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How to Create a Nonprofit Chart of Accounts: 3 Steps + Tips

Get Fully Funded

A chart of accounts (COA) is the foundation for all financial reporting. When well-structured, this document can help you accurately track your income and expenses to streamline budgeting and financial reporting. Make sure your chart is easy to edit so your team can add, remove, and change categories over time as needed.

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6 Best Practices for Increasing Engagement with Digital Impact Reports

sgEngage

And once you’ve shared your report with stakeholders, be sure to track engagement metrics afterwards to see how well your report performed and in which ways it could be strengthened in the future. Infographics, charts, and visuals can also help make complex information more digestible and showcase the difference your organization makes.

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Elevate your association’s annual report to connect with members and stakeholders

Nimble AMS

When you think about your reporting goals, you’ll put your organization on track for success. What goals show your members and key stakeholders that you’re on track to fulfill your mission? Pictures can go a long way in keeping readers actively engaged with your report. Make your report stand out with the right tools.

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5 Tips for Community Health Centers to Transition to New Fund Accounting Software

sgEngage

Name a point of contact who sees the big picture. It will help you envision the ease of an optimized structure for your chart of accounts and the business rules that will be most beneficial. This enables the vendor to account for everything and map your history to a new and optimized chart of accounts.

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Don’t Jeopardize Your Nonprofit Compliance with a Commercial Accounting System?

sgEngage

With an accounting system designed to manage and track balances by fund and subfund across fiscal years and with supported documentation, you can minimize risk by making nonprofit compliance a streamlined process. Track restricted funds by project to manage funder requirements Restricted revenue is at the heart of nonprofit accounting.

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Beyond the Rainbow—Build a Diverse Board of Independent Thinkers

.orgSource

It can fast track important projects. They should be visionaries who chart the direction, evaluate options, and are prepared to challenge ideas they feel are not in the association’s best interests. They must focus on big-picture questions. But good governance shouldn’t be comfortable. Collegiality among leaders is a good thing.

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3 Signs Your Organization Needs a Nonprofit Accounting System

sgEngage

It may be time to look for a purpose-built fund accounting system when you begin managing a variety of different funds and restrictions, when you have trouble getting a financial picture of your entire organization, or when you need to expand your internal controls past the functionality of your current system. Think Bigger!

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