GENERAL LEDGER
Overview of the general ledger: All of the organization’s financial transactions are centrally stored in the general ledger, which is kept up to date in compliance with the set financial policy. It offers a methodical log of every debit and credit entry made to different accounts, such as revenue, expenses, equity, liabilities, and assets. All […]
CASH BOOK PROCEDURE NGO
Procedure for Cash Books The NGO must keep a cash book to document all cash transactions every day in order to guarantee precise financial tracking and encourage openness. All cash inflows and outflows, including grants, gifts, petty cash disbursements, and reimbursements, must be reflected in the cash book, which the designated financial officer is required […]
INFORMATION AND COMMUNICATION NGO
financial Policy: Information and Communication Procedures Our NGO maintains explicit protocols for the exchange and communication of financial information in order to guarantee accountability and transparency. Every financial transaction needs to be precisely documented and promptly reported. The finance staff will provide monthly financial reports that include income, expenses, and budget variations, which the board […]
INFORMATION AND COMMUNICATION NGO
Author: Mohamed Yasin
PROCUREMENT PLANNING & APPROVAL NGO
PROCUREMENT PLANNING & APPROVAL NGO Procurement Planning and Approval: The first step in any NGO procurement activity should be a thorough needs analysis, which should be followed by the creation of a procurement strategy that complements the organization’s yearly budget and program objectives. A requisition form needs to be completed and approved by the finance […]
FINANCIAL REPORTING POLICY NGO
Policy for Financial Reporting Transparency, accountability, and prudent financial management are all priorities for our non-profit. In compliance with donor requirements and generally accepted accounting standards (GAAP), we keep timely and accurate financial records that accurately reflect all transactions. The finance committee reviews monthly financial statements to make sure they align with our operating objectives […]
FUND MANAGEMENT & DISBURSEMENT POLICY
Policy for Fund Management and Disbursement Our NGO uses a systematic approach to money management in order to guarantee accountability, transparency, and efficient use of resources. All money collected is placed into a specific organizational bank account, regardless of whether it comes from grants, contributions, or collaborations. Standardized accounting software is used to preserve financial […]
BUDGET PLANNING & APPROVALS
BUDGET PLANNING & APPROVAL NGO Budget Planning: All departments and project leads are required to submit recommended budgets based on their planned activities and objectives at the start of each fiscal year. Comprehensive estimates of projected expenses and predicted financing sources should be included in these submissions. In order to ensure alignment with the NGO’s […]
CASH BASIS OF ACCOUNTING POLICY
Accounting Policy’s Cash Basis For financial reporting and decision-making, the company uses the cash basis of accounting. This approach records expenses as soon as they are paid and recognizes income as soon as cash is received. This simple method gives a clear picture of the resources that are accessible at any given time by bringing […]
A FUND ACCOUNT
A fund account The integrity of financial policy within asset management organizations is directly supported by the precise assessment and reporting of investment funds, which is made possible in large part by fund accountants. Their primary duties include financial statement preparation, transaction reconciliation, and net asset value (NAV) calculations. These responsibilities are essential to maintaining […]