Accounting for nonprofits classifies expenses by functional area in compliance with unique reporting requirements for nonprofits. Take a deep dive into nonprofit functional accounting.
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Why Using Spreadsheets for Nonprofit Financials Spell Danger
Using spreadsheets for nonprofit financials causes frustration and unreliable results. This blog post explores the potential dangers of preparing nonprofit financials with off-the-shelf spreadsheet software.
[Read more…] about Why Using Spreadsheets for Nonprofit Financials Spell DangerQuickbooks 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 accounting software.
[Read more…] about Quickbooks for Nonprofits: Does It Do 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?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.
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