jerry, and others who have responded: thanks for your input. As a summary, the best thinking of the group tends to be: use non-profit software if you can, be audited as often as you can, and use GAAP accrual vs cash accounting if you want to be one of the big boys. very helpful. ----------------------------------------------------- Darrell Beauchamp, Ed.D. Executive Director Briscoe Museum P.O. Box 90009 San Antonio, TX 78209 [log in to unmask] 210.832.3206 office 210.260.6869 cell 210.832.3219 fax www.briscoemuseum.org On Nov 4, 2007, at 7:16 AM, jerry symonds wrote: > Dear Darrell, > > 1. Can't really comment, our dimensions merit the use of more > complex accounting software. > > 2. Make a distinction between internal controls and internal and > external audit. Internal controls (including risk management) should > be hard-wired into ALL your activities and not just financial. > Internal Audit is the review of those controls: good idea but > depends on your budget! If you can afford it, this review process > should ideally be throughout the year and program-based. Our > organisation employs 2 Internal Auditors and I am one of them! > External Audit (in UK) law is required annually ( subject to certain > exemptions mostly on the basis of small scale) - can't comment on > the US situation. Some museums in the UK, who feel they cannot > justify a full-time Internal Audit presence, contract in Internal > Audit services (sometimes provided by external auditors) for > specific reviews as and when needed. > > 3. I came into the heritage sector from the commercial sector where > accrual accounting is standard practice and was amazed to find how > prevalent cash accounting was - I would definitely recommend accrual > accounting but agree with one of your other respondents that this > does require a basic understanding of the difference between cash > flow and profit : not all find this easy. > > Hope that helps - let me know if you would to discuss further. > > Best Wishes, > > Jerry Symonds, Qualified Accountant (like you CPA), practicing > Internal Auditor and holder of MA in Museum Studies. > ----- Original Message ----- > From: Darrell Beauchamp > To: [log in to unmask] > Sent: Wednesday, October 31, 2007 11:33 PM > Subject: [MUSEUM-L] accounting software thoughts > > Three quick "your opinion/thoughts" question for non profit museum > people: > > Quickbooks (regular version) or Quickbooks for Non Profits? > How often, if ever, do you seek an audit? > Cash accounting or GAAP Basis accounting? > > I've been out to the various helpful websites AAM, etc. Know the > pros and cons. Just want a feel for who does what so I can relay to > a board member. > > Thanks > > Darrell > ----------------------------------------------------- > Darrell Beauchamp, Ed.D. > Executive Director > > Briscoe Museum > P.O. Box 90009 > San Antonio, TX 78209 > [log in to unmask] > 210.832.3206 office > 210.260.6869 cell > 210.832.3219 fax > www.briscoemuseum.org > >> >> >> See what's new at AOL.com and Make AOL Your Homepage. >> ========================================================= Important >> Subscriber Information: >> The Museum-L FAQ file is located at http://www.finalchapter.com/museum-l-faq/ >> . You may obtain detailed information about the listserv commands >> by sending a one line e-mail message to >> [log in to unmask] . The body of the message should read >> "help" (without the quotes). >> >> If you decide to leave Museum-L, please send a one line e-mail >> message to [log in to unmask] . 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