4 Tips for Bookkeeping and Fundraising

When you run a not for profit organization or other type of firm that needs funds raised by methods other than retail sales or other types of financial transactions, chances are you will be involved in the world of fundraising. A fundraiser is often time a fun event and one that is very important for you because it provides potential donors with a specific moment and cause for which to donate funds to you. Also, when it comes to money, you need to be highly organized and make sure that the event does not become too difficult for you to handle and that the funds being raised surpasses the cost of the event itself. For this, you need good book keeping and below are four tips to help you achieve in this area.

-Unless you are soliciting donations of which the amount is freely chosen by the donor, come up with a specific donation amount that people can give. In this scenario your book keeping can be largely uniform and easy to comprehend. Also, inviting the opportunity for donors to choose their own amount can cause time wasted if they are giving too little and your costs are not met. The only downside to discouraging these types of donations is you might not receive a very large and generous sum that a person might otherwise give to your cause.

-Make sure that all necessary personal information is recorded from the person giving you a donation. Should their donation be ill conceived, a check they write bounce or another problem arise, you need to know exactly who is giving you what and how to be able to keep track of them should a legal problem arise. Lack of information and documentation could spell disaster in some cases like this.

Read More Article...