Development of the financial management system is needed so that the organization has adequate internal controls and was able to produce financial information that is understandable, relevant, comparable, reliable, and in accordance with generally accepted accounting principles.
The system is developed to handle something repeatedly or regular basis. Each system consists of a network of procedures. Financial system will be consist of financial forms, records and reports to provide the financial information that needed by management to take organizational decision making.
Results of system development services include:
1. SOP (Standard Operating Procedures) of Financial Management
• Flow chart of procedures
• Explanation of the each procedures in the narrative.
2. Accounting Guidelines, which consists of: accounting policies, accounting treatment and standard journal.
3. Financial form used and report templates generated
Several non-profit organizations already have a SOP, which is actually a collection of best practices procedures are routinely performed. Reassessment can be done along with an adequate mapping of the workload of each function, assessment of internal control mechanisms and standardization of forms used. Stages of system development in outline are as follows: a. Current analysis (preliminary assessment, system analysis), b. System design (mapping procedures, design in detail) and c. System Implementation (including socialization, mentoring and system review).