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Car rental receipt template for non-profit organizations

[Music] good afternoon I'm Joanna from a race and today we'll be covering ways that as a nonprofit organization you could become more sustainable through transparency and accountability we appreciate your time today and hope that today's webinar will show you better ways that you can help your nonprofit organization and tools available from arrays that will help you become more sustainable and transparent so why is transparency so important to nonprofit organizations because that's a nonprofit organization you're different from a for-profit organization because it's not about making a profit it's about fulfilling your mission but in order for to fulfill your mission you need to be accountable to your funding sources because you're going to have donations and revenue that comes into your organization typically with strings attached those strings make an imperative for you to become more transparent and more accountable so the information that you get you need to make sure that you are demonstrating proper accountability providing information as to how money was collected how it was spent in what services were funded by the money that you receive so transparency typically becomes a problem when or it becomes an issue when there's a problem so there could be a misappropriation of funds potentially a scandal and sector or pressure from regulators whether it's the IRS or your funding sources because you're not showing them the information that they need for you to become more accountable so you want to make sure that you have procedures in place policies in place and the tools in place that will make you more transparent to your funding sources so the four keys to transparency and the components of transparency is data collecting information and making it available and accessible for public scrutiny justification you need to provide clear reasoning for the actions and decisions including the actions that you do not adopt so that they may be reasonably questioned so justification for everything that your organization does and does not do you need to make sure that you're compliant in all of your funding regulations and complying in fulfilling your mission and if there are any shortfalls that you take the necessary steps to enforce and remedy those shortfalls the keys to achieving accountability proper stewardship of donor funds ensure that the funds that are donated to your organization are protected and used efficiently you want to implement management management practices to ensure a long-term survival of your organization and this is something that has to be adopted by your entire staff you need to have an open line of communications with your donors and funding sources and constituents and having the right system in place will help you achieve your accountability so revenue transparency and accountability nonprofits need to identify three characteristics for all of the revenue coming into the organization who is providing the revenue your funding source what type of income is it is that a grant is it program services is it a donation is it contract for services and why are they providing you the money what are you going to be using this money for for which particular program or purpose and typically a nonprofit organization has multiple wise they might have multiple programs within those programs multiple funding sources or projects or departments and the same thing is true when it comes to expenses all of your expenses need to be identified and each of the three characteristics for expenses needs to be followed who is providing the funds for the expense the funding source funding your particular expenses what type of expense is it salaries rent travel supplies and why is this in spent expense incurred is it program services or part of your support services such as management general and your fundraising you typically don't get money to help fundraise but your fundraising expenses need to be separated properly allocated for your functional expense report and like revenue there are typically multiple Y's for all of your revenue so having the right system in place will help you become more transparent and accountable you need to have proper segregation of financial activity by donor designation and functional area so that takes care of the why and what of the revenue you need to make sure that you don't have to export data to external spreadsheets for generating your reports you want to be able to properly allocate all of your revenue and expenses to your funds your programs and your specific funding sources departments or sites you want to make sure that if you are receiving grant funds that you are reporting back to your funding sources your grant tors making sure that the money that they're providing from the grant is used for its designated purpose and of course you need to have strict internal controls to maintain your data integrity so a proper system will help you achieve better transparency and accountability so this is a real-world example of an organization that requires transparency and accountability for all of their revenue and expenses this is based on a real fast phone online user the names have been changed to protect the innocent so apple seed ministry they have missionaries all around the world and each missionary has donors who donate on behalf with their mission so the ministry solicits donations on behalf of their missionaries the missionaries themselves solicit donations to help fund their mission so they need to be tracked all the donations that come in on behalf of their missionaries and projects and programs around the world they need to track to make sure that each expense is credited and expense to the appropriate missionary in various countries they need to be able to send receipts to the donors giving detail as to how their donation was applied to the appropriate mission and each of their missionaries around the world wants to be able to pull up data they need to know how much money has been donated on my on my behalf how much money have I spent and do I have extra funds left in my account so take a look at how that's actually used in the fast phone online system we've set up an example of how to use the system and so our example is the Central America mission this particular mission is active this entire calendar year the goal is to raise $150,000 we've contacted 1,500 people so we're able to track the effectiveness of our appeal what percentage of return have we gotten from the number of people that we've contacted along with the average donation now this particular mission appeal is to help fund an orphan care facility in both Guatemala and Nicaragua so there are designated gifts that come in there's children's medical supplies there's money donated specifically for orphan care someone might sponsor a child we receive in-kind donations there's general missionary support we have a sponsor ship in Nicaragua and then we have donors who might help fund the travel for the missionaries who are going to either Guatemala or Nicaragua each of these individual gifts is linked to a specific GL account code in our accounting system so there's a seamless integration between both fundraising and accounting and we have what we refer to as a funnel effect where we're able to track individual gift designations yet those gifts funnel into the same general income account in certain instances in accounting so the donations for orphan care are going to the unrestricted fund the orphan care program Central America mission donations is the account we have money that's going for child sponsorship so once again it's the same fund program and funding source yet the GL account code is different so we can separate sponsorship revenue from general donation revenue so we set up the appeal what the money what we intend to raise the money in the methods and methodologies and approach to raising the funds we've identified the designations for the gifts and the GL account code in the counting where everything will be posted so when it comes time to entering a donation we go to receipts enter a donor name we can put on the reference let's say this was a thousand dollar donation we can track if this particular gift was solicited by someone we can say that Julia help select solicit this gift and maybe it was an honorarium or memorial gift given in memory of John we're going to be sending George our custom template for the Central American donation receipt so here we could enter the appeal and now we can select from any one of our assigned gifts for the appeal so we can say that this is for orphan care and we can even track the name of the child that they are helping to sponsor with the orphan care I can enter a new donation into a new donor reference if there was a credit card to get their credit card so here it brings up the default information from the previous donation but in this example Barbara's a longtime donor and she always wants her gift to be allocated to multiple account codes so we preset a distribution so it's going to automatically take her five hundred dollars and allocate it to all of these areas she prefers to receive in a printed receipt so we're going to save this transaction and we go to receipts to print and we've got the two the gifts that were entered today if we have receipts that are ready to be emailed we can globally email receipts so these are receipts that could be emailed so we can customize the receipt we can select which receipts we're going to print we can get a preview other of the gift this is the seek that's going to go to the donor breaking down their donation and how it was allocated this was for a gift that was for orphan care sponsoring Lucy as a child and this is the total year-to-date donations for the gift this is totally user definable so we can say that we printed these - you can just click OK to print we can download a file to do a mail merge - for labels or envelopes or we're just going to click OK that they put it successfully and they're removed from the print queue we can do the same thing for emailing we can select the gifts to email select a default template and email those gifts we take a look at the donor record we can filter this list we could take a look at the actions that shows that we sent an acknowledgment letter today to George that we printed a donor gift receipt for his thousand dollar donation we could take a look at his summary of giving or his history and both the history and summary are user permission so if you have people that are working in your system that you do not want them to see donor sensitive data you can limit access by user permissions so we have those donations we go into accounting now and those transactions are ready to be deposited in an accounting I could drill down to the transaction and see the effect of that transaction and accounting and the GL account codes that are automatically posted to that account select my gifts to deposit select my bank account if I have multiple bank accounts make my deposit print my deposit report and make my deposit now it just so happens that one of our missionaries in Central America is Frank Frank parson now Frank is set up in the system so he can log on anywhere he's got an internet connection from his Mac from his PC from his iPad even from his phone if he wants and pull up data that he has been assigned to so he's only he only has access to one report in accounting it's called the activity report so what this report does is allow Frank to pull up to see all of his activities for a specific period of time so what I'm going to do and I could do this because I'm a what's called a super user is I'm going to become at Frank so I'm no longer signed on as me I'm called up I'm signed on as Frank so in accounting if I go to reports I could pull up my restricted activity report put in my date range so I want to know my fiscal year-to-date what's in my account and I pull up the account that's assigned to me and I could get a preview of this report to see exactly how I'm doing this year so I can see that I have $32,000 that's been raised on my behalf this fiscal year I spent nine thousand I've got twenty three thousand dollars left in my account now if I wanted to send a thank-you letters or emails to everyone who donated on my behalf while I'm in the system I can switch over to fundraising again as Frank and you can see I don't have much in the way of access here if I go to reports the only thing that I can pull up here are reports that are assigned to me so I've already sent out thanking letters up until December so now I want to pull up the report for the last quarter and those are the donations that came in through the 6th on my behalf so I actually need to sign out now and Sonia is Joe so I have full access so in accounting with proper rights I can pull up a report in accounting for fiscal year to date the missionary income and expense report so this particular report only is including my orphan care program doesn't include my other programs so I could pull up I could just do organization totals only to see how my mission and program is doing and if I need to I could also give any other missionary who needs access to this report can pull up this report so that's a way that a missionary organization or a foreign relief organization is able to track the donations they come in the donor designations and provide information both to the donor and to their missionaries how much money is raised on their behalf and how much money is left in each of their funds so they're able to demonstrate proper accountability and the fulfillment of their mission next example is a community service based organization they provide different services such as an after-school program a daycare program and an education program each of those programs has multiple funding sources local state county federal funding sources or contracts so they need to be able to track each of their program activities and the individual funding sources and of course they also need to generate fast be compliant reports that group all of their program activities together to create their functional expense report summarizing all of their programs and support services for management general and fundraising so in fast went online the way that's handle is with the chart of accounts we're able to define account number segments that define our funds and you can have an unlimited number of funds each fund becomes a company within your company you could have its own each fund will have its own excess of deficiency its own P&L it's all year-end closing entry in its own balance sheet and the system automatically tracks interfund transactions and do to do from other fund entries so as a whole each fund will self balance this allows you to track your program activity then we have our funding sources and then our line items now there are additional layers that you can add but this is an example of what we refer to as a four tier or four segment account structure so when it comes talk to generating our financial statements you're going to stick with the fiscal year and I'm going to pull up the program for penny rode childcare programs a summary of all of their programs so this just shows their childcare programs as all in summary then it breaks it down at the Fund level then it's broken down by after-school day care and education so let's say we needed to break down of the after-school program we could pull up that report and it's pulling up just the after-school program broken down by funding source we have a State Department of Health and Human Services grant and after-school grant a grant from om RDD and a federal grant and then there's a private Foundation grant to fund this program when it comes time to generate a budget to actual for our funding sources we can pull up for the current fiscal year our unrestricted after-school state diploma of Health and Human Services grant so we're able to enter a budget by the lowest common denominator the line item within the grant within the program within the fund and your budget is broken down on a monthly basis when you enter a budget you can enter the full budget and it automatically divides it by 12 or I can go into each monthly bucket now this seems kind of tedious to do this so we give you the ability to export your budget to excel work with the budget in Excel form generate your formulas then import the budget back in when it comes time to printing your budget reports you can do a budget comparison you can do year-to-date you could do current period and your date and if necessary you can report on cross fiscal years for grants that don't fall within your organization's fiscal year so it's actually pulling the budget data for for two fiscal years for one grant period and the actual for the period of the grant so that's the way our community service based organizations are able to easily track each of their funding sources at the for each of their programs and then consolidate everything that's necessary to generate their fazz be compliant reports so fast one online is a true software-as-a-service multi-tenant solution that does it all for nonprofits it is the only single source solution that seamlessly integrates in a single database nonprofit fund accounting fundraising and payroll in a single solution our company arrays was actually founded by a group of CPAs over 30 years ago so we've been at this for a real long time so we have a real in-depth understanding of the day-to-day challenges that you face as fiscal directors as development directors as executive directors for your nonprofit so 100 percent of our focus is providing software solutions to the nonprofit industry and our support staff is also comprised of CPAs some of us are no longer actives we have to kind of put that in as a caveat but we were practicing CPAs at one time and accountants who have worked in the nonprofit industry our users run the gamut from every imaginable type of 501 C 3 4 5 nonprofits also government agencies we have quite a few small municipalities because the government regulations are very similar to nonprofits when it comes to tracking their funds so you can go back to arrays online at the end of this webinar and sign up for a free no-obligation 30 day free trial there's actually two things that we provide in our free trial you could opt in for a free trial where we'll help you get up and running with your company data and provide you with one hour of one-on-one training to help you get up and running with that 30 day free trial or you could sign up for a demo version which has no limitation on you evaluating the demo version because it already has data you log into an existing company and work with the existing company and you can get a good feel for how it works entering transactions generating reports without having to invest time and trying to set up your company sign up for a trial version today