I was searching for some help for charity accounts ...but most of them are more than a year old.
I have just taken the accounts of a local charity that offers some courses...
it's a new Company Charity, no VAT reg, no fixed assets, just the running costs(rent, trainers cost, just basic).
-first question: Can anyone help me with a Excel template(they can't afford a software) for this kind of charity and some info on "how to do it properly"
- second issue:
The previous bookkeeper was rubbish(no offence to fellow members)- she was keeping the accounts just as lines on excel,no accounts whatsoever, mainly as a Payments and Receipts list- Which is wrong , they were supposed to be doing an accrual system. What can I do to get covered of all the mistakes done in the past??? Should I start again with their accounts from beginning----because I gues I will have a lot of problems when I will have to submit Anual Reports
Also when the register as a Charity they didn't started from beggining with the accounts(there were transactions in the bank account and previous balance)--- would this be a problem?
Thak you for your time and for reading this.
Regards
Cosmin
-- Edited by macro on Tuesday 3rd of July 2012 11:14:34 PM
I apologise if I have upset anyone with my previous post...I was just upset that is a lot of work done unprofessional. I was just looking for some help..pls
Hi, I saw you post and didn't think there was enough information to answer and I was pushed for time. You didn't upset me, (I don't know about any one else) but I did question if you knew enough to do this type of work. I know if you don't try things you can't learn, but I have learn't that sometimes what one person thinks is the right way, another will think it is wrong does not mean either is actually wrong.
You mention a new company charity does that mean its a Ltd company and are you are doing accounts for a Ltd company? You also ask about registering as a charity. If its not registered already as a charity its not a charity. You also critise the bookkeepers simple system of record keeping, but depending on the turnover, it may not have been the wrong way of doing it. I often see people do simple accounts on the basis you mention, and then at year end they do the accrual/prepayment etc adjustments rather than do it during the year as its simpler to do it that way.
I may be completely wrong, but the company sounds like may be currently a non-profit making organisation or a trading company. Charities etc can have a trading company if they have trading activities which pay tax etc like any other company.
Thanks for your reply....
It is a charity limited by guarantee, they don't have yet the charity no. it's still pending with the Charity Commission, but they are registered with the Companies House.They are just starting to bid for as many grants as they can, I am helping them with the budgets for the programs that they intend to have. It's true that I am new to this, but I have bookkeeping knowledge and a drive to learn more....I have to start from somewhere, a job is almost impossible to get without a bit of experience and the easiest way is to do voluntary work.
What I received from the previous pers is a big file with bills and receipts and an excel file with the registrations....they don't have any bank reconciliation done, nothing and I am a bit worried in what I am get into....
Thanks for your reply....
It is a charity limited by guarantee, they don't have yet the charity no. it's still pending with the Charity Commission, but they are registered with the Companies House.They are just starting to bid for as many grants as they can, I am helping them with the budgets for the programs that they intend to have. It's true that I am new to this, but I have bookkeeping knowledge and a drive to learn more....I have to start from somewhere, a job is almost impossible to get without a bit of experience and the easiest way is to do voluntary work.
What I received from the previous pers is a big file with bills and receipts and an excel file with the registrations....they don't have any bank reconciliation done, nothing and I am a bit worried in what I am get into....
If you have all of the bills, all of the receipts of donations, and all of the bank statements then you have everything that you need to build an income and expenditure account.
I didn't answer this one as I have no charities myself so left it to others with more experience in this area.
As only recording is being done using Excel can I assume that the charity also has an accountant in place in order to file the returns? If so you should be able to correspond with them under the pretext of ensuring that the information that you provide is sufficient and in a suitable format for their requirements.
kind regards,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Until the company is registered with the Charities commission its a Ltd Company which has Article of Associations etc on a charitable basis. The accounts are just ordinary Ltd companies accounts but done in the same way you would do a non-profit Ltd company.
