Over the last two years, I have been working as a community accoutant. This post is funded by various organisations. My role is to provide bookkeeping training and support to community, charity and faith groups.
My general observation is that thier is not enough trained bookkeepers who specialse in charity bookkeeping/accounts.
So as part of my small business I run, I try to train bookkeepers to develop their skills in this area, as their are quite a number of job opportunites, full time, part time or on a self employed bais. If anyone is interested, I am compiling a simple report on how you can tap into this. Meanwhile if you need more information let me know.
This has a book called money matters and it deals with all aspects of charity bookkeeping/accounts. It's quite a large document but its worth downlaoding. It has some excellent exmaples as well.
I do the books for a not-for-profit organisation and found the document you posted the link to very useful.
We are at the stage of doing the budget for next year and will probably have a deficit budget but have good reserves so should be ok.
From the perspective of budgets etc...at the moment i do the bank rec on a weekly basis to ensure we have enough funds there to meet our commitments but would you say that, from a good practice point of view, i should be doing a monthly cashflow forecast showing the position YTD. This is something i haven't really been doing due to lack of time etc... As i said we have good reserves so am not that concerned but maybe I should be spending more time doing a detailed YTD position more regularly.
Any guidance would be useful on this and any other matters you think are relevant.
Hi I am happy you found the information useful. For good practice I always recommend to prepare cash flow forecasts on a monthly and year to date basis.
Quarterly management accounts should cover: Actual income and expenditure Budget comparison against Income and Expenditure Cashflow projections to the end of the financial year Grant list - this is a summary that give you an overview of all funding received
Hi Jenny i would be interested in the report on bookkeeping for charitys, i think it would be very useful. Is it something your working on or have completed?
I currently work full time as a Finance Manager for a charity so if anyone has any questions that need answering then I'm always here to try and help out.
Please let me know how I can help. Is it that you require training in this area or do you want me to coach you as to how you can get clients and start providing this service?
This has a book called money matters and it deals with all aspects of charity bookkeeping/accounts. It's quite a large document but its worth downlaoding. It has some excellent exmaples as well.
Some background Knowledge you may require depending on the charity you are working with:
1. An understanding of how charities/community groups are set up and governed.
2. Understanding of Fund Accounting
3. Understanding of the Charities Accounting SORP and SOFA
4. Understanding of the different ways groups generate income e.g. Funding, Service Level Agreements, Contracts, Donations , trading etc
5. Gift Aid
6. Charities VAT and Taxation
7. Useful to know Excel, Sage, Quick Books, MYOB, TAS, Sun Accounts (these are the ones most of the groups I have come across use)
8. Understanding of full cost recovery of costs and cost allocations/apportionment
9. Understanding the difference between independent examination and audit
-- Edited by gennyjones on Wednesday 30th of March 2011 09:04:22 PM
I used to be employed as a community bookkeeper completeing year end accounts for non profit making groups and charities, I am now self employed now but still do the same type of thing. I also train treasurers of these organisations and support them with bookkeeping. I live in Sheffield so if anyone needs training & support......be happy to hear from you.
-- Edited by Samalixo on Tuesday 19th of April 2011 06:45:42 PM
