Navigating Bookkeeping for Nonprofits: Tips, Tools, and Best Practices
In this episode of The NonProfit Nook, host Wendy Kidd is joined by Kelsey Gleason, co-owner of Educated Bookkeeping, to explore the distinct challenges and strategies of bookkeeping for nonprofits versus for-profit businesses. They discuss the importance of understanding financial reports, customizing chart of accounts, and the significance of training and quality control for volunteer bookkeepers. They also cover practical tips on selecting a professional bookkeeper, using QuickBooks features like classes and projects, and highlight a crucial financial metric every nonprofit board should monitor. The episode aims to provide real tools and strategies to help nonprofit leaders and boards manage their finances more effectively.
Links:
https://www.educatedbookkeeping.com
https://www.instagram.com/educatedbookkeeping/
https://www.bosslevelengaged.com/services-for-nonprofits-nonprofitnook
https://thenonprofitnook.com/
https://www.youtube.com/@BossLevelEngaged
https://www.instagram.com/thenonprofitnook/
00:00 Introduction to Nonprofit Bookkeeping
01:28 Meet Kelsey Gleason: From Teacher to Bookkeeper
02:05 Challenges of Nonprofit Bookkeeping
05:03 Advice for Small Nonprofits Without a Bookkeeper
05:49 Training and Software Recommendations
10:27 Hiring a Professional Bookkeeper
18:59 Understanding Financial Reports
22:08 QuickBooks Tips and Tricks
26:33 Final Thoughts and Key Takeaways
30:37 Conclusion and Farewell
Mentioned in this episode:
Enji
