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

Many special events, such as dinners, galas, auctions, and walk-a-thons, are organized to raise contributions to support the organization’s activities.

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.

Agency Transactions

What are agency transactions?

Agency transactions occur when one NFP (the agent) raises contributions for another NFP (the recipient).

Budget for Government Grants

When you receive a grant from a governmental agency, it will typically include a program budget.

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.

Deferred Revenue

Donor Imposed Restrictions

What are "donor-imposed" restrictions?

FASB116 focuses on the concept of restricted revenue.

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

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:

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

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 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

Prepaid Expenses

Protocol for Issues Involving Prior Period Checks

Situation:  

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

Solution:

Raffles -- The Right Way

Raffles are gaining popularity for nonprofit fundraising. Often combined with a gala or other big event, raffles are accessible and fun.

Revenue Classification Tool: Factors to Consider

Revenue classification in compliance with generally accepted accounting principles (GAAP) has changed with the implementation of accounting standards updates (ASU’s).

Revenue Recognition Standard: Implementation Considerations and Disclosure Requirements

On May 28, 2014, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) issued substantially converged final standards on revenue recognition.

Sample Amortization Schedule

Please find below a a sample amortization schedule.

Sample Journal Entries for Government Grants

The following are the entries necessary for cost-reimbursable government grant (assuming the grant is determined to be an exchange transaction):

Split-Interest Agreements

What are "split-interest" ("planned giving") agreements?

Split-interest agreements, also known as planned giving, are contributions that assign the legal rights to certain assets to an NFP

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