If you’re running a not-for-profit or charity, you need an accountant with expertise in not-for-profits.
What should an accountant provide to a not-for-profit or charity?
Financial mentoring on the business aspects of the organisation
– Business process, applying for grants, paying suppliers, paying employees
– Government grant acquittal process (throughout the term, not just at the end)
– Transparency on how your organisation is running: cash forecasts, budgeting, delegations of authority, financial statements, board reporting
– Accurate, timely and efficient data collection
– Understanding the organisation’s purpose – it’s not just about the numbers
Who does the accounting for your not-for-profit? Are they actually an expert in not-for-profit, or are they just applying accounting principles from the business world to your not-for-profit?