Category: Bookkeeping

The Statement of Cash Flows shows the cash inflows and outflows from operating, investing, and financing activities of a nonprofit organization over a specific period. It helps assess the organization’s cash flow and its ability to meet its financial obligations. To effectively implement accounting policies, nonprofit organizations should establish internal controls and procedures. This includes… Continue reading 10 Nonprofit Financial Statements Examples You Need to Know

If there is a large difference between both figures, the company may be giving large discounts on its sales. Accrued sales revenue in accounting revenue is the revenue earned by a company for the delivery of goods or services that have yet to be paid by the customer. In accrual accounting, revenue is reported at the… Continue reading What is sales revenue? Ultimate guide on how to calculate it

These notes help to clarify and expand upon the information presented in https://nerdbot.com/2025/06/10/the-key-benefits-of-accounting-services-for-nonprofit-organizations/ the statements, ensuring that users have a comprehensive understanding of the organization’s financial position and activities. The notes may include details about accounting policies, significant events or transactions, contingencies, and other relevant information. They serve as a valuable tool for stakeholders, such… Continue reading Understanding Nonprofit Financial Statements: A Guide for New Board Members

Organizations leverage optical character recognition, or OCR, artificial intelligence, and robotic process automation to streamline operations. These technologies enable real-time validation against purchase orders and receiving documents while maintaining compliance with internal controls and regulatory requirements. The automation helps you keep track of payments and invoices, reduces processing time, and improves accuracy and auditability. Modern… Continue reading What is Invoice Matching? Exploring 2-Way, 3-Way, 4-Way

There are no sanctions or penalties if an organization passes on the compliance check questionnaire. Although not technically an audit, the compliance check aims to monitor an organization’s conformity to the federal law that has jurisdiction. Doeren Mayhew, a top nonprofit audit firm, is here to help you understand your financials, deliver transparency to stakeholders,… Continue reading Understanding Nonprofit Audits: A Beginners Guide

Married couples filing jointly pay this tax on wages that exceed $250,000, while married couples filing separately pay it on wages above the $125,000 threshold. Oregon collects a state corporate income tax at a maximum marginal tax rate of 7.600%, spread across two tax brackets. There are a total of twenty states with higher marginal… Continue reading Oregon Tax Tables 2021 Tax Rates and Thresholds in Oregon