Reserves and Funds

Reserves and Funds

The balance sheet of your annual accounts report includes a section called ‘reserves & funds’, if you have any organizational capital at all (negative or positive). For continuity of the organization it is needed to have reserves, even though as not-for-profit it...

How to Handle Tangible Fixed Assets?

How to Handle Tangible Fixed Assets?

If you buy equipment that costs more than a certain amount, this equipment becomes a so-called tangible fixed asset on the balance sheet of your annual accounts report. Maybe you wonder what that means and why it might be important? Equipment on your balance sheet The...

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...

Accountability is a way of life

Accountability is a way of life

In my previous posts I have looked in detail at some finance matters, whether on the level of bookkeeping, finance management or policy development or something in between. But this week, on the threshold to a new decade and living in a spirit of looking back as well...

Food and Drinks and Per Diems

Food and Drinks and Per Diems

In my previous post I wrote about proof of delivery – what is needed to be able to prove and justify expenses properly. I used an example of an event in a hotel which included lunch and coffee breaks. But I did not specifically touch upon food and drink expenses. In...

What is proof of delivery (1)

What is proof of delivery (1)

How do you account for expenses? I don’t mean, how do you book them. I mean, what documentation do you collect and keep, to make sure (and be able to show) that the expenses are real? In other words, what is your proof of delivery? In one of my previous blogs I...