There are many accounting platforms aimed at helping nonprofits achieve compliance, and QuickBooks is one of the most popular. In this presentation, Jean Elwell and Bob Wang of Legacy Advantage discuss using QuickBooks to ensure that your nonprofit is audit-proof. Join us!
Finding Meaning in the Numbers: Making Data-Informed Decisions Across Your Or...TechSoup Canada
Does your nonprofit track vital data -- but lack the time and resources to make sense of it? Don't worry! TechSoup Canada is here to help make your data work for you.
Join us to learn how to create a reasonable and manageable data strategy, and how to foster a culture of data-informed decision making across your entire organization.
In this webinar, you will learn how to:
-harness the potential of business intelligence and Big Data
-create and implement an integrated data strategy
-overcome institutional resistance and foster a culture of data-informed decision making
-use dashboards to gain insight into a variety of data sources
Fundraising Intelligence: Measuring Fundraising Return on Investment and the ...fmahunik
Presented by Sally Boucher and Faön Mahunik on 04/29/2011. This presentation defines fundraising return on investment and cover the components that make up the overall income and expense lines in the budget. It also discussed the differences between efficiency and effectiveness as well as the differences in measuring ROI and CRD. Topics that are also covered include: Keys to good metrics and important metrics to measure, Prospect research’s impact on fundraising ROI, and Management metrics and tracking. You can access the webinar recording here: https://wealthengineevents.webex.com/wealthengineevents/lsr.php?AT=pb&SP=EC&rID=3660437&rKey=987a1f518451b890
A Conversation on Making Data Driven Decisions Using Financial SCANGuideStar
Join Bunkie Righter from GuideStar as we learn how foundations and charities discover the indicators of financial health that matter most. Special guests Chris Percopo of The Leona M. and Harry B. Helmsley Charitable Trust, and Dennis Dolbee of Boys & Girls Clubs of America, will offer insight into how they use Financial SCAN to make better decisions within their organizations. Moderated by Ashley Early.
Finding Meaning in the Numbers: Making Data-Informed Decisions Across Your Or...TechSoup Canada
Does your nonprofit track vital data -- but lack the time and resources to make sense of it? Don't worry! TechSoup Canada is here to help make your data work for you.
Join us to learn how to create a reasonable and manageable data strategy, and how to foster a culture of data-informed decision making across your entire organization.
In this webinar, you will learn how to:
-harness the potential of business intelligence and Big Data
-create and implement an integrated data strategy
-overcome institutional resistance and foster a culture of data-informed decision making
-use dashboards to gain insight into a variety of data sources
Fundraising Intelligence: Measuring Fundraising Return on Investment and the ...fmahunik
Presented by Sally Boucher and Faön Mahunik on 04/29/2011. This presentation defines fundraising return on investment and cover the components that make up the overall income and expense lines in the budget. It also discussed the differences between efficiency and effectiveness as well as the differences in measuring ROI and CRD. Topics that are also covered include: Keys to good metrics and important metrics to measure, Prospect research’s impact on fundraising ROI, and Management metrics and tracking. You can access the webinar recording here: https://wealthengineevents.webex.com/wealthengineevents/lsr.php?AT=pb&SP=EC&rID=3660437&rKey=987a1f518451b890
A Conversation on Making Data Driven Decisions Using Financial SCANGuideStar
Join Bunkie Righter from GuideStar as we learn how foundations and charities discover the indicators of financial health that matter most. Special guests Chris Percopo of The Leona M. and Harry B. Helmsley Charitable Trust, and Dennis Dolbee of Boys & Girls Clubs of America, will offer insight into how they use Financial SCAN to make better decisions within their organizations. Moderated by Ashley Early.
As a content creator, it's important to stay on top of your finances and have a good understanding of accounting practices. Here are some tips to help you manage your finances effectively:
Spring Cleaning: Getting Your Financial House in Order (Early Growth Financia...Lighter Capital
Lighter Capital and Early Growth Financial Services (EGFS) hosted a joint webinar on Thursday May 3, 2018.
Covered in this webinar: (1) Key financial statements and key metrics/data, (2) What do investors care about and tailoring your information for investor conversations, and (3) Common pitfalls and unintended hurdles when the financial house is in disarray. This webinar is catered towards CEOs, C-level employees, and co-founders of early-stage startups across all industries.
Speakers included Allen Johnson: CIO, Lighter Capital (https://www.lightercapital.com/) and Sirk Roh: Consulting CFO, Early Growth Financial Services (https://earlygrowthfinancialservices.com/).
Your ticket to financial freedom doesn’t lie in getting a raise or enlisting services of a personal financial consultant. Your ticket to financial freedom lies in mastering basic money management.
The Management Trust "Financials 101" ebookveservice10
If you missed our "Financials 101" webinar we have a comprehensive document here for you to keep!
The "Financials 101" ebook covers topics discussed in the webinar including:
* Methods of Accounting
* State Rules and Regulations
* The Five (plus one) Basic Financial Statement “Monthly Reports”
* Community Association Fund Activity Summary Reports
This ebook is free to all interested! Get your very own "Financials 101" ebook by completing the form to the right
In this Webinar, participants will learn about:
– Balancing rising costs and a limited budget
– Eating healthily, food banks, other resources in your community
– Budget formats that work for cancer patients
– Money management
– Debit and credit management
– Credit counselling
– Consumer protection
This informative and entertaining seminar will show you how to take control of your finances by learning to budget your paycheck - before you spend it.
In response to COVID-19, Together Project's staff and volunteers had to quickly adapt and pivot their programs in order to continue providing social support to newcomers in Canada. While their new model is only a few months in the making, Together Project has learned a great deal about how to set up an online volunteering program.
In this presentation, Anna Hill and Andrew Lusztyk (from Together Project) share with us their insights, including:
- How to get started setting up an online volunteering program;
- Tips and tools to develop a greater capacity to onboard and train volunteers remotely;
- Benefits and challenges of online volunteering;
- How online volunteering can help vulnerable demographics––from equipping volunteers to tackle new challenges
View the webinar recording here: https://youtu.be/NEm0Vu-IhpA
NOTE: This presentation was for new users of Power BI and/or those interested in brushing up on the basic functions and features of the program. View webinar recording on YouTube: https://youtu.be/ybfzGdHlumc
Microsoft's Power BI allows you to monitor key metrics, spot real-time trends and create personalized dashboards without being a data expert. Our expert, Alyssa Ford from Tech Impact, walks us through why Power BI is a powerful, low-cost tool that allows you to take your data from virtually any source (Excel files, Salesforce, SurveyMonkey, SQL server, SharePoint, etc.) and how to turn it into meaningful visualizations.
In this presentation, Alyssa covers:
– the basics of Power BI,
– what it can do,
– how licensing works,
– and some use-case examples.
More Related Content
Similar to Using QuickBooks to Audit-proof Your Nonprofit
As a content creator, it's important to stay on top of your finances and have a good understanding of accounting practices. Here are some tips to help you manage your finances effectively:
Spring Cleaning: Getting Your Financial House in Order (Early Growth Financia...Lighter Capital
Lighter Capital and Early Growth Financial Services (EGFS) hosted a joint webinar on Thursday May 3, 2018.
Covered in this webinar: (1) Key financial statements and key metrics/data, (2) What do investors care about and tailoring your information for investor conversations, and (3) Common pitfalls and unintended hurdles when the financial house is in disarray. This webinar is catered towards CEOs, C-level employees, and co-founders of early-stage startups across all industries.
Speakers included Allen Johnson: CIO, Lighter Capital (https://www.lightercapital.com/) and Sirk Roh: Consulting CFO, Early Growth Financial Services (https://earlygrowthfinancialservices.com/).
Your ticket to financial freedom doesn’t lie in getting a raise or enlisting services of a personal financial consultant. Your ticket to financial freedom lies in mastering basic money management.
The Management Trust "Financials 101" ebookveservice10
If you missed our "Financials 101" webinar we have a comprehensive document here for you to keep!
The "Financials 101" ebook covers topics discussed in the webinar including:
* Methods of Accounting
* State Rules and Regulations
* The Five (plus one) Basic Financial Statement “Monthly Reports”
* Community Association Fund Activity Summary Reports
This ebook is free to all interested! Get your very own "Financials 101" ebook by completing the form to the right
In this Webinar, participants will learn about:
– Balancing rising costs and a limited budget
– Eating healthily, food banks, other resources in your community
– Budget formats that work for cancer patients
– Money management
– Debit and credit management
– Credit counselling
– Consumer protection
This informative and entertaining seminar will show you how to take control of your finances by learning to budget your paycheck - before you spend it.
In response to COVID-19, Together Project's staff and volunteers had to quickly adapt and pivot their programs in order to continue providing social support to newcomers in Canada. While their new model is only a few months in the making, Together Project has learned a great deal about how to set up an online volunteering program.
In this presentation, Anna Hill and Andrew Lusztyk (from Together Project) share with us their insights, including:
- How to get started setting up an online volunteering program;
- Tips and tools to develop a greater capacity to onboard and train volunteers remotely;
- Benefits and challenges of online volunteering;
- How online volunteering can help vulnerable demographics––from equipping volunteers to tackle new challenges
View the webinar recording here: https://youtu.be/NEm0Vu-IhpA
NOTE: This presentation was for new users of Power BI and/or those interested in brushing up on the basic functions and features of the program. View webinar recording on YouTube: https://youtu.be/ybfzGdHlumc
Microsoft's Power BI allows you to monitor key metrics, spot real-time trends and create personalized dashboards without being a data expert. Our expert, Alyssa Ford from Tech Impact, walks us through why Power BI is a powerful, low-cost tool that allows you to take your data from virtually any source (Excel files, Salesforce, SurveyMonkey, SQL server, SharePoint, etc.) and how to turn it into meaningful visualizations.
In this presentation, Alyssa covers:
– the basics of Power BI,
– what it can do,
– how licensing works,
– and some use-case examples.
Google Ads 101: Increase Your Nonprofit’s Presence With $10,000 a month Of AdsTechSoup Canada
This slidedeck is from a webinar hosted by TechSoup Canada featuring Simon and Lily of ConnectAd. They will help you understand how to register, access & use your Google Ads account to grow your nonprofit’s online presence. They'll show you how Google Ads can help your nonprofit connect to and engage with donors, volunteers, and supporters.
You will learn:
- How the Google Ads Grant can be useful to nonprofits
- How to apply for your Google Ads Grant account
- Step by step how to create your first campaign inside your Google Ads Grant account
The webinar is for beginners looking to learn how to access & use the main features of Google Ads. To see the webinar recording and other resources please visit http://bit.ly/GoogleAdsWebinar
Note that you must be a registered nonprofit in Canada to be eligible for Google Ad Grants. To apply for Google Suite for Nonprofits please visit http://bit.ly/2UGtfbw
Growth Strategies To Scale Up Your Small NonprofitTechSoup Canada
There are lots of small business growth strategies that you can apply to the nonprofit sector: from new products and services, to territory expansion and the elusive social enterprise development. Carla Langhorst of SmallBusinessSolver.com will explain how you can apply growth principles in financial and marketing planning to your nonprofit. Carla will show the you the business strategies and tools you can use so that your nonprofit can assess risk and scale up sustainably.
In this webinar, you will learn:
- About the emerging revenue generation trends that nonprofits are doing,
- How to strategically grow from your core operations while mitigating risk,
- The types of online resources you can access and use to continue evolving your strategic plans.
Ten Years of TechSoup Canada: Insights, ideas, and tips from a decade of #nptechTechSoup Canada
In 2019, TechSoup Canada turns 10! The past decade has taught us a lot about using technology as a tool for social impact, and we are eager to share that knowledge with you.
In our team's special 10 Year Anniversary webinar we explore the lessons of the past decade, trends shaping nonprofit technology today, and tips and tricks for making the most of your TechSoup Canada membership.
What you will learn:
-Key lessons from a decade of helping Canadian nonprofits use tech more effectively
-Tech trends to embrace and which ones to approach more cautiously
-Tips and tricks for maximizing your TechSoup Canada membership
How to be CASL & GDPR Compliant for the New Year 2019TechSoup Canada
In this webinar, Antoine Bonicalzi, Marketing Director* for Cyberimpact, will talk about how you can comply with CASL &GDPR by taking a few simple steps. All in simple plain English, no legal jargon guaranteed! Antoine will cover exactly what CASL & GDPR are, and how they apply to your nonprofit so that you’ll be ready to make 2019 your best data privacy & consent driven year yet.
In this webinar you will learn:
- How to handle your contacts’ personal data
- How to obtain & handle meaningful consent
- The types of software to help you stay compliant
- The channels of communication (e-mail & other digital communication) you can use to promote your work while remaining compliant
* Please note that Antoine is not a lawyer, the content of this webinar does not constitute legal advice. For legal advice, please consult legal experts.
Phil Downe - Avoiding Shady IT Vendors (final version)TechSoup Canada
In this webinar, IT contract specialist Phil Downe of Relations Management Group explains how to do cloud-based software negotiations with confidence.
The webinar answers the following questions:
How can you avoid vendor captivity and software traps?
How can you prepare for a negotiation, including leveraging and timing the deal?
How can you draft a contract and prevent contract ambiguity?
In this webinar, IT contract specialist Phil Downe of Relations Management Group explains how to do cloud-based software negotiations with confidence.
The webinar answers the following questions:
How can you avoid vendor captivity and software traps?
How can you prepare for a negotiation, including leveraging and timing the deal?
How can you draft a contract and prevent contract ambiguity?
Digital Storytelling: Understanding Social Media and Visual Storytelling Tool...TechSoup Canada
This presentation will explore how digital storytelling, through visuals, videos, and live stories can amplify and better communicate your nonprofit story. This presentation will also show how some nonprofits are using social media platforms for digital storytelling, with examples of successful campaigns on Facebook, Twitter, Instagram, and Snapchat.
In this presentation you will learn:
- How to tailor content and visuals to your organization’s social media platforms;
- Tools you can use to create images, infographics, and fonts to build your visual storytelling elements;
- Tangible ways to employ ethical practices into sharing digital stories.
nonprofits to find effective and creative ways of sharing their stories.
With so much communication happening between family, friends, businesses, and organizations – we can’t rely on the same old year-end fundraising practices to grow our year-end revenue.
In this webinar, Brady Josephson will walk you everything we’ve learned about year-end fundraising, and share key fundraising techniques that will help you cut through the clutter and grow your year-end revenue.
In this webinar you’ll learn:
- Some of the best days and times to send their emails to stand out in the overcrowded inboxes.
- How to send highly relevant emails that will get opened and help raise more money in December
- How to create high converting, year-end donation pages to make the most of this high traffic season.
Creating a Content Strategy for your Nonprofit WebsiteTechSoup Canada
Planning a new website for your nonprofit organization? A website content strategy will serve as a guide for many of the decisions you’ll make. You'll know what content you need to develop, what you can reuse or re-purpose, and what content is most important. Because it creates clarity about your site's purpose, audience and the outcomes you’re seeking, a content strategy will also guide specific decisions about website design and development.
What you'll learn:
- During this webinar, we’ll explore the benefits (which go far beyond content planning) of creating a clearly defined and documented website content strategy.
We will look at:
- Why you need to develop your content strategy before you start any website design or development work.
- The elements to include in a website content strategy – along with the steps involved in building one.
- Specific and productive ways to include internal stakeholders in the planning process.
Avoiding "Shady" IT Vendors: Doing Cloud-based Software Deals with ConfidenceTechSoup Canada
In this webinar, IT contract specialist Phil Downe of Relations Management Group explains how to do cloud-based software negotiations with confidence.
The webinar answers the following questions:
How can you avoid vendor captivity and software traps?
How can you prepare for a negotiation, including leveraging and timing the deal?
How can you draft a contract and prevent contract ambiguity?
Strategies for Donor Retention Using Your CRM SoftwareTechSoup Canada
CRM software can be a great tool to help you report and communicate effectively in your fundraising efforts. Philip Manzano of Keela.co will teach you how to show donor impact and retain donors by creating reliable reports and data. This webinar is for nonprofit professionals with essential fundraising skills who are looking to improve their craft with the use of CRM software.
In this webinar you will learn:
· Meaningful ways to connect with your donors and promote relationship building in your fundraising activities;
· To create reliable reports and ways to share information, case studies or stories with donors;
· To leverage your data with reports for donor retention, including how to create and customize reports.
How Your Nonprofit Can Avoid Data Breaches and Ensure Privacy Part 2TechSoup Canada
Part 1 of this webinar series provided an overview of cybersecurity and explained the cyber risks and legislation affecting nonprofits. In part 2 of the series, Imran Ahmad of Miller Thomson, LLP returns to answer your questions on cybersecurity and to delve deeper into cybersecurity maintenance and best practices to avoid data breaches. This includes the implementation of measures to prevent data breaches in the pre-attack phase, to the implementation of security best practices in the event of a cyber attack or breach.
What you will learn:
· How to develop key cybersecurity-related documents;
· How to maintain an internal matrix of when to notify affected individuals;
· How to review contracts from a cybersecurity compliance perspective.
How your nonprofit can avoid data breaches and ensure privacyTechSoup Canada
Increasingly, nonprofits hold large quantities of digital assets (such as donor information, grant application details, financial records, etc.). Organizations of all sizes and industries are being targeted by cyber criminals. Cyber-attacks will often devastate an organization’s operations and have significant financial, legal and reputational consequences.
In this webinar, Imran Ahmad of Miller Thomson, LLP will explain how implementing best practices from a pre-breach standpoint can go a long way to mitigate the negative consequences of a cyber-attack.
What you will learn:
- what the cyber threat landscape looks like
- how to ensure privacy of your digital assets
- steps to take in the aftermath of a cyber-attack
#nptech 2018: Trends, Insights, and PossibilitiesTechSoup Canada
What does the coming year hold for nonprofit technology? We asked a handful of subject matter experts to share their thoughts on the tech trends and opportunities the nonprofit sector should embrace in the coming year. With Alexander Dirksen of First Nations Technology Council, Marlene Oliveira of moflow, Yaa Otchere of Not An Elephant, Maryam Sahebol-Amri of TechSoup Canada, and Carolyn Tackett and Rogelio Lopez of Access Now.
In this webinar, we get an overview of the comprehensive set of cloud services (Office 365, Azure, and Dynamics) that Microsoft donates to eligible nonprofits through TechSoup Canada. We also hear from local nonprofit Dixie Bloor Neighbourhood Centre about how migrating to Office 365 transformed their operations.
Update on Canada's Anti-Spam Legislation for Nonprofits and CharitiesTechSoup Canada
Back by popular demand, Maanit Zemel from Zemel van Kampen LLP (http://www.canadatechlaw.com), will walk nonprofits through Canada's Anti-Spam Legislation (CASL) for nonprofits and charities, and what's involved in the next deadline for CASL that will come into effect on July 1st, 2017.
What you will learn in this webinar:
- How CASL applies to nonprofits and charities
- What's changing in the next deadline, July 1st, 2017*: transition period for implied consent ends
- How to be compliant with the legislation
*Update as of June 7th 2017: CASL Private Right of Action indefinitely suspended and will not take effect on July 1st, 2017. Read more: https://www.the-cma.org/resource/newsroom/2017/casl-pra-suspension
Be ahead of the tech curve, not behind! 5 nonprofit tech trends for 2017 TechSoup Canada
What trends and best practices should your nonprofit embrace in 2017? On Jan 25th, we took a look at 5 tech and web design trends predicted to play a large role in 2017, such as automating dashboards and data visualization, creating a consistent User Interface (UI) and User Experience (UX), and more!
As part of your fundraising campaigns and online engagement, you likely collect many metrics and data points. But do you take the time to reflect on this data and use it to improve for next time? In this session, we’ll discuss metrics you can collect, share each other’s best practices for data collection processes, and demo dashboard tools that will help you see the big picture.
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
3. Two main types of audit
● CRA audit (to qualify for Charitable status)
● Year end audit (for compliance with CASNPO)
4. Agenda
× Adequate Controls Around Cash Management
× Have a knowledgeable Board
× Have a Manageable/Understandable Chart of
Accounts
× Internal Controls over Expenses
× Documentation and Compliance of Grants
× Do not co-mingle externally restricted funds
× Record Keeping
× Common Errors
6. Adequate Controls Around Cash Management
× Reduce use of Cash
× Segregation of Duties
× Example: 1 bookkeeper that as collecting cash
at fundraising events, counting cash by herself,
depositing cash, and reconciling the bank
account.
× When people are around cash, they become
tempted
7. Adequate Controls Around Cash Management
× Take cheques, credit cards, increase online
donations
× PayPal has a non-profit rate
× Rotessa & Plooto are great for recurring donors
× Low fee pre-authorized Debit
8. Adequate Controls Around Cash Management
× Plooto
× https://www.plooto.com/us/
× Rotessa
× https://www.rotessa.com/
× Donors sign a PAD Authorization, give you a void
cheque, then you can automate donations
× $1/transaction vs % of revenues
× They all Sync in Quickbooks Online
9. Non Profit Child-Care Society
Problem
× Post Dated Cheques
× Pro D days
Solution
× Rotessa to automate
regular payments
× Also used to collect extra
payments
10. Have
a knowledgeable Board
Proper Governance is the
foundation to staying Audit Proof
https://www.canada.ca/en/services/
taxes/charities.html
11. Have a Knowledgeable Board
× Charities are managed by a
volunteer Board who many not
have a strong financial
background.
× Finding a treasurer who can read
and interpret financials can help
the charity stay on track.
× Most people are on Boards are
there because they buy into the
mission, but they are not
business people.
12. Have a Knowledgeable Board
× Charities are very different from
for-profit organizations. Their aim
is to do as much good as possible
using all of the funds.
× Profit motivation is discouraged by
donors.
× Determine budget, analyze budget,
do budget vs actual analysis
× Use QBO to keep you on track
× Board Minutes must be signed..
15. Have a Manageable/Understandable Chart of
Accounts
× Key: Start with the end in
mind. Who are the users of
the financial information?
At what level of detail?
Then create a COA that will
provide you with the right
level of detail.
× More detail doesn’t mean
more accuracy.
16. Have a Manageable/Understandable Chart of
Accounts
× Have levels of
summarization using “sub-
accounts”. Most Board
members want want a
summarized version. ED
wants more detail.
× When users want more
information, see if you can
just easily search it instead
of creating a new GL
account.
20. Internal Controls over Expenses
× Complete documentation.
Auditors will ask for back
up support for various
transactions.
× QBO allows you to attach
receipts or bills to the
transaction.
× Receipt-bank and Expensify
× WayPay can be used to add
multiple layers of
authorization
21. Internal Controls over Expenses
× Payroll Audit Process
× Employee contracts. If they
are contractors, ensure to
have those contracts as
well
× Need payroll registers that
match up to the accounting
records
× If payroll is broken out into
various departments,
ensure to have backup on
how you calculated those
breakouts.
25. Documentation and Compliance of Grants
× Keep all grant compliance
agreements and know
where to find them.
× Read them. Ensure you
understand your
responsibilities and what
you are allowed to use the
money for.
26. Documentation and Compliance of Grants
× Don’t get double funding
for the same program.
× Example: Capital funding
for Emergency Vehicle.
× Attach the grant document
in Quickbooks Online for
easy reference.
27. Do not co-mingle externally
restricted funds
This creates a hornets nest
28. Do not co-mingle externally restricted funds
× Set up different “classes” when
fundrasing for different projects.
× Don’t transfer funds from one
account to another without
documentation of appropriate
approvals.
× Not necessary to open a separate
bank account for each fund, but
be sure to keep proper records
30. Record Keeping
× Keep records of PPE
additions. Attach them to
the transaction itself.
× Keep records of insurance
× Keep for 7 years
× Separate folder for each
grant
× Ensure donation receipts
are compliant with CRA
requirements.
31. Record Keeping
× Tools
× Receipt Bank & Expensify
× Does CRA accept digital
records?
× Use a Donor Management
Software, to manage
donation receipts.
× Reconcile it monthly to GL
(i.e. accounting system)
33. Common Errors
× Don’t net revenues and expenses.
Track them separately
× Don’t record Pledges as Revenues
until Received. This is different than
“Grants”. Grants are legal
documents; pledges are not
× Gifts in Kind > $1K must be
appraised
× Donations for services not allowed.
Perform a cheque exchange
34. Common Errors (cont)
Receipts missing info:
● a statement that it is an official receipt for income tax purposes
● the name and address of the charity as on file with the Canada
Revenue Agency (CRA)
● a unique serial number
● the registration number issued by the CRA
● the location where the receipt was issued (city, town,
municipality)
● the date or year the gift was received
● the date the receipt was issued
● the full name, including middle initial, and address of the donor
● the amount of the gift
● the amount and description of any advantage received by the
donor
● the eligible amount of the gift
● the signature of an individual authorized by the charity to
acknowledge gifts
● the name and website address of the CRA
35. Thanks!
Any questions?
You can find us at
bwang@legacyadvantage.ca
jelwell@legacyadvantage.ca
Facebook: Legacy Advantage