While it might be tempting to cut corners in your financial record keeping when starting a new non-profit, doing so might actually increase your costs, rather than cutting them and giving you peace-of-mind that the job is done right.
It might be a strategy that works out fine, at first, but will inevitably grow more complex and complicated as your non-profit grows with each successful campaign.
Outsource accounting provides your non-profit the confidence to pursue its mission because your finances will be in excellent shape. Even as most non-profits are starting out, they acknowledge the importance of having a great foundation for their mission.
As with any business, a fundamental element of success is making sure you can afford to continue to do business.
There is a reason high-quality non-profit accountants tend to cost more to hire as in-house staff: the world of non-profit financial regulation is really complicated.
Paying to have trained eyes guide your financial documentation, especially with those with enough experience in non-profit finance to navigate the complex world of legal regulations, can be prohibitively expensive.
But if you make financial mistakes, that could potentially cost your organization much more in terms of returned donations, fines, or even a potential loss of public financial credibility if the IRS catches a mistake instead of your accountant.
LUXA Enterprises specializes in outsource accounting to help non-profits with staffing costs and cut business overhead costs, manage the struggles of non-profit bookkeeping, and retain the confidence that comes with financial independence, all while helping our clients realize the immediate benefits of outsource bookkeeping with a dedicated support team, just for you.