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James Halpin - Bookkeeping for Nonprofits: A Step-by-Step Guide to Nonprofit Accounting

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    Bookkeeping for Nonprofits: A Step-by-Step Guide to Nonprofit Accounting
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Bookkeeping for Nonprofits: A Step-by-Step Guide to Nonprofit Accounting: summary, description and annotation

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BOOKKEEPING FOR NONPROFITS

Bookkeeping for Nonprofits is a hands-on guide that offers nonprofit leaders, managers, and staff the tools they need to create and maintain a complete and accurate set of accounting records. This much-needed resource provides those with little or no bookkeeping experience with practical advice in a highly accessible format.

Written by Murray Dropkin and Jim Halpin, Bookkeeping for Nonprofits is a step-by-step introduction to keeping accounting records, which form the foundation for a nonprofit organizations financial reports, tax returns, budgets, cash forecasts, and grant proposals. Using this volume as a guide, nonprofit leaders and staff will be able to set up books with or without accounting software and ensure that the records meet the needs of their organization. Bookkeeping for Nonprofits is a comprehensive resource that

  • Discusses how transactions provide day-to-day information for tracking cash balances and cash requirements
  • Shows how transactions provide information to management and the board of directors for budgeting and other essential tasks
  • Explains basic bookkeeping concepts, such as the accounting equation, the chart of accounts, and income and expense tracking
  • Guides readers through the nuts and bolts of recording a transaction
  • Provides an overview of alternative recordkeeping methodologies and how to choose among them
  • Designed to be easy to use, the book is filled with illustrations and checklists.

    Bookkeeping for Nonprofits is the remarkable new guide for a new generation of accounting challenges bookkeepers face every day.
    Frances Hesselbein, chairman and founding president, Leader to Leader Institute

    Bookkeeping for Nonprofits provides a rare combination of consummate professionalism and clear, accessible writing. Underlying the wealth of technical information lies a great deal of wisdom. The authors have found a way to translate their enormous, on-the-ground experience into usable, actionable policies, procedures, and practices. It is a book that gives all you need to create a fiscally responsible agency with the bonus of helping you become a better manager and a wiser person.
    Peter Block, business consultant and author of Flawless Consulting and The Empowered Manager

    Bookkeeping for Nonprofits provides an excellent understanding of the practical application of bookkeeping in the real work environment.
    Ron Werthman, vice president, finance/treasurer and CFO, Johns Hopkins Health System, The Johns Hopkins Hospital

    This is a wonderful book that every bookkeeper in a nonprofit organization should have.
    Eusebio David, fiscal director, Federation of Multicultural Programs, Inc.

    James Halpin: author's other books


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    Contents Readers are invited to view and download supplementary materials for - photo 1

    Contents

    Readers are invited to view and download supplementary materials for Bookkeeping for Nonprofits: A Step-by-Step Guide to Nonprofit Accounting.

    The supplementary materials are available FREE on-line.

    If you would like to download and print out an electronic copy of the supplementary materials, please visit www.josseybass.com/go/bookkeepingfornonprofits .

    Thank you,

    Murray Dropkin and James Halpin

    Previous books by Murray Dropkin include:

    The Budget-Building Book for Nonprofits: A Step-by-Step Guide for Managers and Boards, Murray Dropkin and Bill LaTouche (1998)

    The Cash Flow Management Book for Nonprofits: A Step-by-Step Guide for Managers, Consultants, and Boards, Murray Dropkin and Allyson Hayden (2001)

    Copyright 2005 by John Wiley Sons Inc All rights reserved Published by - photo 2

    Copyright 2005 by John Wiley & Sons, Inc. All rights reserved.

    Published by Jossey-Bass

    A Wiley Imprint

    989 Market Street, San Francisco, CA 941031741 www.josseybass.com

    No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, (978) 7508400, fax (978) 7504470, or on the web at www.copyright.com . Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 7486011, fax (201) 7486008, or online at http://www.wiley.com/go/permissions .

    Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

    Jossey-Bass books and products are available through most bookstores. To contact Jossey-Bass directly, call our Customer Care Department within the U.S. at (800) 9567739, outside the U.S. at (317) 5723993, or fax (317) 5724002.

    Jossey-Bass also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books.

    Library of Congress Cataloging-in-Publication Data

    Dropkin, Murray.

    Bookkeeping for nonprofits: a step-by-step guide to nonprofit accounting/ Murray Dropkin, James Halpin.

    p. cm.

    Includes bibliographical references.

    ISBN-13 978-0-7879-8022-6 (alk. paper)

    ISBN-10 0-7879-7540-0 (alk. paper)

    1. Nonprofit organizationsAccounting. I. Halpin, James, date.

    II. Title.

    HF5686.N56D76 2005

    657.2dc22

    2005003106

    List of Exhibits and Checklists

    Chapter One
    : Snapshot Report from Bookkeeper to Management
    Chapter Three
    : Modified Unified Chart of AccountsAssets
    : Modified Unified Chart of AccountsLiabilities
    : Modified Unified Chart of AccountsNet Assets
    : Modified Unified Chart of AccountsContributions, Support (Revenue)
    : Modified Unified Chart of AccountsExpenses
    Part Two
    : Example Entry Created by Cash Receipts Software
    Chapter Four
    : Posting to Record Co-Payment and Bill Client for Services
    : Posting to Record Cash Sale of an Inventory Item
    : Posting to Record the Cost of a Sale of an Inventory Item
    : Posting to Record a Sales Transaction
    : Posting to Record Payment by Customer
    : Posting to Record Receipt of Contribution
    : Journal Entry to Record an Unrestricted Grant Award
    : Posting to Record Receipt of Grant Payment
    : Posting to Record Receipt of Grant Payment When Requirement Not Met
    : Journal Entry to Record Savings Account Interest
    : Posting to Record Receipt of Royalty Payment
    : Posting to Record Receipt of Unbilled Membership Dues
    : Journal Entry to Record the Receipt of Rent Security Deposit
    : Posting to Record Receipt of Rent for Two Months
    : Journal Entry to Reclassify Deferred Rent to Rental Income
    : Posting to Record the Sale of a Building
    Chapter Five
    : Posting to Record the Receipt of an Open A/R Item
    : Journal Entry to Record Savings Account Interest
    : Posting to Record Receipt of Insurance Claim Proceeds
    : Posting to Record Supplier Refund for Existing Credit Memo
    : Posting to Record the Return of a Deposit
    : Posting to Record the Transfer of Funds
    : Posting to Record the Receipt of an Unbilled Contribution by Credit Card
    : Internal Control Checklist for Cash Receipts
    : Posting to Write-Off a Bad Debt
    Chapter Six
    : Posting to Establish a Payroll Checking Account
    : Posting to Transfer Net Pay to Payroll Account
    : Journal Entry to Record the Weekly Payroll (Simplified)
    : Posting to Record the Weekly Payroll (Simplified)
    : Posting to Record the Payroll Tax Payment
    : Posting to Record the Payroll with Travel Reimbursement (Simplified)
    : Posting to Record the Payroll (Detailed)
    : Federal Payroll Tax Forms
    : Calendar Used to Calculate a Payroll Accrual
    : Journal Entry to Record the Payroll Accrual
    : Journal Entry to Reverse the Payroll Accrual
    Chapter Seven
    : Posting to Record a Vendor Invoice
    : Posting to Record a Vendor Credit Memo
    Chapter Eight
    : Posting to Record the Printing of A/P Checks in Payment of Open Items
    : Posting to Record a Manual Check in Payment of an Unrecorded Invoice
    : Internal Control Checklist for Cash Disbursements
    : Posting to Establish a Petty Cash Fund
    : Posting to Record the Petty Cash Fund Reimbursement
    Chapter Nine
    : Journal Entry to Accrue Revenue
    : Journal Entry to Reverse the Revenue Accrual
    : Calendar to Calculate a Payroll Accrual
    : Journal Entry to Record the Payroll Accrual
    : Journal Entry to Reverse the Payroll Accrual
    Chapter Ten
    : Sample Bank Reconciliation
    : Internal Control Checklist for Bank Accounts
    : Journal Entry to Write-Off One Months Insurance Premium
    : Journal Entry to Accrue One Months Real Estate Tax
    : Entries to Record the Payment of the Quarterly Real Estate Tax Bill, Reversing an Accrual and Writing-Off the Prepaid Portion
    : Journal Entry to Write-Off One Months Prepaid Real Estate Tax
    : Posting to Record a Temporarily Restricted Contribution
    : Posting to Record Various Hotline-Related Expenses
    : Journal Entry to Reclassify a Temporarily Restricted Net Asset
    Chapter Eleven
    Next page
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