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September 29, 2006, Newsletter Issue #34: Improving the accounting system for non-profits
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Tip of the Week
Non-profit accounting is as complex as commercial accounting, although different. Owners and managers of not-for-profits need to cut the amount of time they spend worrying about accounts and ensuring that their accounting meets federal regulations.
A fund accounting tip: As with commercial businesses, accounting software can be used by non-profits to increase income, by determining where the most funding comes from and goes to. Being able to determine who are your best customers or sources of donation, means that you will be able to develop a better idea of the most profitable way to approach your market.
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