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Nonprofit Accounting Basics for Founders, Board Members & Executives

The Charity CFO

Accounts Payable. Accounts payable is an account containing any outstanding bills or invoices that you haven’t yet paid. Accounts Receivable. Accounts receivable is an account containing any revenue that you’ve earned, or that was committed to you, that you haven’t yet received. Office supplies.

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Breaking Down the FP&A Function of the CFO Suite

BlueLight

The CEO outsources accounting to a third-party accounting firm and may conduct simple FP&A. The Controller is responsible for accounting and financial reporting. The popular software tools include Bill.com for billing and invoicing, and QuickBooks for accounting and reporting.

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Best Practices from the CFO Suite

BlueLight

Billing and invoicing software: Bill.com ?—?Cloud-based For example, QuickBooks is known for its accounting capability but it also offers limited functionality for generating quotes and invoicing. Accounting ?—?Nearly Example accounting firms include Attivo Partners and Keating Consulting.

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