Transitioning Fathers On A Mission (FOAM) to a GAP-aligned accounting model in QuickBooks Online (QBO) requires clear delineation of roles and responsibilities. Below is a structured guide detailing each role, their primary responsibilities, and step-by-step instructions to execute these tasks within QBO. Where applicable, video tutorials are provided for enhanced understanding.
1. Program Manager
Primary Responsibilities:
• Grant Management: Oversee and manage grants to ensure compliance with donor requirements. • Expense Coding: Ensure accurate coding of program expenses to appropriate accounts or classes.
Steps to Implement in QBO:
1. Set Up Classes for Each Program/Grant:
o Navigate to the Gear Icon > Account and Settings > Advanced > Categories . o Enable Track classes and click Save . o Go to the Gear Icon > All Lists > Classes > New . o Create a class for each program or grant (e.g., "Youth Outreach Program" or "Grant A"). 2. Assign Expenses to Classes: o When entering transactions (e.g., expenses or bills), select the appropriate class to ensure accurate tracking.
Video Tutorial: How to setup classes in Quickbooks Online
2. Accountant
Primary Responsibilities:
• Data Entry: Record daily financial transactions, including income and expenses. • Bank Reconciliations: Regularly reconcile bank statements to ensure accuracy. • Report Generation: Produce financial reports for internal and external stakeholders.
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