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If you are planning to go for NGO Registration Online or Section 8 company registration done, it is important to
you consider the following points to ensure that your NGO Registration grows in
the right direction. Any wrong accounting practice initially can come back to
haunt you later and there will be almost no chance of course correction then.
Let us explore through this article things which all NGO Registration must
Accounting of donations to your NGO Registration: NGO registrations have been under
scanner ever since new government was formed. Hence it is really crucial for
NGO Registrations to take services of best accounting service providers and
account for every donation your NGO Registration has received. It becomes even
more critical for NGO Registration to ensure proper accounting of donations if
the donors are outside India and FEMA Compliance is involved.
NGO Registration to Government Panel: NGO registrations should always be in
look out for government empanelment as most of the works of NGO Registration is
done in tandem with Government. The older your NGO Registration, the better are
the chances of getting empaneled in Government Panel.
certifications required for NGO Registration: NGO Registration are expected to take
various certifications as they reach various stages. Owner of NGO Registration
should continuously consult with Company Registration Consultants before to
understand which all certificates they should take and ensure NGO Registration
takes those certificates.
accounting of all Cash expenses and receipt: It is very difficult for NGO Registration to avoid Cash Transactions all together. Hence co-founders of NGO Registration should ensure that all the Cash they receive as donation or use as
expense should be as per guidelines prescribed by government. For eg. The
threshold of Cash expense is Rs Two Lacs and for any cash payment of more than
5000, revenue stamp has to be used. It is best to use an accounting service provider for the same and continuously engage with them to ensure that there
are no rules being flouted.
If you want to do NGO Registration Online or Section 8 Company Registration Online, please click here.
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