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40 Essential Features of a Modern Accounting System contributed by Sage Intacct

Download the Nonprofit Accounting Software Buyer’s Checklist and get a list of the 40 essential features of a modern accounting system

The Nonprofit Accounting Software Buyers Guide contributed by Sage Intacct

Download the Nonprofit Accounting Software Buyer’s Guide to get a valuable tool to help you evaluate and select the right accounting software for your nonprofit.

How to Check a Bank Reconciliation Statement – Top Tips

A bank reconciliation is a very powerful control tool that enables the organisation to identify omissions and errors in its own records, as well as being the only way to spot cheque fraud, bank errors and even bank fraud. It is therefore very important for managers to carefully check bank reconciliation statements every month.

Reading Project Budget Monitoring Reports – Top Tips

A budget monitoring report is a financial report that shows actual income and expenditure for a certain period compared to the budget for the same period. Finance staff should prepare budget monitoring reports regularly throughout each project, normally once per month

Petty Cash Float Top-Up Example

When you operate a fixed float for petty cash (called an imprest) then the amount you top up is always equal to the amount that you spent. This form lists out all the payments made since the previous top up, as the basis for requesting the next top up. Use it every time you wish to top up your petty cash float, so that signatories can know what the money was spent on before withdrawing more cash from the bank.

Payroll Spreadsheet

This payroll spreadsheet can be used in most countries, and is designed for small NGOs with fewer than 15 or so employees.

Journal Voucher Example

A transaction involving money is always backed up by a payment voucher or receipt. The equivalent back up document for a transaction not involving the movement of money is called a journal voucher. Examples of ‘non-cash’ transactions include to recognise a donation in kind of a computer, to correct a coding error in a previous closed month, to charge interest on a loan or depreciate fixed assets.

Funding Grid Example

A funding grid is also sometimes called an income allocation grid. As you submit funding proposals, sign grant agreements and generate unrestricted income through the year, use the funding grid to keep track of how much of your annual budget is funded. It helps you identify funding gaps and potential double funding.

Donor Report Example

Donors may have their own codes, formats and currencies. You can use your budget worksheet as a basis for converting your budget (with your own codes, currencies etc) into the donor’s required presentation.

Chart of Accounts

A chart of accounts lists all the different categories of income, expenditures, assets and liabilities in your organisation, together with an account code and a description. Project codes are like cost centres, indicating different projects, donors or departments.