Presented on Friday, September 30, 2022 at 09:00A

Organizations are a business, and should be run as such. And a part of running a business is to keep track of the money, to ensure that the money on hand is enough to help with the organization’s sustainability. One key tool needed to ascertain the business sustainability is the financial report.
Elements that should be part of the financial report include: 1. A complete analysis of each bank accounts monthly; 2. A separate transparency report, detailing monies collected for the reporting month (who, what, where); 3. An excel spreadsheet detailing monies in all accounts (previous and current month).
Preparing a complete and accurate financial report will make it easier for your organization’s tax preparer to complete the business tax return without any serious issues.