Your hands-on guide to keeping great records and keeping your nonprofit running smoothly
Need to get your nonprofit books in order? This practical guide has everything you need to know to operate your nonprofit according to generally accepted accounting principles (GAAP) from documenting transactions and budgeting to filing taxes, preparing financial statements, and much more. You'll see how to stay organized, keep records, and be prepared for an audit.
- Begin with the basics understand common financial terms, choose your accounting methods, and work with financial statements
Balance your nonprofit books set up a chart of accounts, record transactions, plan your budget, and balance your cash flow
Get the 4-1-1 on federal grants find grants and apply for them, track and account for federal dollars, and prepare for a grant audit
Stay in good standing with Uncle Sam set up payroll accounts for employees, calculate taxes and deductions, and complete tax forms
Close out your books prepare the necessary financial statements, know which accounts to close, and prepare for the next accounting cycle
Know what to do if you get audited form an internal audit committee, follow IRS rules of engagement, and keep an immaculate paper trail
Open the book and find:
- The difference between bookkeeping and accounting
How to maintain a manual or computer record-keeping system
Ten vital things to know when keeping the books
Do's and don'ts of managing federal grant money
How to prepare for an audit of your financial statements
IRS Form 990 good practices
The most common errors found during nonprofit audits
How to figure out employee payroll deductions and taxes
Part I: Accounting and Bookkeeping Nonprofit Style.
Chapter 1: The Nuts and Bolts of Nonprofi t Bookkeeping and Accounting.
Chapter 2: Starting with Basic Bookkeeping and Accounting.
Chapter 3: Introducing Financial Statements.
Chapter 4: Keeping Good Records: Using a Manual System or Computer System.
Part II: Balancing Your Nonprofit Books.
Chapter 5: Setting up the Chart of Accounts for Nonprofits.
Chapter 6: Recording Transactions and Journal Entries.
Chapter 7: Balancing the Checkbook: Donations and Expenses.
Chapter 8: Balancing Cash Flow: Creating an Operating Budget.
Chapter 9: Staying in Nonprofi t Compliance.
Part III: Accounting for Nonprofit Situations.
Chapter 10: Introducing Federal Grants.
Chapter 11: Tracking and Accounting for Federal Dollars.
Chapter 12: Getting Ready for the Grant Audit.
Chapter 13: Accounting for Payroll and Payroll Taxes.
Chapter 14: Doing the Accounting for Tax Form 990.
Part IV: Wrapping Up the Books.
Chapter 15: Analyzing the Statement of Activities.
Chapter 16: Reporting Financial Condition on a Statement of Financial Position.
Chapter 17: Eyeing the Cash Flow Statement.
Chapter 18: Organizing the Statement of Functional Expense.
Chapter 19: Closing the Nonprofi t Books.
Chapter 20: Preparing for an Accounting Audit.
Part V: The Part of Tens.
Chapter 21: Ten Important Things to Know When Keeping Nonprofit Books.
Chapter 22: Ten Tips to Keep Your Nonprofit Viable.