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Quickbooks for Nonprofits: Does It Do Fund Accounting?

Quickbooks for Nonprofits: Does It Do Fund Accounting?

Quickbooks for Nonprofits does not follow nonprofit fund accounting guidelines, which can pose compliance risks for nonprofits. Not-for-Profit Organizations must follow strict accounting guidelines. There is no one-size fits all when it comes to nonprofit fund...

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Nonprofit Audit: Guide to Preparation and Requirements

Nonprofit Audit: Guide to Preparation and Requirements

Proper nonprofit audit preparation builds donor trust, financial transparency and accountability. This guide steps you through preparation, requirements and standards.   Table of contentsWhat is a nonprofit audit?What is the purpose of a nonprofit audit?Who...

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Advantages of Fund Accounting Software for Nonprofits

Advantages of Fund Accounting Software for Nonprofits

True fund accounting software tracks revenue to a designated purpose and prevents misuse of donations. Let’s take a deep dive into the key advantages of using nonprofit fund accounting software.   If a nonprofit wants to be compliant with GAAP and FASB...

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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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In-Kind Donations: The Ultimate Guide for Nonprofits

In-Kind Donations: The Ultimate Guide for Nonprofits

In-kind donations are non-cash contributions that come in the form of goods or services. It includes goods, services, time, or professional services. This guide will teach you about in kind contributions, issuing donation receipts, and assessing the impact of in-kind...

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