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Financial Policies

Scope of the Financial Management Policy

The Organization’s Financial Management Policy describes the accounting policies, systems and procedures to be used by the organization. The Policy willcover the input, processing, output, ...


Accounting Policies & Procedures

Basis of Accountinga) The organization shall prepare its accounts on the basis of historical basis of accounting but assets shall be re-valued from their historic ...


Cash Handling

Cash Account and TransactionsCash transactions are to be resorted only for petty expenses and when /where banking facilities are not available. As per Income Tax ...


Salaries and Advances

Salaries  The following is the procedure on salaries:- a) All permanent employees shall be issued with appointment letters signed by the organization head and employee-signifying acceptance of ...


Operating Bank Accounts

Bank AccountBank account for the project funds shall be opened only in a nationally recognized bank or any other bank authorized by the central bank ...


Manage Bank Transactions

Bank Receiptsa) All receipts will be acknowledged by issuing an official receipt. The date of receipt, its accounting and the date of deposit of the ...


Validation of bills, invoices, receipts & vouchers

Invoice Validation Essentials of a Voucher  a) Project name – in order to identify that the voucher belongs to a particular project, the project name needs to ...


Cash Book

Maintaining Cash BookA cashbook is a primary book of entry that is prepared after a voucher for a particular transaction. The cash book records all ...


Procurement, Stock and Inventory Management

Purchasing The purchasing function involves:a) Identification of needs, for goods and services,b) Identification of costs to cover the needs for those goods and services,c) Identifying the ...


Financial Planning & Budgeting

Organization receives specific grants to implement activities but it may not be necessary that the entire allocated grant will be spent for a certain activity. ...


Internal Control Measures and Management Information Report

Further to developing different reports as part of the financial management, below are details on internal control measures and management information report: Internal Control MeasuresIn addition ...


Maintain Fixed Assets Register

Fixed Assets RegisterIt is the responsibility of the Finance/Accounts manager to maintain a complete and accurate fixed asset register. The fixed assets register will be ...


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