What is a Nonprofit Chart of Accounts? [Easily Explained]

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Table of Content:
0:00 Intro
0:12 What Is A Chart of Accounts?
0:27 Examples Of Types Of Accounts For Nonprofit?
0:54 Assets Explained
1:19 Equity Explained
2:12 Income Explained
2:33 Expense Explained
3:05 Nonprofit Equity with Example

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I think this is very general information. It will depend on the accrual basis. But, usually, nonprofit organizations really use cash basis. And assets= liabilities +net assets the equation that you are non-equities used really.

MaCherieMcAli
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Question about restricted funds: If you have restricted funds but you have to pay for yourself for the service you have provided to the donors. How do you pay yourself and what are the transactions? thank you in adv for your answer.

black-catmusic
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LOOOOL!!! Great explanation including some puns xD

rkrable
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it was on sale and it was shinny hahahahaha. I feel you pain Cool video Thanks

drpennemmanuel
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Dude! Your hilarious... For an accountant

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