Bookkeeping for Nonprofits: A Basic Guide & Best Practices
Restricted donations — funds earmarked for specific purposes — must be tracked separately from unrestricted funds. Properly categorizing these transactions prevents mismanagement and ensures compliance with donor requirements. Design a chart of accounts that mirrors your programs and funding streams. Nonprofit bookkeeping basics If you have to cut costs at your organization, see if you […]
Nonprofit Accounting Basics for Founders, Board Members & Executives
That’s why your first step in the bookkeeping process should be finding a bookkeeper (and evaluating your outsourcing options). Without accurate and transparent accounting you can also lose the public trust about where resources are allocated. This is an often overlooked piece of recordkeeping that is critically important. The entry should contain information such as […]
How Accounts Receivable Automation Helps Your Law Firm Thrive
It’s easier for clients to pay their bills—meaning firms get paid for their hard work without needing to constantly chase up. Below, we explore these areas in detail and outline how to improve the accounts receivable process at your law firm with Clio Manage. When a law firm accepts payment for a legal retainer, they […]