Your Quickbook chart of accounts should only detail specific expenses. Here's why it is important to do so!

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When it comes to nonprofit organizations, it is important to keep track of your expenses so that it is accurate as possible. A mistake that most nonprofits make is also including programs, fundraising, and administrative expenses in their QuickBooks chart of accounts. Programs, fundraising, and admin expenses are considered functional expenses so when it is included, it can lead to inaccurate financial reporting. This can be detrimental to a nonprofit organization in many ways. In today's video, we discuss additional reasons why nonprofits should avoid including programs, fundraising, and admin expenses in their QuickBooks Chart of Accounts so that they can better detail their expenses. Let's get started!

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