January is the perfect time to refresh and refocus. Nonprofit accounting can be complicated, and accuracy is essential. It is crucial for organizations to be able to provide a transparent account of how they’re spending their funds so that donors can feel confident supporting their work, and agencies must file complete and correct reports with the IRS or risk losing their nonprofit status or being assessed expensive fines. Whether you’re looking for a comprehensive introduction or just need a refresher, this article from business.com contains everything you need to know about accounting for nonprofit agencies.
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