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

  
  


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  IRS Form 990 good practices

  
  


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  The most common errors found during nonprofit audits

  
  


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  How to figure out employee payroll deductions and taxes