NfP Accountants appreciates that “small does not mean simple” when it comes to charity accounting for small charities and social enterprises. They often have to deal with the same financial management & reporting issues as their larger counter-parts: from dealing with fund analyses, contract income, VAT regulations, and sometimes, trading subsidiaries. Therefore NfP Accountants’ approach is to take every opportunity to provide value added services for small charities and social enterprises.
There are some key differences in financial management for the charity sector compared to other sectors. Small charities often struggle with the sector-specific nuances e.g. in relation to restricted and designated funds, and will often rely on volunteers, trustees, and staff from other sectors, who will find these very challenging. The result is that financial management can become too removed from the primary objectives and operations of the charity.
Thankfully, NfP Accountants has a solution. Specialist finance director support for your charity accounting needs without having to bear the huge cost that would otherwise come with this.
Our approach to financial management
NfP Accountants aims to embed financial procedures that are integrated in the operations of the organisation to help it achieve its objectives. We can achieve this through:
- Understanding the organisation’s objectives and priorities;
- Mapping and understanding existing processes, even if this is as simple as a manual ledger book;
- Identifying any gaps and opportunities for doing things better or simpler;
- Working with staff to develop new processes if needed; and
- On-going review and monitoring to ensure these continue to be fit for purpose as the organisation grows.
With this approach, we can offer unprecedented support for small charities and social enterprises, helping management make decisions that are based on timely accurate financial information.
