Nonprofit Accounting Basics

Recent Articles

2022 Nonprofit Symposium Features Virtual and In Person Opportunities

Originally Posted: September 16, 2022

 

 

 

 

Protocol for Issues Involving Prior Period Checks

Originally Posted: September 2, 2022

Situation:  

A check from a Prior Year (or prior period) has not cleared the cash account (lost, destroyed, etc.).

Solution:

Public Support Tests: How a Public Charity is Defined Under Sec. 509(a)(2)

Originally Posted: September 1, 2022

The IRS has four categories under Sec. 509 that allow an organization to be a public charity, but the two most common are 509(a)(1) and 509(a)(2).

5 Easy Steps to Successfully Manage Your Receivables

Originally Posted: August 15, 2022

5 Easy Steps to Successfully Manage Your Receivables

Ratios and Indicators for Small and Midsize Organizations

Originally Posted: August 1, 2022

Selecting and calculating certain ratios and indicators, especially in trend, can tell an organization a lot about many aspects of its financial position, performance, and prospects.

Updated Management Responsibilities Under SAS 136 (for Retirement Plans)

Originally Posted: July 18, 2022

The implementation of SAS 136 is finally here.

Availability and Liquidity Disclosure

Originally Posted: July 5, 2022

With the existing Liquidity and Availability disclosures required for non-profit organizations, there is certain qualitative and quantitative information that should be disclosed.

Considering Accepting Digital Asset Donations? Here is what you need to know.

Originally Posted: June 20, 2022

Many nonprofits are facing the decision of whether to accept digital assets or miss the chance of substantial donations as digital assets become more popular and easier to access.

5 Ways to Make Your Accounts Payable Process Seamless

Originally Posted: June 6, 2022
  1. Use cloud-based tools. Transition your accounts payable (AP) process to a cloud-based service that interfaces with your accounting system. This can’t be overstated.

Nonprofits Should Prepare Now to Accept Cryptocurrency

Originally Posted: May 23, 2022

Over the past year, there has been exponential growth in both the volume of cryptocurrency (crypto) donations to nonprofits and the number of nonprofits accepting such donations, either as cryptocu

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