In an organization where it is a place for a group of people to
come together, it is important to be able to manage its finances in it. Finance
is the heart of any organization. Without it, they will fail to survive, even
when the competition isn't fierce.
Keeping finances as steady as possible is the goal of any
organization if they want to thrive through the competition. In order to make
everything under control, hiring reputable and skillful individuals is a must.
Financial management itself can be said as an activity both
within organizations and companies that get funds, and there is an effort to
use and allocate these funds efficiently. There are many things to learn in financial management. One of the important
ones is the way to manage organization spending and investment. In contrast to
managing personal finances, there are several ways to be able to manage
organizational finances effectively as mentioned here.
The need to manage finances in organizations is to maintain the
financial health of the organization; therefore, to make this happen, there are
several ways and principles that can be applied to manage finances in
There are some things to prepare in order to keep the financial
health of the organization and make the budgeting for all projects can be
properly made, such as:
In the organization, of course, they must have clear goals. The
actual purpose in the question itself is what the organization wants to achieve
with certain activities that require funds. They can do it by first knowing the
goals of the organization.
Then financial control can be carried out by the person
appointed to manage finances in the organization. After having clear goals,
planning and financial analysis will become easier.
After determining the goals and activities to be carried out by
the organization, the next step is to make a monthly budget. Budget funds can
be in the form of writing expenses that will be carried out by the organization
and can include target funds that must be collected to achieve the goals you
want to achieve.
This method is actually usable for personal financial
management. If you want to save, you can make your own budget and finally buy
the things that you need. However, it's always best to do it in a very safe
way. For example, you can actually do shopping on a budget
using VPN services. The service will always save you. As long as
the service is reputable, you can rely on it anytime you need it.
Of course, in the organization, there must be a source of income
that is obtained to carry out the goals and production activities. This
definite source of income can be in the form of funds from members of the
organization every month with the nominal that has been determined and managed
by the treasurer or a person appointed as a financial regulator in the
It is important to record every expense and income in the
organization because it will make it easier to check every financial turnover
in the organization, so it is better if it is recorded neatly.
Recording finances can be done anywhere and anytime by recording
it in a smartphone application. These financial records also need to be shared
with members of the organization in order to avoid unwanted scenarios. By using
the accounting apps, everything can be
made easy. You can easily find an app that can help you with recording on the
Usually referred to as auditing or financial audit. It is
important to carry out financial audits on the organization's finances so that
the existing finances are in accordance with the rules and there are no
irregularities. This financial audit can be carried out by the head of the
The management system is better to use accounting principles or
standards so that it can predict how much to spend or what needs are needed.
These principles include:
The existence of Planning, planning between
the availability of cash and profit and loss in activities.
Adjusting Budgeting so that there is good
planning and allocation of costs and can maximize the funds they have.
Controlling by evaluating the implementation
and improvement related to finance and the system in its management.
The existence of Auditing by conducting an
internal audit of the organization's finances so that there are no deviations
and can be carried out in accordance with the accounting standards applied.