One of the biggest struggles nonprofits face is getting financial statements that enable trustworthy decision making and ensuring compliance. Purple Margins advises nonprofits on all aspects of finance—from setting up financial systems all the way to board advisory.
Our Nonprofit Finance Services
Nonprofit Financial System Setup
The only way you can meet your financial reporting and compliance needs is to ensure that QuickBooks (or your system of choice) is set up properly. Otherwise you run the risk of generating inaccurate statements, leading to unintended consequences. Purple Margins will ensure that your nonprofit requirements, like grant reporting, restricted funds, and functional expense reporting, are delivered accurately and on time.
Nonprofit Virtual CFO
Get regular, skilled reviews of your financial statements; tailored guidance on financial planning and budgeting; and assistance in ensuring compliance. Purple Margins uses a consultative approach with simple and clean dashboards to understand your nonprofit’s financial situation.
Nonprofit Bookkeeping
No more confusing and endless struggling with QuickBooks, and no more chasing volunteers to ensure statements are on time for board meetings. Purple Margins provides regular bookkeeping with process technology to ensure that you always have up-to-date financial statements at your fingertips.
Compliance Check Up
Your nonprofit still has significant compliance requirements despite certain usual tax exemptions, including 990s, payroll withholding, and state filings. Purple Margins reviews your work and ensures that all necessary documents are correctly filed. We put you on track, and keep you on track!
Don’t wait. Talk to our nonprofit finance specialists today.
Our Viewpoint
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Internal controls protect nonprofits from fraud and incorrect financial statements.
Internal controls are the processes and policies that a nonprofit follows to ensure its financial statements are correct, its assets are safe and accounted for, and that it followed all necessary laws and procedures to ensure compliance.
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Nonprofit Accounting 3: Setting up the Chart of Accounts in QuickBooks Online
Nonprofits using QuickBooks Online (QBO) face setting up a chart of accounts as one of their first tasks. While QBO provides a chart of accounts (CoA) target out of the box for non-profits, it needs to be customized for most non-profits. In this article, I walk through the steps on how a nonprofit should think…
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Nonprofit Accounting: 2 Ways of Grant Budgeting in QuickBooks Online
Non Profits are usually funded through individual donations or grants. Grants are usually larger sized funds and require grant budgeting and careful accounting to show how the granted funds were planned for and used. With QuickBooks Online, non profits can track how they used the grants that they received.