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 statementsBalance 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 accountingHow 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
- ISBN10 6612137991
- ISBN13 9786612137990
- Publish Date 15 April 2009 (first published 1 January 2009)
- Publish Status Active
- Out of Print 28 August 2012
- Publish Country US
- Imprint John Wiley & Sons
- Format eBook
- Pages 364
- Language English