o Ensure internal controls are implemented within QBO, such as user permissions and approval workflows.
Video Tutorial: 5 Must Have in QuickBooks for a non profit
5. Board of Directors
Primary Responsibilities:
• Financial Oversight: Periodically review financial statements to ensure fiscal responsibility. • Policy Approval: Approve major financial policies and organizational changes.
Steps to Implement in QBO:
1. Access Financial Reports: o Ensure board members have view-only access to QBO or are provided with regular financial report exports. 2. Review and Approve Policies: o Participate in meetings where financial policies are discussed and provide approvals as needed. Video Tutorial: QuickBooks Online How to customize reports for your non profit
By clearly defining these roles and providing step-by-step instructions within QBO, FOAM can ensure a smooth transition to a GAP-aligned accounting system, promoting accuracy, transparency, and compliance in its financial operations.
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