Nonprofit Bookkeeping and Accounting For Dummies
Nonprofit Bookkeeping and Accounting for Dummies
The first five chapters are basically an introduction to accounting which is useful, but not really geared towards nonprofits. Chapter 6 is the only chapter that provides any "hands-on" advice. After reading the first five chapters, I was extremely excited to finally be reading something useful. However, there was a major let down at the end of chapter 6. First off, the author clearly starts off by saying that you need to approach accounting with the end in mind.
The end being the financial statements and the statements to the donors. The author gives you an overview of how to get there: Well Chapter 6 starts off explaining the journal entries. We're talking real live examples.
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The author then shows you how to post to the ledger. At this point, the author seems to run out of steam. She never shows you how to do the other steps!
No idea on how to post to the trial balance or adjusting entries. Then the author does NOT show you how to go from the trial balance to the financial statements! When Chapter 6 ended and the author started talking about balancing your checkbook and grants I was very angry!! Don't tell us to keep the end in mind and then not show us how to get there! It seriously felt like something was left out. The author has a love affair with grants.
Not how to do the accounting for grants, but how to obtain grants. If I wanted a book about how to obtain grants, then I would have ordered one! This book probably has more information in it about grants than it does about accounting. One final, glaring error: The author briefly mentions unrestricted, temporarily restricted, and permanently restricted funds! All nonprofits are required to have these funds in their financial statements.
The author seems almost oblivious to the matter. She does mention that they are necessary but she never shows any examples of journal entries using temporary or permanently restricted transactions. In short, if you just want a gentle introduction to nonprofit accounting, then this might be a good book for you. If you actually need to do some nonprofit accounting make journal entries, post to the ledger, create a trial balance, generate financial statements in accordance with generally accepted accounting principles then this book will not get you there.
I still haven't found a book that takes a nonprofit from journal entry to financial statements. This book was promising, but ultimately petered out in the end. The entire book is a cheerleading book to get money from the government. I had no experience with a nonprofit or business bookkeeping and the book did not help me at all! Had some common sense statements that anyone might already guess themselves but had no useful technical information. It is a waste of trees. I needed more help, though.
This helped explain the laws regarding nonprofit accounting,etc. I was in need of more direction, and QuickBooks for Churches helped me a lot more than this book. But, this book really is more general,and I was starting from ground zero. This book is useful for all different types of accounting software.
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Very easy to follow, good explanations and examples. I think I can actually use the Quickbooks software now that I understand the basic principles of accounting.
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As a non-profit with a very lean staff, this info lets us do more with less. Mostly about grants and keeping track of a bunch of grant related stuff so you are ready for an audit. I work for a church. Not as helpful for me. Maybe there was a church accounting for dummies that I missed I am giving it three stars because it does no explain how some of the fundraising accounts it suggestion you set up in your non-profit company. It also does not explain some of the information put on some of the financial statements. If you are not already familiar with bookkeeping and accounting you might be a little lost when reading some of the information.
Nonprofit Bookkeeping and Accounting For Dummies is an easy to read book that is very helpful to a person wishing to start a nonprofit organization. Each chapter builds upon the next chapter; in essence, it repeats the important hi-lights from the previous chapter. This book explains the terminology in laymen's terms, which makes it easy to understand the material. I would highly recommend this book as well as any book within the series For Dummies.
Now I understand monthly statements. This is my first exposure to accounting. The book is equipping me to talk with accountants. I have been on boards of non-profits. Now I am understanding the monthly reports much better. See all 71 reviews. Most recent customer reviews. Published 5 months ago. Published 6 months ago. Published 7 months ago. Published 8 months ago.
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Published 1 year ago. Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers. Learn more about Amazon Giveaway. Nonprofit Bookkeeping and Accounting For Dummies. This practical guidehas everything you need to know to operate your nonprofit accordingto generally accepted accounting principles GAAP -- fromdocumenting transactions and budgeting to filing taxes, preparingfinancial statements, and much more.
You'll see how to stayorganized, keep records, and be prepared for an audit. Begin with the basics -- understand common financial terms, choose your accounting methods, and work with financialstatements Balance your nonprofit books -- set up a chart of accounts, record transactions, plan your budget, and balance your cashflow Get the on federal grants -- find grants and apply forthem, track and account for federal dollars, and prepare for agrant audit Stay in good standing with Uncle Sam -- set up payrollaccounts for employees, calculate taxes and deductions, andcomplete tax forms Close out your books -- prepare the necessary financialstatements, know which accounts to close, and prepare for the nextaccounting cycle Know what to do if you get audited -- form an internal auditcommittee, follow IRS rules of engagement, and keep an immaculatepaper 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 good practices The most common errors found during nonprofit audits How to figure out employee payroll deductions and taxes Paperback , pages.
Published May 1st by For Dummies first published To see what your friends thought of this book, please sign up. To ask other readers questions about Nonprofit Bookkeeping and Accounting for Dummies , please sign up. Be the first to ask a question about Nonprofit Bookkeeping and Accounting for Dummies. Lists with This Book. This book is not yet featured on Listopia. Feb 11, Annalee Hall rated it liked it. This did the job I needed. Jun 28, Adam Carrico rated it liked it. My old boss left this in his desk after he quit and I got bored today and skimmed it in case there was any great info, but I ended with like one additional idea and learned that s seem kinda easy, which is something new I have to handle this year.
It's a fairly good resource I guess, but nothing too in depth if you work in the sphere. If you are starting a nonprofit or are starting roles in an accounting function, probably a good overview to get an idea of how things work. If you want spec My old boss left this in his desk after he quit and I got bored today and skimmed it in case there was any great info, but I ended with like one additional idea and learned that s seem kinda easy, which is something new I have to handle this year. If you want specifics on how to handle taxes or audits or s, it doesn't do much more than tell you that it basically all exists.
Jul 04, Sylvester Kuo rated it liked it Shelves: A book for a beginner like me, it provides worked examples, definitions and exercises.
Nonprofit Bookkeeping and Accounting For Dummies: Sharon Farris: mivynewanisy.cf: Books
My only critique is that it's also a promotion of the SAGE programme, which is unnecessary. Dec 08, Julie Stephenson rated it liked it Shelves: I'm not sure it is the right resource for me. Hanif Maragh rated it really liked it May 15, Karen Moreno rated it it was amazing Jun 25, Kimberley A Moorehead rated it it was ok Oct 12, Kerry Booth rated it liked it Apr 10, Melissa rated it really liked it Aug 12, Gloria rated it it was amazing Oct 15, Meredith Dennis rated it liked it Jan 02, Raul Alberto Caceres rated it really liked it Mar 22,