Best Practices for Designing Your Chart of Accounts

The chart of accounts is the organizational structure that nonprofits use to record transactions and generate reports from their accounting software. This session is designed to help nonprofit leaders better understand and make improvements to their chart of accounts so that they can more easily generate the information they need for compliance and for data-informed decision-making.

Content will include:

• Defining the five account types: Assets, Liabilities, Net Assets, Revenues, and Expenses
• Overview of dual entry accounting
• Defining the chart of accounts
• Key questions a good chart of accounts should answer for your organization
• Best practices in structuring or adjusting your chart of accounts

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