The number one reason nonprofits fail is poor money management. Your charity has expenses and if you don't administer your limited resources carefully, the organization will collapse. TaxSlayer Books bookkeeping software helps you handle the financial side of your charitable organization.

When Should You Start Using Bookkeeping Software?

The time to start tracking your income expenses is now.

Are you an established charity who has survived until now with jury-rigged solutions on paper or computer spreadsheets? You will appreciate how much easier TaxSlayer Books makes it to categorize income and expenses by funder, establish and follow a budget and administer payroll.

Are you a new nonprofit who just started offering services? Careful tracking of income and expenses will allow you to spend your limited startup funds efficiently. Establishing a history of fiscal responsibility will make you more attractive to future funders.

Is your nonprofit venture still just a gleam in your mind's eye? Financial planning should begin well before the money starts flowing. It makes it easier to raise initial funds and allows your opening months to proceed more smoothly.

What Can Bookkeeping Software Do For Nonprofits?

There are financial software applications out there designed specifically for nonprofit organizations. They are uniquely suited for the special needs of nonprofit finances including features such as donor tracking. They also cost thousands of dollars. TaxSlayer Books can do almost everything these special software packages can do at a fraction of the cost.

Major donors want to know where their money is going, and TaxSlayer Books makes that easy. Create budget categories broken out by funder and use our custom reports to generate presentations that show your donors not just how your organization is doing but how their dollars are being used.

Nonprofits are under extra scrutiny from the IRS to ensure they are obeying all the laws. Bookkeeping software allows you to document your financial activities in case of an audit, possibly saving your organization from substantial fines.

Learn More About Bookkeeping

Most nonprofits have amateur bookkeepers, people who have been thrown into the financial side without any more experience than balancing a checkbook. Our bookkeeping software takes a lot of the burden of tracking financial transactions, but we suggest nonprofit bookkeepers take time to educate themselves. A class at a community college or a book on nonprofit bookkeeping can keep you from making critical mistakes.

All businesses, profit or nonprofit, should periodically consult with an accountant. Unlike a bookkeeper, an accountant has extensive knowledge about best financial practices and tax laws that can help an organization run more efficiently and avoid inadvertently violating the law. Our accounting software is good, but it doesn't take the place of the advice of an accountant.

With the right financial attitude and armed with TaxSlayer Books bookkeeping software, you can have a nonprofit organization that is financially stable and able to offer needed services for years to come.