Exchange Rates

Exchange Rates

by | Feb 2, 2020 | Finance Management

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 Domestic Travel

Costs for Domestic Travel

by | Jan 19, 2020 | Finance Management

In another post, we looked at the costs of food and drinks while traveling. And we saw 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...
Food and Drinks and Per Diems

Food and Drinks and Per Diems

by | Dec 22, 2019 | Finance Management

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 expenses for food and drinks....
What is proof of delivery (1)

What is proof of delivery (1)

by | Dec 8, 2019 | Finance Management

How do you account for expenses? I don’t mean, how do you book them. What I mean is, 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...
What are prepaid expenses and payables?

What are prepaid expenses and payables?

by | Dec 1, 2019 | Finance Management

Are you also receiving all sorts of invoices for next year these days? I got mail from insurance companies, my newspaper subscription, office rent and whatnot. Companies asking me (or my organisation) to pay upfront for services they will provide to me in the future,...