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.
Indirect Cost Allocations & Grant Compliance
Answers
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.
Ok thank you