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Nonprofit Accounting

Aug 21 2018

Nonprofit Accounting: Difference Between Funds and Programs

In order to understand nonprofit accounting, it is important to know the difference between funds and programs. A true nonprofit accounting system tracks revenue from funds and expenses by programs or functional areas.

[Read more…] about Nonprofit Accounting: Difference Between Funds and Programs

Written by Joseph Scarano · Categorized: Accounting for Nonprofits · Tagged: Accounting Software for Nonprofits, Cost Allocations, Direct Cost Allocations, Functional Accounting, Fund Accounting, Fundraising, Nonprofit Accounting, Nonprofit Accounting Software, Nonprofit Audit, Nonprofit Fund Accounting Software

Aug 02 2018

Nonprofit Accounting Methods: Cash vs Accrual

For-profit vs nonprofit accounting methods for small nonprofits are very different and more complicated. Not only do nonprofits need to account for service-based income like a for-profit, they must also account for donations, grants and fundraising event revenue.

[Read more…] about Nonprofit Accounting Methods: Cash vs Accrual

Written by Joseph Scarano · Categorized: Accounting for Nonprofits · Tagged: Accounting Software for Nonprofits, Nonprofit Accounting, Nonprofit Accounting Software

Jul 17 2018

Nonprofit Net Assets and Statement of Financial Position Explained

The Statement of Financial Position of net assets presents current revenue, assets, and liabilities for nonprofits. This is the key difference between for profit vs nonprofit accounting.

[Read more…] about Nonprofit Net Assets and Statement of Financial Position Explained

Written by Joseph Scarano · Categorized: Nonprofit Fund Accounting · Tagged: Accounting Software for Nonprofits, Nonprofit Accounting, Nonprofit Accounting Software, Nonprofit Financial Statements

May 23 2018

GAAP for Nonprofits Sets New Standards for Financial Statements

GAAP for nonprofits has set new fund classifications under FASB, altering the presentation of financial statements.

[Read more…] about GAAP for Nonprofits Sets New Standards for Financial Statements

Written by Joseph Scarano · Categorized: Nonprofit Fund Accounting · Tagged: Accounting Software for Nonprofits, Fund Accounting, Nonprofit Accounting, Nonprofit Accounting Software, Nonprofit Financial Statements, Nonprofit Fund Accounting Software

Feb 26 2018

Nonprofit Profitability: 6 Steps to Fulfilling Mission-Based Goals

Most nonprofits don’t think in terms of nonprofit profitability when it comes to fulfilling their mission. But, today’s nonprofits have to think differently.

[Read more…] about Nonprofit Profitability: 6 Steps to Fulfilling Mission-Based Goals

Written by Joseph Scarano · Categorized: Accounting for Nonprofits · Tagged: Accounting Software for Nonprofits, Nonprofit Accounting, Nonprofit Accounting Software, Nonprofit Crowdfunding, Nonprofit Marketing, Nonprofit Mission, Nonprofit Profitability, Nonprofit Sustainability

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