Month: August 2019

As an accountant for a nonprofit organization, your responsibilities differ from those of a for-profit business. Therefore, it is imperative that you are up to speed on all of the rules and regulations that apply to your business. Here are a few best practices to follow for nonprofit accounting. 

Use the Correct Software

Since nonprofits handle record keeping and tax payments differently than other companies, it is essential that you use software that is developed specifically for nonprofits, such as Abila MIP Advance. Good software will help you to stay organized and run the most accurate reports.

Keep Up With Current GAAP Guidelines

GAAP, or generally accepted accounting principles, are the standard set of rules of corporate accounting. These tend to change occasionally, and it is your responsibility to ensure that you are well-versed and up to date with them.

Understand Tax Responsibilities

Since you are not a typical for-profit organization, you are not required to pay the same types of taxes. Nonprofits are exempt from paying federal income taxes, as well as paying sales and property tax. However, there are instances where you are required to pay taxes, such as when you make money from something that is not related to your basic purpose. Familiarize yourself with these responsibilities so you don’t make any costly mistakes.

Be Realistic About Expenses

Even if you have numerous fundraising events planned and have a good amount of money in the bank, it is important to be realistic about the expenses needed to operate daily so that you don’t ever find yourself scrambling for money. Aside from money for fundraising events, you’ll also need to account for payroll, office expenses, and anything else that could potentially pop up.

Understanding the complexities of nonprofit accounting can be a challenge, but as … Read more

If you are looking for a chance to start a business that will make money and provide a valuable service, a medical courier pennsylvania may be the answer for you. Medical records and supplies need to get to their destination quickly and in good condition. If you can deliver on this, you have a good chance of doing well in this business.

Licenses and Permits

You will need training and licensing in handling biological materials before you can start your business. Any employees you hire will also need to be trained and certified. The rules are different from state to state, so be sure to find out what permits and permissions you need to start a medical courier business in your area.

The Right Equipment

Most companies that deliver lab samples or medical supplies need vehicles in which to do this, and specialized equipment is sometimes necessary. If you are transporting documents such as medical records or x-rays, a bicycle or motorbike might be the best way to get through city traffic. If you are picking up blood, urine or tissue samples, they will need to be kept at the proper temperature, and you will need cooling equipment.

Employees

As your company grows, you will hire people to make pickups and deliveries. Potential employees must have good driving records, be reliable and have a friendly yet professional manner. While a college degree is not necessary, the people who work for you should be able to understand and carry out instructions as well as use a certain amount of discretion to make decisions. They should dress in the company uniform or in a business casual way. 

Business and Marketing Plans

It is very important when starting any business to develop a plan for how the business will grow and thrive. … Read more