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Accounting Systems Review

Help Muslims Civic Coalition with feedback and recommendations on their accounting practices to improve their financial recordkeeping, reporting, and planning.
Muslims Civic Coalition
Oak Brook, IL, USA
Muslims Civic Coalition
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Muslims Civic Coalition
Oak Brook, IL, USA

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Cause
Diversity & inclusion
Skills
Accounting

Posted May 28th

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Accounting Systems Review

Project details

What we need
  • Analysis of accounting needs and assessment of Organization’s current accounting practices
  • Recommendations for process improvements for enhanced reporting
  • Recommendations on appropriate bookkeeping system such as a spreadsheet or Quickbooks and related costs (if necessary)
  • Note: This does not include accounting systems set up or implementation
Additional details

We are currently using QuickBooks Online as our accounting software.
Reports are exported from QuickBooks to Excel for further analysis and to create budgets.
We would like some feedback on proper categorization of our accounts so that they are clear moving forward and proper financial reports and budgets can be generated. A main concern is the categorization of expenses on the Statement of Activity, we feel they need to be more clearly categorized as Administrative, Fundraising, and Program.

What we have in place
  • We currently have Detailed categorization of every transaction, which should make it easy for you to get started. We also have financial reports and a budget for the last 5 years, and the ability to provide any other information you need.
How this will help
This project will save us $8,564 , allowing us to spend more time on programming and achieving organizational initiatives rather than repetitively reclassifying and recategorizing our accounts.

Having sound financials and proper classification of every transaction will help the organization effectively plan and budget for future periods. We will be able to better assess where we are allocating too much or too little resources and adjust based on organizational needs. This will also allow us to build proper historical data to analyze and reflect on when making important decisions, such as targeted revenue streams, changes to staff, fundraising efforts, needed promotional material, etc.

Project plan

P
Prep: Distribution of Prep Materials
  • Proficiency with spreadsheet and/or software accounting
  • Understanding of any local regulations or laws that would affect Organization's accounting needs
1
Milestone 1: Analysis & Recommendations
  • Volunteer Manager communicates current accounting needs and practices to Professional
  • Volunteer Manager provides a chart of accounts or operating budget, and any financial statements currently being generated (e.g. statement of financial position, statement of activities, or statement of cash flows), outlining current operational constraints with existing system
  • Volunteer Manager conveys any budget and capacity considerations that might apply to ongoing bookkeeping management
  • Note: If necessary, Volunteer Manager should have Volunteer sign a Non Disclosure Agreement (NDA) prior to sharing and discussing Organization’s financial information.
2
Milestone 2: Final Deliverable
  • Professional provides revised list of recommendations, along with cost estimates and preferred vendors to use for implementation
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About the org

Muslims Civic Coalition
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Causes
Diversity & inclusion Community & economic development Philanthropy & capacity building
Posted by
MA
Manar A.

Operations Lead

Our mission

The Muslim Civic Coalition is a partnership of hundreds of Activists, Influencers, Changemakers, and Organizations. Our mission is to convene, collaborate and amplify civic efforts towards an equitable and representative America.
The Coalition specifically works on Civic Work towards achieving Civic Justice for our communities. The Coalition empowers the voices of marginalized and often invisible communities.

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