fixed assets

Every January we hear some frequently asked questions from our nonprofit and church customers who are logging transactions and closing the books for the previous year. Since it can be…

What’s the difference between a nonprofit vs. a charity, and how do foundations fit in? Sometimes it’s hard to intuitively know the difference between these organizations. In our video from…

Whether your church is large or small, it likely has some fixed assets, so it’s important to know the requirements for tracking those assets. Accurate accounting is essential for stewarding…

A capitalization policy will help determine whether an item your organization buys is a regular expense or a fixed asset. Organizations use a capitalization policy to set a threshold for…

In a previous video, we looked at how a  capitalization policy works in an organization. That document states that any item purchased over a certain value is considered a fixed asset.…

This is a pretty big topic that can get complex fast, but here are the basics on what fixed assets are and how to track them in your accounting. A…

Fixed Assets Fixed assets are commonly found on a balance sheet in the assets section. Other items grouped together in the assets section usually include cash, investments, accounts receivables, and…

If your nonprofit does fundraising, you will probably receive items that can be used in a silent auction or sold in a raffle. But how do you treat these donations…