Assets
The only fixed asset that does not get depreciated
Land
The function in QBO that creates a payable
Bill
The equivalent of net assets for for-profits
Retained Earnings
main source of revenue for non-profits
Contributions
990
A formal commitment, generally in writing, to make a contribution of a specific amount
Pledge
The report you pull in QBO to show list of outstanding bills
AP Aging
Accumulated unrestricted revenue less expenses on the balance sheet
Net Assets without Donor Restriction
a contribution made of goods or services rather than cash
In-kind contribution or gift in kind
The most common tax status among non profit organizations
501(c)(3)
Money goes here prior to hitting the bank account, allowing you to group entries into a single deposit
Undeposited Funds
Deferred Revenue
Funds that are designated for a specific purpose
Temporarily Restricted Net Assets
Classified in QBO as either programmatic, administrative or fundraising
Functional Expenses
Tax form issued to contractors making over $600
1099
The only negative that is "allowed" on the balance sheet
an account that represents money owed to individuals upon leaving the organization, per their internal policy
Accrued Vacation or Accrued PTO
Unrestricted funds set aside by the board for a specific use or time
Board Designated Funds
This account should always be coded 100% to administrative class
Accounting
An organization who accepts funds on behalf of another organization who does not have its own tax-exempt status
Fiscal Sponsor
Results from a business making advanced payments for goods or services to be received in the future
Prepaid Expenses
Account most commonly used at year end to ensure proper accrual accounting
Accrued Expenses
A donor-restricted gift to be invested and generate earnings that cannot be used to fund maintenance the nonprofit but the earned income can be withdrawn and used to maintain the nonprofit.
Corpus (will also accept Endowment)
An event that needs a ticket to attend
Special Event
Owners of non-profits
Public