The complexities of nonprofit accounting require an accounting system that is designed to properly classify each element of the nonprofit’s Who, What and Why. Having an accounting system that incorporates these elements will make it easier to generate more accurate and relevant financial statements both internally and externally. This will make it easier to measure and determine if each of your organization’s mission-based activities are running efficiently and effectively. A detailed nonprofit accounting system will provide management with the information needed to make more informed decisions on your organization’s financial health.