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Bookkeeping Basics: What Every Nonprofit Bookkeeper Needs to Know, by Debra L. Ruegg, Lisa M. Venkatrathnam
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Bookkeeping Basics 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: single- versus double-entry bookkeeping; cash versus accrual basis accounting; posting financial transactions; keeping a ""paper trail"" of source documents; preparing a trial balance; creating financial statements; establishing internal controls; preparing for your annual audit; and closing out your fiscal year. 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!
- Sales Rank: #206363 in Books
- Published on: 2003-03-15
- Original language: English
- Number of items: 1
- Dimensions: 10.90" h x .40" w x 8.40" l, .95 pounds
- Binding: Paperback
- 128 pages
Review
"Bookkeeping Basics is a ‘must have.’ It’s essential for synchronizing the efforts of all of your staff members." -- Dawn Scranton, Administrator, Accounting Directors Inc., West Palm Beach, FL
"Short, concise, and not intimidating, with many reproducible forms. The internal control sections are wonderful." -- 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
"The step-by-step flow of information in this books answers the what, when, why, and how questions non-accountants have about bookkeeping." -- Anita Moreno-Navarro, Office Manager, Texas Nonprofit Network, San Antonio, TX
About the Author
Debra L. Ruegg is a principal and senior consultant with the LarsonAllen Public Service Group, a leading financial management consulting firm for nonprofits, foundations, and entrepreneurial government entities. She has worked extensively with local and national foundations and nonprofits on financial assessments, financial systems, internal operating systems, and organizational assessments and design. She is coauthor (with Susan Kenny Stevens) of Budgeting Your Way to Financial Stability.
Lisa M. Venkatrathnam is a freelance writer and owner of White Fence Communications. She previously served as a consultant at the LarsonAllen Public Service Group. She is coauthor of several books and numerous studies.
Most helpful customer reviews
6 of 6 people found the following review helpful.
Excellent Resource for Beginners & Small Non-Profits
By LAB
This is a great resource for people who do not have any background in bookkeeping or accounting. I did take two accounting classes in college about 10 years ago but they had pretty much nothing to do with bookkeeping or non-profits. What this book has that others don't is very specific instructions for going from source documents to making journal entries to posting to the General Ledger. Basic stuff that is incredibly confusing if you don't know how to do it-and ridiculously simple once you do.
3 of 3 people found the following review helpful.
Good introduction to NFP accounting concepts
By Saunya
I read this as a refresher of bookkeeping for a small non-profit organization. I picked up some good tips on reporting and budgeting. The details of accounting will have to be gleaned from another source, especially when there is an error in the records that isn't obvious. Overall, I found this book helpful.
0 of 0 people found the following review helpful.
Good, but left me wanting more
By Gravelle Pyle
Starting with little knowledge of bookkeeping, I learned from this book that much of what I thought I knew was wrong. It is a good book and has helped me a lot, but when I finished, I still had more questions than answers. In particular, I would have liked more information about how to begin and end an accounting period.
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