Running a non-profit is no joke. From the endless hours you put in each day to your neverending to-do list, there never seems to be enough time in the day. With so much on your plate, it can be easy to let your bookkeeping fall to the wayside, but this can negatively impact your nonprofit’s finances.
Poor money management is one of the top reasons nonprofits fail, so you must have thorough bookkeeping and visibility into your money in the bank. But can you be excepted to manage the books when handling your non-profit? It may be time to consider bookkeeping services.
Ask yourself these questions if you are questioning whether your nonprofit should hire a bookkeeping professional:
- How much of your time is spent on bookkeeping?
- Are you constantly putting off bookkeeping tasks and falling behind?
- Do you enjoy balancing your books?
- Do you have any concerns about the accuracy of your bookkeeping?
To help you determine if outsourcing non-profit bookkeeping is the right choice for your business, AA Tax & Accounting Services has put together a list of reasons.
Why Nonprofits Need Professional Bookkeeping
Whether you own or manage a non-profit, you likely feel time-poor. Running a business is stressful, leaving you with little time for the administrative side of things. Instead of being pulled in a million different directions, you may need to delegate some items on your neverending to-do list. Hiring an outsourced bookkeeper to focus on their day-to-day job instead of focusing on the business’s finances is vital.
Here are a few ways nonprofits can benefit from professional bookkeeping.
Minimize Financial Errors
When your mind isn’t fully focused on the task at hand, it can be easy for mistakes to happen. If your team balances their own books, you need to ensure the individual has enough time and focus to spend on the task.
Working with a professional bookkeeper ensures that you have a specified individual focusing all their time and attention on balancing your books. As a result, you’re less likely to experience common bookkeeping mistakes such as data entry errors, double entries, missing entries, etc. If not, you may find yourself with inaccurate bookkeeping — which can be detrimental to the financial health of your non-profit!
Focus Your Efforts
There’s nothing more frustrating than being pulled in a million different directions. When running a non-profit, you often spend less time on the parts of the job you love and more time on the administrative side of things. Why focus your efforts on the part of the business you are least passionate about?
Reignite your passion in your non-profit by focusing your efforts on the parts of the business you enjoy the most. This will be better for you but will be beneficial for the company. A professional bookkeeper can handle the financial side of things while you focus on growing the brand that you know and love.
Call AA Tax & Accounting Services for Non-Profit Bookkeeping
For nonprofit bookkeeping services, you want a team backed with years of experience in the nonprofit world.
AA Tax & Accounting Services offers cash flow management, financial statement preparation, and budget forecasting for nonprofits to ensure that you always know where your organization’s money is going. With proper bookkeeping, you can ensure your nonprofit will be set up for success from the get-go.