1 ⃣ Review & Approve Budgets
Navigate to Gear Icon > Budgeting .
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• Review proposed budgets and approve or request modifications.
2 ⃣ Oversee Financial Policies & Internal Controls
• Ensure proper user roles and approval workflows are implemented.
📺 Video Tutorial: 🎥 How to Create a Budget in QuickBooks Online (~5 min)
5. Board of Directors
Primary Responsibilities:
✔ Conducts periodic reviews of financial statements. ✔ Approves major financial policies and strategic decisions.
Steps to Implement in QBO:
1 ⃣ Access Financial Reports for Review
• Ensure board members receive financial reports or have view-only access in QBO.
2 ⃣ Approve Financial Policies & Budgets
• Participate in quarterly financial meetings to review policies and budgets.
📺 Video Tutorial: 🎥 QuickBooks Online for Nonprofits (~60 min)
Conclusion & Next Steps
By defining these roles and responsibilities and implementing structured financial workflows in QBO, FOAM ensures compliance, accuracy, and financial sustainability. These steps will support better grant management, stronger financial oversight, and increased transparency.
Would you like a printable checklist for staff training? 🚀
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