📓🚧 Finance

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This Handbook responds to the following Policies:

To add: Cryptocurrencies To add: Banking Handbook

FROM LEN TEMPLATE:

Note: Needs to be signed off by a Certified Public Accountant

1. INTRODUCTION

2. DIVISION OF RESPONSIBILITIES

3. CHART OF ACCOUNTS AND GENERAL LEDGERS

4. CASH REGISTRY

• Include cards

• Include cryptos (maybe use a general term as financial assets?)

1. CASH DISBURSEMENTS AND EXPENSE ALLOCATIONS

2. ACCRUALS

3. BANK ACCOUNT RECONCILIATIONS

4. PETTY CASH FUND AND REVOLVING FUND

5. ASSET MANAGEMENT

6. PERSONNEL RECORDS

7. Kept in electronic format inside the CRM or whatever other storage medium used at the time. Access and rectification (following HR regulations) allowed.

8. PAYROLL PROCESSING

9. END OF THE MONTH AND FISCAL YEAR CLOSE

10. FISCAL POLICY STATEMENTS

11. APPENDICES

Revenue Streams

SI Labels:

SII

SIII

SIV

Plant, property and equipment and intangible assets Property, plant and equipment are stated at cost less accumulated depreciation and any accumulated impairment losses and discounts due to decline. Depreciation is calculated using the straight-line method. Useful life ranges are for groups of property, plant and equipment, the following: Buildings Buildings for 10-20 years Facilities 10-30 years Machines and devices Means of production 5-15 years Transport equipment 5-10 years Other tangible fixed assets Inventory 2-5 years Furniture for 5-10 years Office equipment 3-5 years Land is not depreciated.

Reimbursements

Each such expenditure or costs shall be reimbursed only if:

(i) with respect to costs in excess of EUR50 (or equivalent, based on the exchange reference described in Appendix B), individually, Adviser receives prior approval from the Organization’s CEO or CFO or other authorized executive for such expenditure or cost, and

(ii) with respect to costs in less than EUR50 (or equivalent, based on the exchange reference described in Appendix B), individually, provided Adviser furnishes to Organization adequate records and other documents reasonably acceptable to Organization evidencing such expenditure or cost.

Cash Advances for Activities and Payments

(This can be processed by any of the staff)

1. Using the Cash Advance Request Form, the requesting person inputs the project name or number, the funding partner and lists the specific items and corresponding amount requested with its respective budget line item reference. The form shall be signed by the requesting party and the project officer / manager.

2. The C/A form then goes to the online portal. All required items shall be inputted.

3. Once submitted, it will be referenced based on the row within which it was submitted. It shall then be numbered based on the current year, following the last two digits of the bank account from which it was requested and the corresponding row. The numbering shall be implemented by the Finance and Admin team in the online sheet and in the actual form should it be printed. The number will be this format: 19-38-01 YY-BB-RR

4. The Finance Manager shall verify the amounts requested and sign off validation.

5. The CEO approves and signs off checks for the release of the funds online.

6. Required Documentation for this process: Cash Advance Form, Cash Advance Form submitted online, Check/Bank Transfer Documentation

7. Note: if the cash advance request is a payment for reimbursement, the same process follows however the corresponding documentation of the items for reimbursement must be approved from the filing level

Liquidations

(Must be completed by the requesting party not later than two weeks after the activity was completed)

1. All cash advances will be liquidated using the TIOF Liquidation form

2. All expenses must have a corresponding documentation or a corresponding explanatory note why documentation is not available

3. All expenses that do not have official receipt or official documentation must have a form of documentation i.e. TIOF Acknowledgement Receipt form signed by the external party receiving payment from TIOF

4. Liquidation Form must be signed by the requesting party of the cash advance and reviewed by the Finance Officer / Manager

5. It shall be submitted to the CEO or respective immediate head for final approval

6. All remaining cash shall be re-deposited to the TIOF bank account.

7. All reimbursements shall be processed following requisition of cash advance. Revolving Fund cannot be used to pay for cash advance reimbursements

8. Documentation Needed: Liquidation Form and corresponding official documentation, proof of return (deposit slip) of positive balance