A well-organized Chart of Accounts helps people outside your organization (like your CPA or a bank) easily read your books. For that reason, your account numbering, category n… See more

Every chart of Accounts should have the same five categories, in this order: Assets (1000s), Liabilities (2000s), Equity (3000s), Income (4000s), and Expenses (5000s+). Here’s ho… See more

Now, let’s put each of those 5 required categories together to get a full look at a nonprofit Chart of Accounts. If you’re ready to create a Chart of Accounts for your nonprofit, y… See more

Your Chart of Accounts is the foundation for any accounting system. So the accounts on your Chart of Accounts will appear on your financial statements, like the Statement of Financial P… See more