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Accounting System

Help Massachusetts Community & Banking Council <ul>A professionally designed accounting and bookkeeping system * Advice on how to improve and enhance its existing accounting system * An efficient and effective way to develop…
Massachusetts Community & Banking Council
Boston, MA, USA
Massachusetts Community & Banking Council
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Massachusetts Community & Banking Council
Boston, MA, USA

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Cause
Community & economic development
Skills
Accounting

Posted December 18th

Accounting System

Project details

What we need
  • Analysis of accounting needs and assessment of current accounting practices
  • Recommendations for process improvements and report generation
  • Recommendations for appropriate bookkeeping software and related costs (if necessary)
  • Implementation of chosen bookkeeping software (if necessary)
  • Training on data input and essential reports to generate
What we have in place
  • We have a staff member responsible for bookkeeping committed to this project who is new to the organization and bookkeeping. We also have access to Quickbooks. The former ED was entering transactions in Quickbooks on a cash basis. Quickbooks does not appear to be correctly set up/fully utilized. We have a chart of accounts and an operating budget (Excel). Financial statements are not being generated (only a cash basis P&L). Looking for help to hit 'reset' and start fiscal year of right!
How this will help
This project will save us $6,779 , allowing us to lower our overhead, increase efficiency, and better track program expenses.

Currently, we only need to generate an IRS 990, but are hoping to grow our membership and will eventually need to generate audited financials. Accounting fees increased substantially because we are not generating accurate financial statements in Quickbooks.

Project plan

P
Prep: Distribution of Prep Materials
  • 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)
1
Milestone 1: Analysis and Recommendations
  • Professional analyzes current accounting system, and recommends improvements to data gathering, reporting, or implementation of new bookkeeping software
  • Volunteer Manager provides feedback which Professional incorporates
2
Milestone 2: Implementation
  • Professional helps Volunteer Manager to implement recommendations
3
Milestone 3: Training
  • Professional trains Volunteer Manager on how to fully implement recommendations to ensure sustainability
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About the org

Massachusetts Community & Banking Council
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Causes
Community & economic development Diversity & inclusion Housing & homelessness
Posted by
Regan S
Regan S.

Executive Director

Our mission

Providing a collaborative forum for Massachusetts financial institutions and community organizations to meet and share information with the goal of affecting positive change in the availability of credit and financial services in low and moderate income communities and communities of color across the Commonwealth.

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