The non-profit organization’s accounting system shall emphasize on reliability, relevance (suitability for decision-making), and convenience (ease of use). Theorganization shall utilize Sage 300 ERP, which is a mid-market enterprise accounting and management application. This is a suitable application for the organization since it suits both the accounting and management aspects of organizational administration (with modules and features in both), thus presenting cost-saving and efficiency advantages for the organization. The software is also convenient as it can run on the Windows computing system, making it easy to integrate into the agency’s technology platform (BMS Article, para. 1-7).Performance-based merit, equality, and fairness shall constitute the primary foundations of policies for salaries, fringe benefits, and travel expenses. All employees’ salaries shall be due for an upward review regularly based on individual performance as a measure of merit,while fringe benefits (such as health insurance and childcare) shall be available for all employees equally as a way of motivating their productivity and promoting job satisfaction (Itika49). Reimbursements for employees’ travel expenses shall apply only for the essential (non-luxury) expenditures that employees incur in travels related strictly to the organization’s business.
Bank reconciliations shall be the responsibility of three members of the accounting department within three days of reception of the bank statement at the end of each month. The staff shall also file the reconciliation summaries and supporting records for each month for subsequent reference. The selection of three members is vital to ensure that the key accounting process is not the responsibility of one employee only. The non-profit organization shall segregate three essential accounting functions – custody over assets, authorization of assets’ use, and assets’ recordkeeping – such that different employees conduct them to prevent collusion/fraud and promote oversight and review for diagnosis of errors (MaRS Discovery District Article, para. 7-8).
“Internal Controls in Accounting: Key Benefits”. MaRS Discovery District Article, Toronto, Canada, 2014. Web.
Business Management Solutions (BMS). “Sage 300 (Fomerly Sage Accpac)”. BMS Article, 2016. Web.
Itika, Josephat. “Fundamentals of Human Resource Management”. African Public Administration and Management Series 2. 2011. Print.
Are you looking for homework writing help? Click on Order Now button below to Submit your assignment details.
Are you looking for homework writing help on (Sample Essay on Accounting System for a Non-Profit Organization)? Well, you can either use the sample paper provided to write your paper or you could contact us today for an original paper. If you are looking for an assignment to submit, then click on ORDER NOW button or contact us today. Our Professional Writers will be glad to write your paper from scratch.
We ensure that assignment instructions are followed, the paper is written from scratch. If you are not satisfied by our service, you can either request for refund or unlimited revisions for your order at absolutely no extra pay. Once the writer has completed your paper, the editors check your paper for any grammar/formatting/plagiarism mistakes, then the final paper is sent to your email.
We do not share your personal information with any company or person. We have also ensured that the ordering process is secure; you can check the security feature in the browser. For confidentiality purposes, all papers are sent to your personal email. If you have any questions, contact us any time via email, live chat or our phone number.
Would you like this sample paper to be sent to your email or would you like to receive weekly articles on how to write your assignments? You can simply send us your request on how to write your paper and we will email you a free guide within 24-36 hours. Kindly subscribe below!
Email Address: support@globalcompose.com