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• ↓ Fundamentals
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• ↓ Chart of Accounts Design Is Fundamental to Your Tax, Financial Reporting
• ↓ How to Set Up an Effective Accounting Department for a Small Nonprofit
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"The finance and accounting functions are as dynamic as ever. There are several emerging and innovative applications for general ledger automation, real-time management reporting, and data mining for financial analysis — and that means business and operations teams are receiving better information more efficiently.However, even advanced software can underperform without a well-designed chart of accounts (COA). Before you can consider investing in the newest accounting or reporting software, start by looking at your chart of accounts design."

"Running a nonprofit means balancing your passion for the mission with the realities of sound financial management. Even the smallest organizations need accurate, transparent books—both to maintain compliance and to earn the trust of donors, grantors, and board members."

"Building an accounting department for a small nonprofit doesn’t require a large team or complicated systems. With the right mix of in-house support, outsourced expertise, and board oversight, your organization can achieve the same level of financial discipline as a much larger nonprofit."

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Other Resources

Chart of Accounts Design Is Fundamental to Your Tax, Financial Reporting

How to Set Up an Effective Accounting Department for a Small Nonprofit