Accounting Problem Statement: Difference between revisions
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The simplest and most transparent accounting mechanism is proposed: | The simplest and most transparent accounting mechanism is proposed so that it does not require more than 1/2 hour of work per month: | ||
*All money raised is categorized | *All money raised is categorized | ||
| Line 7: | Line 7: | ||
*Quarterly totals for money raised and money spent is tallied from 3 monthly statements in a straightforward manner. | *Quarterly totals for money raised and money spent is tallied from 3 monthly statements in a straightforward manner. | ||
*Money in = money out. | *Money in = money out. | ||
*All this is handed over to an accountant to fill out form 990. | |||
**What is the expected time commitment to file form 990, April 990 | |||
=Question= | |||
*How do we handle True Fans donations with respect to the Fiscally-Sponsored OSE Project? What are the requirements for accounting. | |||
Is this a workable plan? | |||
[[Category:Problem Statements]] | [[Category:Problem Statements]] | ||
Latest revision as of 21:44, 6 April 2011
The simplest and most transparent accounting mechanism is proposed so that it does not require more than 1/2 hour of work per month:
- All money raised is categorized
- All purchases are made via credit card or check and are annotated on an online account on an ongoing basis.
- All receipts are saved.
- The accounting is a monthly statement printout, which is also published on the wiki on a protected page for transparency.
- Quarterly totals for money raised and money spent is tallied from 3 monthly statements in a straightforward manner.
- Money in = money out.
- All this is handed over to an accountant to fill out form 990.
- What is the expected time commitment to file form 990, April 990
Question
- How do we handle True Fans donations with respect to the Fiscally-Sponsored OSE Project? What are the requirements for accounting.
Is this a workable plan?