Nonprofit Accounting Basics

Accounting and Bookkeeping


Payroll includes many components in addition to the wages paid to employees.

Petty Cash

Petty cash is a small amount of cash kept on hand to pay for incidental expenses such as cab fare or postage, where it is not convenient to use a check or credit card.

Protocol for Issues Involving Prior Period Checks


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


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.

Reclassing Net Assets in QuickBooks

QuickBooks (QB) is a very reasonably priced accounting solution used by many small and midsized nonprofit organizations.

Reconciling Your Bank Accounts

Reconciling Your Bank Account(s)

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).

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):

Should I Use Accounting Software?

Deciding whether to use an accounting software is a matter of personal preference and the needs of management.

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

Top Ten Items to Review at Year-End

Your year-end review and audit preparation should include these items among others depending on your organizations form, accounts and transactions.

Types of Grants

Understanding Contributed Services

Contributed services are professional services that have been donated by someone outside of your organization with specialized skills — such as those provided by doctors, nurses, lawyers or account

UNDERWATER ENDOWMENTS: Definition, Determination, Display and Disclosures

From time to time, Organizations may face the prospect of an endowment going underwater, it may become especially relevant in uncertain economic times as markets fluctuate.

Whose Money is it? Recording Contributions Held for Others

Winter is here, and many organizations are preparing for the rush of year-end grants and contributions.

Your Website: Asset or Expense?

Websites are fast becoming the major means of communication between nonprofit organizations and their members, beneficiaries, contributors, and other stakeholders.


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