In any type of business, accurate reporting is essential for both internal and external purposes. And nonprofit accounting is certainly no exception. The typical nonprofit fiscal office needs to produce and distribute information to a variety of people for a variety of purposes.
There has to be detailed financial reports for all programs within the organization for the fiscal department to be able to perform the required “detective work” to help insure the integrity of the system in place. There also has to be program specific reporting capabilities to provide to program managers/directors. Program staff do not need to be finance people nor even understand the intricate nature of a chart of accounts. But you need to provide them with the detail necessary to help finance staff identify possible problems such as miss-coding.
There has to be detailed financial reports for all programs within the organization for the fiscal department to be able to perform the required “detective work” to help insure the integrity of the system in place. There also has to be program specific reporting capabilities to provide to program managers/directors. Program staff do not need to be finance people nor even understand the intricate nature of a chart of accounts. But you need to provide them with the detail necessary to help finance staff identify possible problems such as miss-coding.
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