I recently hosted a successful NGO governance seminar and had quite a bit of questions relating to the right accounting package and where to begin with regards to good record keeping. I have audited a couple of NGOs and the main reason NGOs outsource their accounting is because it is often too costly to hire a full-time accountant or just fear of having to do bookkeeping in-house.
Here are some of the questions I have been asked and my best response to it:
I need to start recording the NGO’s income and expenses. Where do I begin?