Bookkeeping For A Non-Profit Organization
You have the opportunity to join a non-profit organization as their bookkeeper and while you may have a great deal of experience working within the business for profit world there are some differences between the two types of organizations that are important to consider. Usually a nonprofit organization will be providing an important service to one or more parts of a community and the people of the community will pay dues and become members of the non-profit organization. Or the organization may have donors who donate services, money, merchandise or grants. In a non-profit organization, therefore, your customers or clients are members, donors or grant providers. And your Chart of Accounts would include the accounts Member Dues Receivables, Donor Receivables and Grant Receivables in the Current Asset section of your Balance Sheet. When a pledge for a donation is received you would treat this pledge as a donor receivable and when a grant is awarded it would also be posted as a grant r