Post by account_disabled on Dec 22, 2017 7:29:50 GMT
Hi,
I read that nonprofits, in addition to having "natural expenses" (assets, liabilities, equity, income, and expenses) also have to have a three-bucket "functional expenses" system that all of those natural expenses fall under. These are: program, management & general, and fundraising.
I am just learning about these functional buckets and that we're supposed to have them. Would I add them like any new account in the Chart of Accounts section and then edit my existing natural expenses to be a sub-account of one of these?
Please help.
Thanks!
I didn't find the right solution from the Internet.