How to manage Accounts & Finances in NGOs – A Manual for developing NGO Financial Management Policy

How to manage Accounts & Finances in NGOs – A Manual for developing NGO Financial Management Policy

According to the local laws and regulations of most countries, all registered NGOs are required to maintain a system for recording and submitting all types of financial transactions made by them for the purposes of implementing projects and running their organization. Since finances are a crucial part of organizational management, it is always a better idea to maintain a ‘Financial Policy’ for following procedures to keep the accounting system effective, transparent and easily manageable.

Following a systematic procedure and maintaining a policy on managing of NGO finances is a strong indicator of the good health of an organization. Even donor agencies would be most happy to render immediate funding support to such NGOs which have systematic policies in place for effective financial management. Operational or administrative manuals on conducting day-to-day financial transactions can be strong tools to demonstrate the good governance, transparency and systematic management of an NGO. Besides, such systems also enable in keeping a track of NGO expenditures.

But how can NGOs develop such manual for accounting and financial management? What are the various procedures for managing finances in an NGO? What are different types of systems to be followed for accounts management in NGOs? Is there a sample policy on NGO financial management?

We are providing a detailed explanation of how financial systems work in NGOs and how NGOs can make use of this guidance material to develop their own financial policy for effective organizational management, fulfillment of local statutory requirements and better mobilization of funding for the organization.

Sample Forms

Comments

6 Responses to How to manage Accounts & Finances in NGOs – A Manual for developing NGO Financial Management Policy

  1. All these are helpfull,but wat about these like me who dont always have access to the inter-net,if only we could get hard copys insted.

  2. These are all very helpful but i hope somebody can consolidate and put it on pdf document for easier downloading. thank you and great effort!

  3. PLease put all this info into a .pdf document. It is tedious and slow to have to download each page separately. Thank you