Accounting for nonprofits classifies expenses by functional area in compliance with unique reporting requirements for nonprofits. Take a deep dive into nonprofit functional accounting.[Read more…] about Nonprofit Accounting: Guide to Classifying Functional Expenses
How can financial leadership for nonprofits improve their financial management skills and build a solid foundation? Improving their skills in the areas of budgeting, forecasting, cash management, and finance lays the foundation for fulfilling a nonprofit’s mission.[Read more…] about Financial Leadership For Nonprofits: How To Build A Solid Foundation
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 Danger
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?
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?