Financial Technologies & Management- E-Newsletter for January

Upcoming Live Webinars

Dear {CONTACT.SALUTATION} 

We hope you find our monthly E-Newsletter useful for your nonprofit organization. We are pleased to provide you with access to our newsletter articles, tips and tricks and live webinars!!  We have added our weekly tips and tricks to our social media platforms including
Facebook and Linked In in so follow up there as well

These live webinars will help Nonprofit Leaders, Treasurers, Finance Directors, Finance Staff, Executive Directors and other Nonprofit Staff.

Our upcoming live webinars for financial management training are broken into the following areas: Nonprofit Financial Forum and MIP Fund Accounting.

We are pleased to announce our 2026 Nonprofit Financial Forum and MIP User Group with the Forum during the first hour and the MIP user group for the last 30 minutes. 

Here is the monthly schedule for 2026:  Please click on link for more information and to register.

Jan 21, 2026    1099 Tax Preparation

Feb 25, 2026    Tips for Smooth Audit and Common Audit Pitfalls

Mar 25, 2026    Building a Better Budget

Apr 29, 2026    Presenting Financial Reports

May 27, 2026   Effective Grants Management and Cost Allocation

Jun 24, 2026    Effective Nonprofit Financial Governance and Leadership

Aug 26, 2026   Tips for Smooth Audit and Common Audit Pitfalls

Sep 30, 2026   Building a Better Budget

Oct 28, 2026    Presenting Financial Reports

Nov 18, 2026   Effective Grants Management and Cost Allocation

Dec 15, 2026   Effective Nonprofit Financial Governance and Leadership

Please contact us via phone, email, or directly book a consultation on my calendar for all current and prospective clients.   Also, you can use the contact us page to subscribe to our newsletter for you, your staff, or your colleagues.  We are pleased to offer client care plan for our QuickBooks Online, MIP Fund Accounting, and Microix Clients.

Please click here for the current and previous monthly newsletters back to 2020.

Best Regards,

James Simpson, CPA

Year End Accounting Checklist

Our firm can provide you with a financial assessment tailored towards the people, processes and technology that will help your organization make improvements to strengthen its internal processes and controls, improve segregation of duties, evaluate accounting staff and software, and determine where risks exists and how to mitigate them.  We can help you implement this year end accounting checklist to ensure you are ready for your annual audit or review.

The year end accounting checklist includes:

• Bank and Credit Card Accounts
• Prepaid Expenses
• Accounts and Pledge Receivable
• Investment Accounts
• Fixed Asset Accounts
• Prepaid Accounts
• Accounts Payable Accounts
• Deferred Revenue and Refundable Advance
• Other Liability Accounts
• Net Asset With and Without Restrictions
• Revenue Accounts
• Expenses Accounts
• W2 and 1099 Reporting
• Grant Compliance
• Audit Preparation

Please click the find out more button for the full article

1099 Year End Tax Preparation for MIP Fund Accounting and MIP Modern

Get Ready for Year End Tax Preparation and let us help you with your 1099 preparation and production.  You will need to be on Version 2025.X to produce the 2025 tax forms.  

There are 7 essential 1099 Preparation Steps in MIP.

1. Review Organization Information Setup
2. Verify MIP User Security Rights
3. Review Vendor 1099 Record Setup
4. Create a report to review 1099 Vendor Information
5. Prepare and review Detailed Cash Journal
6. Prepare and review Summary Cash Journal
7. Decide and Prepare for your chosen filing method

We are providing the following resources to assist you with your 1099 tax production:

7 essential 1099 Preparation Steps in MIP

2025 1099-NEC User Guide

2025 1099-MISC User Guide

1099 Modern Interface Guide

Please contact use for our year end 1099 preparation and production services.  Also, you can outsource these services to our firm as well by contacting us and booking a consultation.

Please click the find out more button below for the full article

1099 Preparation Guide

Employers must file wage statements and independent contractor forms by Jan. 31st.

Certain Forms 1099-NEC, Nonemployee Compensation, filed with the IRS to report non-employee compensation to independent contractors are also due at this time. Such payments are reported in box 1 of this form.  Wages paid to employees should be reported on Form W-2.  Here is the link to the General Instructions for Certain Information Returns including Forms 1099 and 1096 included in IRS publication.

Hopefully, you collected your W-9 forms from independent contractors to whom you paid $600 or more this year.  The reporting threshold increases to $2,000 for 2026 and is indexed for inflation beginning in 2027.  

Here is a link to the Form W-9 that you would need to request from your contractors and vendors to complete which should be part of your new vendor onboarding process to determine who should be sent 1099-NEC or 1099-MISC forms for the year.

Please contact us for our 1099 tax preparation services which includes at least two meetings for the planning and the actual tax form production prior to the deadline. 

Please click the find out more button for the full article

Our Staff-Your Team

Our firm has grown because of strong client relationships with referrals from our clients and other referral partners.  Our staff is very experienced at performing the accounting function for our clients.   Our nonprofit accounting services includes bookkeeping, accounting, controller, and CFO services.  Our nonprofit software accounting software expertise be composed of QuickBooks Online, MIP Fund Accounting, Microix, and Sage Intacct.  Our nonprofit software services comprise software assessments, sales, data conversions, implementations, training, support, and project management services.  Our financial management training consists of our monthly news letter, nonprofit financial forum, MIP user group, and other training.

Our approach is to work with you to determine how your organization can best benefit from our professional services.  We realize that organizations don't have the resources to have a full accounting staff, so we focus on filling the accounting staffing gaps. We deliver quality accounting, bookkeeping, advisory, and tax services to ensure you have everything you need to make a significant impact for your cause.  Our firm provides the most experienced staff at affordable rates.  Please click on the find out more for the full article & staff links

Addtional FTM resources to help your organization:

Is now time for financial assessment?

FTM offers client care plan for QBO and MIP users?

Why you should consider an Outsourced Controller or CFO?

Does my Nonprofit Need a Controller?

Eight Reasons to Outsource Your Nonprofit Accounting

When to Consider a Move to Fund Accounting?

Please click here to find our more about our firm and services

Our firm provides all the levels of accounting your nonprofit needs including bookkeeping, accounting, controller, CFO, and software advisory services for nonprofit accounting software including MIP, Microix, QuickBooks, Sage Intacct and AccuFund

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