How to use Accounts, Classes, and Tags

MonkeyPod offers three primary dimensions to track your revenue and expenses - Accounts, Classes, and Tags.  It can sometimes be confusing for new users, but understanding these dimensions is necessary to comply with nonprofit accounting rules. Select one of the headings below to learn more about each of these dimensions.

Tags can also be used for task management, program management and so much more! Learn more about using tags for non-financial purposes.

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, Classes, 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 my MonkeyPod?

You can find the settings for your Accounts, Classes, and Tags under the Finance menu.

Screenshot showing where to find Accounts, Classes, and Tags

Frequently Asked Questions

  1. Can I use Classes and Tags for other things besides revenue and expenses?

    1. Yes! Especially tags, check out this article on Tags to learn more about them!

Want more amazing video content? Check out our YouTube channel!