...continued (click here to know more) Below is an outline of control objectives and general procedures for making purchases which can be integrated into the financial management policy of NGOs: “12.3 Control Objectives The control objectives here will be to ensure that: a) All purchases are … [Read more...] about Objectives and Procedures for Purchases in NGOs – NGO Financial Management Policy
How NGOs can maintain Stock Register – NGO Financial Management Policy
...continued (click here to know more) A stock register is a records of goods purchased and/or stored. Usually there is a set format for this register and there are certain protocols to be followed while maintaining this register. Below are the guidelines that can be mentioned in the financial … [Read more...] about How NGOs can maintain Stock Register – NGO Financial Management Policy
How to develop Financial Planning and Budgeting in NGO Financial Management Policy
...continued (click here to know more) NGOs receive specific grants to implement activities but it may not be necessary that the entire allocated grant will be spent for a certain activity. NGOs usually have their own internal valuation systems to judiciously allocate resources for different … [Read more...] about How to develop Financial Planning and Budgeting in NGO Financial Management Policy
How to develop Financial Reports in NGOs – NGO Financial Management Policy
...continued (click here to know more) Financial reports are developed for internal use such as monitoring expenses within the organization and also for external use such as for submitting reports to donor agencies. In many cases, there can be separate formats for both the uses. Nevertheless, it is … [Read more...] about How to develop Financial Reports in NGOs – NGO Financial Management Policy
Internal Control Measures and Management Information Report – NGO Financial Management Policy
...continued (click here to know more) Further to developing different reports as part of the financial management, below are details on internal control measures and management information report: “14.3 Internal Control Measures In addition to setting up adequate internal control measures, … [Read more...] about Internal Control Measures and Management Information Report – NGO Financial Management Policy
How to maintain Fixed Assets Register – NGO Financial Management Policy
...continued (click here to know more) As part of the financial management policy, NGOs need to maintain a Fixed Assets Register and below is the process for it, which can be included in your policy manual: “15. Fixed Assets Register It is the responsibility of the Finance/Accounts manager to … [Read more...] about How to maintain Fixed Assets Register – 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 … [Read more...] about How to manage Accounts & Finances in NGOs – A Manual for developing NGO Financial Management Policy
What goes into an NGO Financial Management Policy?
...continued (click here to know more) An NGO financial management policy is basically a manual that covers the accounting policies, systems and procedures of the organization. It is developed not only for governing the financial transactions of the organization so that its staff can follow the set … [Read more...] about What goes into an NGO Financial Management Policy?
Who develops and updates the Financial Management Policy in NGOs
...continued (click here to know more) Before embarking upon the process of presenting the financial management policy for NGOs, it is important to outline the roles and responsibilities of the staff involved in developing and updating the policy. Usually, the Board of Directors or the NGO Board … [Read more...] about Who develops and updates the Financial Management Policy in NGOs
How to Manage Cash Account and Transactions in NGOs – NGO Financial Management Policy
...continued (click here to know more) Cash payments need to be documented firmly by NGOs in their financial management policy. Since small sums of cash payments are common on a day-to-day basis, a certain procedure needs to be developed and mentioned in the policy manual. An example is given … [Read more...] about How to Manage Cash Account and Transactions in NGOs – NGO Financial Management Policy
