The nonprofit chart of accounts tracks revenue and expenses and is the heart of every nonprofit accounting system. For-profit businesses have one bottom line — making a profit. Nonprofits have two bottom lines: fulfilling its mission and having the necessary funding to accomplish this.
Author: Joseph Scarano
Allocating funds to pay nonprofit payroll taxes is complex and challenging. Questions often arise on how to allocate payments between different funding sources.
Nonprofit bookkeeping requires understanding nonprofit unique accounting requirements. This post explores everyday, real-world questions bookkeepers encounter.
Fund accounting helps nonprofits become more accountable to funding sources by tracking donor revenue designated for specific purposes.
Tracking revenue and allocating expenses can be a daunting task for nonprofits. Our advisor answers questions on nonprofit revenue and expenses.
Managing nonprofit restricted funds can be challenging due to strict rules. Our advisor answers questions on donor restrictions placed on donations and grants.
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?
Faced with limitations on direct and indirect cost recovery, funding nonprofit overhead can be challenging and confusing for nonprofits.