Our  FAQ that provides some useful advice and tips.

1. What’s the best kind of accounting software?      

Ans: Fund accounting software is used by larger organizations and those with more complicated accounting situations. Some organizations can use software designed for households or small businesses.

2. How can I figure out how our organization should divide its expenses?      

Ans: Oversight organizations suggest standards for the proportions spent on program services, administration, fundraising, etc.What’s involved in financial management?

3.Should we use accrual accounting?      

Ans: The accrual method is generally regarded as the standard.

4.How to value donated goods?      

Ans: gift acknowledgement, or receipt, must accurately describe the gift in kind but no monetary amount should be mentioned.

5.How is Unrelated Business Income Tax (UBIT) Calculated?      

Ans: UBIT is based on the corporate income tax rates.The IRS and NPOs have struggled with figuring out what is ‘related’ and what is not.