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Many nonprofit organizations both large and small need to undergo a financial statement audit every year. Preparing for a nonprofit audit can be overwhelming and anxiety-filled, especially if it’s your first audit or you don’t have a strong and experienced financial team. How to prepare for your nonprofit audit: Step 1: The Roadmap.
Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofitaccounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. A bookkeeper records and organizes financial data; an accountant interprets and presents that data. .
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Modern nonprofit leaders are always looking for ways to use technology to make everyday tasks easier. One of the most sought-after tools is a platform or software to integrate your fundraising and accounting data seamlessly. Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance.
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