More time for your cause.

Give the routine an owner.

When bookkeeping depends on spare time, small tasks can quickly become a backlog. A workable routine gives someone responsibility for collecting records, reconciling accounts and preparing information for review.

Separate the tasks where possible: who submits an expense, who approves it, who records it and who reviews the reports? For a small organization, a second person’s documented review can help when a larger team is not available.

Use a monthly rhythm.

1. Collect: gather bank and card statements, invoices, receipts and payroll records.
2. Record: enter transactions consistently and attach the supporting documentation.
3. Reconcile: match the accounting records to bank and card statements, and investigate differences.
4. Review: check unpaid bills, outstanding receivables and balances that need explanation.
5. Report: prepare a short financial summary with questions or decisions that need attention.

Set a realistic completion date each month. If something is unresolved, record the issue and assign the next action.

Track funds in a way you can explain.

If your organization receives grants or funding with conditions, organize the records so you can connect spending to the relevant agreement, program or project. Keep the agreement alongside the reporting requirements and due dates.

Decide on consistent categories before reports are due. Discuss the appropriate accounting treatment with your accountant; project tracking and accounting recognition are related, but they are not the same task.

Make reports useful to the board.

A report should help someone understand the situation, not just contain numbers. Consider showing actual results against budget, available cash, significant unpaid amounts and a short explanation of unusual items.

Give reviewers time to ask questions. Keep a record of the review and any decisions or follow-up actions. A predictable reporting format makes changes easier to spot from one meeting to the next.

Plan for handovers.

Use organization-controlled accounts and document where records live. Avoid making one volunteer’s personal inbox or computer the only place important documents can be found. Keep access responsibilities current as people join or leave.

A registered charity and a nonprofit that is not a registered charity can have different filing and record-keeping obligations. Do not assume one set of rules covers both. CRA’s charity record-keeping guidance applies specifically to registered charities and notes that outsourcing bookkeeping does not remove their responsibility for records.

Start by agreeing on your organization’s routine and reporting needs. From there, discuss whether bookkeeping, controller support or year-end assistance would be useful.