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How can I make a financial statement for grant organization?

Sela Roth Song's Profile

I am working under the project which is funded from ADB. We recieve fund as a grant to expense for implimented project partners and run office operations. We have no rental fee or any revenuse. What should I prepare financial statement (balance sheet, Journal, P&L statement) without system? How to prepare it (Excel)?

Answers

EMERSON GALFO
Title: CFO
Company: C-Suite Services
LinkedIn Profile
(CFO, C-Suite Services) |

Accountants have been preparing (books) financial statements for decades without computers or Excel. If you have to do it on columnar pads and T accounts.....do it.

EMERSON GALFO
Title: CFO
Company: C-Suite Services
LinkedIn Profile
(CFO, C-Suite Services) |

When I went back and read my initial response, I cringed as I thought the tone was a tad "harsh". So I apologize as it was not meant to be. My second recommendation is to find a "cheap/er" system like Quickbooks and establish your financial system. which if I am not mistaken would be a requirement from ADB.

Sela Roth Song
Title: Acounting Officer
Company: Cambodian Mine Action &Victim Assistance..
(Acounting Officer, Cambodian Mine Action &Victim Assistance Authority) |

Thank for guiding me! Actually, I conduct finacial report which is summarized all main expenses (workshop, mission, meeting...etc.) of each implemented departments without detail its transactions. Is it still possible to do so? All the expenditure are shown on the table of their activities/budget plan as a financil report. Within my department, I conduct cash book every month to reccord all expense. Can you please guide me on conducting a proper and accurate financial record for these transactions?

Thanks!

Kevin Kelso
Title: Controller
Company: The Arc of Delaware
(Controller, The Arc of Delaware) |

It's not clear whether you have a financial system in place or not and if you do not have a worksheet software like excel than you could always try Google's free worksheet application as a consumer user. It's called Google sheets.

At the very least, you are going to have categorize each type of expense by amount and time period(s). And yes you are going to have to provide some level of detail that supports the summarized amounts if you are asked by the Grantor.

Keep it simple until you can get yourself better organized.

You should have invoices or bills for office expenses and a payroll report for any type of salaries or compensation. Gather these documents before you start to prepare any worksheets.

Good luck.

Sela Roth Song
Title: Acounting Officer
Company: Cambodian Mine Action &Victim Assistance..
(Acounting Officer, Cambodian Mine Action &Victim Assistance Authority) |

Thank for your helpful answer! By the way, I have recorded all transaction in Excel, and those expenses are attached with supporting document such as official forms, invoices, reciept and even procurement docs.

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