3. Objectives of NPOs Accounting
To know how much money they have received and
spent in a year.
To ensure that funds are spent / utilized properly
for the objectives of the organisation.
4. Accounting Framework
What we need to know :
Income for the current
financial year;
The value of its assets;
Amount spent out of grants
& donations;
Balance of grant at the end
of the accounting period;
What we need to establish :
What type of accounts must be
prepared;
What information is required by
the stakeholders;
5. Stages of Accounting and its documentation
Vouchers
& Supporting
Documents
Verification Approval
Entry in the
Books of Account
Filed in Voucher
file chronologically
Entry in the Subsidiary Records (if applicable)
Final Accounts
Audit
Audited Statements
of Account
6. Key Issues
• Transactions of Foreign Funds and Local Funds
• Supporting and Documentation of Expenditure
incurred
13. S. No. Compliance Category Date Due Status
1 Taxes
1.1
Monthly Tax Deduction at Source (TDS)
deposited.
1.2
Quarterly TDS returns to be filed with
Income Tax Department
1.3 Annual Returns for FY 2019-2020
14. 2 FCRA
2.1 Annual Returns for the FY ___________
2.2
Quarterly Foreign Contribution details
uploaded on Website
2.3
Form FC 6, if any in case of
change/addition/deletion of bank
account, address or change in more than
50% of Board members
15. 3 Incorporation law
3.1 Annual Filing of Return
3.2
Any other compliance which is applicable
by virtue of incorporation law
16. S.No Donor Name January February March
Due Submitted
on
Due Submitted
on
Due Submitted on
1
2
3
4