Bookkeeping Basics , livre ebook

Turner Publishing Company - Debra L Ruegg , Lisa M. Venkatrathnam

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117 pages

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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!

Sujets

Economie gestion

Economics

Bookkeeping

Business

Informations

Publié par	Turner Publishing Company
Date de parution	15 mars 2003
Nombre de lectures	0
EAN13	9781618588999
Langue	English

Informations légales : prix de location à la page 0,1500€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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Turner Publishing Company 200 4th Avenue North, Suite 950 Nashville, TN 37219

445 Park Avenue, 9th Floor New York, NY 10022

www.turnerpublishing.com

Copyright © 2003 by Fieldstone Alliance.

Published by Turner Publishing Company with permission of Fieldstone Alliance

Fieldstone Alliance is committed to strengthening the performance of the nonprofit sector. Through the synergy of its consulting, training, publishing, and research and demonstration projects, Fieldstone Alliance provides solutions to issues facing nonprofits, funders, and the communities they serve. Fieldstone Alliance was formerly Wilder Publishing and Wilder Consulting departments of the Amherst H. Wilder Foundation. If you would like more information about Fieldstone Alliance and our services, please contact
800-274-6024
www.FieldstoneAlliance.org

To learn more about LarsonAllen Public Service Group, contact:

LarsonAllen Public Service Group 220 South Sixth Street, Suite 300 Minneapolis, MN 55402-1436 Phone 612-376-4500 www.larsonallen.com/publicservice
Edited by Vincent Hyman and Judith Peacock Text design by Kirsten Nielsen Cover design by Rebecca Andrews Illustrations by Rick Peterson

Manufactured in the United States of America Fourth printing, June 2009

Library of Congress Cataloging-in-Publication Data
Ruegg, Debra L.
Bookkeeping basics : what every nonprofit bookkeeper needs to know /
by Debra L. Ruegg and Lisa M. Venkatrathnam.
p. cm.
Includes bibliographical references and index.
9781618588999
1. Nonprofit organizations--Accounting. I. Venkatrathnam, Lisa M., 1968- II. Title.
HF5686.N56R84 2003
657’.2--dc21
2002156145

Limited permission to copy
We have developed this publication to benefit nonprofit and community organizations. To enable this, we grant the purchaser of this work limited permission to reproduce worksheets, forms, charts, graphics, or brief excerpts from the book so long as the reproductions are for direct use by the individual or organization that purchased the book and not for use by others outside the organization. For example, an organization that purchases the book to help its staff or board make plans relevant to the topic of this book may make copies of material from the book to distribute to others in the organization as they plan. Some of the worksheets in this book may be available for download from the publisher’s web site. The same conditions expressed here apply to the use of downloadable worksheets.

Limits
The worksheets may NOT be reproduced for training outside the organization that purchased the book. For example, a consultant may not purchase one copy of this work and then use the worksheets with multiple organizations. In this case, the organization that the consultant is working with should purchase a copy of the book. Nor may an “umbrella organization” purchase a single copy of the book and then make copies of key worksheets for every member organization under its umbrella.

For permission to make multiple copies outside of the permission granted here—for example, for training, for use in a compilation of materials, for public presentation, or to otherwise distribute portions of the book to organizations and individuals that did not purchase the book—please visit the publisher’s web site, www.FieldstoneAlliance.org/permissions .

Aside from the limited permission granted here, all other rights not expressly granted here are reserved.
Table of Contents
Title Page Copyright Page List of Tables About the Authors Acknowledgments Preface CHAPTER 1 - Bookkeeping Overview CHAPTER 2 - Setting the Stage CHAPTER 3 - Your Chart of Accounts CHAPTER 4 - Recording Transactions CHAPTER 5 - Financial Statements 101 CHAPTER 6 - The Importance of Donor Intent CHAPTER 7 - The Bookkeeping Cycle CHAPTER 8 - Internal Controls Part I: Protecting What You Own CHAPTER 9 - Internal Controls Part II: Protecting Your Expenditures and Liabilities Afterword Appendices Glossary - Terms Used in Nonprofit Accounting Bibliography Index More Results-Oriented Resources from Fieldstone Alliance Free Resources Other Fieldstone Alliance Books
List of Tables
TABLE 1 TABLE 2 TABLE 3 TABLE 4 TABLE 5 TABLE 6 TABLE 7 TABLE 8 TABLE 9 TABLE 10 TABLE 11 TABLE 12 TABLE 13 TABLE 14 TABLE 15 TABLE 16 TABLE 17 TABLE 18 TABLE 19 TABLE 20 TABLE 21 TABLE 22
About the Authors
L arsonAllen Public Service Group is one of the leading financial management consulting firms for nonprofits, foundations, and entrepreneurial government entities throughout the United States, specializing in financial and strategic advice, training, and assurance services.

DEBRA L. RUEGG is a principal and senior consultant with the LarsonAllen Public Service Group. Since joining the firm in 1990, she has worked extensively with local and national foundations and nonprofits on financial assessments, financial systems, internal operating systems, and organizational assessments and design. Debra is coauthor of Budgeting Your Way to Financial Stability. She is also an experienced and popular trainer in the areas of nonprofit financial management and financial techniques.

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, and has also worked in higher education and church-based initiatives. Lisa is coauthor of From Spreadsheets to Streetcorners: The 2000 Report on the Financial Health of Minnesota’s Nonprofits ; All the Way to the Bank: Smart Money Management for Tomorrow’s Nonprofit ; Keeping the Books: Developing Financial Capacity in Your Nonprofit Press , and numerous studies commissioned by foundations and nonprofits across the country.
Acknowledgments
T his book would not have been possible without the support and hard work of many individuals. We would like to thank Vince Hyman, Fieldstone Alliance, for input and advice throughout the writing process; manuscript reviewers William Flowers, Louisa Hackett, Matt Karl, Claire Morduch, Monika Moss, Anita Moreno-Navarro, Gloria Nedved, Jeanne Peters, Liz Schaffer, and Dawn Scranton for their time and input; and most especially the nonprofit practitioners who attended our bookkeeping seminars over the past six years and who helped shape the curriculum that eventually formed the basis of this book.
Preface
I n our financial consulting with nonprofits and foundations over the past two decades, we have seen again and again a simple reality: When it comes to nonprofit organizations, one size does not fit all. We have worked with both large and small nonprofits, some with intricate financial systems and others with no systems at all. Regardless of an organization’s size, however, financial record keeping is a critical function.

The accounting field is, of course, dedicated to the art and science of financial information. Truth be told, however, many nonprofits don’t have a trained bookkeeper on staff, to say nothing of an accountant or financial manager. If this describes your organization, there’s good news: With a little bit of education, you can acquire enough 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 by which to make decisions
This book is intended for nonprofit staff who, whether they have an accounting background or not, are called on to track their organization’s financial activity. You might be an executive director, a receptionist, a program manager, or a volunteer board member. Regardless of your position, all we ask is that you are willing to learn. In turn, we’ll explain not only how to do things, but also why they’re important to do.

You should be forewarned that the world of accounting and bookkeeping has its own rules and vocabulary. A word like “credit” has a specific meaning, and, as much as you may or may not like how the term is used in bookkeeping, you frankly don’t have a choice in the matter. Save your creativity for efforts other than bookkeeping and you’ll be much happier in the long run. Ironically, as much as bookkeeping is a science, it also requires a certain degree of faith. Some rules won’t make much sense at first. Instead of fighting them, accept them at face value knowing you’ll eventually see how everything comes together in the end.

This book focuses primarily on manual bookkeeping. Once you have a basic understanding of bookkeeping, you will be in a better position to select a software package that best meets your nonprofit’s needs, and you will be able to use that system effectively and accurately.
One final word of introduction: Computer software programs have made it much easier for groups of all sizes to maintain accurate and up-to-date financial records, without the expense of a full-time bookkeeper or an outside accountant. But like many things in life, accounting software is only as good as the knowledge of the person using it. For this reason, this book focuses primarily on the intricacies of manual bookkeeping. If you don’t understand how various pieces of financial information should interrelate on a piece of paper, you won’t be able to make it work on a computer system, either. Once you have a basic understanding of bookkeeping, however, you will be in a much better position to select a software package that best meets your nonprofit’s needs, and you will be able to use that system effectively and accurately.

Throughout this book you will find examples to illustrate the concepts we discuss in the text. You will also find a detailed glossary of all italicized terms, along with blank sample financial forms. Feel free to copy these forms for your organization to use.

We turn your attention, now, to the basics of bookkeeping and why it is in your organization’s best interest to keep good financial records.
CHAPTER 1
Bookkeeping Overview
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