Lost and Crowned, Inc. is an emerging 501(c)(3) public charity that needs a focused review of its bookkeeping and accounting system as programs and funding activity expand. We seek one nonprofit accounting professional to review our current QuickBooks or accounting setup, chart of accounts, nonprofit accounting structure, and functional expense tracking. We also need practical internal controls and financial policies appropriate for a small nonprofit with Board oversight. This project is limited to accounting systems, controls, policies, and recordkeeping procedures. Financial statement preparation, audit readiness, tax compliance, and grant reporting are covered in separate Taproot projects.
By the end of this 2 to 12 week project, one volunteer will deliver: 1) a review of our current QuickBooks or accounting system setup; 2) a recommended nonprofit chart of accounts; 3) a recommended structure for properly recording revenue, expenses, assets, liabilities, and net assets; 4) a functional expense tracking process for program, management and general, and fundraising costs; 5) recommended internal controls for approvals, reimbursements, bank activity, segregation of duties, documentation, and Board reporting; 6) draft financial policies and procedures appropriate for a small nonprofit; and 7) a practical monthly recordkeeping and reconciliation checklist. Success means Lost and Crowned can maintain accurate, consistently organized nonprofit accounting records.
