<p>Your hands-on guide to keeping great records and keeping your nonprofit running smoothly</p><p>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.<p><ul> <li>Begin with the basics ? understand common financial terms, choose your accounting methods, and work with financial statements</li> <li><p>Balance your nonprofit books ? set up a chart of accounts, record transactions, plan your budget, and balance your cash flow</li> <li><p>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 </li> <li><p>Stay in good standing with Uncle Sam ? set up payroll accounts for employees, calculate taxes and deductions, and complete tax forms</li> <li><p>Close out your books ? prepare the necessary financial statements, know which accounts to close, and prepare for the next accounting cycle</li> <li><p>Know what to do if you get audited ? form an internal audit committee, follow IRS rules of engagement, and keep an immaculate paper trail</li></ul><p>Open the book and find:<p><ul> <li>The difference between bookkeeping and accounting</li> <li><p>How to maintain a manual or computer record-keeping system </li> <li><p>Ten vital things to know when keeping the books</li> <li><p>Do's and don'ts of managing federal grant money</li> <li><p>How to prepare for an audit of your financial statements </li> <li><p>IRS Form 990 good practices</li> <li><p>The most common errors found during nonprofit audits</li> <li><p>How to figure out employee payroll deductions and taxes</li></ul>