article thumbnail

Accounting Software For Nonprofits 2022: What To Look For

Accounting Seed

First, nonprofits track and report on accounts held in the form of funds. This is known as fund accounting. The money in a particular fund must be managed according to predetermined guidelines. Along with fund accounting, nonprofits must maintain a nonprofit budget. Fund Accounting.

article thumbnail

Mutual Fund Buy-Sell Tax Pitfalls


Surprise sales You may already have made taxable “sales” of part of your mutual fund investment without knowing it. One way this can happen is if your mutual fund allows you to write checks against your fund investment.

tax 179

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

NetSuite for Government Helps State and Local Agencies Move to the Cloud for Better Efficiency

CPA Practice

With NetSuite for Government, agencies can automate: Core Fund Accounting: Helps agencies to efficiently manage finance and accounting with integrated general ledger, accounts receivable, accounts payable, cash management, statistical accounting, allocation schedules, and real-time reporting capabilities.

article thumbnail

The golden rules to avoid a massive tax bill as a sole trader


Once you’ve established separate business and personal accounts, it’s wise to then open a second business account – a simple business transaction account with the sole purpose of storing and paying anticipated taxes. Call this your tax fund account. You shall not draw funds from this account except to pay taxes.

tax 98
article thumbnail

Interesting Niches under a COVID Cloud


Accounting for Public Relations and Online Marketing Agencies. Accounting for Film Production. Accounting for Hedge Funds. Accounting for Cannabis (as more states change legislation). Accounting for Defense Contracting (federal spending on defense filtering down to smaller contractors).

article thumbnail

Ripple Plans MoneyGram Investment Of Up To $50M


Through the terms of the pact at the time, MoneyGram would let people “safely and efficiently send cross-border payments to friends, families and business partners,” noting that the “current model for these payments requires money transfer companies to use pre-funded accounts across the globe to source liquidity.

article thumbnail

SoftBank Ventures Asia Notches $270M To Fund Startups


SoftBank’s Vision Fund also led the $4.5 billion funding round in Grab , the Southeast Asian ride-hailing startup. Grab said SoftBank’s Vision Fund accounted for a third of the investment. SoftBank recently hired Cantor Fitzgerald to put its Vision Fund in front of bigger institutional investors.