Bookkeeping

The FASB Not-for-Profit Advisory Committee convened for its semiannual meeting on March 20, 2025. For CFOs and finance leaders in the sector, the meeting shed light on key areas where changes may be forthcoming and where advocacy or preparation may be needed. Nonprofits play a critical role in our society and we are passionate about […]

Some nonprofit leaders may even be reluctant to show a surplus in their books, fearing the perception that they are not putting their resources to good use. When budgeting, nonprofits sometimes make the mistake of forgetting to account for in-kind donations or volunteer hours. Your board members should have a direct role in developing cash

This exempts you from paying sales tax on goods you plan to resell to end customers. Ensure you have the tax exemption certificate from every state where you https://www.bookstime.com/articles/how-to-become-a-bookkeeper have nexus and must charge sales tax. Charge taxes, collect taxes, pay taxes, sales taxes, VAT, income taxes, where’s the end? With so many terms surrounding

The EFTA requires banks to limit the amount of money that can be withdrawn from your account during any given time period. Most banks set the limit at $200 or $300 each day, meaning you cannot electronically withdraw more than this amount in cash within 24 hours. Whereas a credit involves depositing, or “pushing,” funds