NfP Accounts provides charity financial management that supports non-accounting managers’ decision-making
Management accounts should be customised to the organisation’s needs and tiered from a high-level summary to the minute detail over different levels. In order to facilitate decision-making, they should also be accompanied with jargon-free commentaries, and benchmarking analyses against the sector or internal key performance indicators where possible.
If needed, I will be available to attend Trustees’ and other management meetings where the management accounts are discussed, to help explain them and answer any questions.
Financial planning: The nature of the charity sector makes it difficult to map future finances, as future income is highly uncertain. Yet, budgeting and forecasting are an essential part of running any organisation. Donors also often ask to see the charity’s budgets and cash flow forecasts. NfP Accountants’ Director has helped many charities develop and monitor their budgets, and creates tools that can be used in this process for small charities.
Statutory compliance: The burden of compliance can be overwhelming for small charities & social enterprises. NfP Accountants can help with:
- Preparing and filing statutory accounts (with a 30-day turn around guarantee)
- Reviewing the Trustees Annual Report to ensure that it contains all required information, while promoting the objectives of the charity
- Dealing with external auditors – preparing a full audit file so that the annual audit will cost the charity significantly less money
- Recording and reporting VAT, including managing partial exemptions
- Dealing with the regulators, including HMRC, Charity Commission, Companies House, etc.
- Managing Gift Aid processes
Grants and donor management: Many a small charity find themselves in a situation where a major donor requires information and it’s not available, and sometimes it happens that keeping on top of donor admin (e.g. sending invoices) falls behind. We could help you with:
- Setting up systems to gather donor compliance information on an on-going basis
- Set up systems to run donor reports straight from your bookkeeping system
- Write to donors in support of your funding application where needed
- Meeting with donors to explain the organisation’s finances where needed