Although you can’t expect your program staff to be fiscal people or completely understand the chart of accounts structure to the extent a member of the finance department does, your Program Managers/Directors can play an important role in reviewing financial reports to help identify problems such as coding errors. In many cases they are more familiar with the day to day activity of their programs than a fiscal person may be. They can play an important part in helping to assure that the financial reports are accurate.
This report can be generated on either the monthly or year-to date basis. The monthly version shows all current month activity at the transaction detail level. It includes individual employee timesheet charges, direct charges for all selected GL codes and all allocated costs. This report can be prepared for all or specific elements and/or projects. You can also print the detail for the fringe benefit, indirect cost and all other pool elements.
No matter if you are currently using the GMS nonprofit accounting software or another solution, providing your Program Managers/ Directors with all the information necessary to help identify problems and/or ask the appropriate questions is key to your organization’s financial health.