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.
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What is Fund Accounting: Guide to Proper Stewardship of Funds
Fund accounting tracks revenue and expenses, demonstrating accountability to funding sources. Understanding nonprofit fund accounting ensures proper stewardship of funds. Let’s take a deep dive into what is fund accounting.
[Read more…] about What is Fund Accounting: Guide to Proper Stewardship of FundsBookkeeping 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.
[Read more…] about Bookkeeping for Nonprofits: Best Hiring PracticesCriteria for Hiring a Skilled Nonprofit Accountant
Hiring a nonprofit accountant is critical to a nonprofit’s success in fulfilling its mission. Selecting an accountant with the proper skills and understanding can be a daunting task. Before you hire your next nonprofit accountant, be sure they have the knowledge to ensure compliance and accountability.
[Read more…] about Criteria for Hiring a Skilled Nonprofit AccountantRestricted Donations: Real World Answers on Expenses
Nonprofits sometimes get caught up with donor restrictions imposed on donations and how to use these funds to pay expenses. What is the best way to pay expenses using donor restricted funds and remain compliant?
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