Nonprofit organizations are subject to unique accounting and reporting requirements where expenses must be reported by functional areas.
Hiring professionally-trained accountants and bookkeepers can prevent costly nonprofit accounting errors down the road.
Nonprofit administrative expenses are a necessary investment in your infrastructure and operations and are essential for your organization to be more sustainable to be able to fulfill your mission.
Accounting for nonprofits is the best way to measure success in terms of fulfilling your nonprofit mission.
One of the major differences between for profit and nonprofit accounting is the method used to categorize expenses known as direct cost allocations.
When it comes to reporting expenses, the biggest difference between nonprofit organizations and for-profit businesses is that nonprofits use functional accounting to classify expenses.
The nonprofit sector is unlike any other business, it thrives on people donating their money without expecting a tangible product or service in return. What they do expect from a nonprofit is that they handle the money responsibly and that the money is used for its designated purpose.
When it comes to nonprofit accounting, ignorance can have very serious consequences.
Can knowing accounting grow your nonprofit and lead to nonprofit sustainability? If you don’t understand accounting principles, your nonprofit may struggle to fulfill your mission and achieve your goals. Why is understanding the principles of accounting so fundamentally important?
Nonprofit organizations now have a wealth of choices when choosing cloud-based nonprofit accounting solutions.