“Do we need to focus on profit or programs?” It's the question nonprofits ask on a regular basis but when answers are buried inside data — it’s hard to build consensus. The goal with this base is to quickly identify your programs profitability, spread this knowledge around the organization and make decisions together from a place of shared understanding.
This base will take your bank transactions and quickly roll them up generating reports to show you Profit/Loss per program and program types like Overhead or Events. Create the classifications that are specific to your organization. You can also save time by categorizing your programs in Xero as 'Tracking categories'.
You only need to do this process at the beginning of a new month for the previous month’s data.