Whether your organization receives large foundational grants, long-term reoccurring gifts, or individual donations, it needs a dedicated bookkeeping plan. Keeping track of every dollar that comes in as income and all expenses is not only good practice, it’s required for grant applications and annual reporting.

Our research study showed that only 25% of nonprofits had enough cash flow to cover expenses due to the COVID-19 pandemic. Without up-to-date and accurate accounting, organizations don’t know their cash-flow status and cannot make objective decisions.

Failure to maintain accurate books can result in poor audit results, which turn donors away. Poor bookkeeping can also lead to loss of funding and, potentially, loss of tax-exempt status. Good bookkeeping practices and clean audits provide accountability and show potential donors that you will be a good steward of their gift.

Organizations of every size should have a complete bookkeeping plan. BryteBridge has a dedicated bookkeeping team ready to do the heavy lifting on your books so you can focus on the organization’s mission.