Strong financial governance is a responsibility that you have to your funders, donors, board, and the community. Therefore, the year-end accounting process is an activity that every nonprofit has to undertake to ensure proper financial management.
The year-end accounting process can be challenging for organizations. From compiling documents to supporting the audit, there is a range of tasks that your team will need to accomplish to wrap up the year properly. With the evolving COVID-19 situation that’s impacting organizations, there are also additional accounting considerations that your organization needs to account for and disclose in your financial statements.
'Year-end Nonprofit Accounting in a Covid World' Webinar
This March, we partnered with our friends at Keela on the 'Year-end Nonprofit Accounting in a Covid World' webinar to chat about common reporting challenges faced by nonprofits and what organizations can do to close their year more efficiently.
During the webinar, we dived into:
- Common challenges that not-for-profits face during the year-end process
- Tips on closing the year more efficiently
- Key financial reports to generate for board members
If you missed out on our live webinar session, you can watch the webinar recording on-demand and download the slides below. Enjoy!
How We Select and Evaluate Our Recommended Software
We thoroughly research and test the apps we include in our regular workflow for Client bookkeeping services. After deciding on criteria for evaluating the software and then researching the app itself, we tested the app, noting its strengths and weaknesses. We then work with the app for at least a few weeks before deciding whether to recommend it to our readers. We use the software as it was designed for its intended tasks. For a detailed walk-through of how we select and evaluate software, please see the details of our process.
