Charity Accountants

Giving back

Making the world a better place is rewarding but not easy. Our charity accountants want to support you while you support our community.

You already have enough on your plate with fundraising, marketing and running your charity so why burden yourself with your financial reporting when we can do it for you?

We’ll cover all aspects of your charity accounts from basic day to day bookkeeping and filing your tax returns to keeping you compliant with the Charity Commission. Together, we’ll make sure everything is by the book.

What is a Charity?

A charity is an organisation set up for charitable purposes with the main objective of providing public benefit. Charities are usually registered with the relevant regulatory bodies such as the Charity Commission in the UK. To be a charity an organisation must meet specific criteria including having charitable purposes for public benefit, not being a government entity, individual or political party and not having a disqualifying purpose. These criteria ensure charities operate with integrity and focus on their mission to make a positive impact on society.

Not-for-Profit

Characteristics of a Not-for-Profit Organisation

A not for profit organisation is an organisation that is not driven by making a profit. Instead its main objective is to achieve a social, cultural or humanitarian mission. Not for profit organisations can take many forms including charities, community groups and social enterprises. They are often tax exempt on their income and donations to these organisations may be tax deductible. This tax exempt status means not for profits can put more resources into their mission so they can make a real difference in their community.

Focusing on the finances of non profit organisations

Like most organisations charities and non profits need to keep their accounts up to date and a clean tax record. Our charity accountants can help you stay compliant and keep your books balanced.

Non profits including charities must adhere to strict financial regulations to maintain their tax exempt status and transparency in their financial dealings.

Falling behind on your reporting can have a domino effect on your charity’s reputation. As you are in the public eye you need to take steps to prevent this.

We’ll check your Gift Aid transactions, VAT obligations and all your registrations. We can also do your bookkeeping, record and report your fundraising so your supporters and trustees know where your charity’s money comes from and where it’s going.

Charity Accounting and Financial Management

Good financial management is critical for charities and not for profits to achieve their mission and provide public benefit. This includes keeping financial records accurate, preparing annual accounts and being compliant with the relevant laws and regulations. By keeping on top of their finances they can focus on their charitable purposes and serve their community effectively.

Why Accurate Financial Reporting Matters

Accurate financial reporting is critical for charities and not for profits to be transparent and accountable. This means providing detail on income, expenses, assets and liabilities and disclosing any conflicts of interest. By doing so charities can show they are good financial managers and build trust with their stakeholders including donors, beneficiaries and regulatory bodies. Transparent financial reporting will enhance the organisation’s reputation and keep the public and other key stakeholders on side.

Charity audits and examinations

Many charities need to have an independent examination or audit each year either when they reach a certain size or at the request of their trustees. These can be disruptive and take some of the focus away from your cause.

We can help you prepare by getting everything in order and addressing any issues before your audit. That way your auditor can do their checks quickly and with minimal disruption. Once the process is complete you’ll get a report with recommendations and changes you need to implement. We can help with that too.

The rules and regulations in the charity sector are always changing but you can rely on us to keep you informed of the latest. We’ll make sure you’re compliant so you can focus on your charity’s purpose.

And if you want to develop your financial management skills we’re here to provide the accounting expertise and practical guidance.

Think your charity could benefit from working with experienced charity accountants like us? Get in touch with us today. We look forward to speaking with you.