Accounting for your industry
Accounting for non-profit organizations.
Financial reporting and accounting processes for organizations accountable to boards, members, funders and their communities.
- Board reporting
- Funder requirements
- Financial statements
Questions worth getting ahead of
- Tracking restricted and unrestricted activity
- Preparing information for the board
- Clarifying funder reporting requirements
Organize records around accountability
Explain how the organization is funded and which agreements restrict the use of funds. The reporting process should help management and the board understand balances, commitments and the evidence behind reported activity.
Confirm the required engagement
A funder or governing document may specify an audit, review or another reporting requirement. Obtain the exact wording before commissioning financial statements. Non-profit status and registered-charity status are not interchangeable; identify the organization’s legal and tax status during intake.
Support to discuss with Versa
Financial statements
Year-end financial statements your bank, landlord or investors can rely on. (Formerly called Notice to Reader.)
What it involves AccountingBookkeeping
Monthly books in QuickBooks or Xero, reconciled to the bank and ready for tax time. We can also set up or clean up your system.
What it involves AccountingPayroll
Your team paid correctly and on time, with source deductions, remittances and year-end slips handled for you.
What it involvesStart with the way your business works
Tell the team how you earn revenue, which systems you use, how current your records are and what decision or deadline is coming next. That context helps identify the work to discuss — rather than assuming every business in your industry needs the same package.