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The Basics of Nonprofit Bookkeeping

The Charity CFO

A bookkeeper records and organizes financial data; an accountant interprets and presents that data. . The nonprofit bookkeeper is the front line in the battle for the accurate financial data you need to run your business, so let’s review the core responsibilities of a nonprofit bookkeeper. . Invoicing .

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Do Nonprofits Use Cash or Accrual Accounting?

The Charity CFO

Cash accounting does not comply with Generally Accepted Accounting Principles (GAAP) for nonprofit organizations. Financial statement audit or review – if you are required to undergo a financial statement audit or assessment, using the accrual method to be in accordance with GAAP will make the process much smoother and less expensive.