Financial control

From BANwiki

Exercising effective financial control is important not only to ensure that you do not run out of money part way through a project but also to demonstrate that you are a responsible and professional organisation. There are three requirements in exercising control: you need to prepare a budget which is as accurate as you can make it; you need to record carefully all your income and expenditure; and you need to compare the actual against the budget and take corrective action as and when necessary. A couple of fact sheets will help you with this.

Financial Control explains the importance of financial control and accurate book-keeping.

Accounts in an Envelope provides a very simple system for keeping records of account for small scale projects with limited transactions. Essentially it enable you to use just one page each month, ideally printed on to the front of an envelope. as a record of all teh transactions. Any supporting invoices and receipts can then be put into the envelope ensuring that not only do you have an accurate record but also have all the paperwork in one place.

Financial Ratios provides an explanation of the key financial ratios nad how they can be used to exercise control of organisations and bigger projects.