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Not-for-Profit vs Nonprofit: What Sets Them Apart?

Not-for-Profit vs Nonprofit: What Sets Them Apart?

Not-for-profit vs nonprofit organizations are often confused with one another. As you discover in this post, there are distinct differences between the two. Find out what sets them apart. Difference between not-for-profit vs nonprofit What is not-for-profit...

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Chart of Accounts for Nonprofits: Guide to Proper Setup

Chart of Accounts for Nonprofits: Guide to Proper Setup

The proper setup up of the chart of accounts for nonprofits is the critical first step in getting started with your nonprofit fund accounting system. Learn how to segregate funds the easy way for tracking revenue and expenses.   What Is the Chart of Accounts for...

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Bookkeeping for Nonprofits: Best Hiring Practices

Bookkeeping for Nonprofits: Best Hiring Practices

Bookkeeping for nonprofits is essential for maintaining day-to-day data entry of revenue and expenses. Let’s explore best hiring practices. What is bookkeeping for nonprofits? Every dollar that comes in and every dollar that goes out must be recorded. It is the role...

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Nonprofit Cash Flow Forecasts: How To Avoid Deficits

Nonprofit Cash Flow Forecasts: How To Avoid Deficits

Nonprofit cash flow forecasts predict when revenue comes in and when revenue goes out. It is an excellent tool to avoid cash shortfalls. By pinpointing deficits during a 12-month period, your nonprofit can avoid a crisis before it becomes a major problem. 5 steps to...

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Nonprofit Operating Reserves: How to Plan for Emergencies

Nonprofit Operating Reserves: How to Plan for Emergencies

Nonprofit operating reserves is revenue set aside for future use. Planning for this ensures long-term financial heath. Where does this money come from and how can nonprofits plan for the future? Establishing nonprofit cash reserves Nonprofit operating reserves are...

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