Chart of Accounts

Your chart of accounts is the foundation of your nonprofit's financial tracking. It organizes all your financial transactions into meaningful categories for reporting, compliance, and decision-making.

Understanding Account Types

Alignmint uses the standard five account types required for nonprofit accounting:

Assets (1000-1999)

What your organization owns or is owed:

Current Assets: Cash, checking accounts, savings, money market funds
Receivables: Pledges receivable, grants receivable, accounts receivable
Investments: Stocks, bonds, mutual funds, endowment investments
Fixed Assets: Property, equipment, vehicles (less accumulated depreciation)
Other Assets: Prepaid expenses, deposits, intangible assets

Liabilities (2000-2999)

What your organization owes:

Current Liabilities: Accounts payable, accrued expenses, payroll liabilities
Deferred Revenue: Advance payments for services not yet delivered
Long-term Liabilities: Mortgages, loans, notes payable

Net Assets (3000-3999)

The difference between assets and liabilities, categorized by donor restrictions:

Without Donor Restrictions: Unrestricted funds available for any purpose
With Donor Restrictions: Temporarily restricted (purpose or time) and permanently restricted (endowments)

Revenue (4000-4999)

Income your organization receives:

Contributions: Individual donations, corporate gifts, foundation grants
Program Revenue: Fees for services, tuition, event tickets
Investment Income: Interest, dividends, realized gains/losses
Other Revenue: Rental income, merchandise sales, miscellaneous

Expenses (5000-5999)

Costs of operating your organization:

Program Expenses: Direct costs of delivering your mission
Management & General: Administrative overhead, accounting, HR
Fundraising: Costs of raising money (events, appeals, donor cultivation)

Default Chart of Accounts

Alignmint comes with a pre-configured chart of 79 accounts designed specifically for nonprofits. This includes all the accounts you need for:

Financial statements that meet nonprofit accounting standards
Form 990 reporting
Grant tracking and compliance
Fund accounting with restriction tracking

Customizing Your Accounts

Navigate to Administration → Chart of Accounts to customize:

Add Accounts: Create new accounts for specific programs, grants, or tracking needs
Edit Accounts: Change names, descriptions, or parent relationships
Deactivate Accounts: Hide accounts you no longer use (preserves historical data)
Account Hierarchy: Create parent-child relationships for detailed reporting

Bank Accounts

The Chart of Accounts also manages your bank account connections:

Link checking, savings, and credit card accounts
Track balances in real-time
Connect your bank for automatic transaction import
Manage multiple accounts for different purposes