Accounting and Reporting
Nonprofit Accounting Basics: Understanding Accounts Payable Cycle
The accounts payable (AP) cycle is the process of tracking and paying bills for goods and services that a nonprofit…
Nonprofit Balance Sheet (or Statement of Financial Position)
Nonprofit organizations do not have the same financial reporting requirements as for-profit businesses. Since nonprofits operate for the purpose of…
ASU 2014-09: A Summary of Revenue Recognition for Not-for-Profit Organizations
The Financial Accounting Standards Board (FASB) is the agency in charge of monitoring, revising, and enforcing accounting practices in the…
What Is Earned Revenue In Accounting?
One of the most frequent requests we hear from clients looking for financial services is to be sure they are…
Bank Reconciliation Statement: What It Is & Why It’s Important
Having an effective accounting process in your nonprofit organization allows nonprofits to stay transparent and accountable. Keeping track of daily…
What Is A Statement of Activities for Nonprofits?
Running a nonprofit organization requires talent, hard work, and determination. There are many moving pieces to success including managing people,…
A Step-by-Step Guide to the Nonprofit Organization’s Accounts Receivable Process
Every nonprofit is a unique organization. Nonprofits exist to serve a purpose beyond generating profit. It is a common misconception…
Making Accurate and Feasible Financial Projections for Your Nonprofit Organization (The Basics)
Running a nonprofit organization is a rewarding experience, but it is also one that comes with great responsibility. In addition…
Understanding The Nonprofit Annual Report (The Basics + Downloadable Template)
Nonprofit organizations are treated differently from for-profit companies by governing and taxing authorities because they are different. Nonprofits exist to…
What Is A Statement of Financial Position?
Running a nonprofit organization is no simple task. Between grant management, organizing fundraisers, collecting membership dues, and scheduling volunteers, every…
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Nonprofit Accounting Basics: Understanding Accounts Payable Cycle
Nonprofit Balance Sheet (or Statement of Financial Position)