As the name suggests, nonprofits don’t earn like ordinary businesses; instead, they have a different approach towards revenue. Nonprofits and their accountants need to keep on looking for new grants, donations, and other funding opportunities. However, developing a sustainable funding model for nonprofit organizations is harder than it seems. There is a reputation to uphold […]

Having a high-performance Board of Directors translates, each with a diverse background is essential in ensuring efficiency and sound management decisions. There is no rule suggesting that board members need to have a strong financial background. However, there are certain skills that they must be adept at. Accounting and finance drive significant strategic decisions and […]

Accounting for 501(c)3 nonprofit organizations can get very tricky, especially when it comes to handling the income generated, loss, or any profit earned from day-to-day activities, such as a cafe, merchandise stall, store, etc. QuickBooks® Online (QBO) is a nonprofit accounting software that strives to make this easy, but is it really the best platform […]

One of the biggest pain points of 5015(c)3 nonprofits is to maintain timely and accurate financial records within their tight budget. They have to find methods that are more cost-effective but often also means that these methods used might not be as efficient. Hiring an internal accountant is one thing, but outsourcing the accounting department […]

Good Steward Financial Company is happy to announce that Aiyahna Edwards has moved into a full-time role as Staff Accountant! Aiyahna’s been with us since last summer, first as an intern and then as a part-timer while she finished her senior year at NC A&T State University. She just graduated with a BS in Finance, […]

No business can operate properly without a CFO to manage the financial situation and design financial growth strategy. However, small businesses or non-profits sometimes find it difficult to have dedicated resources for separate business functions or easily fill a vacancy if a team member leaves. One of the worst mistakes a business can make is […]

Most nonprofits don’t need to conduct audits, saving them worries related to this aspect of running an organization. However, getting an audit done might not be as bad of an idea. It will give them several benefits and make opting for annual audit assistance from a virtual bookkeeping business easy. Let’s look at how audits […]

Good Steward Financial Company, LLC, is excited to announce the promotion of Brian Geerlings from Director of Accounting to Chief Operating Officer. Brian has been with Good Steward Financial Company since January 2021 and has already contributed significantly to our firm and to our mission of providing exceptional and comprehensive service offerings. With more than 15 […]

Cash flow management is a critical part of the business because it allows the company to plan transactions and manage liabilities. Tracking, monitoring, and reporting cash flows is a routine part of running a business and requires a dedicated part of the team to look after it. Because non-profit organizations and small businesses cannot always […]

As a 501(c)3, you have a mission to work on…but you cannot make a difference without adequately managing your finances. Fortunately, QuickBooks offers services that are geared specifically towards the needs of nonprofits. A virtual bookkeeper and a nonprofit QuickBooks service can provide you with peace of mind when it comes to the finances of […]