Nonprofit Bookkeeping & Accounting For Dummies, 2nd Edition

Chapter 8

Starting with Manual Bookkeeping

IN THIS CHAPTER

Understanding the various journals

Identifying common nonprofit journal entries

Integrating spreadsheets

If you’re new to the nonprofit arena, you may initially decide to keep your accounting books yourself. There are many reasons this may make sense. For example, doing it yourself allows you to cut your outside accounting fees, freeing up money to fulfill program services. It’s also a great way to get a fundamental understanding of the accounting process for your nonprofit. This is especially helpful if you don’t have a background in accounting or you’ve recently taken an accounting class.

Not quite sure how to start? Well, your worries are over! In this chapter, I walk you through basic manual nonprofit bookkeeping and accounting from journals to financial statements. You also get a sprinkling of how to use a spreadsheet program to make your accounting life easier by setting up templates or transferring figures from one worksheet to another.

I assume that you’re using a manual checkbook to record deposits and disbursements. ...