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 accounting software.
[Read more…] about Quickbooks for Nonprofits: Does It Do Fund Accounting?Nonprofit Fund Accounting
For-Profit vs Nonprofit Accounting: What Is the Difference?
The main difference between nonprofit vs for profit accounting is that for-profit businesses operate under the principles of profit and loss, while nonprofits operate under the principles of social welfare.
[Read more…] about For-Profit vs Nonprofit Accounting: What Is the Difference?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.
[Read more…] about Nonprofit Audit: Guide to Preparation and RequirementsForm 990: Guide to Filing Instructions for Nonprofits
Nonprofits are required by the IRS to file an annual financial information return called the Form 990. This guide provides form 990 filing instructions by breaking down the who, what and why.
[Read more…] about Form 990: Guide to Filing Instructions for NonprofitsAdvantages 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.
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