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Bookkeeping Basics: What Every Nonprofit Bookkeeper Needs to Know
Binding Information: Softcover Product Code: 069296 ISBN: 978-0-940069-29-9 Publisher: Fieldstone Alliance Pages: 128 Size: 8.5" X 11" X .36" Price: $29.95 No trained bookkeeper on staff? No problem. Many nonprofits don't have a trained bookkeeper on staff. This crucial function goes to whoever has the time and the willingness to do it. Lack of accounting training or background is not only frustrating for the individual, but also potentially risky for the nonprofit. Bookkeeping Basics will enable you to successfully meet the basic bookkeeping requirements of your organization. It gives you the knowledge and skills to track the financial activity of your nonprofit in a way that brings order out of chaos, safeguards the organization's assets, and provides useful information for making sound decisions. Clearly defines what you most need to know In plain language, the book explains concepts and processes you most need to know, including:
Step-by-step instructions, clear definitions of terms, and detailed examples help you put concepts into actions. Reproducible forms include an accounts payable register, accounts receivable register, accounts receivable register, general ledger, financial summary form, grant tracking form, internal controls activity flow chart, and an audit preparation checklist. Bottom line: If you're the bookkeeper for your nonprofit—by choice or default—this book is for you! Quotes: What others are saying about Bookkeeping Basics... “Bookkeeping Basics is a 'must have.' It's a valuable resource for your bookkeeper, and it is essential for synchronizing the efforts of all of your staff members. This material allows your whole organization, including the board and your CPA, to understand and share common financial goals.” —Dawn Scranton, Administrator, Accounting Directors, Inc., West Palm Beach, FL “Many bookkeepers in nonprofits inherit the role of bookkeeper. They are left wondering, 'What do I need to do as a bookkeeper? When do I need to do it? Why do I do it? And how do I do it properly?' The step-by-step flow of information in this book answers the what, when, why, and how questions non-accountants have about bookkeeping, and the check lists help explain the bookkeeper's roles and responsibilities.” —Anita Moreno-Navarro, Office Manager, Texas Nonprofit Network, San Antonio, TX “Bookkeeping Basics is very methodical in its approach, introducing one concept at a time. This book will apply to many types of nonprofits and community groups because it is so elemental in nature and because the examples are from these types of groups.” —Matt Karl, Senior Research Associate, Charities Review Council, Saint Paul, MN “Short, concise, and not intimidating, with many reproducible forms. The internal control sections are wonderful, with good explanations and everyday relevance - the piece that holds the rest of the accounting system together.” —Gloria Nedved, CEO, Ripple Creek Business Solutions, Inc., Denver, CO “The step-by-step approach combined with the tips, sample forms, and the audit preparation checklist are of tremendous value.” —William K. Flowers, CPA, Financial Consultant, Nonprofit Financial Center, Chicago, IL Table Of Contents: Chapter 1: Bookkeeping Overview Bookkeeping Defined The Importance of Good Financial Records The Three Steps of Bookkeeping Chapter One Key Concepts Chapter 2: Setting the Stage Cash Basis Versus Accrual Basis Accounting Double-Entry Bookkeeping Chapter Two Key Concepts Chapter 3: Your Chart of Accounts Designing Your Chart of Accounts Chapter Three Key Concepts Chapter 4: Recording Transactions Source Documents Journal Entries Posting to Ledger Accounts Preparing a Trial Balance Chapter Four Key Concepts Chapter 5: Financial Statements 101 Statement of Activities Statement of Position Other Financial Reports Chapter Five Key Concepts Chapter 6: The Importance of Donor Intent Nonprofit Accounting Standards Handling Contributions Chapter Six Key Concepts Chapter 7: The Bookkeeping Cycle Monthly Activities The Annual Audit Closing Entries Tax and Compliance Reporting Chapter Seven Key Concepts Chapter 8: Internal Controls Part I: Protecting What You Own Budgets and Financial Statements Segregation of Duties Receiving Cash and Checks Preparing the Deposit Reconciling Your Bank Statement Accounts Receivable Aging of Accounts Receivable Accounting for Bad Debts Petty Cash Inventories Fixed/Capital Assets Depreciation Disposition of Fixed/Capital Assets Chapter Eight Key Concepts Chapter 9: Internal Controls Part II: Protecting Your Expenditures and Liabilities Accounts Payable Accounts Payable Records Aging of Accounts Payable Paying the Bills Employee Advances Employee Travel Payroll Other Internal Control Issues Chapter Nine Key Concepts Afterward Appendices Glossary: Terms Used in Nonprofit Accounting Bibliography Index
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Phone 651.556.4500 | Book Orders 1.800.274.6024 | Fax 651.556.4517 | PO Box 8009, Saint Paul, MN 55108