Bookkeeping for Non For Profits/Charities
One of the most scrutinized Ottawa business operations is any business that focuses on being a non-profit or charitable operation. This makes it very important and imperative to have an accurate and viable accounting system that follows all of the generally accepted accounting principles and practices to the letter for fear of running into fraudulent activities and audit investigations stemming from the suspected misappropriation of funds.
This mainly because of the business model itself having to follow specific financial structures and practices for accounting and bookkeeping. At Envolta we have the expertise and experience to deal with both charitable and non-profit organizations. The beneficial ends of a partnership with our expertise not only enhances the financial stability of such an organization, it will also ensure proper reporting and tax accountability.
How Charities and Non-Profit Organizations Stand To Benefit
- Setting up and achieving the full cycle of book-keeping to include tax remittance and all payroll aspects.
- Assisting in the budget and report preparation as require by the board of directors.
- Preparation of other financial and management reports.
- Preparation of T5.
- We work together with your accountant to ensure an effective end to the year.
- Lower cost of services compared to paying an in-house financial controller or CFO.
- External financial control components.
We offer a set of services performed weekly, bi-weekly or monthly per the structure of the practice,
- Payroll preparation
- Post Cheques, deposits, and credit cards
- Write cheques
- Assist in collecting outstanding receivables
- Conduct cash management
Furthermore the following services are all customizable to fit the needs of the our clients. The services below are performed either monthly or quarterly,
- Reconciliation of Banks accounts
- Income statement preparation
- Balance sheet preparation
- Analysis of customized reports that target expense handling
- Preparation of billing statements and expense reports
- Prepare the general ledger
Envolta, provide all of these services to small to medium size offices in Ottawa in the following structures,
- Arts, Cultural & Recreational Organizations
- Business & Trade Associations
- Charities and Social Services
- Churches and Religious Organizations
- Membership and Advocacy Associations
- Private Clubs