Bookkeeping For Nonprofits: How Is It Different Than For Small Business?
Bookkeeping... you know what it is, but do you know how it differs when it comes to your nonprofit vs. Bookkeeping for a small business? It’s not the same, and those differences matter.
📚 ADDITIONAL RESOURCES:
•VIDEO: What is Unrelated Business Income in a Nonprofit? https://youtu.be/MEhTjulwLPM
•VIDEO: How Do You Manage Restricted Funds? https://youtu.be/eO1y53zEUpc
•VIDEO: Who REALLY Owns a Nonprofit? https://youtu.be/9kjfizq9a9o
•VIDEO: What Records Should a Nonprofit Keep? https://youtu.be/QPk_p1XWZ-s
•BLOG ARTICLE: Should Your Nonprofit Outsource its Bookkeeping Needs?
https://www.501c3.org/should-y....our-nonprofit-outsou
•BLOG ARTICLE: Bookkeeping For Nonprofits: How Is It Different Than For Small Business? https://www.501c3.org/bookkeep....ing-for-nonprofits-h
🏆 YOUR NEXT STEP:
•Fill out this form for a FREE consultation nonprofit bookkeeping: https://www.501c3.org/501c3-se....rvices/nonprofit-boo
•Register for Fundraising TV: https://www.501c3.org/fundraising-tv/
•Download the FREE eBook “10 Things You Need to Know Before Starting a Nonprofit” https://bit.ly/3XhFag0
0:00 Introduction
0:58 #1: Nature and Purpose of the Entity
1:46 #2: Revenue Recognition
2:36 #3: Financial Statement Terminology
3:16 #4: Tracking of Equity vs. Net Assets
4:23 #5: Profit vs. Surplus
5:42 #6: Taxes
6:24 #7: The Need for Professional Assistance
7:05 Conclusion
