How to Perform Year-End Accounting for Nonprofits

Closing the financial books for an organization requires accuracy, attention to detail, and a knowledge of some advanced accounting principals. For many nonprofit organizations, especially smaller ones operating on a shoe string budget, hiring a full-time accountant may be out of their reach. 

To help these small nonprofits properly accomplish their year-end closes, Aplos Software, LLC, which makes online nonprofit accounting and reporting software, will host a series of free webinars for nonprofits about year-end accounting procedures and how to prepare for the new year.  The one hour webinar will be held on December 19 at 10 a.m. PST, January 2 at 10 a.m. PST, and January 7 at 2 p.m. PST.  Webinar registration is currently available through Aplos Software’s website.

The “Year-End Accounting Tips to Start Your New Year Right” webinars will instruct church and nonprofit bookkeepers about key year-end accounting issues such as:

  • Year-end accounting procedures for accurate fund accounting
  • Common tasks unique to churches and nonprofits
  • Tips on how to start accounting for your new year
  • Essentials for switching your accounting software at the start of a new year

Aplos will also share free resources for closing the fiscal year including its popular Year-End Checklist, as well as an article that explains more in-depth year-end accounting practices by Alex Acree, Aplos Software’s head of support. The Year-End Checklist is available here:

“Closing out the year’s accounting can be simple, but it helps to have a plan and know the common pitfalls,” said Tim Goetz, co-founder of Aplos Software. “We want to help each organization to be prepared and smoothly transition to the new year, especially those that don’t have the benefit of a professional accountant on staff.”

Nonprofits should also seek the advice of a credentialed accountant or tax professional to help ensure the accuracy of their financials and ensure compliance with any reporting requirements.