Records

3 Reasons You Should Consider Moving to the Cloud

By |2019-01-16T12:25:32-06:00December 4th, 2018|Internal Control, IT, Leading, Nonprofit, Preparation, Records, Tips|

What is the Cloud and How Does it Work? When you hear the saying, “your data is in the cloud”, it doesn’t mean your data is actually stored in a cloud about to drop torrents of rain upon you. The “cloud” merely means that your software and services are running through the internet instead of [...]

5 Ways to Help Your Board Understand Financial Reports

By |2019-05-14T09:20:01-06:00March 27th, 2018|Board, Nonprofit, Records|

When presenting financial reports to your board or to staff outside of the finance team, do you find a lot of drooping eyelids and confused looks? Unfortunately, many individuals will tune out when financial reports are given because they can’t relate to the information. As a resource for many nonprofit organizations, we at TD&T come [...]

Personnel Files: What Should They Contain?

By |2019-03-08T09:51:40-06:00February 9th, 2018|Employment, Records|

Having employees is not only critical to the operations and success of your business, but they also add compliance and record-keeping requirements that are sometimes overlooked.  Many small and medium-sized companies do not have the need or financial resources to hire a human resource professional; therefore, those duties normally fall on the controller, bookkeeper, or [...]

Guidelines for When Nonprofits Must Issue Receipts

By |2018-02-09T11:02:53-06:00February 9th, 2018|Donation, Gifts, Nonprofit, Records|

Why are receipts required? Before we take a deep dive into the various situations of when a receipt is actually required, let’s look at why the IRS wants organizations to provide receipts.  For 501(C)(3) organizations that want to remain a public charity they must be publicly supported.  Public support refers to the amount of support [...]

Sales and Use Taxes: What Are Your Responsibilities?

By |2019-05-14T09:37:08-06:00September 21st, 2017|Accounting, Records, Tax, Uncategorized|

State and local governments levy sales and use taxes.  For that reason, the laws regarding sales and use taxes vary broadly by state and by local government.  The involvement of so many governmental entities can make the sales/use tax process cumbersome, complicated and confusing.  If your business operates in multiple tax jurisdictions, you will likely [...]

Record Keeping: How Long Do I Need to Keep Records?

By |2019-05-14T09:40:19-06:00May 11th, 2017|IRS, Mail, Records, Tips|

“Our clients ask all the time how long they need to keep records,” according to Lyndi DeVries.  Advice differs somewhat depending on the source, but some common-sense guidance can help you answer this question for yourself and your company.   What Records Do You Need to Keep? The nature of your business will probably determine [...]