Resources

Welcome to our Resource Hub — a curated space to support your financial confidence and clarity.

Whether you’re a nonprofit leader, small business owner, or growing entrepreneur, we’ve gathered essential insights to help you thrive.

1. Preparing for Your Audit: A Simple Checklist

Audit season doesn’t have to be stressful. Here are a few steps to stay audit-ready year-round:

Reconcile bank and credit card accounts monthly
Keep organized digital records of receipts and invoices
Track restricted vs. unrestricted funds
Maintain up-to-date board meeting minutes
Document all journal entries with supporting documentation

2. Common Bookkeeping Mistakes to Avoid

Mixing personal and business expenses
Skipping monthly reconciliations
Overusing “Miscellaneous” expense categories
Failing to track grant-specific income/expenses (for nonprofits)
Not backing up your accounting data regularly

3. Monthly Financial Reports Every Organization Should Review

Profit & Loss Statement (P&L)
Balance Sheet
Cash Flow Statement
Budget vs. Actual Report
Accounts Receivable Aging Report

4. Budgeting Tips for Nonprofits

Start with your mission. Align your budget with program goals and the impact you want to create.
Build realistic revenue projections. Include grants, donations, and earned income—but stay conservative.
Plan for restricted funds. Separate restricted vs. unrestricted income and track how funds must be used.
Include indirect costs. Don’t forget administrative, staffing, and overhead expenses.
Leave room for flexibility. Consider adding a contingency line for unexpected changes.
Review and adjust quarterly. Treat your budget as a living document that can shift with circumstances.
Communicate clearly with the board. Use easy-to-read visuals and summaries to keep stakeholders informed.

5. When to Consider a Fractional CFO

You’ve outgrown basic bookkeeping and need strategic guidance
You’re preparing for major growth, grants, or capital projects
You want forecasting, scenario planning, or board-level insight
You need to understand how to turn financial data into action

Need tailored support?

We’re here to walk with you. Contact us today to learn how Joyful Financial Group can support your mission and growth goals with dependable, high-level accounting and financial management services.

info@joyfulfg.com | www.JoyfulFG.com