How to chose a Bank: You may have a number of Banks operating in your area. At times we may find it difficult to chose a particular bank. Some of the points that one needs to look at before opening a Bank Account are as follows: When you want to open an account with...
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Advances • Advances needs to be entered in the Cash Book even if the advance given is for a short-while. E.g. an advance is given to buy stationery and the concerned person will get back with stationery and receipt say. Within an hour, even if it needs preparation of voucher and settleme...
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Bank Accounts NGOs need to open a General Account and an F.C. Account (if the organization is registered under FCR (Foreign Contributions Regulation) Act. F.C. Account: Under FCR (Foreign Contributions Regulations)Act every association...
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Budgeting: Budget is a financial plan. All of us know what is budget as we do make our financial plans in our personal life also. Planning is an important part of budget and unless it is done in a systematic and planned, the project may end up with shortage of funds o...
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Bank Reconciliation: We need to update organisation’s Bank Passbooks’ from time to time. At times we may think that since there are no transactions taken place, what is the need to update. But these updations are needed for the foll...
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