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Why Deferred Revenue Exists: A Closer Look

When it comes to managing the finances of a nonprofit organization, choosing the right accounting method is important.

This guide will walk you through how to record a cash or check donation, step by step.

In-kind donations are non-cash gifts, such as donated equipment, professional services, or supplies. In-kind donations can be relatively easy to book.

Financial statements are crucial for understanding your nonprofit’s financial health, making informed decisions, and raising new funds

You will also hear this report called an Income Statement or a Profit & Loss Statement.

The Cash Flow Statement primarily focuses on liquid cash, meaning actual cash that the organization has on hand, and cash equivalents.

The Statement of Financial Position is also known as the Balance Sheet and provides a snapshot of your organization’s finances.

If you're new to QuickBooks, understanding how debits and credits work can be confusing.

Recording donations in QuickBooks is typically done using a sales receipt, which both records the information correctly and allows you to easily print or email a donation receipt.

When using QuickBooks, a Sales Receipt can be used to accept donations and provide donors with a receipt.

Running a nonprofit means staying on top of IRS filing requirements

The Statement of Functional Expenses (SFE) is a cornerstone report for nonprofit organizations