by pennextsteps | May 14, 2024 | Accounting for the Performing Arts, Bookkeeping with Quickbooks
What is a Chart of Accounts (COA)? Why is a Chart of Accounts (COA) important for your bookkeeping practices? A Chart of Accounts (COA) is a list of the accounts that an organization has identified for recording and allocating transactions in its general ledger....
by Pentacle-nextSteps | May 1, 2024 | Taxes
Key Differences Between a Financial Audit & Financial Review A financial audit and review are two different types of financial assessments conducted by professionals to evaluate the accuracy and completeness of financial statements. The main difference between an...
by Pentacle-nextSteps | Apr 23, 2024 | Become a 501(c)3 Non-Profit in the Performing Arts, Choose A Structure
Difference Between Non-Profit and For-Profit Entities What is a Non-Profit Entity? A non-profit, not-for-profit, or NPO, is an organization that does not seek to earn profit for its owners. Rather, all of the money earned is used to keep the organization running and...
by pennextsteps | Apr 23, 2024 | Budgeting
How to Create a Project Budget What is a Budget? A budget is an estimate of income and expenses for a set period of time in the future. You can create a budget for your entire organization or individually for each of your projects/programs. Budgets are meant to be...
by pennextsteps | Apr 23, 2024 | Budgeting
How to Create an Operating Budget An Operating Budget in the Performing Arts An Operating Budget differs from a Project Budget in that it takes into account all of your project budgets, fundraising budgets, and general operating budgets in one report. This type of...