As MCF's cash flow is not uniform throughout its fiscal year, A4$ provides forecasts of cash flow position to insure funds availability when needed.ĭuring their tenure with MCF and our experience with their outstanding professional services, I enthusiastically recommend Accounting 4 Success as an accounting services provider. To assist MCF with optimum cash disbursements, A4$ set up the methodology to calculate true cash balances in order to prioritize vendor disbursements. Excel Details: A chart of accounts is commonly numbered as follows: This means that any assets owned by your nonprofit (like bank accounts, investments, property, and equipment) should be numbered in the 1000 range. After purchasing QuickBooks Premier, you can choose between the general business edition or an industry-specific edition, such as the nonprofit edition, for. A4$ prepares monthly bank reconciliations for MCF's various operating accounts, customer payments via credit cards and MCF's two major investment managers. Excel Details: A Sample Chart of Accounts for Nonprofit Organizations. QuickBooks Nonprofit Edition includes a unified chart of accounts (UCOA) for nonprofits, donation and pledge tracking, and reporting of revenue and expenses by function and program service. A4$ also provides assistance in the preparation and completion of annual budget reports.Īnother important A4$ task is in the area of cash flow management. As necessary, A4$ provides financial interpretation (what do the numbers mean) and supporting analysis to staff, the ED and MCF's finance committee.
NONPROFIT CHART OF ACCOUNTS QUICKBOOKS PLUS
To accomplish these tasks, given certain limitations of QB, A4$ created a unique set of QB and Excel-based reports including actual results compared to prior year and current year budgets, plus special analyses as required by the MCF finance committee.
As needs arose, they worked with MCF staff to understand the events behind each transaction to ensure the utmost accuracy.Ī4$ has worked with the MCF treasurer, the executive director (ED) and internal bookkeeper with the preparation of financial statements which accurately reflect the type of reporting unique to MCF (a land trust). Through training of our staff and constant monitoring they have ensured that all transactions are properly recorded. Through their efforts, they have improved and maintained the integrity of our QB books, including the chart of accounts and all related QB items. Their expertise in both QuickBooks (QB) and Excel has been outstanding. It is with great pleasure and our utmost respect that Monmouth Conservation Foundation (MCF) enthusiastically endorses the services of Accounting 4 Success (A4$).Ī4$ has provided accounting system support to our organization for over two-and-one-half years. Monmouth Conservation Foundation enthusiastically endorses the services of Accounting 4 Success (A4$)
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