Non Profit Accounting Blog by Qbix
Nonprofit Accounting Challenges: Mastering FASB
Nonprofit Accounting Challenges due to ASC 606 The long awaited standards update has brought forth nonprofit accounting challenges as well as clarification. Since its release, nonprofits have been struggling with the specifics. You may have read our intro to the new...
NFP Accounting Standards on Late Night
As you may have read in our previous article, there was a FASB update last year that directly impacted nfp accounting standards. Although there were treasure troves of small wave impacts and minutia to mind, a few changes stand out among the rest. We've already done a...
Non Profit Organizations: Eleven to Heaven
Overview Assembling Your Team Fortify Your Financial Schematics Bolstering the Blueprints of Business Before You Go An Ocean’s Eleven Approach to Nonprofit Team Composition Imagine for a moment that you’re planning a heist. Actually, let’s reframe this. Imagine...
Nonprofit Fund Accounting: A Silo Solution
Don’t Forget Your CompassIn business, most everything can be traced to one, quantitative goal: profit. The canonical bottom line exists as a sort of North Star for any profit-seeking business. In the not-for-profit world, things aren’t so cut and dry. For a nonprofit,...
5 Nonprofit Annual Report Essentials
Should You Publish Your Nonprofit Annual Report?YES! Don't be shy. Publishing your Nonprofit Annual Report will put you in the spotlight - in a good way! It's a great approach to spread the word about what your organization accomplished over the last year while asking...
Smile for Nonprofit Transparency Measures
How are you running your nonprofit? Your donors want to know, your competitors want to know, and the IRS needs to know. It all boils down to nonprofit transparency measures. Four Out of Five Dentists Recommend: Transparency There are two components to what makes for...
Nonprofit Financial Statement of Activities, En Garde!
As you may remember from the last post, before learning how to properly run net assets on your lemonade stand, there was brief mention of the Nonprofit Financial Statement of Activities. As you were surely made insomniac by the mystery, fret no longer. It's time to...
Nonprofit Information for Effective Accounting
One very important and often overlooked piece of nonprofit information is the organization’s accounting solution. As a result, not-for-profits mark accounting issues as low priority. They instead “focus on what we actually got into business to do”. Though understandable, this is simply backwards thinking. A thoughtful and robust approach to accounting is an important component to any healthy nonprofit.
Nonprofit Financials: Find the Hidden Lemon
People are often under the misconception that for profit financials and non profit financials operate the same. Even a quick look at the accounting process in both will show that this cannot be the case.
Nonprofit Financial Statements: FASB Update
This most recent FASB update will impact your nonprofit financial statements. The real question is when and to what extent. In short, your organization needs to look out for changes to how it reports net assets. Consequently, this will change how donations are internally documented as well.
Qbix Centre Launch Party in January, 2019
Qbix Accounting Solutions is proud to be located in the Qbix Centre, a coworking space in Macon, GA at 500A Northside Xing. A Qbix Centre membership gives you access to a furnished office space in Macon, GA. Work in a quiet, professional environment without committing...
Top 5 Reasons Nonprofits Outsource to QBIX
The Top 5 Reasons Nonprofits Outsource Their Accounting to QBIX Accounting Solutions - Most of the Executive Directors who contact QBIX to talk about outsourcing their accounting have one thing in common: they have tried to hire talented, nonprofit accounting...
Outsourcing Nonprofit Accounting Solves Hiring Challenges
Outsourcing Nonprofit Accounting Solves Hiring Challenges - Recently Reuters Business News reported that the number of job openings exceeded the number of hires in the month of March. This metric is a bellwether of ongoing hiring challenges for nonprofit...
On the Conference Trail in July and August
On the Conference Trail in July and August: Our summer is very busy. We will be on the road in July and August attending Georgia Association of Chamber of Commerce Executives; Blue Ridge Institute; and Meals on Wheels America. Look for us in the exhibit area, we'd...
NFP Candidates Are Hard to Find
Why You’re Not Finding the Accounting Candidate Your Nonprofit Desperately Needs Update: Since we published this article last September, the Bureau of Labor Statistics shows national unemployment rates continuing to drop. The difficulty in finding qualified accounting...
Welcome Senior Action!
We are pleased to welcome Senior Action (Greenville, SC) as a new client. With a community investment of $1.9 million, Senior Action has been able to: • Serve 3,775 Seniors • Provide 76,918 hot meals • Put 150 Volunteers to work on behalf of Seniors • Organize and...
8 Great Financial Lessons – A Daughter Shares Her Father’s Advice
8 Great Financial Lessons – A Daughter Shares Her Father’s Advice: CNBC posted a wonderful article yesterday. Marguerita Cheng shares the financial lessons she learned from her father who “emigrated from Taiwan in the 1960s with only $17 to his name and the clothes...
Nonprofit Executive Directors: Improve Your Level of Stewardship and Transparency
Improve Your Level of Stewardship and Transparency Improve Your Level of Stewardship and Transparency - Rocky Davidson, CPA talks about nonprofits and the right accounting solutions. If you have grants, multiple funds, multiple locations, need to track multiple fund...
Journey to the Cloud – Qbix’s Beginnings with Sage Intacct
Last October, we were honored to be invited to be interviewed by Sage Intacct. Here is their video of that interview. In this interview Rocky talks about: How one Meals on Wheels organization was able to benefit from outsourcing their accounting What the customer can...
Conference with LeadingAge of Georgia and South Carolina
Will we see you at the Living on Purpose conference? The three-day intensive conference Living on Purpose Conference with LeadingAge of Georgia and South Carolina is in Greenville, SC this year and offers education to the dedicated individuals like you who provide...
Idealware Nonprofit Panel Features Rocky Davidson CPA
Selecting Accounting and Financial Management Software for Your Nonprofit Free Webinar, April 5, 1pm to 2pm Eastern Time The marketplace for nonprofit accounting and financial management software is more competitive than ever. The good news is nonprofits have never...
What is Outsourcing for NFPs?
What is Outsourcing for Nonprofit Organizations? Outsourcing a nonprofit organization's accounting solves a number of issues for Executive Directors and Board Members: Bringing accounting procedures into compliance Aiding you in meeting your fiduciary responsibilities...
FASB Update for Nonprofits – ASU2016-14
FASB Accounting Standards Update for Nonprofits - ASU2016-14 - What is the state of your organization's liquidity, financial performance, and cash flow? These are things that are critical to an organization being able to continue serving its constituents and mission....
Helping Our Seniors in Georgia
Helping Our Seniors in Georgia - There was a very interesting article ‘Growing Older in Georgia’ recently published in GeorgiaTrend. Are the following desirable lifestyle features for Millennials or Seniors? Easy access to stores, restaurants, and offices Ability to...
2018 is Here – What’s in Store for Accounting
2018 is Here – What’s in Store for Accounting 5 Prediction for Accounting in 2018 was an interesting article I came across in The CPA Practice Advisor. The five predictions were as follows: 1. Revenue recognition guidance will cause implementations of SaaS billing and...
Is Accounting the Blind Spot of Your Meals On Wheels?
Is Accounting the Blind Spot of Your Meals On Wheels Nonprofit Organization? - As the Chief Executive of Meals On Wheels you must manage many moving parts: a dynamic distribution network, strenuous compliance that comes with Federal and State funding, the increasing...
‘Tis the Season
The year is beginning to wind down and we're finding ourselves swept up in the holiday mood. The days are shorter. Temperatures are dropping - we've even seen a little snow. We've put together a holiday video that we hope you will enjoy. One Christmas present came...
Working with NFPs, we are inspired every day!
So much to be thankful for! We are blessed in many ways. Foremost among the things we are grateful for is working with nonprofit organizations and helping them keep their accounting up-to-date, accurate, and compliant. Working with nonprofits, we see the best of...
How Meals on Wheels America “Kills Stupid Work”
How Meals on Wheels America “Kills Stupid Work” It’s unusual phrase: “Kill Stupid Work.” But it draws attention to something Meals on Wheels America wants to avoid and serves as a rallying cry. “We don’t spend the time we used to spend in spreadsheets trying to build...
GCN’s Thinking, Planning & Acting Strategically in Today’s Climate?
On Wednesday, November 15 from 9:30 am – 12:00 pm the GCN’s Nonprofit Consulting Group is offering ‘Thinking, Planning, and Acting Strategically in Today’s Climate’ presented by Sir Jose Bright. Qbix will be there – we hope you’re attending as well! We’ll be there to...
GuideStar Enters Partnership With Intacct
You probably know about GuideStar – the world’s largest source of nonprofit information. I am out on GuideStar daily and I’m not the only one – each year, more than 8 million people including individual donors, nonprofit leaders, grant makers, government officials,...
Chapter 3 – “A long list of audit findings greeted me on my first day”
Sometimes the truth of the matter needs to remain anonymous. This is a fictionalized account of some very real experiences. This is an excerpt from the eBook 'Confessions of Nonprofit Executive Directors - Seven Unspoken (but All Too Familiar) Reasons for Outsourcing...
First in The USA AICPA CAAS Designation!
The AICPA has come out with a new designation for accountants who provide Client Accounting Advisory Services, "CAAS". To obtain the certificate, you should certainly be providing those services, which Qbix has been on the forefront of. In addition, there are a...
11 Reasons to Outsource Your Accounting
Top 11 Reasons for Nonprofits to Outsource their Accounting by Rocky Davidson, CPA Each nonprofit is different. But for the most part, these reasons to outsource apply to every nonprofit seeking to better fulfill their mission. Here are the Top 11 Reasons for...
Number 1 Time-Saving Tip for Nonprofit ED’s?
What is the Number 1 Time-Saving Tip for Nonprofit Executive Directors? You reach the end of the day and it’s been exhausting. You’ve moved from one thing to another to another and yet – with all the motion and activity there is little forward progress. You’ve been...
90 Day Makeover
When you outsource your accounting, it’s a little like having a makeover. There’s immediate improvement and a process in place to present your “best self” to the public. It feels great! Generally speaking, most nonprofit organizations could greatly benefit from...
Don't Sweat the Numbers!
Be the smartest person in the room when it comes to nonprofit accounting for
your organization, because Qbix has your back!