1. Record Keeping at Asha

2. Why is it Important? Regulatory Requirement (IRS)
Need Transparency for Donors/Contributors

3. What does it Entail? Have Accurate and Up to Date Records of Projects
Project Proposal
Funds Provided
Progress Reports
Site Visit Reports including Photographs
Budgets
Donations, Contributions and Fundraisers
All details of the Donations (Date, Payment Method, Cheque Number, Name and Amount)

4. What does it Entail (Contd.)?
Fundraisers
Receipts of all Expenses and Copies of Cheques Issued
All Income from the Fundraiser
Merchandise
Proper classification of COGS and Revenue from Merchandise by category such as T-Shirts, Mugs..
Bank Statements and Deposit Slips
Minutes of Meetings
Retain Records for 4 Years Minimum

5. Good Practices Use an Accounting Package like Quicken
Enter Cheque Details at the Earliest
Categorise the Cheques into Donations, Fundraiser A, Fundraiser B, T-Shirts etc.
Maintain Project Documentation
In Case of a Change, have a Clean Handoff to the Incoming Treasurer

6. Acknowledgement of Donations
Prompt Acknowledgement of Donations lends credibility to the Organisation
Acknowledge all Donations irrespective of the Amount
Send Receipt + Thank-you Letter within 1 month of receiving the Cheque
Deposit the Cheque or send it to Asha Treasurer within 2 weeks of receiving it

7. Operational Expenses What is an Operational Expense?
Categorisation of Expenses
Banking Expenses
PO Box Expenses
Newsletter Mailings
Postage
Pure Administrative Expenses
Tracking of Donations Earmarked to Cover Operational Expenses

8. Other Issues
Duplicate Transactions
Protecting the Franchise

9. Key Findings Recordkeeping is Critical
Recordkeeping includes projects and meeting minutes

10. Questions/Comments/Suggestions
Pankaj Gupta
(908) (Residence)
(718) (Office)

11. Thank You