Oddball Expenditures or Miscellaneous Receivables?

By CarolCarrie / March 26, 2018 /
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What happens when you see a charge to a movie theater on the organization’s credit card and you realize this is probably not a valid expense? You talk to the staff member who made the charge and she exclaims, “Oh no, the organization credit card and my personal card are both blue and I pulled…

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Accounts Receivable Aging and Due Dates

By CarolCarrie / March 12, 2018 /
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Aging. Now there’s a topic we can all relate to! But I’m not talking about the kind of aging you and I experience each day. I’m talking about accounts receivable aging. The biggest difference is that accounts receivable, unlike you and me, do not get better with age. In our last post, Why Care About…

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Pledges Receivable and Accounts Receivable – Why Care?

By CarolCarrie / March 5, 2018 /
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“We have pledges receivable, but they are not on our books. Shouldn’t they be in our books?” Such began our consulting engagement with a local nonprofit organization, Spring Center (not the real name). Pledges Receivable and Accounts Receivable Our Chart of Accounts Grand Tour continues with the next type of account commonly found on the…

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Undeposited Funds

By CarolCarrie / February 26, 2018 /
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Normally every bank type account in your chart of accounts aligns with an actual bank account you maintain at a banking Institution. This is not the case with Undeposited Funds, an account that hides beneath many transactions you make in QuickBooks. This topic will be our last destination for Cash in our Nonprofit Chart of…

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Pay by E-checks vs. Physical Check

By CarolCarrie / February 19, 2018 /
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In most countries, checks  have “gone the way of the fax machine and rotary telephone.” (Bloomberg, “Why Can’t Americans Ditch Checks?” July 26, 2017). Our Chart of Accounts Grand Tour continues to explore Cash, the first account on your balance sheet, as we look at options to manage cash payments electronically. Intuit makes it very…

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Enter QuickBooks Bank Transactions the Easy Way

By CarolCarrie / February 12, 2018 /
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Who doesn’t want to save time on nonprofit bookkeeping? And who wouldn’t like to have more accurate financial reports ready more quickly each month? The trick lies in putting systems in place that enable you to work efficiently. The interesting thing about putting a system in place to do something efficiently is that you usually…

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Ten Pointers on Nonprofit Cash Management

By CarolCarrie / February 5, 2018 /
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We kicked off our Nonprofit Chart of Accounts Grand Tour last week with an overview of cash. While mission is the heart, cash is the lifeblood of a nonprofit organization. All nonprofits must manage cash to survive and thrive. To that end, we offer you the following list of ten pointers on managing cash. 1.…

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Nonprofit Cash

By CarolCarrie / January 29, 2018 /
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This week we pick up our Nonprofit Chart of Accounts Grand Tour talking about cash. Cash is the lifeblood of a nonprofit organization. It’s also the first account on the balance sheet since it’s the most liquid asset. Nonprofit cash has attributes that are very different from the cash of for-profit companies. In this post…

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Easy 1099 E-File with QuickBooks Online

By CarolCarrie / January 22, 2018 /
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Before we embark on the Grand Tour of the Chart of Accounts, a timely topic came to our attention. This month, of course, is January, the month when you must get those 1099-MISC forms out to all your non-employee contractors. It’s easy to forget, until you have to deal with it each year, just what…

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Nonprofit Chart of Accounts Grand Tour

By CarolCarrie / January 15, 2018 /
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Nonprofit bookkeeping is simply coding transactions to the chart of accounts. What could possibly go wrong? Based on the questions we receive and the nonprofit clients we help, apparently a lot! Accounts Are Mandatory Every transaction recorded in your nonprofit’s QuickBooks (or other accounting software) must be coded to two or more accounts in your…

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