Submitting reports on time and accurately is crucial for federal award recipients to maintain a good relationship with the awarding agency and secure ongoing funding.
Managing a nonprofit organization’s overhead (management and general) expenses is just as important as managing program and fundraising expenses. Most nonprofits would not dispute this statement.
Accounts receivable (AR) is an asset account found on the Balance Sheet or Statement of Financial Position that represents money due to the organization from another party.
Petty cash is a small amount of cash kept on hand to pay for incidental expenses such as cab fare or postage, where it is not convenient to use a check or credit card.
