Christie Bookkeeping Helps A Non-Profit in Baltimore, MD to Correct Chart of Accounts Problems

Christie Bookkeeping Helps A Non-Profit in Baltimore

We began work with a non-profit in early 2020 and found many serious errors in their current accounting practices, which caused major issues with the accuracy and usability of their financials. Non-profit bookkeeping requires an understanding of how to restrict funds as well as accrue and release said funds in appropriate fiscal years. The financials, if not managed properly, can easily become too complex or inaccurate as was the case with this non-profit.

Their chart of accounts had been designed by someone with little experience in bookkeeping, especially bookkeeping for non-profits. With most of the restricted funds not being tracked properly, the financials were severely understated, which created issues in their yearly audit. It was imperative for us to improve the accuracy of their financial reports for use in the yearly audit, filing of the 990 and grant application.

Christie Bookkeeping streamlined their chart of accounts, making their financial reports simpler and more intuitive. We also cleaned up their accruals so the financials presented accurate and reconciled figures. The board president, accountant, and treasurer were all greatly appreciative!