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Book Synopsis:
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, and how to figure out employee payroll deductions and taxes.
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Are you a nonprofit organization struggling to keep up with all the financial tasks? Look no further - Nonprofit Bookkeeping and Accounting For Dummies is here to simplify your life. Our comprehensive guide will walk you through the fundamentals of bookkeeping and accounting, providing you with the essential knowledge and skills to manage your organization's finances effectively.
With Nonprofit Bookkeeping and Accounting For Dummies, you can say goodbye to the confusion and stress of balancing your books. Our user-friendly approach breaks down complex concepts into easy-to-understand language, making it accessible to both financial novices and seasoned professionals. Gain the confidence to track income and expenses, maintain accurate records, and comply with tax regulations effortlessly.
Not only will Nonprofit Bookkeeping and Accounting For Dummies save you time and effort, but it will also help your organization thrive. Proper financial management is crucial for any nonprofit to demonstrate transparency and accountability to donors and stakeholders. By implementing the best practices outlined in our guide, you can ensure that your organization's finances are organized, efficient, and reliable.
Don't let financial management hinder your nonprofit's mission. Equip yourself with the knowledge and skills to be in control of your organization's finances. Take the first step towards financial success today with Nonprofit Bookkeeping and Accounting For Dummies. Learn more about how our guide can revolutionize your nonprofit's financial management.
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