Chart of Accounts
![[Deleted User]](https://wa.vanillicon.com/v2/a9f425e635086ffed50c125b1df40801.svg)
Are there guidelines and best practices on how to set up and maintain your nonprofit's chart of accounts? How does the structure of your chart of accounts impact your ability to plan and understand your budget - as well as create and analyze your financial statements? Join us on our webinar to learn more.
Comments
-
Yes Yakima! We will be sending out the replay later today - along with a copy of the slides. Keep an eye out for it and let me know if you don't receive it. It was a great session with 30 minutes of valueable Q&A!
0 -
Thank you!
0 -
Here's a link to the webinar for anyone who missed it!
Kara Adams, M.Ed., CAE (she/her/hers)|Community Manager|kara.adams@foundant.com
Headquartered: Bozeman, MT| Remote Location: Chicago, IL | Direct: 312-802-1374 |www.foundant.com|
1 -
@TammyTilzey Any chance this video still exists somewhere else?
1 -
Yes @MatthewJohnson - I'll get that link fixed. Here is the working link for now:
0 -
This is great, thank you Tammy! Were there any examples shared? We are preparing for the FY 24/25 budget process and want to update our chart in the next month or so.
1 -
Yes - but here is a quicker way to get to the example they shared:
I hope that is helpful. And if anyone else has a helpful resource on this topic - please share!
2 -
One principle that helped us - regarding account numbering for expenses - was being aware of the IRS categorization of non-profit expenses. (I apologize if this has already been discussed here).
1) Program Service Expenses (we used 6000 to 6999 for quick identification)
2) Management and General Expenses (we used 7000 to 7999)
3) Fundraising Expenses (we used 8000 to 8999)
Hope that might help.
3 -
Thanks @AlonzoWilhelm! appreciate you sharing this helpful tip!
1
