Category: Bookkeeping

This snapshot includes what the company owns (its assets) and owes (its liabilities), as well as its capital. It outlines each component by breaking them down into categories, like current and fixed values, or short-term and long-term payments, to calculate the totals. A balance sheet should be prepared at least annually for external reporting purposes,…

Tracking and reporting on mission impact require additional performance indicators and qualitative measures beyond traditional financial statements. Implement a robust system to track all donations and contributions received by the nonprofit. This includes recording donor information, donation amounts, and any restrictions or conditions attached to the contributions. Financial Statements for Nonprofits Class tracking allows you…