commitment of ongoing service contracts. Whether you need a one-time consultation or occasional support, Telos CPAs is here to empower you to manage your nonprofit’s finances with confidence.
Benefits of Our Not-for-Profit Accounting Services
Choosing Telos CPAs for your nonprofit accounting and bookkeeping needs means partnering with a firm that is genuinely passionate about supporting the missions of nonprofit organizations. Our commitment to helping nonprofits succeed is at the core of everything we do. Here’s why nonprofits trust us:
- Passion and Commitment: We are deeply dedicated to the nonprofit sector, and our passion for your mission drives us to provide the best possible financial services. We understand the unique challenges you face and are committed to helping you overcome them.
- Specialized Experience: With years of experience working with nonprofits, we know the ins and outs of not-for-profit accounting services.
- Personalized Service: We tailor our services to fit your organization’s specific needs, ensuring you get the support that’s right for you.
- Cutting-Edge Technology: We utilize the latest accounting software and tools to provide efficient and accurate services.
- Commitment to Your Mission: We’re more than just accountants; we’re your partners in achieving your mission and making a difference.
Nonprofit Bookkeeping & Accounting Service Packages
Small Nonprofit
- Chart of Accounts Setup/Review
- Expense and Revenue Recording
- Monthly Account Reconciliations
- Monthly Financial Statements
- Year-End 1099s Preparation
Midsize Nonprofit
- Chart of Accounts Setup/Review
- Expense and Revenue Recording
- Monthly Account Reconciliations
- Monthly Financial Statements
- Year-End 1099s Preparation
Large Nonprofit
- Chart of Accounts Setup/Review
- Expense and Revenue Recording
- Monthly Account Reconciliations
- Monthly Financial Statements
- Year-End 1099s Preparation
