Systematic bookkeeping is necessary to document that the granted funds are used correctly and in accordance with generally accepted accounting principles. All income and expenditure must be recorded on an ongoing basis in an electronic accounting system or a cashbook (typically Excel) by the staff responsible for bookkeeping in the Danish organisation and the partner organisation, respectively.
To ensure full documentation, every single transaction must be supported by a voucher that has been approved in accordance with the organisation’s procedures and assigned a reference number that links it directly to the bookkeeping/accounting records. For staff whose salaries are covered by the grant, the use of a time registration system is also required in order to document and approve actual working hours.
This process takes place continuously throughout the project period, and all vouchers and other accounting documentation must be retained for ten years after completion of the intervention and CISU’s approval of the final reporting, in order to enable subsequent control and audit.
