Jitasa Nonprofit Blog

Non-profit accounting tips

Cash is king. Make sure to take the time to monitor your cash flow. In these times it is especially important to stay on top of your finances monthly, if not weekly. Don't let cash shortages sneak up on you.

Closing the books. It can be a really helpful discipline to "close the books" once they are reconciled for a period, for example at the end of the month. After a period is closed, most accounting software, including Quickbooks, can be set up to require a password or provide users with an alert before editing 'closed' transactions. This may help prevent inadvertent changes to your past which can throw off reconciliations, financial statements and more. Just the simple act of closing your books regularly can help keep them nice and clean.

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