Accounts, Classes, and Tags

MonkeyPod offers several ways to track your revenue and expenses.  It can be confusing for new users but is also necessary to comply with nonprofit accounting rules.

Accounts are Natural Categories

Accounts describe the  what behind a transaction. They do not describe the purpose of the expense or remittance.  Examples might include:

  • Office supplies
  • Payroll
  • Travel

Classes are Functional Categories

Classes help further clarify transactions because they describe the  why behind a transaction. Using a Class, you can identify the purpose of the spending. Examples might include:

  • Outreach program
  • Fundraising
  • Management and General

Tags are for Everything Else

Unlike accounts and classes, tags are totally optional. They are very useful track whatever distinctions matter to your organization. Common uses include locations, specific instances of an event, or a project or a program. Examples might include:

  • Atlanta office
  • 2022 Annual Gala
  • University of Michigan collaboration
  • Community Program 2023

Examples of Account, Class, and Tag in action

You buy an airline ticket to fly to meet with an important and influential donor about your capital campaign:

  • Account: Travel
  • Class: Fundraising
  • Tags (Optional): New Building Capital Campaign

During a membership drive, a new person signs up and pays their annual dues to access training materials through your organization:

  • Account: Dues Revenue
  • Class: Programs & Services: Training Program
  • Tags (Optional): 2022 Membership Drive

Where do I find Accounts, Classes, and Tags in the system?

You can find the settings for your Accounts, Classes, and Tags expand your organization's menu and locate Tags under the Accounting section.

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