I am working under the project which is funded from ADB. We recieve fund as a grant to expense for implimented project partners and run office
How can I make a financial statement for grant organization?
Answers
Accountants have been preparing (books) financial statements for decades without computers or Excel. If you have to do it on columnar pads and T accounts.....do it.
When I went back and read my initial response, I cringed as I thought the tone was a tad "harsh". So I apologize as it was not meant to be. My second recommendation is to find a "cheap/er" system like
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Thank for guiding me! Actually, I conduct finacial report which is summarized all main expenses (workshop, mission, meeting...etc.) of each implemented departments without detail its transactions. Is it still possible to do so? All the expenditure are shown on the table of their activities/budget plan as a financil report. Within my department, I conduct cash book every month to reccord all expense. Can you please guide me on conducting a proper and accurate financial record for these transactions?
Thanks!
It's not clear whether you have a financial system in place or not and if you do not have a worksheet software like excel than you could always try Google's free worksheet application as a consumer user. It's called Google sheets.
At the very least, you are going to have categorize each type of expense by amount and time period(s). And yes you are going to have to provide some level of detail that supports the summarized amounts if you are asked by the Grantor.
Keep it simple until you can get yourself better organized.
You should have invoices or bills for office expenses and a payroll report for any type of salaries or compensation. Gather these documents before you start to prepare any worksheets.
Good luck.
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Thank for your helpful answer! By the way, I have recorded all transaction in Excel, and those expenses are attached with supporting document such as official forms, invoices, reciept and even procurement docs.
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Accounting