I don't see a specific sub-section for general bookkeeping questions so excuse me if I am posting this in the wrong section. I am meeting with a new client (a church) Saturday concerning general bookkeeping issues. The woman I am meeting with wants me to help them clean up their books. More specifically we are meeting Saturday concerning issues/questions concerning liability accounts and accounting for designated funds. I spoke to her on the phone yesterday and she was rather vague on what she needs exactly. I know they are using QBs. I have a few clients but have never dealt with a not-for-profit specifically. Any ideas on what her questions might be? Any research I can do beforehand to better help her? I want to be as prepared as possible. Thanks!
It is probably way to late for your needs, but I have worked for a non-profit for many years and I would say the number one thing that needs to be considered when working with designated funds is having in writing to protect the organization and yourself, any meet minutes that designate these funds or source documents from donors who are designating the giving. Usually non-profits will have something in their receipting that states every effort is made to use the funds as the donor directs but the organization may repurposed their use to meet the organizations funding needs...however, they word that. As the bookkeeper, you need such direction in writing from those who are authorized to make such decisions.