Most of the time when a Non-Profit or Not-for-Profit is introduced, it elicits associations with their overall mission or goal. The organization may be raising funds for research, services-tax-leftscholarships or providing meals to those in need. Whatever the mission or purpose of the Non-Profit, proper accounting is essential to long-term abilities to serve that mission.

Reliable accounting is vital for the success of any organization, and most definitely for Non-Profits that often must stretch every penny for essential programming. Accounting needs vary based on the size and programs of the organization. For example, a large Non-Profit might maintain an in-house staff that handles the majority of the bookkeeping functions. Often, these organizations can benefit from outsourced accounting services for month-end financial statements, tax preparation and audits.

On the other hand, smaller Non-Profits may be working with a limited budget or might simply not have the manpower to deliver on all of these accounting functions. Often times in Non-Profits, cross-functional roles fill the organization. It’s often an all-hands-on-deck situation. These types of organizations benefit from a partnership with accounting firms for monthly financial statements, management and general bookkeeping responsibilities.

No matter how big or small a Non-Profit is, professional and accurate accounting is the key to success. Money comes in and out with narrow operating lines and a skilled accounting firm can relieve the often-daunting financial tasks. This way the organization can get back to the heart of their work.

At KLP, we offer services to all Non-Profits—big or small. What are your thoughts or tips regarding Non-Profit accounting? Leave a comment below.