Nonprofit Accounting Basics

Accounting and Bookkeeping

5 Easy Steps to Successfully Manage Your Receivables

5 Easy Steps to Successfully Manage Your Receivables

5 Guidelines for Successful Grants Management

A good grants management process can take some time to develop, but the effort can be worth it.  In this article, you’ll learn some tips and guidelines to help you improve your grants manageme

5 Ways to Make Your Accounts Payable Process Seamless

  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.

Accounting for Special Events

Summer is over and event season is upon us.

Accounting Made Easy: 5 Steps to Fast, Easy, and Accurate Bank Reconciliations

One of the more fundamental and important processes in the monthly close is the reconciliation of bank accounts.

Accounts Payable

Accounts Payable is a liability account found on the Balance Sheet or Statement of Financial Position that represents money owed to another party.

Accounts Receivable

Accounts receivable (AR) is an asset account found on the Balance Sheet or Statement of Financial Position that represents money due to the organization from another party.

Cash vs. Accrual

There are two main methods of accounting an organization can use for recordkeeping:  cash basis and accrual basis.

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

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.


Once an item is recorded as a fixed asset, its life must be determined so depreciation can be calculated and recorded.

Do restricted funds need to be kept in a separate bank account?

Question: We are a small but growing nonprofit organization. We just received notification of a restricted contribution from an estate.

Exchange Transactions

Factors that may indicate an exchange transaction:

Often it is difficult to distinguish between a contribution and an exchange transaction, the following factors are indicative of an exchan

FASB Clarifies and Improves Guidance for Not-for-Profit Grant and Contribution Accounting

On June 21, 2018, the Financial Accounting Standards Board (FASB) has issued accounting standards update (ASU) No.

Fixed Assets

Fixed assets are physical assets with long useful lives, such as buildings, furniture, computers, office equipment, machinery, and vehicles.

Generally Accepted Accounting Principles

What is GAAP?

GAAP is an acronym for Generally Accepted Accounting Principles. These principles constitute preferred accounting treatment.

Get Smart About Art Donations

Non-cash Contributions

How to Run a Successful Capital Campaign

To launch a capital campaign is a major decision for any nonprofit. Capital campaigns are not for all organizations. Those who decide to start one must ensure:


Inventory represents the value of assets held by an organization for resale.

Lessons Learned from Adoption of Topic 606, Revenue Recognition

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09

Line of Credit

Similar to a personal credit card, a line of credit (LOC) is a pre-set credit limit approved by a bank or another financial institution.

More Money Blues

It may be hard to believe but getting too much money can sometimes destabilize a nonprofit organization.

Nonprofit Funding Sources (Donor Types)

Funding comes from a variety of sources for nonprofits. Every nonprofit has a niche and a funding strategy to match.

Nonprofits Can Better Manage Overhead Expenses

Managing a nonprofit organization’s overhead (management and general) expenses is just as important as managing program and fundraising expenses. Most nonprofits would not dispute this statement.

Nonprofits Should Prepare Now to Accept Cryptocurrency

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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