Navigate to Accounting to access key nonprofit reports that compile your financial data and allow you to filter through your data. Click Financials on the navigation bar to access each financial report described below.
Trial Balance & Detailed Trial Balance
The Detailed Trial Balance Report displays total amounts by account, as well as the debits and credits. The report will show the balance for the current date or the date you choose to filter by. You may view the journal entries that make up the beginning or ending balance by clicking on the balance in the report. The Trial Balance Report displays a simplified version of the Detailed Trial Balance.
Statement of Functional Expense
The Statement of Functional Expense report is used solely in nonprofit organizations. This report shows expenses allocated by service (Program(s), Management & General, and Fund Development) and natural account classification (Payroll, Professional Fees, Supplies, etc.) The detailed breakdown of overall expenditures is helpful for auditors, board members, and donors who like to see how the organization spends its funds. This data is also used by services that generate nonprofit charity ratings.
Statement of Financial Position
The Statement of Financial Position, used in nonprofits, is the equivalent of a for-profit business's balance sheet. This report provides a snapshot of your organization's finances at a point in time. The equation that applies to the Statement of Financial Position is Assets = Liabilities + Net Assets
- Assets include accounts with cash and cash equivalents.
- Liabilities include accounts payable, accrued expenses, and deferred liabilities.
- Net Assets, which replaces the equity section of a for-profit balance sheet, is the balance of assets after liabilities have been subtracted.
Statement of Activities
The Statement of Activities is the equivalent of a for-profit business's income statement. This report reflects revenues and expenses that impact your organization's finances over a period of time. The equation that applies to the Statement of Activities is Revenues - Expenses = Change in Net Assets. Revenues and expenses are broken down by account or type of activity. GAAP outlines how revenues and expenses should be classified.
- If service filters are selected, you have the option to split the report into columns to display the account balances by service.
Accounts Payable Aging Report
The Accounts Payable Aging report displays outstanding expenses that are due to profiles. Each unpaid expense is sorted and totaled by vendor. Each expense displays its due date as well as the number of days in which it is due. The amount is listed in a grid by the following aging schedule: current, 1-30, 31-60, 61-90, 90+, and total.
Accounts Receivable Aging Report
The Accounts Receiving Aging report displays outstanding invoices that are due from profiles. Each unpaid invoice is sorted and totaled by each profile. Each invoice displays its due date as well as the number of days in which it is due. The amount is listed in a grid by the following aging schedule: current, 1-30, 31-60, 61-90, 90+, and total.
A 1099 is required to be issued for all vendors that are not organized as corporations under the tax code. The 1099 Totals report includes name, address, tax id, and total paid to the vendor for a calendar year.
The Budget Report summarizes the budgets available within your site and provides a comparison against the actuals. This includes the variance between the budget and the actual as well as the total change in net assets.
The General Ledger Report displays transactions by account set by the filters at the top of the page. The account balance is displayed along with each transaction and transaction type that makes up the balance.
The Donation Statement report displays a list of all profiles that have donated along with the donation information for a specified date range. This report can be used to identify profiles that need a required donation statement for tax purposes.
Sector Education Resources
The following resources relate to this topic more broadly, beyond your site.