Changing association fiscal year can align revenue, expenses
- July 18, 2022 |
- WILLIAM EHART
Jason GamelDifference between calendar and fiscal years can create confusion, cloud financial picture; members may prefer different dues scheduleBudget out of whack? It may be time to change your fiscal year.Experts and association executives say the calendar you choose to report your financials should benefit the association and its members, not be a source of confusion and last-minute worry."Your fiscal year should align with significant revenue-driving activities," said Paul Preziotti, CPA and partner at accounting and consulting firm Johnson & Lambert."If your largest meeting is in January, it might make sense from just a cost-certainty and budgeting perspective to… Read More