If your nonprofit struggles to keep track of your grant funding, try these four simple steps in QuickBooks Online to improve your tracking system and make grant reporting a snap.
A new Accounting Standards Update will provide greater transparency regarding the amount of in-kind donations received by a nonprofit organization, as well as how their value was determined.
Nonprofit accounting standards require incoming contributions to be classified as one of two categories: contributions with donor restrictions, or contributions without donor restrictions.
Some in-kind (or non-cash) contributions can be difficult to identify and record. But by following a few basic rules and being aware of the most common types of in-kind donations, you can ensure that the value of these contributions are captured in your financial records.