Accounting Software Helps SMEs manage their Grants, Donor Funds and Investments
Uhasibu an online accounting system for East Africa has launched a project based accounting module to help SMEs manage all their grants, donor funds and investments to also run their day to day accounting activities of the company.
Due to the increased number of SMEs, the Government and NGOs have ventured into investing in the industry that contributes to employment as well as the annual GDP. Accounting systems in the organizations only report for the entire organization leaving the company with the task of sifting through their books to figure out details.
Project based accounting module will help SMEs keep track of income and expenses at the project or grant level. The funded company simply declares in its books a project which would then represent the donor and under this project, they register the exact amount of money they have received from the donor as well as register any expenses that they incur while using the funding.
This will help the company generate a report that includes ONLY details of the funding they received from the specific donor without affecting the reporting for the entire company or affecting the reporting for any other funds they have received.
Uhasibu reports generated from doing project based accounting will catapult the level of donor fund accountability and hopefully increase the amount of funds going around to fund SMEs.