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Indirect Cost Allocations & Grant Compliance

I've joined the nonprofit in Q3, and noticed the previous accountant hadn't allocated any G&A to programs since beginning of the FY. She only allocated payroll and benefits based on timesheets.

Do I go back to the beginning of the year and allocate total G&A costs based on monthly timesheets? or Do a manual JE for the % and allocate as "indirect cost" bucket vs breaking it down to specific expenses?

-- For Grant reporting, she calculated the max % - eg. if we were allowed 15%, she dropped in 15%. No based on P&L.

Looking for advice on how to adjust. Thank you.

Answers

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

Your company has many serious accounting deficiencies. This is not the forum to get these fixed.

You should hire a competent Accountant or Accounting firm to assist you.

Anonymous
(Founder) |

Ok thank you

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