/*!
  SerializeJSON jQuery plugin.
  https://github.com/marioizquierdo/jquery.serializeJSON
  version 3.2.0 (Dec, 2020)

  Copyright (c) 2012-2021 Mario Izquierdo
  Dual licensed under the MIT (http://www.opensource.org/licenses/mit-license.php)
  and GPL (http://www.opensource.org/licenses/gpl-license.php) licenses.
*/
(function (factory) {
    /* global define, require, module */
    if (typeof define === "function" && define.amd) { // AMD. Register as an anonymous module.
        define(["jquery"], factory);
    } else if (typeof exports === "object") { // Node/CommonJS
        var jQuery = require("jquery");
        module.exports = factory(jQuery);
    } else { // Browser globals (zepto supported)
        factory(window.jQuery || window.Zepto || window.$); // Zepto supported on browsers as well
    }

}(function ($) {
    "use strict";

    var rCRLF = /\r?\n/g;
    var rsubmitterTypes = /^(?:submit|button|image|reset|file)$/i;
    var rsubmittable = /^(?:input|select|textarea|keygen)/i;
    var rcheckableType = /^(?:checkbox|radio)$/i;

    $.fn.serializeJSON = function (options) {
        var f = $.serializeJSON;
        var $form = this; // NOTE: the set of matched elements is most likely a form, but it could also be a group of inputs
        var opts = f.setupOpts(options); // validate options and apply defaults
        var typeFunctions = $.extend({}, opts.defaultTypes, opts.customTypes);

        // Make a list with {name, value, el} for each input element
        var serializedArray = f.serializeArray($form, opts);

        // Convert the serializedArray into a serializedObject with nested keys
        var serializedObject = {};
        $.each(serializedArray, function (_i, obj) {

            var nameSansType = obj.name;
            var type = $(obj.el).attr("data-value-type");

            if (!type && !opts.disableColonTypes) { // try getting the type from the input name
                var p = f.splitType(obj.name); // "foo:string" => ["foo", "string"]
                nameSansType = p[0];
                type = p[1];
            }
            if (type === "skip") {
                return; // ignore fields with type skip
            }
            if (!type) {
                type = opts.defaultType; // "string" by default
            }

            var typedValue = f.applyTypeFunc(obj.name, obj.value, type, obj.el, typeFunctions); // Parse type as string, number, etc.

            if (!typedValue && f.shouldSkipFalsy(obj.name, nameSansType, type, obj.el, opts)) {
                return; // ignore falsy inputs if specified in the options
            }

            var keys = f.splitInputNameIntoKeysArray(nameSansType);
            f.deepSet(serializedObject, keys, typedValue, opts);
        });
        return serializedObject;
    };

    // Use $.serializeJSON as namespace for the auxiliar functions
    // and to define defaults
    $.serializeJSON = {
        defaultOptions: {}, // reassign to override option defaults for all serializeJSON calls

        defaultBaseOptions: { // do not modify, use defaultOptions instead
            checkboxUncheckedValue: undefined, // to include that value for unchecked checkboxes (instead of ignoring them)
            useIntKeysAsArrayIndex: false, // name="foo[2]" value="v" => {foo: [null, null, "v"]}, instead of {foo: ["2": "v"]}

            skipFalsyValuesForTypes: [], // skip serialization of falsy values for listed value types
            skipFalsyValuesForFields: [], // skip serialization of falsy values for listed field names

            disableColonTypes: false, // do not interpret ":type" suffix as a type
            customTypes: {}, // extends defaultTypes
            defaultTypes: {
                "string":  function(str) { return String(str); },
                "number":  function(str) { return Number(str); },
                "boolean": function(str) { var falses = ["false", "null", "undefined", "", "0"]; return falses.indexOf(str) === -1; },
                "null":    function(str) { var falses = ["false", "null", "undefined", "", "0"]; return falses.indexOf(str) === -1 ? str : null; },
                "array":   function(str) { return JSON.parse(str); },
                "object":  function(str) { return JSON.parse(str); },
                "skip":    null // skip is a special type used to ignore fields
            },
            defaultType: "string",
        },

        // Validate and set defaults
        setupOpts: function(options) {
            if (options == null) options = {};
            var f = $.serializeJSON;

            // Validate
            var validOpts = [
                "checkboxUncheckedValue",
                "useIntKeysAsArrayIndex",

                "skipFalsyValuesForTypes",
                "skipFalsyValuesForFields",

                "disableColonTypes",
                "customTypes",
                "defaultTypes",
                "defaultType"
            ];
            for (var opt in options) {
                if (validOpts.indexOf(opt) === -1) {
                    throw new  Error("serializeJSON ERROR: invalid option '" + opt + "'. Please use one of " + validOpts.join(", "));
                }
            }

            // Helper to get options or defaults
            return $.extend({}, f.defaultBaseOptions, f.defaultOptions, options);
        },

        // Just like jQuery's serializeArray method, returns an array of objects with name and value.
        // but also includes the dom element (el) and is handles unchecked checkboxes if the option or data attribute are provided.
        serializeArray: function($form, opts) {
            if (opts == null) { opts = {}; }
            var f = $.serializeJSON;

            return $form.map(function() {
                var elements = $.prop(this, "elements"); // handle propHook "elements" to filter or add form elements
                return elements ? $.makeArray(elements) : this;

            }).filter(function() {
                var $el = $(this);
                var type = this.type;

                // Filter with the standard W3C rules for successful controls: http://www.w3.org/TR/html401/interact/forms.html#h-17.13.2
                return this.name && // must contain a name attribute
                    !$el.is(":disabled") && // must not be disable (use .is(":disabled") so that fieldset[disabled] works)
                    rsubmittable.test(this.nodeName) && !rsubmitterTypes.test(type) && // only serialize submittable fields (and not buttons)
                    (this.checked || !rcheckableType.test(type) || f.getCheckboxUncheckedValue($el, opts) != null); // skip unchecked checkboxes (unless using opts)

            }).map(function(_i, el) {
                var $el = $(this);
                var val = $el.val();
                var type = this.type; // "input", "select", "textarea", "checkbox", etc.

                if (val == null) {
                    return null;
                }

                if (rcheckableType.test(type) && !this.checked) {
                    val = f.getCheckboxUncheckedValue($el, opts);
                }

                if (isArray(val)) {
                    return $.map(val, function(val) {
                        return { name: el.name, value: val.replace(rCRLF, "\r\n"), el: el };
                    } );
                }

                return { name: el.name, value: val.replace(rCRLF, "\r\n"), el: el };

            }).get();
        },

        getCheckboxUncheckedValue: function($el, opts) {
            var val = $el.attr("data-unchecked-value");
            if (val == null) {
                val = opts.checkboxUncheckedValue;
            }
            return val;
        },

        // Parse value with type function
        applyTypeFunc: function(name, valStr, type, el, typeFunctions) {
            var typeFunc = typeFunctions[type];
            if (!typeFunc) { // quick feedback to user if there is a typo or missconfiguration
                throw new Error("serializeJSON ERROR: Invalid type " + type + " found in input name '" + name + "', please use one of " + objectKeys(typeFunctions).join(", "));
            }
            return typeFunc(valStr, el);
        },

        // Splits a field name into the name and the type. Examples:
        //   "foo"           =>  ["foo", ""]
        //   "foo:boolean"   =>  ["foo", "boolean"]
        //   "foo[bar]:null" =>  ["foo[bar]", "null"]
        splitType : function(name) {
            var parts = name.split(":");
            if (parts.length > 1) {
                var t = parts.pop();
                return [parts.join(":"), t];
            } else {
                return [name, ""];
            }
        },

        // Check if this input should be skipped when it has a falsy value,
        // depending on the options to skip values by name or type, and the data-skip-falsy attribute.
        shouldSkipFalsy: function(name, nameSansType, type, el, opts) {
            var skipFromDataAttr = $(el).attr("data-skip-falsy");
            if (skipFromDataAttr != null) {
                return skipFromDataAttr !== "false"; // any value is true, except the string "false"
            }

            var optForFields = opts.skipFalsyValuesForFields;
            if (optForFields && (optForFields.indexOf(nameSansType) !== -1 || optForFields.indexOf(name) !== -1)) {
                return true;
            }

            var optForTypes = opts.skipFalsyValuesForTypes;
            if (optForTypes && optForTypes.indexOf(type) !== -1) {
                return true;
            }

            return false;
        },

        // Split the input name in programatically readable keys.
        // Examples:
        // "foo"              => ["foo"]
        // "[foo]"            => ["foo"]
        // "foo[inn][bar]"    => ["foo", "inn", "bar"]
        // "foo[inn[bar]]"    => ["foo", "inn", "bar"]
        // "foo[inn][arr][0]" => ["foo", "inn", "arr", "0"]
        // "arr[][val]"       => ["arr", "", "val"]
        splitInputNameIntoKeysArray: function(nameWithNoType) {
            var keys = nameWithNoType.split("["); // split string into array
            keys = $.map(keys, function (key) { return key.replace(/\]/g, ""); }); // remove closing brackets
            if (keys[0] === "") { keys.shift(); } // ensure no opening bracket ("[foo][inn]" should be same as "foo[inn]")
            return keys;
        },

        // Set a value in an object or array, using multiple keys to set in a nested object or array.
        // This is the main function of the script, that allows serializeJSON to use nested keys.
        // Examples:
        //
        // deepSet(obj, ["foo"], v)               // obj["foo"] = v
        // deepSet(obj, ["foo", "inn"], v)        // obj["foo"]["inn"] = v // Create the inner obj["foo"] object, if needed
        // deepSet(obj, ["foo", "inn", "123"], v) // obj["foo"]["arr"]["123"] = v //
        //
        // deepSet(obj, ["0"], v)                                   // obj["0"] = v
        // deepSet(arr, ["0"], v, {useIntKeysAsArrayIndex: true})   // arr[0] = v
        // deepSet(arr, [""], v)                                    // arr.push(v)
        // deepSet(obj, ["arr", ""], v)                             // obj["arr"].push(v)
        //
        // arr = [];
        // deepSet(arr, ["", v]          // arr => [v]
        // deepSet(arr, ["", "foo"], v)  // arr => [v, {foo: v}]
        // deepSet(arr, ["", "bar"], v)  // arr => [v, {foo: v, bar: v}]
        // deepSet(arr, ["", "bar"], v)  // arr => [v, {foo: v, bar: v}, {bar: v}]
        //
        deepSet: function (o, keys, value, opts) {
            if (opts == null) { opts = {}; }
            var f = $.serializeJSON;
            if (isUndefined(o)) { throw new Error("ArgumentError: param 'o' expected to be an object or array, found undefined"); }
            if (!keys || keys.length === 0) { throw new Error("ArgumentError: param 'keys' expected to be an array with least one element"); }

            var key = keys[0];

            // Only one key, then it's not a deepSet, just assign the value in the object or add it to the array.
            if (keys.length === 1) {
                if (key === "") { // push values into an array (o must be an array)
                    o.push(value);
                } else {
                    o[key] = value; // keys can be object keys (strings) or array indexes (numbers)
                }
                return;
            }

            var nextKey = keys[1]; // nested key
            var tailKeys = keys.slice(1); // list of all other nested keys (nextKey is first)

            if (key === "") { // push nested objects into an array (o must be an array)
                var lastIdx = o.length - 1;
                var lastVal = o[lastIdx];

                // if the last value is an object or array, and the new key is not set yet
                if (isObject(lastVal) && isUndefined(f.deepGet(lastVal, tailKeys))) {
                    key = lastIdx; // then set the new value as a new attribute of the same object
                } else {
                    key = lastIdx + 1; // otherwise, add a new element in the array
                }
            }

            if (nextKey === "") { // "" is used to push values into the nested array "array[]"
                if (isUndefined(o[key]) || !isArray(o[key])) {
                    o[key] = []; // define (or override) as array to push values
                }
            } else {
                if (opts.useIntKeysAsArrayIndex && isValidArrayIndex(nextKey)) { // if 1, 2, 3 ... then use an array, where nextKey is the index
                    if (isUndefined(o[key]) || !isArray(o[key])) {
                        o[key] = []; // define (or override) as array, to insert values using int keys as array indexes
                    }
                } else { // nextKey is going to be the nested object's attribute
                    if (isUndefined(o[key]) || !isObject(o[key])) {
                        o[key] = {}; // define (or override) as object, to set nested properties
                    }
                }
            }

            // Recursively set the inner object
            f.deepSet(o[key], tailKeys, value, opts);
        },

        deepGet: function (o, keys) {
            var f = $.serializeJSON;
            if (isUndefined(o) || isUndefined(keys) || keys.length === 0 || (!isObject(o) && !isArray(o))) {
                return o;
            }
            var key = keys[0];
            if (key === "") { // "" means next array index (used by deepSet)
                return undefined;
            }
            if (keys.length === 1) {
                return o[key];
            }
            var tailKeys = keys.slice(1);
            return f.deepGet(o[key], tailKeys);
        }
    };

    // polyfill Object.keys to get option keys in IE<9
    var objectKeys = function(obj) {
        if (Object.keys) {
            return Object.keys(obj);
        } else {
            var key, keys = [];
            for (key in obj) { keys.push(key); }
            return keys;
        }
    };

    var isObject =          function(obj) { return obj === Object(obj); }; // true for Objects and Arrays
    var isUndefined =       function(obj) { return obj === void 0; }; // safe check for undefined values
    var isValidArrayIndex = function(val) { return /^[0-9]+$/.test(String(val)); }; // 1,2,3,4 ... are valid array indexes
    var isArray =           Array.isArray || function(obj) { return Object.prototype.toString.call(obj) === "[object Array]"; };
}));
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  <nav class="woocommerce-breadcrumb breadcrumbs"><span><span><a href="https://anhvuminer.com.vn/">Home</a></span> » <span class="breadcrumb_last" aria-current="page">Nonprofit Accounting: A Guide to Basics and Best Practices</span></span></nav>
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<article id="post-794" class="post-794 post type-post status-publish format-standard hentry category-bookkeeping">
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		<h1 class="entry-title">Nonprofit Accounting: A Guide to Basics and Best Practices</h1>
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<span class="posted-on"><i class="fa fa-calendar" aria-hidden="true"></i> <a href="https://anhvuminer.com.vn/nonprofit-accounting-a-guide-to-basics-and-best.html" rel="bookmark"><time class="entry-date published" datetime="2021-09-15T10:08:40+00:00">15 Tháng 9, 2021</time><time class="updated" datetime="2024-12-24T22:20:07+00:00">24 Tháng 12, 2024</time></a> - </span> 
<span class="byline"><i class="fa fa-user" aria-hidden="true"></i> <span class="meta-author vcard"><a class="url fn n" href="https://anhvuminer.com.vn/author/admin-2">admin</a></span> - </span> 
<span class="tp-post-view"><i class="fa fa-eye" aria-hidden="true"></i> 21 lượt xem </span> 
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	<p><img decoding="async" class='wp-post-image' style='display: block;margin-left:auto;margin-right:auto;' src="https://www.bookstime.com/wp-content/uploads/2020/04/Screenshot_11-1-300x200.png" width="259px" alt="bookkeeping for nonprofits"/></p>
<p>However, this narrative is changing in the sector as more people become aware that overhead is a necessary expense for growth. Encourage your  donors to judge your organization based on your impact in the community rather than <a href="https://www.pinterest.com/pin/1129770256522609041/">Law Firm Accounts Receivable Management</a> how much you spend on fundraising and administrative expenses. Filing the annual Form 990 is a key aspect of nonprofit accounting, and one that can’t be overlooked. Form 990 is the annual tax form that tax-exempt (e.g. 501(c)3) organizations are required to file each year to remain compliant with the regulations and requirements set by the IRS. Your nonprofit’s statement of cash flow shows how funding and cash moves in and out of the organization.</p>
<p><img decoding="async" class='aligncenter' style='display: block;margin-left:auto;margin-right:auto;' src="https://www.bookstime.com/wp-content/uploads/2020/06/unnamed.jpg" width="252px" alt="bookkeeping for nonprofits"/></p>
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<p class="ez-toc-title">Mục lục</p>
<span class="ez-toc-title-toggle"><a href="#" class="ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle" aria-label="ez-toc-toggle-icon-1"><label for="item-67d5b77999192" aria-label="Table of Content"><span style="display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;"><svg style="fill: #999;color:#999" xmlns="http://www.w3.org/2000/svg" class="list-377408" width="20px" height="20px" viewBox="0 0 24 24" fill="none"><path d="M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z" fill="currentColor"></path></svg><svg style="fill: #999;color:#999" class="arrow-unsorted-368013" xmlns="http://www.w3.org/2000/svg" width="10px" height="10px" viewBox="0 0 24 24" version="1.2" baseProfile="tiny"><path d="M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z"/></svg></span></label><input  type="checkbox" id="item-67d5b77999192"></a></span></div>
<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class="ez-toc-link ez-toc-heading-1" href="#Tools_to_effectively_manage_your_nonprofit_finances" title="Tools to effectively manage your nonprofit finances">Tools to effectively manage your nonprofit finances</a></li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class="ez-toc-link ez-toc-heading-2" href="#The_Beginner%E2%80%99s_Guide_to_Nonprofit_Accounting" title="The Beginner’s Guide to Nonprofit&nbsp;Accounting">The Beginner’s Guide to Nonprofit&nbsp;Accounting</a></li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class="ez-toc-link ez-toc-heading-3" href="#Ignoring_Donor_Restrictions" title="Ignoring Donor Restrictions">Ignoring Donor Restrictions</a></li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class="ez-toc-link ez-toc-heading-4" href="#Nonprofit_vs_for-profit_accounting" title="Nonprofit vs for-profit accounting">Nonprofit vs for-profit accounting</a></li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class="ez-toc-link ez-toc-heading-5" href="#What_are_some_best_practices_for_non_profit_bookkeeping" title="What are some best practices for non profit bookkeeping?">What are some best practices for non profit bookkeeping?</a></li></ul></nav></div>
<h2><span class="ez-toc-section" id="Tools_to_effectively_manage_your_nonprofit_finances"></span>Tools to effectively manage your nonprofit finances<span class="ez-toc-section-end"></span></h2>
<ul>
<li>Expenses are a necessary part of running a nonprofit, but you need to ensure they remain low or donors will be less likely to support your organization.</li>
<li>Invoices help nonprofits track funds and give donors proof of their gifts.</li>
<li>Nonprofit organizations are basically companies with their own set of financial rules and accounting systems.</li>
<li>The essential elements of nonprofit accounting are quite similar to regular accounting principles for profit-driven businesses.</li>
<li>If your nonprofit can afford to hire a bookkeeper, you should find someone with fund experience.</li>
<li>Accountants often obtain advanced degrees and CPA (certified public accountant) licenses, requiring deep technical knowledge.</li>
</ul>
<p>Your nonprofit’s statement of activities is also known as your income statement. This report shows the revenue and expenses over time at your organization. Plus, you can use this document to review your change in net assets from the beginning of the year to the end of the year. Additionally, you’ll need financial statements to obtain and maintain funding, grants, and other forms of support. Accurate financial statements also ensure nonprofits  manage charitable resources responsibly, ethically, and according to applicable laws. Delegating accounting tasks in nonprofit organizations ensures the organization is mindful of its financial commitments and adheres to legal and tax requirements.</p>
<p><img decoding="async" class='aligncenter' style='display: block;margin-left:auto;margin-right:auto;' src="https://www.bookstime.com/wp-content/uploads/2022/04/calculate-commission-accounting-1.jpg" width="252px" alt="bookkeeping for nonprofits"/></p>
<h2><span class="ez-toc-section" id="The_Beginner%E2%80%99s_Guide_to_Nonprofit_Accounting"></span>The Beginner’s Guide to Nonprofit&nbsp;Accounting<span class="ez-toc-section-end"></span></h2>
<p>Bookkeepers can be paid staff members or volunteers, but they should understand GAAP principles and fund accounting. One of the game-changers for nonprofit accounting management is Jotform’s integration with QuickBooks. This integration automatically syncs every donation, expense, or payment recorded via Jotform — eliminating the need for manual data entry, <a href="https://www.indeed.com/career-advice/career-development/how-is-sales-tax-calculated">how is sales tax calculated</a> reducing errors, and saving time. Explore these essential steps to nonprofit bookkeeping, from tracking donations to producing clear financial statements. Nonprofit bookkeepers should prepare financial reports regularly, with monthly or quarterly reports helping organizations track their financial health. Annual reports are also crucial for informing stakeholders and ensuring compliance.</p>
<h2><span class="ez-toc-section" id="Ignoring_Donor_Restrictions"></span>Ignoring Donor Restrictions<span class="ez-toc-section-end"></span></h2>
<p><img decoding="async" class='aligncenter' style='display: block;margin-left:auto;margin-right:auto;' src="https://www.bookstime.com/wp-content/uploads/2022/03/bf678a45-8bf0-42df-9c19-85d3a744c839-1024x683.jpeg" width="256px" alt="bookkeeping for nonprofits"/></p>
<p>Nonprofit accounting is crucial for any organization that relies on donations and grants to fulfill its mission, not just those without revenue. Nonprofit accounting ensures your organization uses its financial resources effectively to move your mission forward. QuickBooks is the most well-known accounting software for nonprofits and for-profit organizations. It has a nonprofit software that allows organizations to invoice, track donations, develop reports, and more.</p>
<div style='text-align:center'><iframe width='561' height='318' src='https://www.youtube.com/embed/pDenzG5IBHI' frameborder='0' alt='bookkeeping for nonprofits' allowfullscreen></iframe></div>
<ul>
<li>We&#8217;ve got you covered from understanding working capital to making the most of it.</li>
<li>This method ensures that funds are used for their intended purposes and helps maintain compliance with donor restrictions.</li>
<li>They need an organized system that makes sure purchases are ordered, budgeted for, and fulfilled properly from the get go.</li>
<li>As your nonprofit grows, you might need to hire a professional accountant.</li>
<li>In this case, you’d probably ask the lawyer what they would charge a client for the same services.</li>
</ul>
<p>Having working capital can mean having funds to invest in new technologies and growth. We&#8217;ve got you covered from understanding working capital to making the most of it. The IRS receives more than 70,000 applications for tax-exempt status every year, so be patient when submitting your application. If you don’t hear back from the IRS within 90 days, call Customer Account Services to check on its status.</p>
<ul>
<li>A skilled bookkeeper will be able to advise you on the finest accounting software for your organization.</li>
<li>Bookkeepers must meticulously track these donor restrictions and ensure that funds are allocated and spent according to donor intentions.</li>
<li>On the other hand, for-profit accounting involves tracking and reporting revenues from and expenses of producing goods or providing services for a fee.</li>
<li>It involves generally accepted accounting principles and other tasks all businesses employ when reporting finances, along with those specific to nonprofit organizations.</li>
<li>Whether in-house or outsourced, a skilled bookkeeper is crucial for operational efficiency and financial integrity.</li>
<li>For that reason, it may be best to get high-quality accounting software that can automate everyday tasks, create reports, and minimize room for errors.</li>
</ul>
<h2><span class="ez-toc-section" id="Nonprofit_vs_for-profit_accounting"></span>Nonprofit vs for-profit accounting<span class="ez-toc-section-end"></span></h2>
<p><img decoding="async" class='aligncenter' style='display: block;margin-left:auto;margin-right:auto;' src="https://www.bookstime.com/wp-content/uploads/2020/04/Payroll-Tax-1024x768-1.jpg" width="258px" alt="bookkeeping for nonprofits"/></p>
<p>Where exactly your income and expenses come from and how you group them in your budget will depend on the nature of your organization. An annual operating budget for a university will be very different than a budget for a small local art gallery. Once you’ve got a bookkeeping system and a bank account in place, you need some way of making sure the information in both of those systems lines up. Outside of IRS requirements, payroll can be the most important role for a nonprofit bookkeeper.</p>
<p><img decoding="async" class='aligncenter' style='display: block;margin-left:auto;margin-right:auto;' src="https://www.bookstime.com/wp-content/uploads/2019/08/software-4.png" width="256px" alt="bookkeeping for nonprofits"/></p>
<p>You know you need to keep your receipts and records, but you’re slowly finding that bookkeeping is more complex than simply tracking expenses. Bookkeeping for non-profit organizations requires a specific skill set because the rules differ from for-profit bookkeeping rules. To complete Form 990, you’ll need to provide information about your organization, its mission, and how it’s achieving its goals. It ensures that your nonprofit is actually acting as it claims to, using your financial statements as evidence.</p>
<h2><span class="ez-toc-section" id="What_are_some_best_practices_for_non_profit_bookkeeping"></span>What are some best practices for non profit bookkeeping?<span class="ez-toc-section-end"></span></h2>
<ul>
<li>By considering these factors, you can ensure that your nonprofit organization has the necessary resources to reach its objectives and is in line with GAAP standards.</li>
<li>Their role is to track daily transactions, record income, and monitor expenses to keep financial records accurate.</li>
<li>Instead, seek out an experienced nonprofit bookkeeping service you can trust.</li>
<li>Also called a balance sheet, this shows what your nonprofit organization owns and owes at a given point in time.</li>
<li>Non-profit organizations need to create a budgeting system to ensure they are allocating their resources efficiently and effectively.</li>
<li>Let’s start learning how to improve your nonprofit’s financial management.</li>
</ul>
<p>Zeffy, a 100% free fundraising platform for nonprofits, complements bookkeeping efforts by automatically generating tax receipts for donations. This feature streamlines record-keeping, saves time and reduces manual errors. When you outsource your finances to us, you’ll have access to professionals who are not only experts in finance, but also understand the intricacies of the nonprofit world. Our professional opinion is that the majority of nonprofits will benefit from outsourcing their bookkeeping and accounting needs, working directly with nonprofit accounting experts.</p>
<p>Proper bookkeeping includes entering <a href="https://www.bookstime.com/nonprofit-organizations">accounting services for nonprofit organizations</a> financial transactions and ensuring accurate ledger balances. Your bookkeeping activities support your compliance with fund accounting rules. Nonprofits, on the other hand, have different goals than for-profit businesses.</p>

	
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