Exchange Rates

Exchange Rates

Managing exchange rates can be a big challenge when receiving a grant in a foreign currency. This starts from before the grant is approved, already when you are budgeting for your proposal. At that time, you are ‘translating’ your local currency prices into the...
Costs for International Travel

Costs for International Travel

Previously, we looked at domestic travel costs and how to properly account for them. Now I want to look at international travel. In general, the same principles apply as for domestic travel. But there are four aspects I want to highlight. Class Most international...
Costs for Domestic Travel

Costs for Domestic Travel

In another post, we looked at the costs of food and drinks while traveling and how Per diems may make it easier to handle the corresponding paperwork. Usually more strict requirements apply for travel costs and it is not as easy to avoid the nitty-gritty. In this post...
Year End Project Balances

Year End Project Balances

Sure, we are mid-January now, but if you are working in finance it is very likely that you are focused on the year end of the past year. Checking your expenses, your revenues, your balance accounts, your bank statements and so forth. And together with your project...
Time Sheets As A Tool For Accountability

Time Sheets As A Tool For Accountability

For many not-for-profits, staff is one of the key expenses for their work. While many funders do not like to feel they are subsidizing salaries, and prefer to contribute to real, tangible activities and products. That makes staff salaries a sensitive part of any...