The Clarity Blog
Financial guidance, branding wisdom, and real-world stories written for small businesses, nonprofits, and entrepreneurs.
from the blog
Key Differences in Accounting Practices for Nonprofits and For-Profits
Understanding the difference between accounting for-profit and nonprofit organizations is essential for financial transparency and compliance. While both sectors adhere to Generally Accepted Accounting Principles (GAAP), their objectives, revenue sources, and reporting requirements differ significantly.
Whether you're practicing accounting for a non profit organization or managing financials in a business, knowing how these models diverge is key to applying the right accounting standards and making informed decisions.
Closing Out 2024: Year-End Questions Every Small Business Should Ask
As the year winds down, it’s the perfect time to take stock of your business's performance and prepare for the year ahead. Year-end planning is not just about taxes—it’s about boosting your organization’s financial health, reassessing your goals, and setting a strong foundation for the future. In this blog post, we’ll walk you through the essential year-end questions and a handy checklist to help you close out 2024 successfully.
Building the Financial Team That Will Help Your Business Thrive
For many entrepreneurs and small to mid-sized business owners financial management is one of the most challenging aspects of running their business. For some it makes sense to hire knowledgeable staff to manage financial processes internally; for others, contract services make more sense. So what are the different financial roles and services available, and what can they do for your business? I’d like to help define three roles—Bookkeeper, Controller, and Chief Financial Officer—and talk a bit about the different ways these roles can support your company’s overall growth, health, and wellbeing.
Independence & Interdependence: Best Apps for Integration & Efficiency
With the celebration of Independence Day, the team at Clarity has been thinking about the paradox and tension between independence and interdependence, as it relates to our families, communities, nonprofits, and businesses.
There are so many great apps out there to help you track your time, money, projects, inventory, and customer/donor relationships. What are people using and loving these days? We decided to pull together a sampling that can serve as a good place to start your inquiry.
10 Tips to Help You Stay on Top of Your Books
Whether you are outsourcing your bookkeeping or doing your own books in-house, as the leader in your organization you need to know your financial information is reliable. Understanding "best practices" and incorporating them into your own business processes will help you get data you can trust, so you can make the decisions that are best for your business.
Here are some tips to help you stay on top of the books: