The Charity CFO

FEBRUARY 25, 2022

You don’t record any financial data in the Chart of Accounts itself; it’s like an organizational map of your accounting structure. In a nonprofit’s Chart of Accounts, each account is identified in four ways: number, name, category type, and a short description. Account Description.

Nonprofit 98

Nonprofit Accounting Accounts Payable GAAP 98

The Charity CFO

APRIL 5, 2022

But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting. Though both systems use the same numbers, looking at those numbers differently can give you a very different perspective on the state of your finances.

Nonprofit 98

Nonprofit Accounting GAAP Auditing 98

The Charity CFO

FEBRUARY 4, 2022

But the experience, responsibilities, and deliverables required of bookkeepers are very different from those required of accountants. . A bookkeeper records and organizes financial data; an accountant interprets and presents that data. . It breaks down like this: . What is nonprofit bookkeeping? .

Nonprofit 98

Nonprofit Invoicing General Ledger GAAP 98